Curtis Leibel 780-438-2500

When looking to purchase a condo one of things you will need to consider is parking.  There are many different options that vary between condos – you will want to know if it is covered/uncovered, underground, leased, assigned, titled, powered, single/double/tandem etc….

Here are some things you may want to consider investigating before proceeding with a purchase:

Assigned parking – make sure to do your due diligence to ensure it is actually assigned at that it will be transferred to the new owner.  It would be prudent to have the condo board write a letter confirming that it will in fact be transferred to you.

Titled parking – This is easy to confirm.  Have your Realtor pull the title of the property.  If it is titled it will be listed here.  Also realize that you will most likely have to pay property taxes on the parking stall in addition to the condo unit

Leased – If leased, how much and for how long?  Will you be able to renew the lease as a different owner?

Powered – check to see if there is a plug for your stall.  Also ensure in the condo documents that you are not responsible for the energy fees for the plug (most often it comes from condo fees).

Condo plan – If the parking stall is legal and part of the property it must on the condo plan – which have to be provided as part of the condo documents package

Most importantly – when viewing the property try and find the stall/s in person so you can identify exactly where it is and what shape it is in.

I have a beautiful half duplex for sale in the up and coming community of Laurel.  If you are tired of the seeing the same style duplex over and over, you will be blown away by this one.  The upgrades total over $45,000 and include (but are not limited to) :

– dark hardwood

– custom cabinets

– quartz countertops

– undermount sink

– double door fridge with water dispenser

– natural gas stove

– slow close pullout cabinets

– hidden pantry

– raised bowl sinks

– rain shower head and spray unit

– front load washer and dryer

– oversized 65 gallon water tank

– retractable screen doors on front and back.

-detached double garage, fully landscaped and fully fenced

The list goes on an on!  Come check out this modern one of kind duplex and you will not be disappointed.

Many listings come on the market today with the caveat “GST may be applicable”.  Basically this a lazy way to say you may have to pay GST, but I don’t know for sure.

First of all, it is entirely the sellers responsibility to determine whether or not GST is to be paid.  However, even as a buyer, it is in your best interest to do some research and make sure what the seller has determined is correct, otherwise future issues may arise during conveyencing.

On the surface you can expect to pay GST on the sale of any brand new home or commercial property and buildings, commercial land, and farm land.

On the other hand, any USED residential complexes (including anything lived in, mobile properties and multi family dwellings) are exempt from GST.

Personal use property is also usually exempt from GST – this includes vacant residential lot for personal use, recreational property with a cabin, or a rural property that has never been used commercially.

The biggest grey area for GST is usually around farm land.  If there is any revenue generated from the farm land (pasture or crops) than GST applies – however only to the revenue generating portion (not the house and the land that it resides on).

So – as long as you are purchasing or selling a USED home, GST is not applicable.  However in any other scenario it would be prudent to have you and your Realtor do some further research into the topic, regardless of whether you are on the buying or selling end.