Home Buying Blogs – Fort McMurray

Home buying advice for Fort McMurray, Alberta residents.

There are currently 14 blog entries related to this category.

4 Steps To Choosing the Right AgentWhether buying a new home or selling an old one, everyone should hire a real estate agent before doing either. However, many buyers and sellers think that all real estate agents are more or less the same, but this just isn't so. All real estate agents are different, and not every buyer and seller will mesh well with every agent, so it’s important for them to know what to look for in an agent. Here are some useful things to do when looking for an agent.

Read Reviews From Past Clients

Just about every real estate agent will try to showcase reviews from their past clients, and in addition, if an agent doesn’t make reviews accessible, it can mean that they’re either very new to the profession or that they don’t get very good feedback from their

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The Facts About Home InsuranceHome insurance is a requirement for most homeowners that can feel very much like an afterthought at the end of a home buying process. When a buyer has been so overwhelmed with everything from the down payment to the closing costs, the last thing they want to do is go through a complicated policy with a fine-toothed comb. However, home insurance is a serious purchase that buyers may want to understand more before they choose a particular level of coverage.

For informational purposes only. Always consult with a financial advisor before proceeding with any real estate transaction.

The Premium

A home insurance company is going to look at the risk factors of the home before they decide how much to charge each client. They'll look at how many

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Closing Costs: What Every Buyer Needs To KnowWhen buying a new home, closing costs are just another part of the process that every buyer has to deal with, so it’s important for buyers to know what to expect from them. If unprepared, it can be easy to be surprised by additional fees and costs, so all people interested in buying a home need to be familiar with how they work. Here is what all home buyers should know about closing costs including everything from why they’re necessary to what they cover, and everything in between.

For informational purposes only. Always consult with a licensed mortgage professional before proceeding with any real estate transaction.

What Are Closing Costs?

Closing costs are the additional fees that need to be paid at closing. How much money closing costs

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4 Tips For Purchasing a Home in a Competitive MarketWhen preparing to buy a home, a buyer may hear terms like “competitive market” or “seller’s market” get thrown around. But what do these terms mean for buyers? A seller’s market is what happens when there are more buyers looking for homes than there are homes for sale, creating a lot of competition among buyers to get one of the homes. As one can imagine, this can make buying a home difficult. However, there are strategies buyers can use to help improve their chances of buying a home. Here are some of the most effective.

For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.

Don’t Wait To Offer

In an ordinary market, buyers typically have time to deliberate

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Home Buying Contract ClausesWhen a buyer makes an offer on a home, they'll usually include a number of clauses in the contract. These clauses, also known as contingencies, help protect the buyer at various stages of the home buying process. These clauses enable the buyer to walk away from the deal penalty-free, if certain conditions are not met. These protections enable the home buyer to determine for certain that the house they want to buy is right for them.

For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.

Home Sale Contingency

The home sale contingency is the clause that states the purchase of the house will only go through if the buyer is able to sell their existing home.

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What Is LMI and How Much Does It Cost New Homeowners?Lenders Mortgage Insurance (LMI) is a specific type of insurance policy provided to lenders to protect them. It's offered just in case the lender defaults on their payments. Learn more about when it's required, why lenders insist on it, and how homeowners can release their responsibility from its payments.

For informational purposes only. Always consult with a licensed mortgage professional before proceeding with any real estate transaction.

The Basics of LMI

LMI is not paid to the insurance company directly by the homeowner. Instead, a homeowner will pay the lender the cost of the policy, and the lender will turn around and pay the insurance company to keep the policy going. As a general rule, all homeowners who are unable to produce a 20%

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Tips for Buying a Brand-New HomeA brand new home is often a symbol for hopeful homeowners who can't wait to start a new life with a clean slate. However, buying a newly constructed home means playing by a slightly different playbook than traditional home purchases. For a better chance at keeping the whole process in perspective, it's time to plan ahead with the following tips.

For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.

Schedules and Deadlines

Construction crews will usually do everything in their power to keep to their original schedule, but there may be unexpected weather delays that derail the completion date of the home. In addition, different provinces may enforce their

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Important Mortgage Facts to Know When Buying a Vacation HomeThe idea of having a separate home to go to when taking a vacation can be really exciting. But for anyone who plans to do this and who plans to buy that home with a mortgage loan, there is important information they need to have. Mortgages for vacation homes are not going to be quite the same as loans for first homes, so asking all the right questions before signing on the dotted line can help prevent significant misunderstandings. Here are the main things any vacation home buyer should know when they start looking for a second home and a mortgage to go with it.

In most cases, the mortgage rates for vacation homes are higher than they are for homes that are occupied as primary dwellings. There are several reasons for that, with one of those

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Move with Less Stress with Our Moving TimelineWhen buying a new home, Canadian homeowners have to carefully plan their move to reduce the potential of headaches. This is not the time for procrastination as much needs to be done well before the moving date. Understand more about the moving process with this useful timeline today.

Start Eight Weeks Before the Moving Date

When scheduled to move, it is best to start the moving process as early as possible, having movers offer binding estimates when at the house. Get more than one quote to get a good overview of the rates offered in the area. In addition, make sure to:

  • Understand how much it will cost if movers also pack up a home
  • Get a written confirmation of the booking and the move date
  • Collect move related documentation in a
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When Is It a Good Idea to Buy a Condo?Condominiums are an intriguing option for those looking to buy a home, rather than continue to rent. Prospective buyers in Canada should be aware of the pros and cons of buying a condo and when it might best serve them to purchase a condo. In some instances, it may be better to wait to buy a condo or condominiums may be the only option available in a competitive market.

Changing Condo Values in Canada

Local markets may be bucking larger real estate trends. Prospective buyers know that condo values have fallen in previous years in areas like Toronto. How might this impact prospective buyers? One may want to carefully consider the type of property purchased and home value trends if maintaining or increasing its value is of importance. Do realize

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