A Buyer's Costs in a Real Estate Transaction
Posted on Apr 15, 2024 in Buyers Info & Facts
When buying real estate, there are various costs that buyers typically incur throughout the process. These costs can vary depending on factors such as the property's purchase price, location, financing options, and legal requirements. Here are some common real estate buyer costs to consider:
- Down Payment: The down payment is a lump sum payment made...
The Importance of Title Insurance in BC's Real Estate
Posted on Apr 15, 2024 in Real Estate Information
Title insurance is an essential aspect of real estate transactions in British Columbia (BC) and offers several important protections for homebuyers and lenders. Here are some key reasons why title insurance is important in BC real estate:
- Protects Against Title Defects: Title insurance protects against issues with the title of the property, such as...
What is a Home Appraisal & Why You Need One
Posted on Apr 15, 2024
A home appraisal is an objective assessment of a property's value conducted by a licensed or certified appraiser. The purpose of a home appraisal is to determine the fair market value of the property based on various factors such as its condition, size, location, and comparable sales in the area. Home appraisals are commonly required in real estate...
The Difference Between Pre-approved & a Pre-qualified Mortgage
Posted on Apr 15, 2024 in Mortgages & Financing
The terms "pre-approved" and "pre-qualified" are often used interchangeably in the context of mortgage financing, but they actually represent different stages in the mortgage application process:
Pre-Qualified:
Pre-qualification is the initial step in the mortgage application process.
To get pre-qualified, you provide basic financial information to a...
The Difference Between a Real Estate Lawyer and Notary Public
Posted on Apr 15, 2024 in Real Estate Information
The primary difference between a real estate lawyer and a notary public, particularly in the context of real estate transactions, lies in their qualifications, scope of practice, and the services they provide:
- Qualifications:
- Real Estate Lawyer: A real estate lawyer is a licensed attorney who has completed a law degree and passed the bar exam in the...
5 Red Flags its Time to Sell Your Investment Property
Posted on Apr 15, 2024 in Investment Property
Deciding to sell an investment property is a significant decision that requires careful consideration. Here are five red flags that may indicate it's time to sell your investment property:
- Declining Cash Flow: If your property's rental income is consistently decreasing or not keeping up with expenses such as mortgage payments, property taxes, mainte...