When Is Your Portable Mortgage Not Portable?

Podcast Episode 25:  “When Is Your Portable Mortgage Not Portable?”

Explains some of the pitfalls of relying on the portability clause in your mortgage. Why your credit track record doesn’t trump bank policy. Consider making your sale subject to achieving an unconditional purchase.

Download the audio file (Mac control + click + “save as” / PC right click + “save as”) HERE.

The full-text version of this Tale from the Trenches can be found HERE.

Contact Barry McGuire now. Alberta real estate needs an Alberta lawyer.

When Is Your Portable Mortgage Not Portable? (Handout)

Text Notes for Podcast Episode 25: “When Is Your Portable Mortgage Not Portable?

Explains some of the pitfalls of relying on the portability clause in your mortgage. Why your credit track record doesn’t trump bank policy. Consider making your sale subject to achieving an unconditional purchase.

Download the handout (Mac control + click + “save as” / PC right click + “save as”) HERE. Continue reading

Fourplex Puzzle (Part Two)

Podcast Episode 24:  “Fourplex Puzzle (Part Two).”

When buying a fourplex or any property with more than one dwelling, you must do at least two things. Number one, check to see that the zoning allows the number of suites. And, number two confirm that the proper permits have been issued and final inspections done. A real property report (RPR) (survey) with the proper zoning stamp is not enough. Checking permits, whose job is this?

Download the audio file (Mac control + click + “save as” / PC right click + “save as”) HERE.

The full-text version of this Tale from the Trenches can be found HERE.

Contact Barry McGuire now. Alberta real estate needs an Alberta lawyer.

Fourplex Puzzle (Part Two Handout)

Text Notes for Podcast Episode 24: “Fourplex Puzzle (Part Two).”

When buying a fourplex or any property with more than one dwelling, you must do at least two things. Number one, check to see that the zoning allows the number of suites. And, number two confirm that the proper permits have been issued and final inspections done. A real property report (RPR) (survey) with the proper zoning stamp is not enough. Checking permits, whose job is this?

Download the handout (Mac control + click + “save as” / PC right click + “save as”) HERE. Continue reading