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How does property tax work for a new build in alberta

 
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Monty


Hello, How does property tax work for a new build in alberta? Zenon
0     In Property

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    Q. How does a mortgage work if you build a house?


    "As soon as the property is completed..."



    Inquire for a construction loan with progressive draws - meaning there is a loan approved for a specific amount but funds will be disbursed based on the progress of the construction. As soon as the property is completed, an appraisal will be done to see market value. A new loan (mortgage) is issued to pay off the construction loan and you start paying the principal and interest. Hope this helps.

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