You are ready to make the move, it’s time! We’ve talked about pricing your house right and preparing it for showings so now it time to cover a few of the expenses you may incur during the selling process. I don’t want you to have any surprises along the way, especially when it comes to your money!

The first thing we will tackle are the registrations on your title. This is where we can determine what you can expect to have to discharge from the title when you sell. Generally speaking, you will find the mortgage registration, homeowner association fees and other, less common, items like a lien or certificate of lis pendens.

We will review each and every item but I want to focus specifically on the mortgage payout penalty. Reach out to your mortgage company to ask for in writing what your payout penalty is – even if you plan on upgrading and porting your mortgage. These payouts can substantial so it’s an expense you will want to know upfront as it may affect your bottom line.

Next thing to cover is the real property report. When you originally purchased your property, this is an expensive piece of paper that you should have received from the seller – except for conventional condos – as it is part of the Alberta Real Estate Association’s offers to purchase and listing agreement.

This is the survey document that shows the outline of your home, your yard, where your fence is garage and any improvements you may have on the land. The offer to purchase and listing agreements mention that it is the sellers’ responsibility to provide a current RPR. Current doesn’t mean brand new! Even if your RPR is 10 years old, as long as it is readable and that you haven’t made any changes such as having built a garage, new deck, fence or even a portable shed, your existing RPR should be perfectly fine. However, if you have made improvements around your land from the time you’ve purchased, you will need to update your RPR or get a brand new one. This is something I can definitely assist you with!

Finally, condominium documents. As a Calgary condo owner, it is the responsibility of the seller to provide a complete list of all the condo documents available for your building. Your condo management company will have these documents for you to order if you don’t have a complete package. Looking at condo documents can be very overwhelming and time consuming as they can be 1000’s pages to review. Not to worry, I’ve got your back! As another one of my services, I will review your package and will provide you with a list of what you have and what you need to order.

Voila! No surprises for you and we are well on our way to calling your home SOLD. Visit me on Facebook and Google!