In the world of real estate, there’s a term you may have heard buzzing around: “Assignment of Contracts.” This practice has gained notoriety, especially in British Columbia, where it’s often referred to as “shadow flipping.” However, the situation in Alberta is quite distinct, and it’s important for consumers to understand the key aspects of contract… Continue reading Assignment of Contracts in Alberta: What Consumers Should Know
In the world of real estate transactions, a term you might come across is “real estate holdback.” This financial mechanism is designed to safeguard the interests of both buyers and sellers during the closing process. However, understanding when and why a holdback is used can be crucial in ensuring a smooth transaction. In this… Continue reading Demystifying Real Estate Holdbacks: What You Need to Know
In the world of real estate, buyers often wield conditional offers as a powerful tool to protect their interests. A conditional offer to purchase signifies a buyer’s intention to acquire a property, contingent upon the fulfillment of certain conditions. These conditions allow buyers the time and flexibility to thoroughly assess information before committing to a… Continue reading Navigating Real Estate Transactions: The Power of Conditional Offers
When it comes to real estate transactions, the terms “patent” and “latent” defects might sound complex, but they hold vital significance in your buying or selling journey. Understanding the difference between these two types of defects can save you from potential pitfalls and ensure a smoother transaction. In this article, we’ll explore what patent and… Continue reading Unveiling Real Estate Realities: Navigating Material Latent Defects and the Patent vs. Latent Defect Dilemma
Are you planning to sell your house? As you prepare to embark on this exciting journey, it’s crucial to be aware of the costs associated with selling a property. From real estate commissions to legal fees and more, understanding these expenses can help you make informed decisions and ensure a smoother transaction. In this blog,… Continue reading Cost of Selling a House 2023: Understanding the Expenses
Buying or selling real estate can be a complex and overwhelming process, but having the right real estate lawyer on your side can make all the difference. In today’s digital age, where virtual signings have become more prevalent, finding a real estate lawyer who can facilitate these transactions efficiently is crucial. In this blog, we… Continue reading How to Choose a Real Estate Lawyer Who Can Do Virtual Signings
If you’re in the process of buying or selling a house in Calgary, you may be wondering how long it takes to close the deal. The closing process is a critical phase of any real estate transaction, involving various steps and timelines. At Passgo, we understand the importance of a smooth closing, and we tailor… Continue reading How Long Does Closing on a House Take? A Comprehensive Guide for Calgary Buyers and Sellers
The real estate industry has undergone significant transformations in recent years, largely due to the advancements in technology. One area that has seen considerable progress is the implementation of virtual ID verification processes. With the rise in fraudulent activities, particularly related to property transactions and mortgage registrations, virtual ID verification has emerged as a powerful… Continue reading Unlocking Opportunities Safely: The Power of Virtual ID Verification
When it comes to mortgage financing, the term “escrow” is more commonly used in the United States than in Canada. However, escrow accounts do exist in Canada, particularly in relation to property taxes. In this article, we will explore what escrow means in Canada, what an escrow agent is, how it relates to property tax… Continue reading What is Escrow in Canada? Understanding Property Tax Accounts
A Certificate of Lis Pendens, commonly known as CLP, is a significant document that is registered at the Alberta Land Titles Office. If you are involved in selling or refinancing a property, or if you need to secure an obligation against real estate, it is crucial to understand the implications of a Certificate of Lis… Continue reading Certificate of Lis Pendens Alberta: A Guide to Land Title Registrations
