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Residential real estate: Gadsby Lake estate listed for $15.5M

The Beverley Hillbillies didn't have it this good. The residential real estate market in Alberta just got a little richer with a $15.5 million estate in Lacombe County recently put up for sale. The Gadsby Lake estate, tucked away in the Shorthills, is one of the province's most elaborate properties.

The home has 16 bedrooms,  27 bathrooms, a shooting range, its own lake and a nine-hole golf course. It's one of Wild Rose Country's best kept secrets since it can't be seen from the road and the home sits on 300 acres of land. It belongs to a German immigrant who, in the 1970s, went searching the Canadian countryside to find property he and his family couldn't find in their homeland.

The homeowner, who is the owner of a global tech company, said he liked the fact that although the property had the feeling of being remote it was easily accessible to both Calgary and Edmonton. He started building the family home in 1981. No expense was spared in fashioning the home -- with building materials coming from Germany, Italy and India and antique fireplaces from France. A prospective purchaser can buy the property in its entirety, or part of it.

A purchase and sale of a residential real estate of this magnitude would benefit from the advice of Alberta lawyers on both sides. There are millions of dollars on the line and having the guidance of an experienced real estate lawyer would ensure that all legalities are covered in a contract. No matter what the size or price of a property, it is always best to go forward with a contractual obligation after having obtained legal counsel.

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