Purchasing a real state Law Case Study Research Paper

Purchasing a Real Estate Property in Canada
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Purchasing a Real Estate Property in Canada
This paper presents considerations for the purchase and subsequent designing of new operations for an industrial property listed for sale in Canada. The selected property comprises 2.2 acres of land with two shops under the freehold ownership type. It is located within the city limits of Estevan, Saskatchewan, and easily accessible since the property is located along the busy street of Escana with its characteristic highway exposure. The two shops (a smaller one and a bigger one) both function as warehouses with the smaller one built in 1947, with a 12 X 16 overhead door and overhead heat. On the other hand, the bigger shop was built in 1987 and is fitted with a 30-foot ceiling height as well as a 24 X 30 overhead door to allow for tank repairs. In total, the shops have a floor space of 1100 square feet, and the whole property is valued at $410,000. The link to the property is /real-estate/22218285/49-escana-st-estevan#view=neighbourhood
Preparatory Steps for Purchasing Transactions
Identification of Location and Demographic Attributes
As already mentioned, the property is found within the city of Estevan, Saskatchewan, and is close to the busy street of Escana, which connects to freeways. Moreover, there is ample parking space both within the property (provided by its partially fenced gravel yard) and within the neighborhood. The property is also relatively quiet, with few sources of noise mainly by moving vehicles along nearby road networks. Restaurants located within walking distance from the property include Tim Hortons, Jenny K, Smitty’s, Dee Jay’s Administrative Office, and Western Pizza. Further, there is also a grocery store located within walking distance for the property. It is also essential to include demographic information about the area where the property is found to aid in the preparatory steps to carry out the purchasing transactions.
The demographic information is based on the dissemination area around the property, as defined by Statistics Canada. Accordingly, data for the small neighborhood shows that the population size is 420 people and is expected to grow to 456 people by 2023. There are 183 households, of which 52 have children while 48 don’t have any children. Most families are in the growing life stage, with an average of 1 child, and the mean household size is 2.3. Only a small proportion of people have a university degree (3.4%), while the majority have attained the Apprenticeship, Trade Cert, or Diploma level of education (29.7%). A considerable proportion of the population (26.9%) have a Non-university Certificate or Diploma and a University Certificate or Diploma below a Bachelor’s Degree. 20.9% of the people have no certificate, Diploma, or Degree, and 19.1% reached the level of High School in their education. Consequently, most of the people in the neighborhood of the property are employed in the service or blue-collar sector, and the average household income is estimated at $133,234.
Based on the location and demographic information about the area, it is evident that the property’s environment is f...