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Re/Max Northern Realty, owned by Ian and Peggy Gardner, has been in existence in Peace River since 1989. 12 associates are presently engaged in providing real estate services to the Peace River area including Grimshaw, Nampa, Falher and the surrounding regions. We at Re/Max pride ourselves on our professional attention to our clients and community -- we support many local charitable organizations, and, contribute to Children's Miracle Network annually. Our team commitment contributes to the success of the business, and to the efficient, pleasant real estate experience that is expected and deserved by all of our clients. Re/Max Northern Realty offices are located at 9501 - 100th Avenue. Phone 624-3844. Or visit our website at www.remax-peaceriver-ab.com
Can I work with a realtor if I want to build a house or do I have to deal with the builder directly?
You can choose to have a realtor represent you when you deal with a builder to construct a home for you. The realtor may be able to assist you to develop a purchase agreement that is acceptable to both you and the builder and should have knowledge and experience to avoid pitfalls. The realtor will also be able to forward the purchase agreement to a lawyer of your choice to assure that your interests are properly protected.
How long do I have to develop a residential lot?
When you purchase a vacant lot you should check with the municipality/town where the property is located as by-laws are different in all jurisdictions. Generally you are allowed a period of time once construction has commenced-usually a year or two. While nothing is being done, you are usually allowed to keep the lot vacant as long as you wish.
I know about title insurance in the U.S. but is there anything like it in Canada?
Title Insurance is available in Canada, and is used more and more frequently in real estate transactions as a way to insure both the property and the deal against inadequacies and deficiencies. It is very wise to consult your lawyer as well as your Realtor once you are in a situation where you must choose between a real property report and title insurance.
I'm worried about buying a house when there's snow on the ground and not being able to see everything. Is this a reasonable concern?
This is a valid concern, particularly on an acreage or farm--often a residential property owner will provide the listing realtor with what we call "summer pictures" showcasing the yard in different seasons and this may be useful. No matter what the season, it is wise to make as thorough an inspection of the outside and yard as you can and ask many questions about any concerns.
Are condo fees necessary? Purchase price I can afford. With the condo fees added in, the payments don’t work
Condo fees cover the unit factor's portion of common expenses. So, yes, they are necessary, in that there are common utilities, maintenance, repairs, taxes, insurance and other expenses that must be covered in some way by the condo association. When you purchase a condo, you are buying the inside portion of a unit and a share in the condo corporation, which owns the common areas. This means that you are responsible for your unit's share of the expenses on these common areas.
How much money do I need to buy a rental property?
The down payment required to purchase a renta property is usually at least 25%. However, there are more factors at play than just the down payment--a buyer must be able to prove that he can afford the payments and must have a strong credit rating, in order to be approved for a mortgage to purchase a rental property. The mortgage company will then determine how much they will require as a down payment. It is prudent to approach your lending company and find out the criteria you will have to work with before considering a rental purchase experience.
I've heard fall is a better time to buy a house because people who didn't sell in the summer want to sell before the winter, is this true? Are prices lower in the fall?
Fall may be construed as a better buying time, because often prices can be lower, depending on how the market has been during the spring and summer. However, buyers should keep in mind that there may be fewer properties on the market by the fall, as a majority of people do not prefer to move in the
winter, so they take their homes off of the market in in the fall and put them back on in the spring.
I watch the property shows on TV. Many times the seller builds the down payment into the price of the home so the buyer purchases the home with no money down. Can this be done in Canada?
In Canada, the down payment on a property cannot be built into the purchase price to enable a buyer to purchase the property with no down payment. However, some financial institutions still offer zero down mortgages, if the purchaser's qualify. Some also offer cash back to qualified purchasers, depending on their credit rating and other factors. It would be wise to query your mortgage company about the different types of mortgages that they offer, or to hire a mortgage brokerage to do this for you.
What will a realtor do for me that I can't do for myself?
A licensed real estate associate is trained and educated to perform real estate transactions (buying, selling, leasing) in the best interests of all parties. Their training includes marketing, knowledge of the legalities involved, conveyancing, necessary paperwork, market conditions, and some negotiating skills. A listing/selling presentation will be part of our services and explains in depth what the whole experience will entail and how we assist you.
How much commission can I expect to pay to sell my house?
Commissions, by law, are negotiable, but are usually a percentage of the sale price, plus GST. You will sign a contract with the real estate office that you decide to deal with, and at that time, the commission will be decided, with input from you and your sales associate. The contract covers all of the aspects of the listing transaction, including commission, and it should be read in its entirety while in the presence of an associate who can answer all questions.
What do I have to do to get my house ready to sell?
Your associate will work closely with you to suggest what your house may need to make it the most attractive home in the market and price range that it falls in, but a few generalities are as follows:
- Clean, neat, tidy, uncluttered with the least amount of necessary repairs is what clients are always looking for
- A price that is within the range of the other homes in the same market
- The necessary paperwork available, such as a Real Property Report, current tax assessment, and other pertinent records associated with the home