Education

Let Sanctuary Real Estate’s Experience Work For You

When you have reached the decision to purchase real estate either for a personal residence or an investment you deserve the best from your real estate advisor. Sanctuary Real Estate LTD values are interlocked with their clients, giving you the client the best possible experience. We have developed relationships with many agencies and negotiators that have the same core values as we do. Whether you are looking for property locally, within the province, a winter haven in The Valley of the Sun or a dream come true in France we have the experience that you need. Our experience can help you connect with the right multilingual services, legislation, currency exchange professional and inspectors. These are some of the areas that allow us to excel as a real estate agency. With our worldliness we have drawn from the North American and European business models to provide you with a familiarity you can count on.

Along with real estate sales we also offer access to:

  • Rental Management in our local markets
  • Access to local and French financing services
  • Local design, renovation and new construction services

We would be happy to meet with you and explain our value proposition so you can become a better educated, more informed buyer so you can make the best decision for you and your family for now and in the future.

Real Property Report

A Real Property Report is a legal document that illustrates in detail the location of all relevant, visible public and private improvements relative to property boundaries. It generally takes the form of a plan or illustration of the various physical features of the property including a written statement detailing the surveyor’s opinions or concerns. It can, therefore, be relied upon by the buyer, the seller, the lender and the municipality as an accurate representation of the improvements on your property.

Who needs a Real Property Report?

Property owners, to be informed of:

  • The locations of improvements within the property boundaries,
  • Any encroachments from adjacent properties, and
  • Property compliance with municipal requirements.

Property Purchasers, to be informed of:

  • The boundary and improvement locations on the property, and
  • Any problems relating to the property boundaries.

Municipalities, to assist them:

  • In determining compliance with bylaws and fire codes, and
  • In the planning and development process.

Property Sellers (vendors), to provide:

  • Protection from potential future legal liabilities resulting from problems related to property boundaries and improvements.

Mortgage Lenders, to be informed of:

  • Conformance of improvements with municipal bylaws, and
  • Problems that may have to be resolved prior to registration of the mortgage.

Realtors, to:

  • Provide a visual representation of the property for sale,
  • Meet requirements of the real estate listing / purchase contract, and
  • Have information to avoid delays in completing property transactions when Real Property Report is arranged early in the sales process.

Benefits of a Real Property Report:

  • Problems are identified and can be resolved before a sale is finalized,
  • Owners know accurate locations and dimensions of buildings, improvements, rights-of-way and encroachments relative to boundaries of their property,
  • Purchasers know the physical dimensions of the property for future development,
  • Financing usually requires verified survey information,
  • Property transactions are simplified, and
  • Development and building permits require boundary information.

What is Title Insurance?

In order to explain title insurance, it is necessary to explain what “title” is. When you buy a home, you are in effect buying the title of the property, which is commonly referred to as a “deed” or “transfer of land”. This means that you own the property and your lawyer / notary has registered you as owner in a land titles system. You want to have good title because it means that you will be able you sell your property in the future or obtain financing against your home at any point. To protect your ownership, a title insurance policy provides coverage in the event that your right of ownership is challenged or a loss occurs due to a covered title defect or a claim against your property.

Title insurance is unlike any other kind of insurance. It is not house insurance which only protects the contents of your home or its structure and for which you have to pay a monthly premium.

Title insurance protects your ownership to the property and protects you against:

  • Fraud – fraudulently obtained mortgages on your home
  • Errors in surveys or other official public records
  • Encroachments onto neighboring properties
  • Zoning infractions
  • And many more known and unknown defects that could affect your ability to sell your property in the future.
  • Late closing interest charges

Unlike house insurance, you only pay a one-time premium per transfer or mortgage with no deductible. Title insurance covers all legal expenses related to restoring title, meaning that you do not have to take time off work and deal with the added stress needed to defend yourself.

Top Benefits of title Insurance

  • Fast and efficient closing process – Title insurance will help ensure your transaction closes on time.
  • Survey coverage – Protects against unmarketability (not being able to sell your property in the future or obtain financing against your home) as a result of defects that would have been disclosed on an up-to-date survey, Real Property Report or Location Certificate.
  • Fraud and forgery – protection against fraudulently registered mortgages against your title.
  • Duty to defend – the legal fees associated with resolving insured title issues will be covered
  • Building permit coverage – coverage for renovations completed without a permit that result in a loss.
  • Zoning coverage – protection should a property not meet municipal zoning requirements.
  • Competing interests – protection in the case of someone claiming an interest in your land; for example, an easement for a driveway or a builder’s lien.
  • Problem solving / facilitate closings – we can frequently provide coverage for known defects such as encroachments, delays in registration and zoning violations.
  • Saving money – requesting a homeowner title insurance policy at the time of your real estate purchase may be the best opportunity for you to buy your policy at a lower price. If your lawyer or notary is ordering a policy for your lender, you can buy a homeowner policy at a lower cost.