We had predicted this quite some time ago, but it appears the revolution has started.

 

One of our brokerage's clients is in the process of purchasing a former grow-op. And guess what? His insurance company and agent that he has done business with for years, has refused to insure the house that he had planned to purchase.

 

These kind of risky purchases (grow-ops, foreclosures, and bank sales) are just that - RISKY! I'm sure this Buyer client is using a knowledgable and experienced agent that put into the "Offer to Purchase" the condition of being able to find insurance. This is just one of the many conditions that a knowledgable real estate agent will suggest to their clients to have inserted into the Offer to Purchase. Finding out after the sale is FIRM would be a real expensive lesson for someone.

 

If anyone ever questioned the value of an experienced, and fully-trained industry professional to help them purchase or sell a home, this is just one example that shows that...

The idea of buying a home is really exciting. In fact, it could be one of the biggest decisions you may be planning to make in your life so far. That is why I wanted to send this information along to help you best prepare. Please let me know if you have any questions about your financial affordability to purchase a home. As an Accredited Buyer’s Representative, I always have your best interests in mind and want to see you get the home of your dreams. Continue to post.

Two Alberta consumers discuss their experience with the purchase contract they signed when buying their new home.

Source: Real Estate Council of Alberta. Used under standard YouTube license terms.

Source: KWRI - used under standard YouTube license terms.