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Real Estate & Homes For Sale in Alberta, Canada

Homes for Sale in AlbertaThe provincial capital is Edmonton, and the largest city is Calgary. Alberta is bordered by British Columbia to the west and Saskatchewan to the east. To the north of the province is the Northwest Territories, and to the south, the province borders the United States.

Alberta is an incredibly beautiful province. Have you ever seen pictures of Canada with a crystal clear body of water, on both sides of which there are mountains and forests?

The climate in Alberta is a dry continental climate that offers cold winters and warm summers. But, due to the size of the province, the climate changes significantly from north to south. In the southern part, on average, 24 degrees in summer and -8 in winter. In the northern regions it is colder: about 16 in the summer and -24 in the winter.

How to buy property in Alberta, Canada?

Alberta Condos for SaleLike other countries, the procedure for buying property in Alberta, Canada differs depending on where you are looking for property: in the secondary market, from the owner or from the developer (still under construction). Nuances also arise depending on the object: it is a separate house, townhouse or apartment.

Buying a home on the secondary market is a very common option. It consists of several stages. First, decide what kind of housing you want. A big plus of the real estate market in Alberta, Canada is that all property for sale is included in a single national database MLS, available to all realtors. Therefore, seller agents rarely look for buyers themselves: this is done by demand side agents. The buyer's realtor searches for properties according to the client's requests and organizes viewings. It is typical for Canada that it is his agent who shows the selected property to the client, and not the seller or his intermediary. Next comes the deal. It is considered completed if the buyer and seller have agreed on all points: price, payment terms, etc. At this stage, the buyer gives the seller a deposit - approximately 5% - and fulfills other agreed conditions: for example, conducts a technical check or receives confirmation from the bank for a mortgage.


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Where to live?

Alberta Condos for SaleThe most populated areas in Alberta are, of course, Calgary and Edmonton. The inhabited area between these cities is known as the Calgary-Edmonton Corridor and is home to about 75% of the province's total population.

Calgary is a large city located in southern Alberta, in the foothills and prairies. Its area exceeds the area of ‚Äč‚ÄčToronto. More than 1.5 million people live here - it is the third most populous city in Canada. And back in 1988, Calgary became the first Canadian city to host the Winter Olympics. Calgary's economy is made up primarily of the oil industry, agriculture and tourism. However, after the crisis in the 80s, other spheres began to actively develop in the city, so now almost anyone can find a job here. In particular, in recent years, the light industry, high technologies, electronic commerce, the cinema industry, transport, and the service sector have been actively developing.

Edmonton is located about 300 kilometers from Calgary. The population here is slightly less than 1.5 million people. Edmonton is Alberta's cultural, administrative, research and educational center. Edmonton is Alberta's main economic and transportation center. The oil, petrochemical and gas industries, energy, technology, manufacturing and financial sectors are especially well developed here. You can also find work in the service, sales and catering sectors, as Edmonton is home to some of Canada's largest shopping malls. The business newspaper Financial Times once ranked Edmonton as the most investment-attractive city in North America.

The procedure for buying and registering real estate in Alberta

buying property in CanadaThere are six main stages of buying property in Alberta:
1. Selecting an object. To find property in Alberta, it is worth hiring a realtor who can help you navigate the local market.
2. Preparation of a purchase proposal. The real estate agent helps the buyer create an Offer to Purchase for the seller. At this stage, the parties agree on the price, and the buyer pays a deposit, the amount of which usually does not exceed 10% of the price for the object. From this point on, it usually takes 30-60 days to close the deal. Sometimes, especially when obtaining a mortgage, the process takes up to 90 days.
3. Applying for a mortgage (if required).
4. Checking the legal purity. The buyer's lawyer examines the terms of the sale, the signed purchase offer, the title deed, local laws related to the ownership of real estate, and also checks if the object has any encumbrances.
5. Checking the technical condition of the house. During the inspection, the specialist determines the structural defects of the building, checks the condition of the plumbing and electrical wiring. The work of a licensed specialist will cost 300-500 Canadian dollars. This procedure is optional and is almost never done when buying an apartment.
5. Registration of the contract of purchase and sale. The lawyer prepares a Statement of Adjustment, which specifies the sale price and the amount that the buyer must pay to the seller, taking into account the deposit. The buyer transfers the remaining money to the lawyer's trust account.
6. Registration of real estate. After the property is registered in the land registry, the lawyer transfers the money to the seller and provides the buyer with a certificate of ownership.

MORTGAGES IN ALBERTA

Many banks in Alberta provide loans to non-residents who buy real estate both for themselves and for investment. Such organizations include CIBC, TD and Scotia Bank. Terms: The initial payment in most cases is 35%, the remaining 65% is given by the bank at 3-4% per annum. As a rule, larger loan amounts are given only to those who have already lived in Alberta for more than five years, work in the country and have a credit history. Canadian citizens can get up to 80%. Loan terms - from six months to 10-25 years. The minimum amount is $ 10,000.

PROPERTY MAINTENANCE IN ALBERTA

Home maintenance in Alberta costs an average of about $ 6,000 a year. This amount includes taxes, utility bills and insurance. The annual property tax in Alberta is calculated individually and averages 1% of the assessed value. Its value also depends on whether the property is residential or commercial. For a house, this tax is about 3 thousand dollars per year, for an apartment - about 2.5 thousand. The amount can be paid immediately for the whole year or quarterly.

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