How much TIME is needed for a Real Estate Transaction?

       Depends!!  and it really does.  As set out in the Section House Sale Steps, there are many people and entities involved and many other factors that effect how much time is needed to close a real estate transaction.

       In today's environment in Alberta, it is virtually impossible to complete a real estate transaction by the contracted Closing Date. As I write this page (December 8, 2006), the Land Title Office is 22 business days behind!

       I have created an Alberta Real Estate Date Scheduler (AREDS). The one set out herein in ".pdf" format is for a typical transaction.  The downloadable Excel Spreadsheet allows you to insert certain of your information to produce the dates that are applicable to your real estate transaction.  

• Click Here to download a "pdf."  sample AREDS
• Click Here to Download a "locked" Excel Spreadsheet of the AREDS

How much will it COST the Buyer in Interest or Insurance?

        The Land Title Office is way behind.

        What this means is that the Buyer is going to have to pay for Title Insurance, so that the Seller's proceeds are releasable and can be paid on the Closing Date OR the Buyer will have to pay interest on the Cash to Close either at the Contract rate or at the Mortgage Amount-Mortgage Rate.

        The Buyer will not have to pay any insurance premiums or interest if the transaction can be closed using the Protocol Closing.

         A review of the AREDS allows you to calculate the approximate costs of the various alternatives and decide what is the best way to go.

         It is my opinion that in today's real estate environment (December 10, 2006) of major registration delays at the Land Title Office, the Buyer and Seller should split the cost of Title Insurance so that their transaction can be completed using the Title Insurance Closing

• Various forms of the AREDS are available above.