Things to do and not do before closing: What happens at closing in Edmonton?
Closing day is the same as possession day. It’s the day that the buyer’s lawyer sends the funds to the seller’s lawyer. The seller’s lawyer will pay out any mortgages, liens, lines of credit, etc which are registered against the property. They will then make an application to Land Titles to have the title transferred […]
How to Save Money on Home Closing: What are the closing costs on a house in Edmonton?
Under provincial laws, there are no land transfer taxes, instead, you must pay a land transfer fee when closing on a home in Edmonton. Other expenses include the appraisal fee, a down payment, mortgage fees, and expenses included in the contract. If it is your first time buying a home in Alberta, you may apply […]
How to close a real estate deal in Edmonton with or without an agent
In Alberta, the simplified purchase process is as follows: (1) The buyer makes an offer. (2) The seller accepts the offer and signs the contract. (3) The escrow amount clears. (4) The parties exchange all necessary documents. However, complications may delay closing for days, weeks, or even months. To avoid delays in closing when buying […]
What Should You Consider When Choosing Your Move-out Date?
Whether it’s called a move-out date, possession date, closing date, or completion date, they all refer to the big day regarding your sale. It’s the day that the seller gets their sale price, and the buyer gets their new home. Choosing your possession date is traditionally negotiated between the buyer and seller. Often the possession […]