Condominiums: What is a reserve fund, and why should you care when buying a Condo in Nova Scotia?

/ Highlander Law Group/
Condominiums: What is a reserve fund, and why should you care when buying a Condo in Nova Scotia?

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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Why should I care about the Difference between Patent and Latent defects when I’m buying a property in Nova Scotia?

/ Highlander Law Group/
Why should I care about the Difference between Patent and Latent defects when I’m buying a property in Nova Scotia?

Real Estate law in Nova Scotia is grounded in the very old legal concept, ‘caveat emptor’, which is ‘Buyer Beware’. The idea being, no one is forcing you to buy the property, so before you sign on the (digital) line, the onus is on you to ensure you really want what they are selling. From that logic, comes the rule that the current property owner only has to disclose latent defects to a potential purchaser.

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How Do I Protect Myself from ‘Invisible Issues’ when Buying a Property in Nova Scotia?

/ Highlander Law Group/
How Do I Protect Myself from ‘Invisible Issues’ when Buying a Property in Nova Scotia?

Real Estate law in Nova Scotia is grounded in the very old legal concept, ‘caveat emptor’, which is ‘Buyer Beware’. The idea being, no one is forcing you to buy the property, so before you sign on the (digital) line, the onus is on you to ensure you really want what they are selling.

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Let us be the wet blanket – it is part of our job! - Your Nova Scotia real estate lawyer as an advocate for you.

/ Highlander Law Group/
Let us be the wet blanket – it is part of our job! - Your Nova Scotia real estate lawyer as an advocate for you.

Lawyers have a multi-faceted reputation – not all of it flattering, but being the “stick in the mud” when it comes to fulfilling your contract when you buy or sell a home is something I will happily claim.

It is my job as your lawyer to be on the lookout for ways to protect you throughout the buying and selling process. We review your contracts, your mortgage documents, the title for your property, and any receipts and repairs required by the contract.

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Property Taxes vs Deed Transfer Tax – What you need to know about taxes when buying a home in Nova Scotia

/ Highlander Law Group/
Property Taxes vs Deed Transfer Tax – What you need to know about taxes when buying a home in Nova Scotia

When buying a used (read: previously lived in) home there are two types of tax you will see come up on your statements from your lawyer.

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Don't Fall into the Trap of a Bad Closing Day

/ Highlander Law Group/
Don't Fall into the Trap of a Bad Closing Day

Moving can be exciting, but can also be a stressful time. What day your closing date falls on can contribute to how smoothly the transaction goes. There are a lot of moving parts on closing day, and it’s better to be safe than sorry if something pops up that causes a delay. Potential issues could be, a delay in funds from your bank, a contentious issue on the walk-through etc.

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Money Talks: who handles the money when you’re Buying a Home in Nova Scotia

/ Highlander Law Group/
Money Talks: who handles the money when you’re Buying a Home in Nova Scotia

One of the things that incites the most anxiety when buying or selling a home is the money, who is handling it? Luckily for home buyers and sellers your trusted professionals help you in this department. Read on to learn the specifics of who does what.

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Money Talks: How the Money Flows when you're Selling Your Home in Nova Scotia.

/ Highlander Law Group/
Money Talks: How the Money Flows when you're Selling Your Home in Nova Scotia.

One of the things that incites the most anxiety when buying or selling a home is the money, who is handling it? Luckily for home buyers and sellers your trusted professionals help you in this department. Your lawyer handles the money for you when you sell your home.

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

/ Highlander Law Group/
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 when buying a Condo in Nova Scotia?

/ Highlander Law Group/
Condominiums: What is a reserve fund, and why should you care when buying a Condo in Nova Scotia?

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.

Read More

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

/ Highlander Law Group/
Condo, or a house?... or something in between? - What is a bare land condominium in Nova Scotia?

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 Nova Scotian Home With Pets

/ Highlander Law Group/
Selling & Showing Your Nova Scotian 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.

/ Highlander Law Group/
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

/ Highlander Law Group/
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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why you should understand & embrace hygge

/ Highlander Law Group/
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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Your property assessment in Nova Scotia - what is it, and what is it for?

/ Highlander Law Group/
Your property assessment in Nova Scotia - what is it, and what is it for?

In Nova Scotia real property is given an assessed value each year. The question is how do assessors arrive at that value, why are properties given an assessed value and what is that figure used for?

 

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Prevent Heartache By Having a Lawyer Review Your Nova Scotian Commercial Lease Part II – Leasehold Improvements

/ Highlander Law Group/
Prevent Heartache By Having a Lawyer Review Your Nova Scotian Commercial Lease Part II – Leasehold Improvements

Leasehold improvements include anything that needs to be done to the space that you are going to lease in order to make it fit for your purposes. Your lease should outline who is responsible for making the changes, who is paying for the changes, and what the timeline is for getting it done. It should also make clear who is the decision maker with respect to the leasehold improvements. For example, if new flooring is to be laid do you get to decide the specific type or does the landlord.

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Your To-Do list as 'Closing Day' for a purchase/sale of real estate in Nova Scotia approaches.

/ Highlander Law Group/
Your To-Do list as 'Closing Day' for a purchase/sale of real estate in Nova Scotia 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

/ Highlander Law Group/
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 in Nova Scotia? Here are some dos and don'ts of having a Yard Sale.

/ Highlander Law Group/
Getting Ready to Move in Nova Scotia? 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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