In most cases, the beneficial and legal owners of a property are one and the same, but they can be separate individuals through a “trust agreement”. Simply put, a trust agreement is a legal tool to separate the legal and beneficial owners of the property. What are “legal owners”? The legal owners are the persons… Continue reading What is a trust agreement in Real Estate?
Tag: closing cost
What is a trust agreement in Real Estate?
Can you close your Alberta property from out-of-province?
When purchasing an Alberta property, you can close your transaction virtually and save time and money.
Behind the scenes: What happens on closing day
One of the biggest questions during a Real Estate transaction is “when do we get our keys?” Before getting your keys, there are several steps that need to be completed first and this all (believe it or not) happens behind the scenes on closing day. What is Closing Day Closing day is the day when… Continue reading Behind the scenes: What happens on closing day
Closing On a Friday
When an agreement of purchase and sale is negotiated, both parties will agree to a closing date that seems reasonable. Just as there is said to be a preferable day to book a flight or find an economical hotel room, when negotiating your closing date, the day or week of the month to close may… Continue reading Closing On a Friday
7 Questions to Ask a Real Estate Lawyer When Buying
If you just firmed up your purchase or sale (Congrats!), you’ll likely need to choose a Real Estate lawyer to facilitate your closing. No matter which lawyer you choose, asking the right having the questions to ask a real estate lawyer before deciding who is going to handle your transaction can make, or break, the entire… Continue reading 7 Questions to Ask a Real Estate Lawyer When Buying
Mortgage Refinancing – What is it and What’s The Process?
Mortgage refinancing is the process of paying off an existing loan and replacing it with a new loan with different terms than your original mortgage. There are many reasons why home owners choose to refinance a mortgage. The most popular reasons being converting from a variable rate mortgage to a fixed rate one (or vice-versa… Continue reading Mortgage Refinancing – What is it and What’s The Process?