Nicoleta  Kallo
Nicoleta Kallo

phone: (403) 254 2540 fax: (403) 366-5157 Email Nicoleta

Calgary Business Partners


Mortgage Brokers

What is a Mortgage Broker?
Just as an insurance broker finds you the best deal on insurance, a mortgage broker finds you the best deal on a mortgage. Rather than working for one financial institution, they are independent and deal with several different financial institutions. This allows you more choices and more competitive rates. It also means that their advice is impartial and based on whatever is in your best interest.
Let an expert take care of getting you a better rate: Because they study mortgage rate markets and have direct access to several different lenders, Mortgage Brokers can offer you highly competitive rates that are among the best available. And, while you may not enjoy negotiating with financial institutions, that's their specialty- making sure you get the most attractive rate currently on offer.
Mortgage Brokers can shop dozens of lenders in the time it takes you to book an appointment at your bank: Shopping for mortgages can be time consuming and frustrating if you do it yourself. That is  why more and more Canadians are relying on mortgage brokers. They know the quality of products offer by the various lenders and can quickly short list the ones that best match your needs. You will end up with the best features and rate, all in one stop.
Advice that is  based solely on your needs and in your best interest: Because they DO NOT work for any of the lenders, they won't try to lead you in a certain direction. After making sure they understand your needs, Mortgage Brokers will present you with some options and together you will decide which mortgage is best for you and your financial future. No pressure. No ulterior motives.
Not only do they understand everything there is to know about mortgages, they can explain it in plain English: As mortgage brokers, we are 100% dedicated to financing your home. We know all about GDS, PIT, ARM, VIRM, LTV, ETO, etc. and can explain everything you really need to know in easy-to-understand terms. So all you have to think about is enjoying your exciting new home! Their expert, unbiased, fast service is FREE! Even though they work for you (not the financial institution), they get paid by the financial institution (not you!). The lending institutions reimburse them for bringing creditworthy customers like you to them.

As your mortgage broker, they are highly motivated to get your mortgage completed fast: After they have  analyzed your financial situation and goals, they shop several different lenders for the mortgages that best meet your needs. Once you and our agent agree on the final choice, they place your mortgage with that particular lender. Only after all the details are taken care of and your mortgage is complete do they receive our "finders fee" from the lender. This provides strong motivation for them to keep you deal moving forward to early completion!

Even though they can usually promise a discounted rate, they only deal with first quality, brand name lenders. Most of the lenders are established Canadian financial institutions you are used to. To that list, they also add some innovative broker-only lenders who offer even more attractive rates and features. But rest assured, all the peace-of-mind features you require like CMHC and GE insurance are fully available. Mortgage Brokers are committed to the highest ethical standards and doing everything they can to ensure your financial future is 100% secure.
Let them help you find the best deal on your mortgage: one that helps you achieve everything, simply and affordably.

 

Lawyers

Billions of dollars in Canadian real estate is transacted every year. Despite the meticulous procedural and documentation used in real estate business, errors, oversights, and misinterpretations occur as do outright fraud. Some homeowners have faced eviction when their land registry documents were forged by a criminal and ownership was transferred without them knowing about it. This individual bilked 1.5 million dollars in phony mortgages from a mortgage company before he was caught. He actually paid the land registry fees of almost $10,000 each to take ownership of 4 homes. Real estate lawyers were later amazed at how simple it was to do. Most real estate lawyers deal with writing real transaction documentation and ensuring all the t's are crossed so to speak. Mistakes in real estate transactions can have very serious consequences. Construction and renovation fraud and mistakes are also handled by real estate lawyersElderly people with older houses needing repair are often targeted by crooks who bill them for excessive amounts and often do shoddy work or do no repairs at all. Predatory home equity lenders often target the most vulnerable home owners - the elderly and people in financial crisis. The costs and fees of the loans is often outrageously excessive however the homeowners were unaware that they were being ambushed. Most of them end up losing their homes...

