Teaching legal update across the province, I often notice regional differences in how real estate transactions are done A couple of the questions I am often asked is “do I really need to have a subject condition for legal advice in every transaction Or… what is the difference between a lawyer and a notary”Wha...
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In the last few weeks the Kelowna Real Estate market has seen a dramatic increase in sale activity (see OMREB stats here) and in some sectors of our market (particularly single family homes under 500k) signs of a "Sellers Market" have begun to emerge (see my January post here)The rather quick shift from a Buyer's M...
Continue ReadingThe end of June is "high season" for residential real estate closing As the school year comes to the close and the weather turns warmer, people want to get the "business of moving" done prior to enjoying summer holidaysThere are a couple of unique considerations for Kelowna Real Estate at this time of year, all of ...
Continue ReadingUnder the Strata Property Act, a Contingency Reserve Fund (CRF) is established to pay for extraordinary expenses, but under the Act, the amount in the CRF was established by a formula (which had NO relationship to the age of the building!) Furthermore, the amount of contribution to the CRF was CAPPED, unless an ¾ vo...
Continue ReadingHome Insurance is a requirement of every residential mortgage, however having an effective home insurance policy is a good practice for all homeowners Under the standard Contract of Purchase and Sale, the BUYER is liable for all RISK in the property as a 12:01am on the CLOSING DATE The take home point here is that your...
Continue ReadingMy mum's family is from Edmonton and I had the fortune of going to the University of Alberta in Edmonton for 10 years Although I enjoyed the great people I met in Alberta, I was always drawn to come back home to KelownaKelowna Real Estate has a special allure for many Alberta buyers for many good reasons, a few of ...
Continue ReadingAs spring is turning into summer, the Kelowna Real Estate Market is heating up with lots of activity As a consequence of the recent market cycles many Sellers have wisely taken a "Sell First" then buy approach to their home purchase The result of this is that many "Buyers who have Sold" are looking to purchase immediat...
Continue ReadingYou have toured lots of homes and gone through all the negotiations and home inspections, you've signed a contract and gotten your financing approved now what do I doFor home buyers and sellers, this can be a big question, hopefully this blog helps with some answersAsk your Realtor to Submit ContractOnce all s...
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