Calgary Urban Living Completes Course On Effect Of Flooding On Calgary Condos

CALGARY, Alberta - April 30, 2014 - PRLog -- The Re-Licensing Education Program, an informative course designed by the Real Estate Council of Alberta (RECA), was completed by Calgary Urban Living well before the deadline of September 30, 2014. This in-depth course covered the effects of the 2013 flooding on properties in Alberta. More specifically, the course outlined how buyers and sellers of real estate should protect themselves when dealing with flood-related properties.

The course highlighted many aspects, including of how to determine if a property is located in the flood zone area. It also discussed the due diligence activities required when dealing with a property located in the flood hazard area. These due diligence activities affect buyers, sellers, landlords, as well as tenants. The course also covered new policies that arose as a result of the 2013 Alberta floods.

In response to the 2013 flooding, a government disaster recovery program (DRP) was set up. This is a temporary program set up to provide financial assistance to individuals and organizations for uninsurable damage, loss, and other expenses.

The downtown Calgary condo market was considerably affected by the 2013 floods.  Many of the buildings were located in the floodway or flood fringe areas.  The DRP funding was used to repair and restore properties in these areas.

There are a number of due diligence activities realtor’s can provide to their clients.  These activities can vary depending on whether the client is a buyer, seller, landlord, or tenant. Based on these activities conducted by realtors, their clients can make an informed decision and provide instructions on how they would like to proceed with the transaction.

It is important to note that realtors cannot provide an opinion as to what a client should or should not do. Clients wishing to obtain this type of opinion will be advised to seek advice from the appropriate expert in the field.

Calgary Urban Living looks forward to assisting their clients who will be dealing with flood related properties. The knowledge acquired from the course, combined with the checklists they will be using, will ensure our clients best interests are represented.

For more information on the course, or if you are looking to buy or sell a Calgary condo, please contact Calgary Urban Living at info@c (mailto:khassam@cirrealty.ca)algaryurbanliving.ca or at 403-689-9594.