Ridout Barron

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Posts tagged "Real Estate"

Why real estate buyers place conditions in Offers to Purchase

When buyers in Alberta are interested in purchasing property, they may not realize the different ways in which they can protect their interests. The first step in buying real estate is to write an Offer to Purchase. That offer can include several conditions to be met before it becomes a firm offer.

Real estate: Considerations when selling a business in Alberta

Selling a business in Alberta could be a complicated process with several matters to consider. As with other real estate dealings, the support and guidance of legal counsel can ensure that nothing is left unattended. When a business is closed, tax-related matters to address will include contacting the tax services office to cancel the business number and close the GST/HST account. The payroll account must also be closed if the business had employees.

Real estate: New condominium regulations include rental deposits

Condominium owners in Alberta may be aware of the condominium governance regulations that were revised and came into effect at the beginning of this year. An experienced real estate lawyer can answer questions about the new rules. One of the revised regulations involves rental deposits that were formerly known as security deposits.

Current real estate trends don't affect Alberta

One of the largest and most important purchases someone can make is buying a house. Purchasing real estate means making a substantial investment that will likely affect one's life for decades. Nevertheless, it can be an exciting time for an individual or family to find the perfect home and make it uniquely theirs. Those in Alberta looking to buy a home may be pleased with the current market trends.

Real estate: What happens with a tenant's abandoned goods?

Owners of rental properties in Alberta often have to deal with goods left behind after tenants abandon a rental unit or vacate the property after the expiration of the lease. This could be a dilemma because the real estate owner has to comply with the Residential Tenancies Act, which sets out the steps a proprietor must take. Each situation is unique, and the property owner must be sure that the tenant has no plans to return before the goods can be deemed abandoned.

Real estate: What are material latent defects?

Anyone in Alberta who considers selling his or her house might have questions about the process. The seller in a real estate deal has several obligations, one of which is the disclosure of material latent defects. But what are they? Material latent defects are physical defects that are invisible to the real estate agent and prospective buyers.

What to include when writing an offer to purchase real estate

Purchasing a home is typically an exciting endeavour for anyone. However, people in Alberta should not let the excitement cause them to lose sight of the importance of a well-written purchase offer for real estate. Such a proposal must contain the value of the offer along with the amount available for a deposit. The next step would be to list the terms and conditions of the purchase offer.

Real estate and your right to know about material latent defects

Buying real estate In Alberta is typically an exciting process, but it can turn into an unanticipated nightmare. Sometimes a seller will go to great lengths to hide defects that might jeopardize the sale. However, some laws require real estate sellers and their agents to disclose any material defects. Professional building inspectors can even miss some of them.

Real estate: Why seller financing could be a scam

When property deals in Alberta involve seller financing, it might be a red flag. In real estate, seller financing opens up opportunities for sellers or agents to commit fraud. This option involves the seller offering the property for sale with the buyer making monthly payments. If the seller owns the property outright, it could be compared to a rent to own transaction, in which the buyer could ultimately own the property. Otherwise, the monthly payments would be used to pay the existing mortgage, but this in itself is fraud because the mortgage holder owns the property until it is fully paid, which means the property could not be sold.

The crux of commercial real estate lies in contract negotiation

For tenants and landlords in Alberta, the critical point is skillful negotiations. This is a particularly important part of deals that involve commercial real estate. In far too many cases, the eagerness to sign a contract can make the agreement a less profitable experience for that party.

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