Edmonton Real Estate Blog

Sellers are motivated to get the best price for their homes, but they don't always know what that entails. Real estate agents often meet with sellers who think they need to spend thousands of dollars remodelling in order to market their home, or at the other extreme, sellers who expect a high price but don't want to put in the work. 


While the amount of work you should put into your home before selling depends on your local market, in general, the truth lies somewhere in between these two extremes. To demystify the process, here are answers to five questions that we often hear from sellers, presented by Jason Hafso of MaxWell Challenge Realty.

What Should I Repair?

Begin with any deferred maintenance such as the water heater, a roof tune-up, and crawl space insulation. Most buyers are shopping for a move-in-ready home and don't want to spend time and money on major repairs before occupying the house. That's why it's often recommended to handle major repairs before selling. If you don't,...

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(NC) The pandemic is causing many of us to re-evaluate our finances. If you are thinking of renegotiating your mortgage to take advantage of a lower interest rate, be aware that this could mean having to break your mortgage contract.

If you break your mortgage contract you may have to pay a fee, called a prepayment penalty.

Before breaking your mortgage, make sure the benefits outweigh the costs. Far too many homeowners who have broken their mortgage contracts have been shocked by penalties amounting to tens of thousands of dollars, or other fees required to complete the transaction.

Know the costs

Every mortgage contract contains different terms and conditions. Federally regulated financial institutions must provide you with key information in a box at the beginning of the mortgage agreement, including information about any penalties and fees that will apply if you break your mortgage contract.

As a consumer, you have the responsibility to read your mortgage agreement and understand the...

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(NC) An estimated three million Canadians have one, and they have emerged as the single largest contributor to the growth of household debt in Canada.


Yet many consumers do not appear to fully understand how they work.


No, we’re not talking about credit cards or car loans. We’re talking about home equity lines of credit or HELOCs.


According to a 2019 survey by the Financial Consumer Agency of Canada, many people appear to lack awareness of the terms and conditions of this widely sold financial product, exposing them to the risk of over-borrowing, carrying debt for extended periods and uninformed decision-making.


HELOCs are a secured form of revolving credit. The lender uses your home as a guarantee that you'll pay back the money you borrow. And, as you pay your HELOC down, you can borrow it again, up to a maximum credit limit.


Most major financial institutions offer them with a mortgage as a combined product, which is sometimes called a readvanceable mortgage. Many use them for...

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