Buy Low, Sell High Is Still Smart; Here’s Why.
Trying to answer the question ‘should I buy now?’ is universal in the real estate world. Normally I write about Alberta real estate because I’m an Alberta lawyer, but I don’t think it matters if you live in Edmonton or New York, Calgary or London. It also doesn’t matter if you’re buying a home or looking for an investment property; their home is many folks’ biggest investment, so it’s smart to think like an investor.
People who want to own property have to make a calculated decision about when to buy. Obviously, there are lots of things that go into your decision-making, but let’s chat about something very important: the condition of the real estate market. Continue reading
If You’re Getting a Mortgage or Have an Existing Mortgage, Then You Need a Lawyer to Buy or Sell a Home in Alberta.
The legal requirements surrounding mortgages in Alberta demand a lawyer, but an attorney protects your interests and manages many important details in a real estate transaction. Once you have a Purchase Contract, it’s time to get a lawyer, however it can help to have one much earlier in the process to make sure things go smoothly. Below is a list of all the things that my Edmonton law firm, RMLO Law LLP, takes care of so that our clients can focus on getting ready to change homes. As you’ll see, there’s a lot to do, which is why the process takes time. Buying and selling are bit different, but they both take time. The end of this blog post also has a bunch of frequently asked questions.
Plugged Pipes = Pricey Problem!
Spending a beautiful afternoon in my garden, I was watching EPCOR (City of Edmonton Drainage Branch) dig up the road in front of my house. Hard water deposits over the years had almost completely blocked the existing water pipe.
The EPCOR guys said that in older neighbourhoods, along with the constricted water pipes you also have to watch for plugged sewer/drainage pipes. Those pipes leak and tree roots love to find a leak and grow into the pipe, sometimes resulting in a total blockage.
EPCOR takes responsibility for replacement of the water pipe and clearing out the roots or installing a new sewer/drainage pipe at their cost. However, they only replace the pipes that run from their main pipe to the property line. Blockages don’t stop at the property line. Not surprisingly, you are responsible for blockages from your property line to your home (the homeowner’s portion). Big ticket items like this could be very, very expensive! Continue reading