# Calgary Real Estate Questions and Answers Plain answers to common questions about buying and selling a home in Calgary, Alberta. **Is there a land transfer tax in Alberta?** No. Alberta does not charge a land transfer tax. Buyers pay land title registration fees instead, which your lawyer collects at closing. **How much down payment do I need to buy a home in Calgary?** In Canada the minimum is 5% of the first $500,000 of the price and 10% of the part above that. Homes priced at $1.5 million or more need at least 20%. With less than 20% down, the mortgage needs default insurance. **Do I need a lawyer to buy or sell a home in Alberta?** Yes. In Alberta a lawyer handles the closing: registering the title and mortgage, and moving the money between buyer, seller and lenders. **What is a Real Property Report?** A Real Property Report (RPR) is a survey drawing that shows the buildings, fences and decks on a lot and where the property lines are. Alberta's standard purchase contract usually has the seller provide one with evidence of municipal compliance. Buyer and seller can agree to title insurance instead. **What conditions do buyers usually put in an offer?** The most common are financing, a home inspection and, for a condo, a review of the condo documents. Each has a deadline. If a condition is not removed in writing by its deadline, the purchase does not go ahead. **What happens to my deposit?** The deposit is held in trust, usually by a brokerage, and is applied to the purchase price at closing. What happens to it if a sale does not complete depends on the contract, so ask before you sign. **What are closing costs for a buyer in Calgary?** Plan for legal fees, land title registration fees, a home inspection, title insurance if you use it, property tax and condo fee adjustments, home insurance and moving costs. Your lawyer can give you an estimate for your purchase. **When do I get the keys on possession day?** Keys are usually released around noon on possession day, once the seller's lawyer confirms the money has arrived. **What should I check before buying a condo in Calgary?** Read the bylaws, financial statements, reserve fund study and recent meeting minutes, and ask about condo fees, special assessments, parking, pets and rental rules. Many buyers pay a condo document review company to do this. **When are Calgary property taxes due?** The City of Calgary mails property tax bills in late May and they are due at the end of June. The City also offers a monthly payment plan called TIPP. **How do I find out what my Calgary home is worth?** Ask Derek Little for a home value, prepared personally from recent nearby sales and what is for sale now. Call or text 403-690-4960. **Does this site show every home for sale in Calgary?** It shows the Calgary homes on the MLS® System that brokerages share through CREA's DDF®, updated every hour. Search by community, address or MLS® number. ## Questions about your Calgary move? Derek Little, REALTOR® with REMAX House of Real Estate, answers them personally. [Call 403-690-4960](tel:+14036904960)[Text 403-690-4960](sms:+14036904960) [Ask Derek a question](https://calgaryremax.com/contact/) ## More Calgary home guides - [**Calgary Home Buying Checklist** A step-by-step checklist for buying a home in Calgary, from mortgage pre-approval to possession day.](https://calgaryremax.com/resources/calgary-home-buying-checklist/) - [**Calgary Home Selling Checklist** A checklist for selling a home in Calgary: paperwork, getting it ready, showings, offers and closing.](https://calgaryremax.com/resources/calgary-home-selling-checklist/) - [**Calgary Moving Checklist** A moving checklist for Calgary: what to do eight weeks out, the week before, on moving day and after.](https://calgaryremax.com/resources/calgary-moving-checklist/) REMAX House of Real Estate · Listing data from CREA's DDF®. REALTOR®, REALTORS®, and the REALTOR® logo are certification marks that are owned by REALTOR® Canada Inc. and licensed exclusively to The Canadian Real Estate Association (CREA). These certification marks identify real estate professionals who are members of CREA and who must abide by CREA’s By-Laws, Rules, and the REALTOR® Code. The MLS® trademark and the MLS® logo are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA.