Lintott Law
Advising On Real Estate And Foreclosure Law In Calgary
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Posts tagged "Real Estate Transactions"

Terms encountered in commercial real estate transactions

For any business owner in Alberta, negotiating for the purchase of commercial property might be one of the most important negotiations he or she will conduct. Understanding some of the terms that will be used may ease the process. Building condition assessment may be one of the first to be mentioned. This is an assessment of the building's structural components, including plumbing and electrical systems and more, and a report on needed repairs, typically done before finalizing real estate transactions.

Sears closures may create commercial real estate opportunities

An announcement by Sears Canada Inc. about its intention to close many stores in Alberta and other provinces may have an impact on mall owners across the country. Nevertheless, it will create opportunities for other business owners who are looking for premises in sought-after locations. However, the legalities of commercial real estate transactions -- both leases and purchases -- can be challenging if tackled without legal counsel.

Real estate transactions: The basics of mortgages

When an Alberta couple decides to buy their first house, they may have many concerns and questions. Although they will likely use a realtor to search for their perfect home, they'll also need a savvy real estate attorney. It also helps to gain an understanding of mortgage financing options as they are typically an integral part of many real estate transactions

Be prepared for closing costs in real estate transactions

Alberta residents who are looking to purchase a home may look at the asking price without factoring in closing costs, which can account for substantial additional funds. To close deals on real estate transactions, buyers typically have several other expenses that might catch them unprepared. Depending on the urgency of the sale, the seller may be prepared to foot the bill for some of those fees.

Real estate transactions need not be a nightmare

For most Alberta residents, purchasing commercial or residential property might be the biggest and most important transaction they will ever make. The laws surrounding real estate transactions are complicated and not to be navigated without the help of a skilled legal representative. At Lintott Law, you can get the necessary support and guidance to cover all of your legal bases while also protecting your interests.

The true costs of real estate transactions are often hidden

Purchasing a house is naturally an exciting event, and the enthusiasm may prevent Alberta buyers from reading what is typically referred to as the small print. Several expenses are often unanticipated and may put the overall cost of real estate transactions in higher price brackets. Think of home inspections, land transfer taxes, moving services, legal fees and miscellaneous closing costs. If this is not the forever home, those expenses may be excessive.

Do real estate transactions offer cooling off periods?

Many consumers in Alberta have likely experienced impulsive buying that comes back to haunt them a day or two later. This happens to so many people that the law allows cooling off periods, during which time consumers can cancel certain types of deals. Although this does not apply to all real estate transactions, Alberta consumers have a chance to call off a condominium purchase they made without proper consideration or for any other reason.

Real estate transactions: Hurdles for which to look out

Selling a home in Alberta is not just a matter of enlisting the services of a realtor and waiting for him or her to get a buyer. There are intricacies related to real estate transactions that could make or break the success of the deal. Advisors suggest that sellers ask two or three top real estate agents to look at the property and provide comparative market analysis. At the same time, the homeowner can learn the trends in the area related to the going rate of agent commissions and more.

Real estate transactions: Can an offer to buy be cancelled?

Buying a house in Alberta can be a stressful process because a lot can go wrong. Real estate transactions start when buyers put in offers to purchase, and if the sellers accept the offers, Agreements of Purchase and Sale documents will be negotiated and signed. Once that is done, it is a legally binding contract that cannot be rescinded or cancelled without difficulty -- unless the parties agree.

Real estate transactions: Check for grow house signs

Alberta residents who are on the lookout for residential property to purchase may not notice cleverly concealed damage to a house that may seem to be just what they wanted. A rather common problem appears to be properties that used to be marijuana grow ops. This type of activity inside a residential property can cause extensive damage to buildings, and it may be wise to have a qualified building inspector to give the property the once-over before any any real estate transactions are consummated.

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Calgary, AB T2E 2V9

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