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.

Real Estate Investment Leaders

We are who we associate with,
and success breeds success.

Ahead our upcoming Agreements for Sale (AFS) Focus Workshop on February 18th, we’re giving you a chance to get to know some our amazing Focus Team Leaders. The hour-long audio recording below is from a breakout session at a previous workshop. It features the background stories of regular folks who are doing amazing things with Creative Real Estate Investment, as well as Q&A with them. These are some of the people who will be helping attendees learn to achieve their financial goals on February 18th in BC. There’s also an outline of the idea behind Agreements for Sale, and why it’s a great Creative Strategy for investing in a down market.

Continue reading

When to Remove Conditions on a Purchase Contract

Podcast Episode 90:
Diligence Pays Off.”

I’ve said it before and I’ll say it again: when you’re buying a property, never remove conditions on the purchase contract until you’ve done due diligence. A real estate lawyer like me can protect your interests and help you negotiate a better deal, but I can only work with the documents and evidence available. In this Tale, our investor was working on buying a multifamily rental property. Unfortunately, there were many discrepancies with the contents of units as well as with the estoppel certificates (aka rental confirmations forms). Good thing they didn’t remove conditions before they finished their diligence!

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

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

Exercise That Diligence” image by Alan Levine used under CC Attribution 2.0 Generic.

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…

Continue reading

Why Do I Need a Lawyer in a Real Estate Transaction?

Focus on Real Estate: Quick Tips.

In this video, Barry explains what a lawyer does for you when you buy or sell real estate. Below are two of the highlights. If you need an Edmonton real estate lawyer, get in touch with Barry at RMLO Law LLP.

  1. A buyer’s attorney prepares the mortgage documents that lenders won’t let borrowers prepare themselves.
  2. A seller’s lawyer manages the money in a transaction to make sure that all outstanding debts or taxes are paid, which mean the seller receives their cash with no strings attached.

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.

If you’re buying or selling real estate in Alberta, contact Barry now!

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

Transferring Property Without a Lawyer

Podcast Episode 89:
Transfer of Land.”

A Transfer of Land is a document that allows the Land Titles office to register a property in the name of a new owner. In rare circumstances, you might be able to get this done without seeing a lawyer. In this Tale, our investor got a Transfer of Land from a highly motivated seller. Luckily, he also knew what other critical things he needed to do and who he needed to talk to in order to make the transaction go smoothly. This strategy doesn’t come up too often, but when it does, you need to know what to do so you can act quickly.

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

Looking for a lawyer to help with buying or selling property in Alberta? Contact Barry now!

“Keys” image by Merio used under CC0 1.0 Public Domain.

Tenant Running Illegal Business

Podcast Episode 88:
I Ain’t No Ho!”

As a landlord, you need to be proactive about what is happening with your tenants. Be concerned if you suspect that a renter may be running an illegal business out of your property! This Tale is short and sweet because our investor took action as soon as they found out a tenant was on the wrong side of the law. Do you know what’s going on in your rental properties?

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

Need an Alberta real estate lawyer in Edmonton? Contact Barry now!

“Merrymakers in an Inn” painting by Simon de Vos is public domain. Image from Wikimedia.