Agreements for Sale Workshop

Barry McGuire’s Focus Series Presents:
Agreements for Sale Focus Workshop

Saturday, June 17th, 2017  ** PLEASE NOTE DATE CHANGE **
Full-day event: 8:30 am to 5:30 pm

Element Vancouver Metrotown
5988 Willingdon Avenue
Burnaby, British Columbia, V5H 2A7, Canada

Dear Real Estate Investor,

Have you:

  • Hit the ‘financing wall’ and banks are denying you more mortgages?
  • Ever required an infusion of cash into your real estate business?
  • Found the ‘deal of the century’ and had to walk away because you did not have access to the capital to buy it?
  • Wanted to buy properties with little to no money down?
  • Been looking for purchasing alternatives to the bank?
  • Heard about no money down real estate and wondered if it was true?
  • Wanted to buy more properties, but just aren’t sure how to get past your first one or two?

If you answered yes to any of these questions, then please read on…

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Why Does my Real Estate Lawyer Need my ID?

Focus on Real Estate: Quick Tips.

In the last video, identification was mentioned as one of the things to bring to your lawyer’s office when closing a real estate deal in Alberta. Why is that? Doesn’t your lawyer already know who you are? Basically, new rules are in place for documenting big transactions like buying or selling real estate because of increased concerns about money laundering and terrorism. In this video, Barry explains the details so you’ll remember to bring your ID! Choose Edmonton’s RMLO Law LLP for flat-rate legal fees on basic real estate deals. Get in touch now for a no-obligation consultation!

This is the next instalment of Focus on Real Estate with Barry C. McGuire, a series of videos covering quick tips on the legal side of buying and selling real estate in Alberta.

If you’re going to buy or sell real estate in Alberta, you need a trustworthy veteran lawyer. Contact Barry using the form below.

Videos co-produced by the Real Estate Investment Network (REIN) as a Google Partner.

What to Bring During Closing of a Real Estate Deal?

Focus on Real Estate: Quick Tips.

During the closing of a real estate deal in Alberta, what does the buyer need to bring to their lawyer’s office? For most people buying a house, bungalow, or home, they will need to bring identification, insurance, and certified funds. In this video, Barry explains what these things are in terms of finalizing all the paperwork to purchase a property.

To find out what “closing” means in Alberta real estate, view the previous video in this series by clicking here. If you need an Alberta real estate lawyer in Edmonton, contact RMLO Law LLP for a firm that cares about its clients and offers flat-rate legal fees.

This is the next instalment of Focus on Real Estate with Barry C. McGuire, a series of videos that answers common questions about buying and selling real estate in Alberta.

If you’re going to buy or sell real estate in Alberta, get an experienced lawyer that you can trust. Contact Barry using the form below.

Videos co-produced by the Real Estate Investment Network (REIN) as a Google Partner.

Real Estate: What Happens at Closing?

Focus on Real Estate: Quick Tips.

“Closing” is the final step of a real estate transaction. In Alberta, closing means that the Land Title has been transferred from the seller to the buyer. There is a lot of paperwork involved, which is one reason why having a real estate lawyer is a good idea. In fact, you are legally required to have a lawyer process mortgage documents because an individual is not allowed to do this for themselves.

Focus on Real Estate with Barry C. McGuire is a series of short videos that answers frequently asked questions about real estate in Alberta.

Use the contact form below to send a message to Barry McGuire, Alberta real estate lawyer.

Videos co-produced by the Real Estate Investment Network (REIN) as a Google Partner.

Removing Conditions on Purchase Contract

Podcast Episode 94:
“Removing Conditions—Should I or Shouldn’t I?

Conditions on a real estate purchase contract should only be removed once the due diligence is complete. But what if the conditions are sort of met, but not completely? Should you still remove conditions if the property seems good, the numbers appear to work, and due diligence is more-or-less done? In this Tale, our investor removed conditions even though they only had verbal assurances about rent and utilities, rather than the written tenant information that was supposed to be part of the deal. As you can probably guess, things weren’t what they were supposed to be, but the deal was already done by the time our investor figured out what was really happening! Listen to the audio to get Barry’s take on strategies for dealing with this sort of situation.

Download the audio file HERE.
(control click or right click + save as)

If you’re buying or selling a home in Alberta, you need an experienced lawyer that you can trust. Get in touch with Barry now!

“3D Realty Handshake” image courtesy of Scott Maxwell. Used under Creative Commons Attribution-Sharealike 2.0.

What Information is on a Land Title or Deed?

Focus on Real Estate: Quick Tips.

