Frankie’s Fredericton

All the predictions, if the economists and financial folks can be believed, are that 2009 will be a slow year in real estate. This information will translate into a “buy” signal for many, that is, they will interpret that as a “buyers market”. This does not mean it is a bad time to sell, it just means you have to be more aggressive, more in tune with the market you are in, and it is important to have the right “team” to effectively sell your house.

Secondly, because of the economic downturn globally, mortgage rates have dropped. Prime will be at 3.5% effective January 1st. 2009. Mortgage rates for a 5 year term are at less than 5%. Buyers will be getting locked in with a good rate early in 2009 and proceed to buy their dream home, will yours be on the market? Continue reading »

PROPERTY ACQUISITION
When purchasing a property, there are two ways to ensure that you are not exposed to unreasonable risk in completing your purchase, and that you have good and marketable title to your property.

1. A Lawyer’s Certificate of Title is the traditional means of protecting yourself and your lender on a property purchase. The lawyer searches the records at the Registry of Deeds, and provides you with an opinion of the title to the property. This opinion may be subject to certain limitations. The lawyer’s certificate ensures that you will have good and sufficient marketable title. You will also have to obtain a Surveyor’s Location Certificate to confirm that the dwelling is located completely within the boundaries of the lot. Your mortgage company will usually require these two certificates. A Tax and/or Zoning Certificate may also be required. Continue reading »