Unless you have already negotiated a hold back in your Real Estate Contract, you cannot unilaterally withhold money from the cash required to complete the purchase. Immediately ask your lawyer to request a hold back with a specific time limit and specific conditions for the completion of the roof work. If the request for a […]
Read More...Owning a Condo can be great, but before you invest, make sure to do your due diligence! The following are a few of the many things to look for before signing that contract: The Condo Board Meeting Minutes– find out what has come up at past meetings; The Condo Reserve Funds– check the financial status […]
Read More...Under the standard real estate contract in use in Alberta, you are. However, it is negotiable and be careful if there are installment payments due after your intended sale. Special assessments are generally issued top up an inadequate reserve fund or to pay for an unexpected expense. The buyer will enjoy those benefits.
Read More...Adding children’s names to property titles may add complication instead of smoothing the way on your death. Adding children can sometimes trigger unanticipated tax consequences; for example, as presumably this property would not be your children’s principal residence, unintended capital gains could be assessed. Adding more owners now could also create obstacles to your own […]
Read More...If he has an Enduring Power of Attorney (“EPA”) appointing you as his Attorney, there shouldn’t be a problem as long as the EPA states that you can sell land. It doesn’t have to refer to the address or legal description of his house specifically. Be sure the EPA is correct, because some generic on-line […]
Read More...We often receive calls from people in a time crunch: they have separated, agreed on a resolution, and placed an offer on a new home – only to learn from their bank that a new mortgage is not possible until a formal separation agreement is in place. Even if you and your ex-spouse agree on […]
Read More...It depends on what the condo bylaws say. If the bylaws are silent regarding deductibles, it is likely that you do not have to pay. If the bylaws impose liability on the owner in all circumstances, you are likely going to have to pay. If the bylaws say you pay only if you were negligent, […]
Read More...This first meeting with a lawyer is an opportunity to do several things. It allows you to: assess whether you and the lawyer are compatible to work together; learn about the different options and resources available to you to address your legal matter; obtain general legal advice; and create a plan for moving forward. A […]
Read More...Finding your new home in less than stellar condition does not happen often, but when it does, it’s a difficult thing to deal with. The best approach is to be proactive when you are placing your offer to purchase. Include in the terms of sale that all refuse and items not specifically included in the […]
Read More...As long as the power of attorney meets the requirements of a power of attorney in Newfoundland, states that it survives mental incapacity, meets the normal registration requirements here, references the sale of real property, and a lawyer writes a letter stating that it meets the above criteria, you may sign on behalf your husband […]
Read More...We often receive calls from people in a time crunch: they have separated, agreed on a resolution, and placed an offer on a new home – only to learn from their bank that a new mortgage is not possible until a formal separation agreement is in place. Even if you and your ex-spouse agree on […]
Read More...When you made your offer to purchase, you gave your Realtor a cash deposit and perhaps a second deposit when you removed your conditions. In addition, there will be a cash shortfall requested by your lawyer. The cash shortfall is the total required to complete the purchase which will include tax and condo fee adjustments, […]
Read More...The answer is no. There is an expectation that the buyer will receive the same appliance as was in the home when the offer was made, unless otherwise specified in the real estate purchase contract. The contract also provides that the appliance will be in good working order on the day of closing. If problems […]
Read More...A Real Property Report, drawn by a qualified surveyor, shows the location of all buildings and improvements on your property. You need this to get a letter or stamp of compliance from the City. And you will need to provide both of these things to the buyer if you are planning on selling your property, […]
Read More...Unless you have already negotiated a hold back in your Real Estate Contract, you cannot unilaterally withhold money from the cash required to complete the purchase. Immediately ask your lawyer to request a hold back with a specific time limit for the completion of the roof work. If the request for a hold back is […]
Read More...Yes. The Condominium Property Act gives the Court the power to make “any other order appropriate in the circumstances,” which would an include an eviction order when an owner’s conduct has been found to be improper. However, the conduct would have to be serious and the eviction might only be ordered after the condominium corporation […]
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