10 Most Important Definitions for the Alberta Real Estate Exams
Release Date: 11/05/2021
Investing Condo Fees… Where Does the Interest Go? 🏢💰 | Alberta Condo Reserve Funds Explained
Alberta Real Estate Tutor
Investing Condo Fees… Where Does the Interest Go? 🏢💰 | Alberta Condo Reserve Funds Explained In this Q&A session, Raman answers a question many condo owners — and future REALTORS® — have: when condo fees are invested and earn interest, where does that money go? Here’s what you’ll learn in this video: 🏦 How It Works: • Condo corporations often invest the money collected through condo fees. • Any interest earned goes directly into the reserve fund — not to the corporation or unit owners. 💰 Why It Matters: • The reserve fund is used for major repairs and...
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Who Likes Condominiums? 🏢 | Why Seniors and Young Buyers Choose Condos in Alberta
Alberta Real Estate Tutor
Who Likes Condominiums? 🏢 | Why Seniors and Young Buyers Choose Condos in Alberta In this Q&A session, Raman explains why condominiums appeal to different groups of buyers, from seniors to young professionals and first-time homeowners. Here’s what you’ll learn in this video: 👵 Seniors & Retirees: • Condos offer low-maintenance living — no lawn mowing, no snow shoveling, and no major repair responsibilities. • Many senior-focused condominiums have age restrictions (e.g., 55+ or 60+) and offer amenities like nurse visits or community activities. 👩💻 Young Buyers...
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Joining a Cloud Brokerage as a New Realtor 🏡☁️ | What to Consider Before You Decide
Alberta Real Estate Tutor
Joining a Cloud Brokerage as a New Realtor 🏡☁️ | What to Consider Before You Decide In this Q&A session, Raman shares an honest and practical perspective on what new REALTORS® should think about before joining a cloud brokerage. Here’s what you’ll learn in this video: 🤝 Mentorship Matters — As a new agent, you’ll likely need more hands-on support. Joining a cloud brokerage where your mentor is in another city can be challenging. 🏡 Experience Counts — Learning from someone who has closed many deals can accelerate your growth — but joining someone who’s...
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Do You Need an ESA Every Time for a Rural Property? 🌾🏡 | Environmental Site Assessment Explained
Alberta Real Estate Tutor
Do You Need an ESA Every Time for a Rural Property? 🌾🏡 | Environmental Site Assessment Explained In this short Q&A session, Raman answers a common financing question: 👉 Do lenders require an Environmental Site Assessment (ESA) every time for a rural property? Here’s what you’ll learn: 🏡 ESA Requirements Depend on the Lender — Not every transaction requires a brand-new ESA. 📅 Age of the Report Matters — Lenders may accept a recent ESA (e.g., done within 2 years), but older reports (e.g., 10 years) usually aren’t accepted. 🌿 Why It’s Important — Rural...
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Can a Mortgage Insurer Come After A Person Who Defaulted
Alberta Real Estate Tutor
Can a Mortgage Insurer Come After You if You Default? | CMHC Explained In this Q&A session, Raman clears up a big misconception about mortgage default insurance in Canada. Many people believe that once CMHC or another insurer pays the lender, the borrower is off the hook — but that’s not always true. Here’s what you’ll learn in this video: What Happens After Default: If a buyer defaults, CMHC pays the lender the loss. Recovery Rights: The insurer can still come after the borrower to recover that loss. Why Insurance Doesn’t Mean “Free Pass”: Just like...
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Mortgage Insurance in Canada - CMHC, High-Ratio Mortgages & First Time Buyers
Alberta Real Estate Tutor
Getting to the Bottom of Mortgage Insurance in Canada 🏡 | CMHC, High-Ratio Mortgages & First-Time Buyers In this Q&A session, Raman breaks down one of the most misunderstood topics in Canadian real estate — mortgage default insurance (a.k.a. CMHC insurance). Here’s what you’ll learn in this video: 🏦 When Mortgage Insurance Is Required — Anytime a buyer puts less than 20% down, lenders require default insurance. 🧾 Why It Exists — Protects lenders if the buyer defaults on their loan, ensuring they’re not left with a loss if the market drops. 👩💼 Even with 20%...
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Does Renting a Room Make Your Property a Rental Property in Alberta? 🏡
Alberta Real Estate Tutor
Does Renting a Room Make Your Property a Rental Property in Alberta? 🏡 💬 In this Q&A clip, Raman explains an important legal distinction in Alberta real estate — whether renting out a room in your home makes it a rental property. Here’s what you’ll learn in this session: 🏠 Owner-Occupied Rentals: • If you live in the property and rent out a room, it’s not typically considered a full rental property. • You remain on-site, managing and maintaining the home directly. 🏢 Non-Owner-Occupied Rentals: • If you’re renting out multiple rooms and do not live on the...
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Why We Pull the Title and Historical Title in Alberta Real Estate 🏡 | Must-Know for REALTORS®
Alberta Real Estate Tutor
Why We Pull the Title and Historical Title in Alberta Real Estate 🏡 | Must-Know for REALTORS® In this Q&A clip, Raman explains why real estate professionals in Alberta should pull both the current title and the historical title when working with a property. Here’s what you’ll learn in this session: 📄 Current Title Search — Confirms the legal owner, outstanding liens, mortgages, encumbrances, property tax issues, and other registered interests. 🏠 Historical Title Search — Reveals past issues that may no longer be listed on the current title, such as: • Previous...
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Is a Mobile Home a Condominium in Alberta 🏡 Key Differences Explained
Alberta Real Estate Tutor
Is a Mobile Home a Condominium in Alberta? 🏡 | Key Differences Explained In this short Q&A clip, Raman explains why a mobile home is not considered a condominium under Alberta real estate law — and how ownership works differently. Here’s what you’ll learn in this session: 🏠 A mobile home park is typically owned by an investor or single owner. 📍 Each site is leased to the mobile home owner — meaning they own the home but not the land. 📝 The entire park sits on one land title, unlike condominiums which are divided into multiple individually owned units. 🚚 Because...
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Condo Classifications in Alberta | Conventional, Bare-Land, Bare-Land Built-Out & Barely Blended 🏢🏡
Alberta Real Estate Tutor
Condo Classifications in Alberta | Conventional, Bare-Land, Bare-Land Built-Out & Barely Blended 🏢🏡 In this Q&A session, Raman breaks down the four main types of condo classifications in Alberta real estate and how they work in practice. Here’s what you’ll learn in this clip: 🏢 Conventional Condos — Unit boundaries defined by walls, floors, and ceilings. 🌿 Bare-Land Condos — Ownership of land parcels, often used in recreational developments. 🏡 Bare-Land Built-Out — A hybrid of land ownership and detached single-family homes with condo corporation-managed common...
info_outlineBelow are the 10 Most Concepts that can be asked as Definition Questions in your Alberta Real Estate Exam by RECA. Join us and get Exam Weightings, Quizzes, Practise Questions, and Personalized Tutoring. For all your Real Estate Questions, Alberta Real Estate School is here for you.
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