Calgary Condo Blog» Calgary Condos

New Lenders Condition popping up on Condo Purchases

Jon — Sun, 21 Mar 2010 13:52:06 +0000

Get it in writing!

In a recent bulletin from the Alberta Real Estate Association to members of the Alberta Real Estate industry it was noted that some Lenders are now requiring a condition for review and approval of condo docs by the “insurer” before they will finance the deal.

While this may not on the surface appear to be a big deal the issue has been that this condition has only come up at the stage when the instruction for the mortgage are sent to the Buyers Lawyer. The other issue with this lenders condition is that it often is above and beyond any condo document inspection that a Buyer has completed during the normal process of the offer to purchase.

As is always the best practice is to get it in writing! So far this condition has only been seen with purchases made that require an insurer (usually less than 25% down). The important lesson in all of this – get a statement in writing from the Lender that as a Buyer you have fully satisfied all of the lenders conditions prior to removing the conditions on a purchase contract.

Springbank Hill Calgary Condos

Jon — Tue, 09 Feb 2010 00:54:48 +0000

Working off the same layout of the first site that I have created I will continue to build specific sites focussed on the various communities of Calgary as well as the different Calgary Condo markets and will post them here on this site.

The second one in the list is for Springbank Hill Calgary Condos on the Springbank Hill Calgary site.

As always you can check out the various quadrant sites for Calgary Condos as well.

North West Calgary Condos
North East Calgary Condos
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South East Calgary Condos
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Aspen Woods Calgary Condos

Jon — Tue, 09 Feb 2010 00:49:21 +0000

I have set up some specific sites pertaining to Calgary Condos and the communities that they are located within. The very first on that I created was for the community of Aspen Woods. Aspen Woods does not have a great deal of Condos and they are definately at the upper end of the scale compared to the average Calgary Condo. If you want to check out the Condos for sale in Aspen Woods then check out the Aspen Woods Calgary site.

You can of course always check out the various quadrant sites for Condos. If you are Buying or Selling a Condo in Calgary I hope that you find these site (and of course my services) useful.

North West Calgary Condos
North East Calgary Condos
South West Calgary Condos
South East Calgary Condos
Search for Calgary Real Estate