Is Your RRSP Mortgage Legal?

Podcast Episode 108:

“RRSP Mortgages and the CRA.”

Registered Retirement Savings Plan (RRSP) mortgages, the supposed Holy Grail of private lending. I hear it all the time. Borrowers of all stripes believe there is a vast pot of money held in RRSP accounts just waiting to be lent to them. And, to some extent, that’s true. There are lots of folks with lots of RRSP money tucked away. Maybe you’ve thought about leveraging your RRSP to become a lender yourself.

But, like everything else run by the government, there are rules to follow if you want to lend your RRSP money as a mortgage.

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How to Lose a Deposit: Unmet Conditions Can Sink a Real Estate Deal

Podcast Episode 107:

“Conditions, Lost Deposits,
and Collapsed Deals.”

In other Tales from the Trenches I’ve talked about the importance of accomplishing sufficient diligence on any property purchase to say that you have done ‘Due Diligence.’ It’s worth repeating here because it’s so important. The notion of doing or accomplishing your own Due Diligence is what allows you to make a buying decision. Will you buy or not buy? In this Tale, a deal falls through because of a lack of diligence regarding financing conditions.

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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.

Plan B $$$

Podcast Episode 48:
Plan B.

Money and financing are essential parts of any real estate transaction. Always make sure to have a backup in order to make sure that you can still close a deal… just in case your first choice for financing dissolves!

Download the audio file HERE and the text/handout HERE.
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Mortgage Madness

Podcast Episode 47:
Lender Lessons.

Let’s look at five different aspects of ensuring financial success for your real estate business. Banks like things plain and simple. You need to deal with conditions on a mortgage and names on the title before you can close. Make triple sure you are unconditional before removing ‘subject to’ from your contract. You also need to make sure to disclose to your lender any ‘creative’ approaches to investing.

Download the audio file HERE and the text/handout HERE.
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Financing Facts

Podcast Episode 46:
Current Realities.

Lending policy changes, as does the interpretation of existing rules and regulations. Make sure you stay on top of the current situation with your lender, the government, and market conditions.

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Mortgages and Related Security… How Are You Liable? (Part 9 of 9)

Podcast Episode 9: “Mortgage Basics 9/9 – True and False 3.”

The final installment of how mortgages work in Alberta including discussions of conventional mortgages, high ratio (CMHC) mortgages, personal guarantees, enforceability, assumptions and foreclosures. Also includes 10 very useful true and false questions and an explanation of the court process around a foreclosure.

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.

Mortgages and Related Security… How Are You Liable? (Part 8 of 9)

Podcast Episode 8: “Mortgage Basics 8/9 – True and False 2.”

A continuation of how mortgages work in Alberta including discussions of conventional mortgages, high ratio (CMHC) mortgages, personal guarantees, enforceability, assumptions and foreclosures. Also includes 10 very useful true and false questions and an explanation of the court process around a foreclosure.

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.

Mortgages and Related Security… How Are You Liable? (Part 7 of 9)

Podcast Episode 7: “Mortgage Basics 7/9 – True and False 1.”

A continuation of how mortgages work in Alberta including discussions of conventional mortgages, high ratio (CMHC) mortgages, personal guarantees, enforceability, assumptions and foreclosures. Also includes 10 very useful true and false questions and an explanation of the court process around a foreclosure.

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.

Mortgages and Related Security… How Are You Liable? (Part 6 of 9)

Podcast Episode 6: “Mortgage Basics 6/9 – Corporate Mortgages and Personal Guarantees.”

A continuation of how mortgages work in Alberta including discussions of conventional mortgages, high ratio (CMHC) mortgages, personal guarantees, enforceability, assumptions and foreclosures. Also includes 10 very useful true and false questions and an explanation of the court process around a foreclosure.

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.