QUOTE (GarthChapman @ Nov 18 2008, 11:26 AM) Tommy, read the Condo Corp Bylaws to see what they say about who can own a stall, and if there are different types of stalls.
You can use a lawyer or do it yourself if you have enough knowledge to handle the requirements, assuming you are paying cash.
Hope that helps,
Hi Garth,
I read the bylaw and it says that a person must be a condo owner. I already have a unit so I am looking to purchase another one.
I wonder if we have parking stall purchase contract under "Critical Forms"???
Tommy
You can use a lawyer or do it yourself if you have enough knowledge to handle the requirements, assuming you are paying cash.
Hope that helps,
Hi Garth,
I read the bylaw and it says that a person must be a condo owner. I already have a unit so I am looking to purchase another one.
I wonder if we have parking stall purchase contract under "Critical Forms"???
Tommy
Hi Tommy,
I did this but used a (fabulous) realtor here in Calgary. We used all the RECA forms, and did it as if it was a regular real estate transaction. It cost me $200 in legal fees at the lawyers. My realtor took a small commission from the seller. (really, it was practically a volunteer job since the commission was so low. But he`s a superstar and we have done lots of business together.)
I decided to use my realtor because he did all the normal stuff, like pull title on the stall, etc. The transaction was very smooth and painless. I just felt that my butt would be better covered if I used a realtor.
Anyway, I am sure most realtors wouldn`t bother...and it looks like you want to do this yourself, but I just wanted to tell you that it can be done, and my ROI on the (extra) stall is MUCH higher than the condo!
My guess if you are doing it privately is that you`d need to pull title and structure the transaction the same or similarly to a real estate transaction since it has to go through land titles. I look forward to hearing from the legal experts on this one!
I did this but used a (fabulous) realtor here in Calgary. We used all the RECA forms, and did it as if it was a regular real estate transaction. It cost me $200 in legal fees at the lawyers. My realtor took a small commission from the seller. (really, it was practically a volunteer job since the commission was so low. But he`s a superstar and we have done lots of business together.)
I decided to use my realtor because he did all the normal stuff, like pull title on the stall, etc. The transaction was very smooth and painless. I just felt that my butt would be better covered if I used a realtor.
Anyway, I am sure most realtors wouldn`t bother...and it looks like you want to do this yourself, but I just wanted to tell you that it can be done, and my ROI on the (extra) stall is MUCH higher than the condo!
My guess if you are doing it privately is that you`d need to pull title and structure the transaction the same or similarly to a real estate transaction since it has to go through land titles. I look forward to hearing from the legal experts on this one!