Real Estate FAQ

You're not legally required to use one — but as a buyer, your agent is paid by the seller's side, so representation costs you nothing out of pocket. What you get is access to off-market intel, negotiation expertise, and someone who has done this transaction dozens of times. Going unrepresented to save money on a purchase this size is rarely the right trade-off.

The minimum depends on purchase price. For homes under $500K, the minimum is 5%. Between $500K and $999,999, it's 5% on the first $500K and 10% on the remainder. At $1M and above, you need 20% minimum — no CMHC insurance at that price point. A larger down payment reduces your mortgage insurance premium and monthly payments, so there's a real financial case for putting down more if you have it.

Pre-qualification is a quick estimate based on numbers you self-report — useful for a ballpark, but it means very little to a seller. Pre-approval is a formal assessment where the lender verifies your income, credit, and assets and commits to a specific amount under stated conditions. In a competitive market, you want pre-approval before you start seriously shopping. Sellers won't entertain offers from unverified buyers.

Budget 1.5%–4% of the purchase price on top of your down payment. The main components: legal fees ($1,500–$2,500), title insurance (~$300–$500), a home inspection ($450–$700), property tax adjustment (you reimburse the seller for any pre-paid property tax), and mortgage insurance premium if your down payment is under 20%. Alberta has no land transfer tax — that's a significant advantage over BC and Ontario buyers.

From the day you start seriously looking to possession day: typically 6–12 weeks if the market is cooperative and you're decisive. The search phase varies the most — some buyers find the right home in two weeks, others take three months. Once you have an accepted offer, the standard timeline is 30–60 days to possession, though this is negotiable. Get your pre-approval before you start: the search clock shouldn't start until your financing is confirmed.

It depends on your financial position and the market. Selling first gives you certainty — you know exactly what you net, and you make your purchase without a condition. Buying first can mean carrying two properties if your home takes longer to sell than expected. In a balanced or buyer's market, most people sell first. In a hot seller's market where your existing home will sell quickly, buying first with a subject-to-sale condition is sometimes possible. This is one of the most consequential decisions in the transaction — talk to Nick before you decide.

Yes. Even for new builds. A home inspection typically costs $450–$700 and gives you a qualified professional's assessment of the property's mechanical systems, structure, and any visible deficiencies. The inspection condition also gives you a legal exit from the contract if the findings are significant. In competitive markets some buyers waive inspections to win — this is a risk decision Nick will help you understand based on the specific property and your situation.

It varies significantly by property type and price range. As of mid-2026, the detached market is relatively balanced, the luxury segment ($1M+) has seen gains, and the apartment condo market is clearly in buyer's territory with elevated supply. Your strategy should be calibrated to the specific segment you're buying in — not to the overall headline. Nick tracks this weekly and will tell you exactly what conditions look like for your target.

The main cost is commission — typically 3.5%–7% of the sale price, split between the listing brokerage and the buyer's brokerage. You also pay legal fees on your end ($1,000–$2,000), any pre-sale repairs or staging you choose to do, and a property tax adjustment if the buyer takes possession before your annual tax payment. Mortgage discharge penalties may apply if you're breaking a fixed-rate mortgage mid-term — confirm this with your lender before listing.

Your property's market value is determined by what a qualified buyer will pay for it today — not your assessed value, not what you paid, not what your neighbour thinks. A proper comparative market analysis (CMA) looks at recent sales of comparable properties in your neighbourhood, adjusting for size, condition, features, and time on market. Nick prepares detailed CMAs for every listing and will give you a frank, data-based price recommendation — not the inflated number some agents use to win the listing.

Spring (March–May) is historically the most active buying season — higher buyer demand and typically more competition for well-priced homes. Fall (September–October) is the second peak. That said, motivated buyers exist year-round, and inventory is lower in winter, meaning less competition from other sellers. The best time to sell is when your home is properly prepared and priced — market timing is secondary to presentation and pricing.

Days on market varies by property type, price range, condition, and neighbourhood. In balanced market conditions, a well-priced, well-presented detached home in a desirable Calgary neighbourhood typically sells within 2–4 weeks. Overpriced properties sit — and the longer they sit, the harder they become to sell. Getting the price right at listing is the single most important factor in minimizing days on market.

The highest-return preparation is almost always decluttering, deep cleaning, and a fresh coat of neutral paint where needed — all relatively low cost with meaningful impact on buyer perception. After that: address any obvious deferred maintenance (dripping taps, broken fixtures, damaged flooring), improve curb appeal, and consider professional staging for vacant properties or rooms that photograph poorly. Nick will walk through your property before listing and give you a prioritized list of what's worth doing and what isn't.

List price is what you ask. Sale price is what you get. The gap between them depends on market conditions and pricing strategy. In a seller's market, well-priced homes can sell at or above list. In a balanced market, expect modest negotiation. The sale-price-to-list-price ratio for your specific property type in your specific neighbourhood is something Nick tracks — it's one of the key inputs into an accurate pricing recommendation.

Not necessarily. Your property assessment is calculated by the city as of July 1 of the prior year using mass appraisal methods — it's a tax tool, not a market valuation. Assessments often lag real market movements, can differ significantly from actual sale prices, and don't account for the specific condition and features of your property. Use your assessment as a reference point, not a list price anchor. A proper CMA from Nick will tell you what the market will actually pay today.