Choosing a Real Estate Lawyer - Making the Right Choice Up Front

by Ron Thibeault

One of the questions that people have asked over and over again is how to select a real estate lawyer. The answer is pretty complex because there is no easy, fits everyone answer. Of course, not every jurisdiction requires that you have a real estate lawyer. However, when one is needed choosing a real estate lawyer involves a large number of variables ranging from experience to personality issues. There are, though, some basic things that everyone should be working from. The first issue most people focus on is price …WRONG! Price is only one factor and unless the fees of one lawyer are 30% more than another then it should become a minor fact. Why?… It's simple actually…. by focusing on price you sometimes fail to take into account the more important issues like experience and knowledge. Price should only be a factor when all other things are relatively equal or when the price from one lawyer to another varies dramatically. The biggest concern we all should have when selecting a lawyer is experience. This is the same as with any other business… you want the best person available to help. It's not when things are going well that you have to worry it's when things are going badly… it is at this time that the experience of your lawyer is most important.

How do you judge experience? Again, there is no fast easy answer. There are, however, some basic questions you should be asking. Here are a few of them:

1. How many real estate transactions of my type do you do in an average month?

 

 

2. Who are your assistants, what are their roles and how much experience do they have?

 

 

3. When it comes time to meet to sign documentation who will I meet with?

 

 

4. What are the steps that I will have to go through from this point forward and what can you do to make the process easier?

5. What are your fees and are they firm quotations or simply estimates?

These basic questions will help you get a feel for the person you are dealing with and will help you make a decision. Do not rush to get answers… make sure that you take your time and get the lawyer to flesh out all answers as much as possible. Once you have armed yourself with this basic information compare your notes and make your decision.

What should you do once you select who it is you want to represent you? There is no easy answer to this but the KEY is simply this… do not wait for your lawyer to contact you unless they instruct you to do that. Don't assume that your real estate lawyer will know every single thing about the file or what is happening. With so many lines of communication - seller's lawyer to buyer's lawyer, seller's realtor to seller's lawyer, seller to seller's lawyer, etc. - the possibilities for one line of communication to falter are always there.

The important thing is for you to ensure that the lines of communication are open on your side. In other words, if your Realtor, the other party or anyone else contacts you about anything to do with the transaction, simply call your lawyer and pass on the information that you have received or have been asked to divulge. What may seem to be a fairly straightforward thing at the moment might have important legal ramifications down the road.

 HOME INSPECTORS

The Inspection- We Want You There

Your inspection will be an informative, educational experience. By the time the inspection is done, you will likely know the home better than the previous owner. We guide you through the home and teach you about each of the major systems and components of the home. By accompanying us on the inspection you also have the opportunity to ask questions and receive detailed answers. You will be impressed with the inspector's technical competence, patience and concerned attention to detail.

Objectivity - Ensure that the home inspection company that you choose does not solicit or perform any of the work they recommend. They should not be affiliated with any contractor nor give or receive any referral fees. This ensures that their recommendations are objective and unbiased.

What to expect from the Inspection

Our Inspectors will examine all the systems and components of the home, including:

  • Structural
  • Electrical
  • Heating/Cooling
  • Plumbing
  • Kitchen
  • Floors
  • Walls/Ceilings
  • Roof
  • Basement/Crawlspace
  • Gutters/Drainage
  • Exterior Finish
  • Porches/Decks
  • Fireplaces
  • Garages
  • Site Improvements
   

 

  • It will be a visual, unbiased, non-invasive inspection. 

 

  • The inspection will be done in daylight and will include an extensive, computer-generated report including photographs.
  • The inspection will identify visible signs of problems or potential problems. The serious problems will be identified and smaller deficiencies will be mentioned as a courtesy.
  • Our Clients and their Realtor are encouraged to attend the inspection. It will be an informative and educational experience with an opportunity to ask questions and receive detailed answers.
  • At the completion of the inspection you should know the home better than the previous owner.
  • The inspector will identify and tag important water and electrical shut-offs.
 

 PREPARING for the INSPECTION

Buyer - Understand the home inspection process, its benefits and limitations. The weather or accessibility to an area may cause a limitation. Our buyers are always encouraged to attend the inspection. It will be an informative and educational experience leading to a fully informed purchasing decision. Our objective is to discover major deficiencies that may effect your buying decision. Preventative maintenance suggestions and minor deficiencies are not usually considered grounds for renegotiation but may be brought to your attention as a courtesy. The inspector will supply a rough cost estimate for remedying major deficiencies.

