When I ask a question, I always appreciate a short answer. Here are some common real estate questions with definitive answers. If you would like to know more on the topics discussed in these questions, please visit the related links. And if you ever have a question, please contact me and let me know. I’ll do my best to answer it!

 

• Where can I find answers to my real estate questions?

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gimme-shelter.com

 

• What is the most important aspect of real estate?

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Location

 
• Is there a standard commission rate charged by real estate agents?

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No
 
• Is a property inspection required when buying a home?  

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No
 
• What is the most common condition a buyer uses on a purchase contract?

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Financing
 
• What is the least expensive upgrade I can make to my home?

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Paint
 
• My condo is charging owners a special assessment. Must I pay it?

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Yes
 
• What is the most common cause of the damage to homes?

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Water
 
• Do I have to pay GST on the purchase of a resale home?

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No
 
• Do I have to pay GST on the purchase of a new home?

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Yes
 
• Do I have to pay GST on the purchase of land?

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Yes
 
• What is the capital cost allowance on land?

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Zero
 
• If I have a mortgage on my home, do I need to have insurance?

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Yes
 
• Should I just use a tax assessment to price my home when I sell?

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No
 
• Are mid-efficiency furnaces still available in Alberta?

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No
 
• Do I need to put a deposit down when offering on a home?

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Yes
 

• Is there a minimum deposit I need when I offer on a home?

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No
 

• Does my home inspection need to be done by a professional?

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No
 

• How do I find out exactly how much my home is worth?

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Sell          (Interested in selling your Edmonton Area home? Click here to contact me)
 

• If I put a conditional offer on a house, is my deposit refundable?

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Yes
 

• If I put an unconditional offer on a house, is my deposit refundable?

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No
 

• Are laminate and hardwood flooring the same thing?

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No
 

• Do condo fees increase on a regular schedule?

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No
 

• Is title insurance mandatory?

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No
 

• What’s more important when selling, being clean or tidy?

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Both
 

• Can a mortgage be placed on a titled parking stall?

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Yes
 

• If the roof of my condo leaks into my unit, am I responsible for the damage?

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No
 

• If the roof of my house leaks, will my home insurance policy likely cover it? 

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No