Real Estate Purchase Contracts – Common Conditions


You’ve found your dream property and you’re ready to write the offer! All you have to do is figure out what purchase price you’d like to offer, right? Wrong! Unless you are in a position to pay cash for the full price and aren’t concerned about any future financial legal/structural/maintenance issues you may want to consider putting some Conditions on the Real Estate Purchase Contract (Offer). Conditions are put in to protect you the Buyer (there can also be Seller’s Conditions placed in a Purchase Contract but this article focuses on the Buyer’s Conditions) It’s important to understand what these conditions mean and what will be in your best interest. It’s also important to note that the less conditions you are able to put in the Real Estate Purchase Contract, the more attractive the offer may be to the Seller.

  •  Financing – This ensures that you don’t enter into a contract that you’re unable to get the Mortgage for! Even if you’re preapproved for a certain amount your bank may require more info on the specific property you choose before they’re willing to lend you the money. Don’t get caught being unable to close due to not enough money!
  •  Property Inspection – A Property Inspection by a Qualified Inspector lets you know of any issues that the home may have. Some may be minor fixes and some may be major issues. Once the report is received you can decide how/if you want to proceed with the purchase.
  • Sale of Buyer’s Home – Did you know you can write an offer on a Property even if you need to sell your home first? Once you sell your home you remove this condition or if the Sellers receive another offer they’d like to accept they can give you agreed upon notice and if you’re unable to remove the condition they can enter into a contract with the new Buyer.
  • Condominium Documents – If the property is a Condominium you will want to review the Documents and make sure they are acceptable to you.
  • Water Quality – If the property is on a private well system, you want to ensure the water is fit to drink. You may also want to do a flow test.
  •  Subdivision Plan – This is your opportunity to review and approve the Subdivision Plan


A Real Estate Purchase Contract contains a lot of information and some of it can be confusing/unclear. These descriptions of the Conditions are simplified and there are also many other conditions/terms you may need to consider to make the Purchase go as smoothly as possible. The best way to ensure you’ve got all your bases covered is to work with a knowledgeable Realtor® who will LISTEN to your needs and work FOR you and WITH you. More info on working with a Realtor® can be found here: Alberta Real Estate Association – Consumer Information

GET the BEST in the WEST

Dori Westin and Brad Insel

Price dropped on 5004 60th Street in Rocky Mountain House, Rural NW Alberta

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Announcing a price drop on 5004 60th Street, a 1,270 sq. ft., 1 bath, 4 bdrm single story. Now $154,000. AFFORDABLE!

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Single Story For Sale in Rocky Mountain House, Rural NW Alberta

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•  1,270 sq. ft., 1 bath, 4 bdrm single story$154,000. AFFORDABLE!

– Here’s a great little starter home or get started in the rental/investment market in a convenient, unique location. This AFFORDABLE 4 Bdrm/1 Bath home with a metal roof, enjoying some very nice, fairly recent renos, a huge fenced yard, a single Detached Garage should not be overlooked. Why pay someone else’s Mortgage while renting when you can pay your own for less?!? Currently rented, 24 Hr Notice required to view.

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#16, 5411 50 Ave in Rocky Mountain House, Rural NW Alberta is Sold!

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The manufactured home at #16, 5411 50 Ave has been sold.

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How to Pay Off your Mortgage Quickly

 house moneyHow to pay off your mortgage quickly


Many financial planners will tell you that one of the best investment strategies you can adopt is to pay off your mortgage in the shortest time frame possible.  Here are a few tips to put your mortgage repayment schedule on the fast track, and with a minimum of hassle and stress.


  • Select the most frequent payment option available. By choosing to make your mortgage payment on a bi-weekly, or better still, a weekly basis versus monthly payments, the result is making extra payments every year.  Over the life of your mortgage loan, this approach can save you thousands of dollars in interest, and pay off your mortgage years earlier.  Best of all, you’ll hardly notice the difference, since you’ll simply be making regular payments.

piggy bank

  • Consider a closed mortgage. Getting the lowest rate mortgage available just seems like common sense, yet a great many homeowners choose open mortgages versus the lower rate closed versions.  Unless you’re expecting a windfall and are planning to pay off your mortgage before the end of it’s term, closed mortgages may be your best choice.  Although you can’t add extra money whenever you wish, most closed mortgages allow for an annual lump sum payment, perhaps ten percent of the loan.  Talk to your lender to find out what provisions their closed mortgages offer for repayment.  In most cases, you’ll find that the lower rate closed mortgage offers you the best alternative.


  • Shop around for mortgages. Gone are the days of “one-stop financial shopping” when people routinely arranged for mortgages at the same place where they did their banking.  Your mortgage represents one of the biggest financial commitments of your life, so it pays to do some research and a little comparison shopping.  There may also be some financing options available to you that you haven’t even considered.  Ask your Coldwell Banker real estate professional to tell you more.


  • Lock in rates while they’re at their most affordable. A good way to protect yourself against a potential increase in interest rates is to get pre-qualified for a mortgage, and lock in your interest rate now with your lender.  A difference of even a quarter percent in interest can add up to thousands of dollars over the life of a mortgage.  Rates are very favorable right now, so why not protect yourself and lock in the current rates while you look for a home, and avoid the risk of paying a higher mortgage payment if rates go up before you close.

 Central Alberta has a number of Mortgage Professionals ready to assist you.  Once you’ve got the Mortgage nailed down, Dori Westin and Brad Insel are ready to help you find and BUY your perfect home, whether you’re a first time home buyer, down sizing, or moving up.







Manufactured Home For Sale in Rocky Mountain House, Rural NW Alberta

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Beauty Mobile, Ready for your Family!

•  1,216 sq. ft., 2 bath, 3 bdrm manufactured home$129,900.

– Beauty of a Mobile in fantastic location walking distance from Downtown. Upgraded Washer/Dryer, Non-Smoking Home. Find peace of mind with the Security System already installed and ready to protect your family. Lot rent includes Garbage Removal, Snow Removal in park, Water & Sewer

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So You Think You Can House Shop????


The time has come, you’ve thought about it long and hard and you’re ready for a property search. You’ve looked at your budget, talked to your bank/mortgage broker and all is as it should be. You’re ready to buy a house. Think you should start surfing the web and see what’s out there?download Not yet. Unless you want to spend the better part of your free time sitting in front of a computer.


Property Search Engines

There are literally THOUSANDS of Real Estate home sites to peruse and if you’re not clear on what you’re looking for in a property search it’s easy to get overwhelmed. It’s a good idea to first figure out EXACTLY what you’re looking for. Here’s some good questions:

  • How large does the house have to be for my family to be comfortable?
  • How many rooms and bathrooms are required?
  • What size of yard will accommodate children and pets?
  • What are my current parking and transportation needs?
  • How important is having a house close to work, local amenities, public transportation?
  • In which areas of the city/country would you like to live? Are there areas that you want to avoid?
  • Are there special considerations required for hobbies, guests, potential additions to the family, physical limitations or disabilities?

The answers to these questions will help you not only determine the type of house that will be the best for you, but also save you time from viewing houses that don’t meet your personal criteria.

To start your home search and find local listings in the area, contact me and we can review your criteria and find houses that meet your personal criteria. Don’t forget Realtors® have access to ALL listings that can be found online as well as those not yet on the market. Let us do the leg work for you and find what YOU need to

Dori & Brad



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