The title can tell a buyer a lot about a piece of property and most buyers will want to review the title for a property they are thinking of purchasing. Titles are a public record and anyone can view them through the Alberta Government for a small fee. Here are a few of the things a potential buyer will find out about your property when they view the title:

  1. The names of the legal owner(s) of the property.
  2. Whether the property is a single family home or a condo. This may seem like a simple question to answer just by looking at a property, but a detached home could be a “bare land condominium” and some half duplexes are condominiums.
  3. When the legal owners became the legal owners of the property, and it may tell them how much they paid for it.
  4. Any mortgages registered on the property.
  5. Any liens, caveats, encumbrances or restrictive covenants, or any lis pendens on the property. 

How does all of this related to the negotiating your sale? Well, you can assume that the buyer will know all of the above information, and knowing what they know is much better than no knowing. In other words, the buyer will know how long you’ve owned the property, how much you owe and other pertinant information. If you list your property with a REALTOR® they can provide you with a copy of your title and explain it to you.

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