Every condo corporation is obligated to get a reserve fund study done every 5 years. This study must ensure that the funds are sufficient for future maintenance needs. However, unless you keep renting, there is never a 100% guarantee you will avoid a special assessment. It is one risk of ownership. Can you avoid a… [Read More]
Special Assessment Condo
It’s a very unfortunate development here in Calgary, but more and more often we run into condo buildings with special assessments. Old buildings, and even newer buildings, are subject to special assessments. In this article, we will try to pass on more information on this ‘subject of hell’. What is a special assessment? Just a… [Read More]
Contracts and special assessments
As mentioned in an earlier post about special assessments, we see special assessments coming up in Calgary condos more and more often. Sometimes we talk to people who only want to buy new, to avoid any chances of an assessment. But also newer buildings can get hit with a notice of assessment. In this case… [Read More]
Property assessment vs asking price
At times, we meet people who want to sell their home and want to use the value on their property assessment to determine the selling price of their home. We also meet buyers who compare the asking price of a home with the property assessment by the city of Calgary. There are a few reasons… [Read More]
Home value Calgary
Despite all technology, getting the value of your home is NOT an instant option; it is a marketing trick. Many ads promise you instant result, but next thing you know, you get bombarded with calls and emails. Yes, 5000 Calgary realtors are hunting for your business! We are known for being straightforward, and here are… [Read More]
Calgary Home Value
Despite all technology, getting the value of your home is NOT an instant option; it is a marketing trick. Many ads promise you instant result, but next thing you know, you get bombarded with calls and emails. Yes, 5000 Calgary realtors are hunting for your business! We are known for being straightforward, and here are… [Read More]
Sale of buyer’s home condition part 3
Buying and selling in the same time frame. What are the advantages and disadvantages of the ‘sale of buyer’s home’ condition? The ‘sale of a buyers home’ clause in real estate is a more complex condition. In a nut shell we tried to pin-point 3 important facts in the first article about the sale of… [Read More]
Sale of buyer’s home condition part 2
As explained in the first article about the sale of buyer’s home condition, when you buy a home and present the sellers an offer with the condition ‘sale of buyers home’, there are several very important factors you need to consider. We cannot emphasize enough that any buyer and seller must discuss every point and… [Read More]
Sale of buyer’s home condition
Selling your home before buying another home? It will depend on everyone’s financial position. Some people can afford to carry two mortgages for a short time. Sometimes clients have to get bridge financing. However, bridge financing is expensive. You will have to talk to your mortgage broker or banker about your options. And you will… [Read More]
The Best Asking Price for your Home
Setting the best asking price for your home that reflects current market values will help sell your home quickly and for top dollar. When you price your home properly, you increase the chances that you receive offers closer to asking price. You may even receive multiple offers, resulting in netting more then your asking price. Odds… [Read More]
Bareland Condominiums in Calgary
We all understand the condominium structure. A condominium can be a high-rise, a low rise, a town home complex. But there are also detached single family homes that are located on lots that are considered condominiums. In this case, they are called bare land condominiums. And also with these structures, you have to pay condo… [Read More]
Overpricing, is it possible?
Currently, in Calgary, the real estate market is a seller’s market. We do notice that sellers believe they can easily overprice their homes. Our belief is that is not true. Today, buyers know much more, thanks to the internet. Our belief is that overpricing may have negative consequences. Read our post on why you should… [Read More]