In the short term, those owners that are transferring property in unaffected areas will see some issues or delays as the City of Calgary development and Land Titles are closed.
A real property report (RPR) cannot currently get a stamp of compliance and Land Titles is being done through Edmonton. You should contact your lawyer to see how your particular sale or purchase will be affected but most will close though some paperwork may be delayed.
For those transactions in evacuated or damaged areas, you need to contact your lawyer. Every situation is different and legal guidance is required. If your law office is closed, leave a message as most are trying to check on clients even if they cannot access their offices.
The market continues and homes are still being sold and purchased. Please consider road closures and updated news when making plans.
Current news regarding updates/road closures: http://www.calgarycitynews.com/
Moving forward, those homes that were evacuated will be sold at some point in the future, be that in 1 year or 30. Take photos of your home, especially if it is in an evacuated area but you had no damage, taking stock of what was saved as well as what was damaged. It’s hard to remember while trudging through mud, but taking stock of repairs and keeping photos, receipts and a diary of events may help you in the future.
For condo owners, contact your property management company and understand what information will be available in condo documents for future owners.
If you are considering a purchase of a damaged property in the short term, before homes are repaired and insurance and relief funds are understood, careful due diligence is required and most likely specific contract conditions and legal assistance will be needed.
If you feel lost and need assistance, please reach out and ask for help. The City of Calgary has opened 9 Support Centres today (June 26). Please go and ask for help at one of the 9 centres. Locations: http://www.cocnmp.com/eoc/community-support-centres.pdf or call 311 for assistance.
We are still in a state of emergency and it isn’t business as usual. In terms of real estate and time sensitive items, get the professional assistance you need.
Some folks are at the edge of their patience and under great stress. Businesses need your support so please buy local, support local services and sign up at yyhelps.ca with any special skills if you can
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