In Alberta, real estate is registered with the Land Titles Office, whose documents are public information. That means that if you pay a bit of money, you can call up the title (also known as the “deed”) for a piece of property that you may be interested in buying. The document contains valuable information. You can use it to find facts about the property, the owner, and any things that might be registered against that title, like a mortgage. In this video, Barry gives you a brief introduction to the information found on an Alberta land title.

Focus on Real Estate with Barry C. McGuire is a series of short videos that provides helpful information about Alberta real estate.

Use the contact form below to send a message to Barry McGuire, Alberta real estate lawyer.

Videos co-produced by the Real Estate Investment Network (REIN) as a Google Partner.

Property Inspections, Reports, and Permits

Podcast Episode 93:
“Inspection Reports & Multi-family Diligence.”

Under Alberta’s Residential Tenancies Act, an inspection report must be made whenever a tenant moves into, or out of, a rental property.  But what happens if you buy a property and can’t get the in/out report? Similarly, building permits for multi-family dwellings specify their maximum number of units. What happens if you buy a building that has illegal suites? This episode of Tales from the Trenches explains the legal issues of both inspection reports and occupancy permits in Alberta.

 

Download the audio file HERE.
(control click or right click + save as)

Use the form below to contact Barry McGuire, veteran Edmonton real estate lawyer.

“3D Home Inspection Big Check” by http://www.ccpixs.com/ used under CC Attribution 2.0 Generic.

What Is Tenancy-at-Will?

Focus on Real Estate: Quick Tips.

Sometimes people buying a home need to get access to the property even though completion of the sale has been delayed. For example, if a person needs to move out of their old home or if utility connections have been scheduled for a certain day. Tenancy-at-Will is a way of getting access to a property before the purchase is completed, which is explained in this video. If you need an Alberta real estate lawyer in Edmonton, get in touch with Barry at RMLO Law LLP.

This is the next instalment of Focus on Real Estate with Barry C. McGuire, a series of videos that provides bite-sized pieces of real estate knowledge.

Buying and/or selling real estate in Alberta? You need a lawyer and Barry can help. Contact him now!

Videos co-produced by the Real Estate Investment Network (REIN) as a Google Partner.

Joint Ventures, RRSP Mortgages, Due Diligence, & More!

Podcast Episode 92:
A Few Quick Tales.”

Here’s some great stories about people buying and selling real estate in Alberta. These five quick Tales from the Trenches are short, but they show a wide range of different issues, problems, and successes.

In a joint venture, it’s always nice when a more experienced investor can help out someone who’s just getting started, which is the subject of the first Tale. The second deals with rules surrounding RRSP mortgages. Did you know that the money needs to be at arm’s length from the person whose RRSP it is? The third Tale is about Alberta Health’s Minimum Housing & Health  Standards. I’d recommend anyone looking to buy real estate in Alberta take a look at these (available HERE), especially if they want to rent out the property. The second last Tale is about seller’s warranties. They can be hard to enforce, and so due diligence with things like fire safety searches is important before committing to buy. Finally, a real estate deal that is too good to be true can have hidden problems. It might still be a good deal, but it’s best to look a gift horse in the mouth by still doing your due diligence.

Download the audio file HERE.
(control click or right click + save as)

If you’re buying or selling real estate in Alberta, get yourself an experienced Edmonton lawyer. Use the contact form below!

House/Home Inspection” image by Mark Moz used under CC Attribution 2.0 Generic.

Giving Keys to a Buyer & Fixed Cash Deals

Podcast Episode 91:
Keys & Cash.”

Here are two quick Tales from the Trenches: 1) tips on keeping a property buyer motivated and 2) contract language to fix the cash portion of a real estate deal.

Our first Tale shows one reason why a real estate deal can close late. Even when investors have good relationships with their buyers, I say hold onto the keys to the property until everything is finalized. That’s a “key” to motivating your buyer to hurry up!

In the second Tale, our investor had a great deal, with the seller agreeing to carry a second mortgage on the property. But when the assumption statement came back less than the first mortgage was supposed to be, our investor got caught paying the difference. You can fix the cash in a second mortgage or vendor take-back financing scenario, but this needs to be written into the contract.

Download the audio file HERE.
(control click or right click + save as)

Barry McGuire is a real estate lawyer in Edmonton, Alberta. Use the form below to get in touch.

House and Keys” image by geralt on Pixabay used under CC0 1.0.

What is an Encroachment?

Focus on Real Estate: Quick Tips.

In this video, you’ll find out what an encroachment is, and what types of encroachments there are. If you need an Edmonton real estate lawyer, get in touch through RMLO Law LLP.

Straight to the point, there’s no filler in the Focus on Real Estate with Barry C. McGuire series of videos.

Hire an experienced real estate lawyer in Edmonton, Alberta. Use the contact form below!

Videos co-produced by the Real Estate Investment Network (REIN) as a Google Partner.