Real Estate FAQ's

Feb. 16, 2023

What Are The Closing Costs When Buying a Home in Calgary?

Closing CostsClosing costs for buying a home in Calgary, Alberta can vary depending on a number of factors, such as the purchase price of the home, the type of mortgage you are getting, and the specific costs associated with the purchase.

 

 

Here are some common closing costs you can ...

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Posted in Real Estate FAQ's
Feb. 16, 2023

Why Do I Need an Initial Deposit?

Deposit

Here are some reasons why an initial deposit is required when buying a home:

Shows good faith: An initial deposit shows the seller that you are serious about buying the property and that you are willing to put some money on the line to show your good faith.

Locks in ...

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Posted in Real Estate FAQ's
Feb. 16, 2023

How Do I Calculate My Mortgage Payout Penalty?

The mortgage payout penalty is the amount that a borrower has to pay if they want to pay off their mortgage beforeMortgage Payout Penalty the end of the term. The penalty is calculated based on the terms of the mortgage contract and can vary depending on a number of factors, including the ...

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Jan. 28, 2023

Best practices when hiring/referring the right real estate professionals?

When hiring or referring real estate professionals, it is important to do your research and make sure the person you are considering is licensed and has a good reputation. You can check with the Real Estate Council of Alberta to see if the professional is licensed and if there are ...

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Posted in Real Estate FAQ's
Jan. 27, 2023

Recession Mixed with Inflation

During a recession, when the economy is contracting and businesses are struggling, there is typically a decrease in demand for real estate, which can lead to a decrease in property prices and rental rates. This is because people tend to have less disposable income during a recession, and may be ...

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Posted in Real Estate FAQ's
Nov. 26, 2022

Housing Taxes and Benefits for 2023

Housing and Taxes

Housing  Starting January 1, 2023. Government of Canada 

 

Anti Flipping Tax  - Crack down on house flipping by ensuring that profits from properties held for less than 12 months are fully taxed, starting in 2023, with certain exceptions for unexpected life events (e.g. death, divorce). This measure will ...

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Posted in Real Estate FAQ's