Who Pays for Repairs and Defects in ‘New’ Homes? Caveat Emptor or Buyer Beware
I often receive calls, emails and letters from clients who ask, after taking possession of their “new” home, who will pay to repair defects that they have found. Just the other day a client called to tell me that the floor tiles in the main bathroom appeared to be loose. He wanted the Vendor to fix them. The law surrounding …
Read MorePurchasing a New Home? Don’t Forget Mortgage Instructions for Your Lawyer
One issue that arises frequently when you are purchasing and mortgaging a new home is a failure for your mortgage company to provide mortgage instructions to your lawyer. The lawyer wants to have the mortgage instructions in their office a week prior to the purchase so that the appropriate mortgage documents can be prepared, the searches ordered, a meeting with you, …
Read MoreCommon Sense in New Home Walkthroughs – Just Do It!
Take a good look at that new home you are buying. You are given an opportunity to walk through and make note of deficiencies. The Builder will commit to repairing those deficiencies only if you have reported them. You are given an opportunity to make that list on three separate occasions. DO IT!
Read MoreSpring Real Estate Buying Season Hits Calgary
This time of the year is always interesting for those who are actively involved in Calgary’s real estate market. Like the Buyers and Sellers I watch the news and listen for the anecdotal evidence that the market is looking up, down, or sideways. The news this year is mostly positive for the market in general largely due to lower interest …
Read MoreReal Estate Buying Tips: Hold Backs
Generally, a purchaser will be unable negotiate a hold back for a portion of the purchase price on the closing date. For example, suppose that you, as purchaser, are taking possession of your new house today and you find that the dishwasher does not work, the front window is now broken or a giant stain has appeared in the carpet. …
Read MoreMore Things to Look at Before Purchasing a Home
There is no substitute for actually spending the time to review your contemplated house purchase prior to entering into a Purchase Agreement. Many purchasers will not look beyond the well maintened lawn, the flowers and the paint colour to consider the other positives and negatives of buying this particular house on this particular street in this particular neighborhood.
Read MoreDo Your Due Diligence When Searching for a Realtor
While a large proportion of my real estate practice comes to me via my connection with realtors, I don’t want to point fingers, but I am increasingly finding that both Buyers and Sellers are not being served well by their realtors. My issue to discuss in this blog post is a Seller’s realtor who failed to disclose to the Buyer’s …
Read MoreDo You Need a co-habitation Agreement?
Any time that two or more unmarried individuals purchase a property, either to live in or as an investment property, they need to have a written agreement among themselves that states their intentions in regard to the property. I hear the question frequently, “Do we need a co-habitation agreement?” More often I hear Buyers telling me that they need no …
Read MoreThe Important Role of the Home Inspector
A Home Inspector can often play a valuable role in your home purchase decision. Not only are inspectors trained to recognize the telltale signs of a problem but they may be a valuable asset for any claim you might end up having with the Vendor of your new home.
Read MoreCheck for Special Resolutions Prior to Condo Purchases
Condominium purchasers ought to satisfy themselves that the condominium they are about to purchase is not soon to be the subject of a Special Assessment cash call.
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