Closing A Pre-Construction Property in Calgary
Hi, my name is Kyle Dovigi and I have helped over 150 people to close on their pre-construction properties in Calgary - including 4 of my own personal properties! Learn from my experience and mistakes! I am here to help, so contact me anytime.
Whether you're a first-time investor or adding to your portfolio, this guide is designed to make the closing process as simple and stress-free, and to protect your investment. I’ll walk you through every step—what to expect, what to prepare, and how to ensure a seamless closing from start to finish.
SECTION 1
Preparing for Closing
SECTION 2
Required for Closing
SECTION 3
30 Days Before Closing
SECTION 4
Closing Week
SECTION 6
Maximizing Your Investment
11) Property Management
If you are a remote investor then hiring a processional local property management company to handle the day-to-day operations of your unit and communicate with your tenant is generally a good idea.
12) Property Taxes
Calgary property taxes based on the assessed value annually and are the responsibility of the landlord.
13) Condo Fees
Each condo hires a management company to handle the maintenance and upkeep of the building. Condo fees are collected by the company to pay for unmetered utilities and contributions to the reserve fund.
14) Holdco Registration
If you bought your property under a holding company and it was formed in another province, it must be reregistered in Alberta prior to closing. If you bought the property in your personal name, then this doesn’t apply to you.