Timing in Real Estate: The Key to Avoiding Extra Legal Fees

Purchasing a New Home:
What Could Go Wrong?

Timing! I keep blogging about timing because it is one of the biggest problems for real estate transactions. Issues with timing are hugely stressful; they are the most common reason for an increased legal account. And, no one likes to pay more in legal fees than they thought they were going to have to pay!

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Don’t Buy a Renovated Home Until You Watch This Video!

DIY vs. Pro Home Renovations in Alberta.

Both professionals and amateurs can do renovations, but what does that mean for a potential home-buyer? Permits and inspections are one side of it. Then there’s the issue of quality. In this video, lawyer Barry and realtor Keith discuss the potential pitfalls in purchasing a renovated property in Edmonton, Alberta.

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What to Look for When Buying a Renovated Property

Legalities of Edmonton Renovations, Permits, and Home Inspections.

Barry and realtor Keith Faria discuss what people need to look for when purchasing a property that has been renovated. In this video, you’ll hear why the renovation needs to be inspected twice, as well as how to make sure everything is safe and legal.

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Permits in Real Estate Contracts

Why Are Permits Important in Purchase Contracts and How Do They Affect the Buyer?

Barry and Keith continue their discussion about Alberta real estate, delving into how to deal with permits in purchase contracts. In this video, you’ll hear why just having a permit isn’t enough!

 

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Legal vs. Illegal Rental Suites in Edmonton

house with cash register

“Basement Suites and the Abominable Snowman.”

Why are basement suites like the Abominable Snowman? Because they don’t exist, at least not in the City of Edmonton, Alberta.

My client Jane was excited when she saw the advertisement, “beautiful, 3-bdrm bungalow with spacious 2-bdrm basement suite.” As part of due diligence, Jane went down to City Hall in Edmonton, and visited the Planning and Building department.

“Tell me about basement suites,” said Jane to the friendly development officer. Continue reading

Illegal Suites

illegal suites

Podcast Episode 44:
Illegal Suites Are Everywhere.

People often add onto or subdivide their properties, which can make diligence tricky for investors. Did the seller have a permit for a secondary suite? If so, did they actually build what they were supposed to? You need to figure these things out before purchasing or else you might not be able to use that extra suite.

Download the audio file HERE and the text/handout HERE.
(control click or right click + save as). 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