Edmonton Real Estate Blog

What Should Home Sellers Watch Out for?Home sellers are often treated with a certain amount of distrust from the home buyers. This is partially because the buyers have been heavily cautioned by their real estate agent to take what the seller says with a grain of salt. But sellers also have to be careful when they're negotiating with buyers. Here are a few red flags to watch for so sellers are less likely to waste their time.

No Backup

A buyer who just started home shopping and doesn't have a real estate agent yet is likely someone who's just looking around for the moment. It's not to say that they won't unexpectedly fall in love with the home immediately, only that it's unlikely they'll make a serious offer. As a rule, most buyers take about three months, so the first seller's home

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Homeowners looking to put their home on the market are not going to immediately run and turn off their utilities when they list the property. Sellers generally need electric, gas and heat up until the day they move out.

Have you ever thought about what happens to your utilities when you sell a home? In the interest of saving money, you probably want to turn those utilities off. Unfortunately, that isn't really how the world works. Just because you stop living in a home, it does not mean you can stop paying the utilities for it.

Why Turning Off Utilities Could Be Bad

Electric MeterThe problem with ceasing to pay utilities is the fact that it can cause damage to the home. Think about any appliances in the home. You also have to think about the weather

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Selling a Home With Unpermitted Work

Unpermitted work is often a headache for new homeowners when it is uncovered. Arising when home improvements are done without seeking proper permitting and documentation, unpermitted work may lie behind the walls of a home, making it hard for a home inspector to see indicators of this issue. A new homeowner who uncovers such a problem may then be responsible for such work if it continues to go unaddressed while they reside in a home and when they may decide to list a home for sale. Unpermitted work is a problem. What should homeowners who find unpermitted work do about it?

There are times when unpermitted work may need to be removed. However, it may be possible to get a permit after such work is performed or even have certain responsible parties

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What You Need to Know About Foundation DamageFoundation damage, when there are cracks and crumbled areas in the concrete foundation in a home, can make life very hard for homeowners. As this type of home maintenance problem causes instability, it can prevent a homeowner from remodeling their home or making improvements, and it compromises the overall integrity of yourself. Foundation damage can also make a home hard to sell. Knowing what foundation damage looks like, how to get a good diagnosis and how to repair foundation damage can help homeowners to protect their property.

What Does Foundation Damage Look Like?

Foundation damage can take different forms and may present different symptoms. For some homeowners, the signs may be subtle. Doors and windows that become jammed shut or open,

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How to Organize Your Paperwork for a Home SaleThe paperwork for a home sale will be different depending on the province in which you live and what type of home you're selling. But even if a certain form isn't necessarily required, it helps to have as much information available as possible for the buyer's peace of mind. See the types of documents that will make a before they go through on the sale.

Property Information

Much of seller's paperwork in Canada is common sense in that the seller is providing relevant information to the homeowner about the property, whether it's a Spruce Avenue home or elsewhere. Electricity and gas statements from the past year will let a homeowner know how much they'll have to budget for their utility bills. If there are any lease agreements on the property or

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Is It Worth It to Construct a Home AdditionA home addition is usually one of the more exciting parts of owning a home. Instead of just wishing for an en-suite bathroom or extra bedroom, homeowners have the option to make it happen. But new construction can also be more of a hassle than residents ever imagined it to be. Between wrestling with contractor quotes and watching a savings account quickly deplete, it's not always the best idea. In addition, most additions are not good candidates for a weekend DIY project. Homeowners may want to ask a few key questions before they start calling construction companies.

Space Conversion

A lot of homes have rooms or parts of rooms that aren't effectively being utilized for the residents. They may even have whole floors available that can be

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What You Need to Know About LMILenders Mortgage Insurance (LMI) is a way for lenders to mitigate their risk if a homebuyer should default on their mortgage, but not every homeowner is required to have it in Canada. Learn more about when you need to worry about LMI and how it affects your monthly payments on your Bonnie Doon home.

Down Payments

The standard down payment on a home was always meant to be at least 20 percent of the final offer. So if you buy a $100,000 home, you should have at least $20,000 in cash to give to the seller. The more the homeowner puts down, the more equity they'll have in the home and the lower their monthly payment will be. Banks can be reasonably certain that the mortgage will be paid every month because the homeowner has a major stake in the

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How to Sell a Tenant-Occupied HomeIf you're a landlord or thinking about becoming one, it's important to know what you're getting into. When it comes to selling your property, it may not be as easy if there are tenants living within the home. Here are a few things to consider if you want to sell a property in Alberta with occupied by tenants.

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

Work With Your Tenant, Not Against Them

Check and see if your tenant is possibly interested in purchasing the home before putting it up on the open market. Even if they're currently enjoying a very affordable rental rate, they may love the home so much they're willing to get a mortgage in order to

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As you've probably noticed in previous blog posts we've mentioned how much value Edmonton offers property investors. This is due in no small part to the booming economy of the province, the industrial and commercial diversification of the city and of course our highly educated workforce. So for a change of pace in terms of talking about all the logical things that Edmonton can offer you we wanted to take a few "fantasy" moments here and look at the most expensive properties in the city, without getting into specific details though.

$15,000,000
This particular property is located on Whitemud Road and is based on 7 acres of land with river access and is a little over 30-years old. With a price tag this size you'd expect to get a lot in terms of

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How Can a Deck Improve a Home's Resale Value?Installing a deck can provide extra living space for the home, a comfortable outdoor entertaining space and a necessary update to the property's curb appeal. Many homeowners prefer to consider the return on investment for home improvement projects, as a way to ensure that they will get more than personal contentment from the result. These aspects of the process help people understand how best to approach ROI or resale value from installing a deck.

Considering Resale Value

Experts estimate that the resale value of a deck approximately 18 square meters is about 70-80 percent. This means that homeowners can expect to recoup about two-thirds or more of the price they pay in a higher home value. This is especially important when selling a home.

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