Category Archives: Real Estate

NEW MORTGAGE RULES, STRESS TEST

The Office of the Superintendent of Financial Institutions (OSFI) released new guidelines for the mortgage industry on October 17, 2017. “These revisions to Guideline B-20 reinforce a strong and prudent regulatory regime for residential mortgage underwriting in Canada,” said Superintendent Jeremy Rudin. Guideline B-20 is effective January 1, 2018. The changes to Guideline B-20 reinforce…
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Alberta – The Condominium Property Amendment Act

On October 12th , Stephen Khan, Minister of Service Alberta said in a Press Release that "Albertans and their government all share a commitment to looking ahead as we improve our quality of life. We recognize that more Albertans than ever are choosing to live and invest in condominiums. They told us that our condominium…
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UPDATING REAL PROPERTY REPORTS

Further to our blog last year introducing the requirement of Real Property Reports (RPR) in real estate transactions in Alberta (not required with most condo sales), we return to this topic to discuss the question as to when an RPR has to be updated. The seller of a home is normally required to provide the…
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