CRA CRASH SH COU COURSE RSE IN IN RE REAL AL ES ESTATE TE - - PowerPoint PPT Presentation
CRA CRASH SH COU COURSE RSE IN IN RE REAL AL ES ESTATE TE QUARRY PARK LAW JONATHAN M. ABLETT jon@quarryparklaw.com (403) 398-2469 3 Phases of a Deal 1. Contract signed Conditional, Deposits paid 2. Conditions removed Firm
QUARRY PARK LAW JONATHAN M. ABLETT jon@quarryparklaw.com (403) 398-2469
– Conditional, Deposits paid
– Firm deal, Deposits used as part of purchase price
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– Taxes – HOA or condo fees – RPR Compliance
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– Fix Problems – Enforcement
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What are you promising when selling?
– Building envelope complies with bylaws and does
not encroach onto neighboring properties
– Canadian residence – Use complies with bylaws
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The usual conditions
– Obtaining financing – Inspection – Sale of buyer's home
Deposits
– when do you lose them?
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Do you need a new one?
– Any new structures on the land? – Fences, decks, window wells, air conditioners?
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Major things to consider:
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and seller
which you hold possession.
– City tax – Condo fees – Homeowner's Association Fees – Rent & Security Deposits
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– Potential temporary homelessness
waiting outside at noon on the Closing Date!
– Mortgage funding can be delayed – Seller doesn't vacate – Keys lost
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Mortgage fraud
– DO NOT LIE by commission or omission – Straw buyer – Employment misrepresentation – Criminal offence
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Barrister & Solicitor Quarry Park Law (403) 398-2469 jon@quarryparklaw.com