Edmonton Real Estate Blog

5 Tips for Buying a Home in the Seller's MarketBuying a home can be tricky at the best of times. It is often even harder in a seller's market. A seller's market means that there are more buyers than available homes. Seller's markets usually lead to higher sale prices and can even prompt bidding wars among competitive buyers. Still, buyers have a chance to make it through with a fair deal. Here's a few tips to help people rise above the competition as they prepare to buy a home.

For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.

Get Finances in Order

When sellers start to consider purchase offers, they are often looking for the most qualified buyers. People who have gone through the process of

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How to Take Care of Unpermitted workRemediating unpermitted work is the process of getting a home up to code. If the previous homeowners made repairs or renovations that violated neighborhood or province laws, current homeowners need to take steps to qualify the work with the proper authorities. As much as 70% of the work done in Canada may be unpermitted, so the vast majority of homeowners should take note of the following facts.

For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.

Research the Laws

Not only do different provinces have different rules about which jobs require permits, but those rules can change from year to year. If the previous homeowner tore down a wall in their

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Foundation Damage Information for HomeownersFoundation damage can cause a variety of problems for homeowners. Home renovations are hard or impossible to complete when the foundation is not straight and stable. In addition, foundation damage can devalue the home and make it harder to sell. It's important to be able to identify the signs of foundation trouble in a West Edmonton home and take care of the problem before it's out of control. These tips can help.

How Can You Identify Foundation Damage?

Some signs of foundation damage are very obvious, other signs are less so. Some of the most obvious signs of foundation damage include:

  • Stair stepping cracks in the foundation mortar
  • Horizontal cracks in the foundation
  • Bowing walls
  • Large cracks in the walls in the basement,
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Top Things to Throw Away Before You MoveWhen a couple is getting ready to buy and move to a smaller home, it can be hard to decide what stuff to keep and what to give away. This guide can help people identify a few types of clutter that they can part with without feeling regret:

Unused Kitchen Gadgets

Many people tend to pick up more kitchen equipment than they will ever use. When preparing for a move, aspiring downsizers should take careful note of which implements they reach for most. Any that do not get used regularly should be donated.

Rarely Worn Clothes and Shoes

Large collections of rarely used items plague many people's bedroom closets, as well. Crafting capsule wardrobes with small, high quality collections of related objects can help cut down on possessions that do

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Your Guide to Selling PapersThe paperwork of a home sale can be difficult to wade through for those who aren't familiar with real estate. Not only is it time-consuming, but it's also confusing to interpret the many terms and contingencies that lace through practically every form. Those who want a relatively quick and easy escrow process should have an idea of their obligations so they can speed their closing date along.

For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.

Clean Title

Home buyers are justifiable to demand a clean title before purchasing a home. The last thing they need is for a bank to show up with a lien on the property or an ex-spouse to claim the property is

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Don't Underestimate the Value of Hiring a Real Estate Agent When Buying a HomeHome buying is an involved and often complex task, and hiring a real estate agent to lead the effort can provide buyers with peace of mind and the home of their dreams. Indeed, most agents charge a six percent or higher fee on the sale price, but their invaluable services make that expense seem rather small in the long haul for a number of reasons.

For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.

Agents Have Access to Unknown Homes on the Market

Hiring a real estate agent may give buyers the chance to see homes they would miss otherwise. Some home sellers opt to sell quietly and don't publicly list their homes on MLS sites or by traditional means.

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Do You Need to Pay LMI?Some potential home buyers may only be concerned about how much their mortgage payments will be, without realizing some of the additional fees and payments that may be serve to inflate their monthly payments. Those who are looking to be approved for a home mortgage loan should be aware of LMI, and how a fraction of the monthly payment made include this recurring expense.

Understand more about LMI and where your monthly payments will go today.

For informational purposes only. Always consult with a licensed mortgage professional before proceeding with any real estate transaction.

What is LMI?

Lenders mortgage insurance, or LMI, is a type of insurance required from Canadian lenders when taking out a home mortgage loan. Any payments made go

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How to Purchase a New Construction HomeNew construction homes are the ultimate blank slates for homeowners and their families, but they're also a brave new world for buyers who are used to traditional home sales. Not only are the expectations different when it comes to a new home sale but the negotiation strategy will need to be adjusted as well. Learn more about the timelines, contracts, and research a home buyer has to do to avoid making mistakes.

For informational purposes only. Always consult with a licensed mortgage professional before proceeding with any real estate transaction.

Schedules and Delays

Even in an age of communication, it's not always easy to coordinate schedules or meet deadlines. A newly constructed home has multiple players involved that could delay the

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How Taxes on Vacation Homes WorkThe tax laws in Canada are going to put up a few hurdles for homeowners ready to sell their vacation or second home. From capital gains to depreciation, it's clear those with second homes bear a heavier burden than their primary homeowner counterparts. Before officially listing a Sherwood Park home, it helps to have any idea of what the taxes will be like before pulling the trigger.

For informational purposes only. Always consult with a financial advisor before proceeding with any real estate transaction.

Capital Gains of Second Homes

Capital gains or losses refer to the appreciation or depreciation of any given asset from the time it was purchased to the time it was sold. A home purchased for $50,000 and sold for $200,000 would have a

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Consider Ongoing Financial Commitment Before Buying Second HomeA second home or vacation retreat can be a wonderful idea as well as a smart financial decision. But the mortgage qualification guidelines can be more stringent than those for a primary residence. Here's what to know, some points to consider and things to think about before you begin the search for another property:

For informational purposes only. Always consult with a licensed mortgage professional before proceeding with any real estate transaction.

Financial Basics

Many good reasons exist for buying a second home in addition to the desire for a vacation getaway. It may be that a condo in another city could be used for business as well as pleasure, or a second home might be the perfect answer to housing for a college student or

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