Seller - There are many deficiencies that frighten buyers or affect the price of a home much more than the cost of the repair. The following tips should help you prepare yourself and your home for the buyer and their inspector.

Disclosure

Do Not attempt to hide any problems or defects. This could cause future liabilities to jump up and bite you when you least expect it-- honesty is the best policy.

Serious Defects
If you think you're home has a serious defect get it professionally evaluated. The problem can always be fixed and often for much less than you expect. A serious defect will usually impact the value of your home considerably more than the cost of the repair.

First Impression
Give the impression that your home is well maintained, an attitude of pride of ownership

-- trim trees, bushes and grass
-- clean debris from eavestroughs
-- replace broken windows and hardware

Good Working Order
Make sure everything is in good working order

-- doors and windows open and close smoothly and don't stick
-- clean and service the furnace and replace the filter
-- clean and service the humidifier, remove scale etc.
-- service plumbing fixtures, dripping taps, running toilets etc.
-- overhead garage door should run smoothly and automatically reverse

Bathrooms
-clean and repaired caulking around bathroom fixtures and repaired cracked grouting

Exterior
-- repair or replace caulking as required around the exterior of the home around doors, windows and other openings in the exterior finish.

Exterior Trim
-- paint and repair exterior trim as required
-- this helps aesthetically and protect the trim and windows seals from deterioration

Storm Water Management
-- make sure eaves troughs are well secured and cleanout leaves and debris.
-- make sure eaves trough downspouts discharge at least five feet from the foundation
-- make sure that landscaping is tapered so as to encourage water to flow away from the house.

Water Damage and Stains and their Cause Should Be Repaired:
-- probably the biggest deterrent to a home buyer is signs of water damage
-- excess condensation on windows damages drywall below the windows
-- roof or plumbing leaks or overflows from plumbing fixtures that have stained ceilings below.

Access:
-- make sure to provide easy access to the furnace, hot water tank, electrical panel, attic hatch, garage and all rooms in your home
-- don't give the appearance of hiding something by having large amounts of stored items against a wall. Buyers do assume the worst.

Your Smoke Detectors Will Be Tested
-- if they are connected to monitoring service, inform the monitoring company and your inspector

 Many home sellers choose to have a professional inspection performed before they list their property for sale. The inspection report can serve as a valuable tool to prepare your home for sale.

 

The Report

Our computer-generated report is the leader in the industry. We've combined the best of the checklist and the narrative style format to offer you a clear understanding of your home. The report is easy read, prioritizes the findings and includes photo documentation plus diagrams. This helps you understand which areas need to be addressed immediately and which can wait. The report will identify all major deficiencies and safety hazards that are visible at the time of the inspection and provide repair and replacement costs and maintenance advice.

 The EquipmentAs a leader in the inspection field we are continually upgrading our inspection equipment and report delivery. Every inspector carries state-of-the-art inspection equipment including moisture detectors, carbon monoxide detectors, combustible gas detectors, electrical circuit testers, digital cameras, portable computers and printers.

Moisture Detector - The moisture detector detects excess moisture in building materials behind finish surface that you can see. The inspector can determine if a stain on the surface is the sign of a onetime overflow above or if it is an active leak.

Carbon Monoxide Detector - Carbon Monoxide is a colorless, odorless and deadly gas. It is produced as a product of incomplete combustion. We perform the carbon monoxide test first in the furnace plenum to determine if the carbon monoxide is being produced and then in the living area to determine if it is escaping into the home.

Electrical Circuit Tester - The electrical circuit tester is needed to determine the continuity of wiring, the polarity, the presence of grounding and the operation of ground fault circuit interrupters. [CFCI's]

Combustible Gas Detectors- Combustible gases are safety hazard and this detector is used to determine their presence.

Tic Tracer - This tool is used to determine whether electrical current is present in an electrical wire or fixture.

Water Pressure Gauge - The water pressure supplied to home is tested to insure it is adequate for your needs yet not so high it will cause failure in your plumbing fixtures

Digital Camera - A picture is worth 1000 words is a well-known saying. This is definitely true of the pictures in the home inspection report. It may be necessary for our client to explain a deficiency to the third party and a picture makes an explanation more understandable.

Please do not forget: KalloTeam is always here to advise and help!