Questions from Clients & Answers from Myself!
Q: "It says on the listing that there is a tenant - Will the tenant move out if I were to buy?"
A: Yes, it only states there is a currently a tenant living there so that you are aware that you may need 24hr notice before viewing the property & at least a 30 day possession. Also, tenants may not be the "neatest" people living in the house so don't expect to walk into a prestine clean home, as they do not care whether or not the home sells (for the most part) - - When you buy the property the tenant leaves - - OR you can negotiate terms & a new lease to stay if you were buying the property as a Revenue property for yourself!
Q: "What is an RPR?"
A: An RPR is a Real Property Report or a Survey of your property. A Real Property Report is a legal document that clearly illustrates the location of significant visible improvements relative to property boundaries. With a Real Property report, owners are aware of any boundary problems. They know whether their new home is too close to the property line, or part of their garage is on their neighbour’s land, or vice versa.
Q: "What does possession day mean?"
A: The day in which the money is transferred & you are allowed to move into your new home!
Q: "What happens if I buy a unit in a condo building & that condo building reaches its Age of Life?"
A: As a condo share holder, every owner in that condo building would come to an agreement as to what would be done with the building/land & be paid out their shares. example)building is ready to be demolished and/or have the land bought by a developer or sub-divided,etc.
I will continue to add questions & answers as they come my way! Feel free to ask me a questions via email, facebook, blog or call or text!! It never hurts to ask!
Chas Zemluk
CIR Realty
Ph: 403-354-3777
