Most Common Terms

Terms and Clauses

Alarm System | Commission Protections | Cash Back at Close (use Carefully) | Holdback | Late Signing | Permits | Pro Ceaning | Property Inspection (seller side) | RPR | Vacant possessions | Walk Through | Coming soon to MLS

Foreign Buyers

1. Ensuring housing market remains available to Canadians
2. Map of AB Showing Census Areas and Census Metropolitan Areas
3. Seller Term for Foreign Buyer
4. Prohibition on the Purchase of Residential Property by Non-Canadians Act
5. CMA CA Map (User Friendly Version)

FSBO

1. For Sale By Owner

New Build - Single Family - Table of Contents

1. 10 Day Rescision Period
2. Commision Not Paid on GST
3. GST Rebate
4. Warranty

Buyer Side -…

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Sometimes a spouse tries to get around the rights that their spouse has. Doing so can include harsh penalties. The cost is often equal to half the value of the home -  Not half of the equity in the home and land but half the value of the home and land itself.    For an example of the consequences of ignoring the Dower Act, click on the button below to download the case titled JONCAS V. JONCAS 2017 ABCA 50 (Gordon & Zwaenepoel, 2017) provided by the Legal Education Society of Alberta (LESA) legal library.    

Dower Summarized

While the Dower Act can at times seem complicated, it is in fact quite simple. The three questions triggering the need for Dower consent are:

1. Is there only one

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Amendments  RPR & Compliance matters

Common First-Time Home Buyer Mistakes

1. They don’t ask enough questions of their lender and end up missing out on the best deal.

2. They don’t act quickly enough to make a decision and someone else buys the house.

3. They don’t find the right agent who’s willing to help them through the homebuying process.

4. They don’t do enough to make their offer look appealing to a seller.

5. They don’t think about resale before they buy. The average first-time buyer only stays in a home for four years.

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Download our first time homebuyers guide

Source: Real Estate Checklists and Systems, http://www.realestatechecklists.com/.