Determine your individual needs
The reasons for buying property vary widely from one person to another. It is therefore extremely important to discuss your individual needs with me. Before making an appointment, draw up a list of the factors important to you and determine your needs such as locality, price range, type of property, number of units, public utilities, and so on.
Check with your financial institution to find out how much you can afford to carry as a mortgage and have the loan amount preauthorized. When will come the time to look for the best mortgage opportunity, I will be really there for you with my great quality contact.
Talk to me,
Once you have analysed your individual needs, talk to your neighbourhood broker. If you prefer to buy out far from my working sector, I will be able to refer you to a professional broker in the area of interest to you.
You’ve found your property?
Remember to notify current service providers prior before your acquisition and to take action as required when settling into your new location.
Expenses to allow for when signing before notary
- Notary fees;
- Tax redistribution and refunds: Refunds are calculated from the date of the signing of the deed of sale. You are responsible for reimbursing the seller for the number of days paid to date: Municipal taxes and school taxes;
- Heating oil tank : The seller is required to have the tank filled on the day of the signing of the deed of sale and submit the invoice to the notary for reimbursement in full by the buyer;
- Electricity meter (Hydro Québec): The buyer and the seller must notify Hydro Québec of the date the property is scheduled to change hands, have the meter read, and ensure that all amounts owing are properly allocated;
- Insurance : Upon signing of the deed of sale, you must present proof that you have contracted insurance in an amount equal to or greater than the mortgage on the property.
Expenses to allow for after having signed the deed of sale
- Land transfer or welcome tax: The municipality in which you settle will bill you within two (2) to four (4) months of the signing of the deed of sale in an amount based upon the selling price and scaled as follows:
- 0.50 % of amounts up to $50,000
- 1.00 % of amounts between $50,000 and $250,000
- 1.50 % of amounts between $250,000 and 500 000$
- 2% of amounts exceedings 500 000$
- Some renovations or improvements.