Buying a condo in Nova Scotia? Understand exactly what you're buying

Buying a condo in Nova Scotia? Understand exactly what you're buying

The practical distinctions between buying a condominium and buying property can sometimes be confusing. Here are a few points to illustrate what you are buying when you buy a condo. The exact definition of what you own and what you are responsible for, i.e. what is your unit, should be outlined in your Condominium Corporation's Declaration.

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Condominiums: What is a reserve fund, and why should you care?

Condominiums: What is a reserve fund, and why should you care?

When you buy a condominium one of the things that you (or usually your representatives) look into is whether or not the condo corporation has a healthy reserve fund.

When you buy a condo unit, the vendor has to order what is referred to as an "estoppel certificate". This will outline the status of the fees for your specific unit, but it will also give you details about the reserve fund of the corporation.

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Condo, or a house?... or something in between? - What is a bare land condominium?

Condo, or a house?... or something in between? - What is a bare land condominium?

There are many different ways you can own property. The most common are owning parcels of land, or buying a unit in a building - the condominium. There is another option, where you would purchase a "bare land condominium". The ownership structure of purchasing a bare land condominium is similar to that of the traditional condominium, but refers to a parcel of land, defined by survey markers.

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Selling & Showing Your Home With Pets

Selling & Showing Your Home With Pets

Keeping you home in tip top shape in order to show it can be a task. Particularly when you have pets in your home, but it can make a bad impression if you don't. Here are some things you should think about when your selling with pets:

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Buying a Condo in Nova Scotia? Here's why you need an estoppel certificate.

Buying a Condo in Nova Scotia? Here's why you need an estoppel certificate.

When you are buying a home in Nova Scotia there are a lot of moving parts to the process. When you are buying a condominium, often you can count on adding a few more. One of the requirements specific to purchasing a condo unit is getting your hands on the estoppel certificate. It’s important to understand why you need one.

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First Time Homebuyers' Rebate - Nova Scotia

First Time Homebuyers' Rebate - Nova Scotia

If you are buying a home for the first time you may qualify for First Time Home Buyers' rebate.

A "first time buyer" is an individual who builds or purchases a newly built home and has not owned or occupied a home in Canada in the last five years.

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Home Appraisal? What's that all about?

Home Appraisal? What's that all about?

There are many reasons home owners require an appraisal, but the most common appraisal requests are for lending purposes. When a financial institution is considering granting a loan to purchase, improve or refinance a property, they need confirmation of the current market value of the property that will be securing their investment. An appraiser is called upon to provide an unbiased opinion of value based on market research and analysis and a review of the subject property.  Appraisals are also commonly sought for real estate transactions, estate planning, separation and divorce settlements and insurance purposes. 

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why you should understand & embrace hygge

why you should understand & embrace hygge

Hygge is a word that has been popping up a lot in discussions of home decorating, particularly for the fall and winter. Consider how embracing Hygge when staging your house for sale in the winter can have a positive impact on offers.

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Who gets it when your gone? Dealing with your home when you pass away.

Who gets it when your gone? Dealing with your home when you pass away.

While it may seem like a morbid topic of conversation, it is an important one to have. What happens to your home when you die? In Nova Scotia, typically, when the first spouse to passes away, the home simply stays with their surviving spouse. This happens because most spouses hold their homes as "joint tenants".  This is only applicable in situations where both spouses are on title to the home, and listed as joint tenants. This designation is listed on the parcel register for your property and you can have a lawyer find this information for you if you are unsure of your current situation.

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Your To-Do list as 'Closing Day approaches.

Your To-Do list as 'Closing Day approaches.

If you are like many lucky Nova Scotians buying or selling a home, you are working with a great team of professionals who will help you through the process. Your mortgage broker, real estate agent and lawyer will all help make the process as smooth as possible. There are a few things that you will need to do as well.

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Looks Matter: How Professional Staging and Photography can help you sell your home in Nova Scotia

Looks Matter: How Professional Staging and Photography can help you sell your home in Nova Scotia

Much of a home buyer's initial search happens online these days. This means that the pictures and videos of your home online are the things that will capture someone's attention and impress them enough to see the home in person. You want to make the most of this opportunity. Virtual tours have also become a great way to show off your home. Professional home staging and photography are a great way to accomplish this.

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Getting Ready to Move? Here are some dos and don'ts of having a Yard Sale.

Getting Ready to Move? Here are some dos and don'ts of having a Yard Sale.

A yard sale can be a great way to declutter and reduce the amount of stuff you have to move when you move out of your home. It is also a great way to make a little extra cash in the process. Here are some tips for making the most of your yard sale in Nova Scotia.

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What Does a Notary or Commissioner of Oaths Do?

What Does a Notary or Commissioner of Oaths Do?

Quite simply put, Notary Publics and Commissioner of Oaths are people who have been authorized by law to serve as an official witness to the signing of various legal documents. Notarizing a means that a Notary or Commissioner has taken the proper steps to verify your identity and then has witnessed your signing of a particular document. Afterwards they seal and sign the document to certify their witnessing of the signature. 

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How to Register a Builder’s Lien

How to Register a Builder’s Lien

Placing a Builder’s Lien in Nova Scotia is an option available to contractors like roofers, plumbers, electricians, landscapers and carpenters who have done work to improve a property and are concerned that they are not going to get paid. A Builders’ Lien is not available in all circumstances, but the definition is pretty broad. You do not even have to have completed the work you contracted to do to place a Lien.

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Are You Really Approved? The Difference Between Mortgage Pre-Approval and Approval.

Are You Really Approved? The Difference Between Mortgage Pre-Approval and Approval.

Getting pre-approved for a mortgage is a great first step in your home shopping process. It will give you an idea of how much you qualify to borrow, which in turn gives you a budget to work with when you are looking. This is a number to work with before you decide on a certain property. It is important to note that there is a difference between pre-approval and final approval for your mortgage.

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Buying a New Build?: Don't get caught with unfinished business.

Buying a New Build?: Don't get caught with unfinished business.

It is always exciting to buy a brand new home. New builds are often customized to you in ways that buying a home that is already built would require extensive renovations to achieve. This advantage comes with it own set of potential issues. One of the big common ones is "deficiencies". These are the things that are not completed by the builder as of the closing date. Best case scenario there are none, or they are minor things that needing to be finished.

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Property Taxes in HRM: What you need to know

Property Taxes in HRM: What you need to know

There has been some recent discussion in the Halifax Council of the idea of removing the provincial assessment cap for annual property taxes. As a result I thought now would be the perfect time to review the cap, and some other details about property taxes in HRM that you should know, if you own, or are looking to buy a home in the area.

 

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Who Has to Pay Child Support?

Who Has to Pay Child Support?

Because each family and every situation is different, family law can be a unpredictable area of law. There are lots of grey areas and not very many things are carved stone. Child support proves to be the exception to this uncertainty because it tends to be clear cut by comparison.

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