Posted on Jan 28, 2021
Once you have found your NEXT home, it is time to write your Offer to Purchase. An offer is a legal document, which is why it is important to work with a REALTOR ®
The items typically included in the offer are:
Offer Price: the list price is what the seller is asking but does not need to be what you offer. By comparing similar properties your REALTO...
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Posted on Jan 28, 2021
Don’t get caught up in the following:
• Don’t wait for the perfect house, there isn’t one
• Compromise and prioritizing are necessary elements in home purchasing
• Don’t buy before you do some comparison shopping, especially if you’re new to the area
• Don’t write an unrealistic offer or you will simply be helping someone else’s offer look good (too lo...
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Posted on Jan 28, 2021
Another choice you will need to make is deciding between a new home, one that has been previously owned (a “resale” home), or one that you will build yourself. Take time to carefully consider each option.
New home:
• Is the home built and ready to move into, or will you have to wait for the construction to be completed?
• If the move-in date gets de...
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Posted on Jan 28, 2021
Options vary slightly between provinces, but you can choose between the following ownership types in Alberta:
Fee Simple: you own the building and the land. “Fee simple” tenure is the most common type of ownership. Owners of single-family homes — who own both their home and the land it is on — hold the property in fee simple, for example. In contras...
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Posted on Jan 28, 2021
Figure out how much you need to save to cover the upfront costs associated with buying a home. For example, have you saved enough to pay the following expenses?
Upfront
• Down payment — the part of the home price that is paid when you make an offer to purchase
• Home inspection and appraisal fees
• Insurance costs — including property insurance, mort...
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Posted on Jan 28, 2021
When financing a home, make sure you’re prepared to deal with any challenges that come up. These can include a loss of income, increased expenses, or rising interest rates. The following tips can ensure you’re financially stable through many ups and downs.
• Choose a smaller mortgage. Get a smaller mortgage than the maximum amount you can afford. T...
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