Real estate education

It’s the biggest investment we are ever likely to make, yet too often buying and selling a home comes with a bunch of misconceptions about making the most of that investment.

Len T. Wong, broker/owner of RE/MAX Len T. Wong and Associates, chalks these misconceptions up to a lack of information, rather than any fundamental misunderstandings about the buying and selling process. Providing that education to the client, he says, is the role of an experienced REALTOR®.

Here are the top five buying and selling misconceptions Wong has seen throughout his 25-year real estate career: (more…)

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To buy, or not to buy?

That is the question, but there is no easy answer that’s right for everyone

It’s an age-old question that still gets hotly debated, particularly by young adults who are determining where they are going to live: should I rent or should I buy?

It’s not an easy question to answer, and there are no clear right or wrong answers.

“One of the big things to contemplate is your time focus, because when you do buy a home, it is a long-term commitment. It does involve a five-year mortgage that’s amortized over 25 years,” said Tim Gensey, a market analyst with Canada Mortgage and Housing Corp. (CMHC) in Calgary. “On the other hand, renting allows you to be a lot more flexible. You have to really consider where you are in your life and what your needs are.

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Moving on up

Planning is crucial to a smooth and successful move

You’ve found the home of your dreams, made an offer and, eventually, sealed the deal – now it’s time for the big move.

While moving day can be a stressful time, some advance planning can make the process run as smoothly as possible, while limiting the likelihood of unpleasant surprises.

First of all, you should know how to deal with a situation where the previous owner has saddled you with a dirty house or left-behind furniture on possession day.

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Law of the land

Professional legal help can benefit any real estate transaction

Buying or selling a home is a process that benefits greatly from professional help, and that especially true on the legal side of things.

Calgary Legal Guidance (clg.ab.ca) has information on selling and buying real estate in its Dial-A-Law series, including the role a lawyer plays.

Jeffrey Kahane of Kahane Law Office in Calgary says most people don’t get a lawyer involved until the conditions of a sales agreement are waived, “because then you’ve got a firm deal.”

(more…)

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