Recently, a home in Calgary went on the market that had a dark past associated with it. The home is the one where multiple murders occurred this year. Across Canada every year, many homes get listed where violent attacks have occurred. In the industry, these homes are referred to as "stigmatized properties".
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.
The Laws Regarding Stigmatized Properties
In the United States, there is a law in most states requiring sellers to make a full disclosure about a murder or a suicide that has occurred on the property within the last 3 years. In Canada, Québec is the only province in the country that has a
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Buying a new home is a huge investment, and buyers want to ensure that the home they buy is right for them. As buyers go to home showings, they will discover that some homes have big problems that become deal breakers. However, what they may not realize is that homes may also have problems that aren’t so obvious. Here are some big red flags, both visible and otherwise, that all home buyers should be looking out for to protect themselves from a bad deal.
Canadian residents may want to move from renting to owning a home. In some areas, it may be a great time to snap up an available property and start building equity in a home of your own. One key element that will be reviewed by any potential lender is that of a mortgage applicant's credit score. Potential homebuyers who anticipate requiring a mortgage loan in order to afford to purchase a home need to look at their credit scores and learn more about the relationship between credit scores and mortgage loans. Those with high credit scores may be easily preapproved for a mortgage, reducing the possibility of potential obstacles when working with a seller in competitive housing markets, such as Vancouver and Toronto.
Many couples and families run into a situation where they fall in love with 2 Calgary houses at the same time and aren't able to make a decision between either of them. While other people are racing around frantically trying to find their dream home, these few are torn between 2 homes that are both very desirable.
There are times when it makes sense to refinance your mortgage. It is however, important to have a clear financial objective in mind to be able to choose the most appropriate loan.
There are many, many books written on negotiation. There are as many good books as there are bad. In the past, manipulation used to be the standard method of choice for negotiating. Learning how to control and use subtle techniques to get what you want, and then leave the other side without a leg to stand on. This ultimately led to prolonged negotiations, with one side feeling cheated. As a result, that side would likely choose not to do business with the other party in the future, or would go out of their way to compensate for their losses. As a result, both sides would lose.
This is an old made-up story but one that makes a lot of sense. The heat turned off one day and a couple had to call in a specialist to look at their furnace. The house was getting colder and the children were starting to complain. When the furnace professional arrived he was warmly welcomed into the home and made his way downstairs. Upon arriving at the furnace he gave it a quick inspection and then gave it a good bang in a certain spot. The furnace instantly turned on, the couple was elated and they all headed upstairs to give the children the good news.
A septic system may last for about a quarter of a century. For someone looking to buy a home, this is an important consideration. Septic systems pose a number of unique questions and concerns for home buyers, so it helps to have the facts before making a final decision.
When most people think of Calgary real estate investments they envision taking their money and putting it into some type of commercial property. This isn't the only meaning for a property investment though. Any time anyone buys a condo, townhouse, semi-detached dwelling, single-family home or a luxury property they are putting their money into an investment in the future.
It's easy to get caught up in the speed, drama and pressure of bidding on a house that you are willing to skip a few steps to make sure you acquire the house of your dreams. You're suddenly willing to pay a few thousand more than you had intended. You're willing to go for a quicker closing date. You're even willing to skip the home inspection process, and just ask a knowledgeable family member to check it out for you. Slow down. Relax.