When it comes to buying a house, it's almost impossible to be too careful. It's far better for residential real estate buyers in Alberta to ask too many questions than it is for them to not ask enough. Here are a few things buyers should look into before signing off on a new home.
The first thing a buyer should clarify is who actually owns the property. Developers and investors will sometimes try to "sell" a property without actually changing over the ownership from the people who previously held the property. This can be an be a big disappointment should the investor fail to finalize the paperwork with the actual owner.
Buyers should also look into whether the property they wish to buy has been used to secure a loan. This, too, can create a legal quagmire if it is not accounted for in the legal paperwork. Some other things buyers should look into include restrictions on land use, defect liabilities, and what is and is not included from a show house when buying new.
Even the most careful buyer can miss a couple questions in the excitement of putting in an offer. This is why it is so important to have independent legal counsel to draw up agreements when making an offer for a property. This will help buyers protect their interests, instead of blindly signing a contract that is primarily in the interest of the seller. Seeking independent counsel for a residential real estate transaction in Alberta is a good step to take even before looking at potential homes.