A blog cannot deal with all aspects of a subject and is not intended to replace professional advice. It's purpose is to highlight information and identify areas of possible interest. Anyone wishing to discuss this blog or to make any comments or suggestions about this blog is invited to do so by either posting comments or emailing me directly.

 


Many Canadians are under the assumption their mortgage is as good as done once they have a mortgage pre-approval.


But the truth is a buyer cannot expect a mortgage pre-approval will automatically translate into a mortgage. The lender now needs to consider the property itself, approve all the terms and review the documentation before you transition from pre-approved to approved.


Buyers often do not appreciate there is still some uncertainty when it comes to their mortgage. Unfortunately, once in a while this uncertainty bites back – with calamitous consequences.

Going in Without Conditions in a Hot Market

Not that long ago, when housing supply equalled or exceeded demand, the buyer would insert a clause requesting five business days (usually) to arrange mortgage financing – this is called a “condition of financing.” Even one or two days can make a world of difference.


These days across much of Canada, residential real estate is such a hot commodity it’s more...

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We have sold a property at 5619 Madigan Drive NE in Calgary.
Just move in and ENJOY. Reflecting wonderful value without being over-renovated, this is a really nicely UPDATED, fully finished BUNGALOW in the well-established neighbourhood of Marlborough Park. 2+1 bedrooms, 2 ½ baths. An OVERSIZED, detached, DOUBLE garage is a mechanic's dream and is drywalled and insulated. BIG, SOUTH-FACING BACKYARD is bathed in sunshine has a large concrete patio and gas line for those summer BBQs. There is updated flooring throughout: gleaming hardwood, luxury vinyl plank on the main level and newer carpet in the lower level. Good layout with a convenient half-bath ensuite bath and walk-in closet in the oversized main bedroom, and good-sized second bedroom. Separate dining room and living room. Modernized kitchen with new countertops, backsplash, luxury vinyl plank flooring. Window coverings throughout and many of the light fixtures have been updated. The updated, 4-piece...
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We have sold a property at 10971 Valley Springs Road NW in Calgary. We brought the buyers!
Welcome to this fully developed Bungalow walkout home backing South to the 15th hole on the Valley Ridge Golf Course. Vaulted ceilings, skylights and continuous Hickory Hardwood flooring set this main floor apart. A spacious open floor plan combines living room with gas fireplace, dining space and kitchen. The fully renovated kitchen is appointed with stainless steel appliances (fridge, dishwasher, wall oven, micro-wave), electric stovetop, hardwood cabinetry and expansive quartzite counter tops, Just steps away, enter the master bedroom and its updated 5 piece en-suite with large soaker tub, separate shower, and walk-in closet. The main floor is completed by a private office, powder room, laundry room and formal dining room. On the lower level find a spacious family room with gas fireplace, two additional bedrooms, a storage room & large hobby room. This home features 2...
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We have listed a new property at 5619 Madigan DRIVE NE in Calgary.
Just move in and ENJOY. Reflecting wonderful value without being over-renovated, this is a really nicely UPDATED, fully finished BUNGALOW in the well-established neighbourhood of Marlborough Park. 2+1 bedrooms, 2 ½ baths. An OVERSIZED, detached, DOUBLE garage is a mechanic's dream and is drywalled and insulated. BIG, SOUTH-FACING BACKYARD is bathed in sunshine has a large concrete patio and gas line for those summer BBQs. There is updated flooring throughout: gleaming hardwood, luxury vinyl plank on the main level and basement newer carpet in the lower level. Good layout with a convenient half-bath ensuite bath and walk-in closet in the oversized main bedroom, and good-sized second bedroom. Separate dining room and living room. Modernized kitchen with new countertops, backsplash, luxury vinyl plank flooring. Window coverings throughout and many of the light fixtures have been updated. The updated, 4-piece...
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