Information Acheteur - Courtier Immobilier Montréal Yanick E Sarrazin https://yanicksarrazin.com/en/immobilier/category/information-acheteur-en/ Plateau Mont-Royal, Outremont, Rosemont La-Petite-Patrie, Mile-End, Ville Marie Wed, 08 Jan 2025 22:45:33 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.5 https://yanicksarrazin.com/wp-content/uploads/2020/11/77174542_2673133149440852_8670214071997431808_n-60x60.png Information Acheteur - Courtier Immobilier Montréal Yanick E Sarrazin https://yanicksarrazin.com/en/immobilier/category/information-acheteur-en/ 32 32 Real Estate Trends: An Overview of the First Quarter of 2024 https://yanicksarrazin.com/en/immobilier/buyer-information/real-estate-trends-an-overview-of-the-first-quarter-of-2024/ Thu, 25 Apr 2024 14:26:19 +0000 https://yanicksarrazin.com/?p=58147 Real Estate Trends – Key Points As the city slowly emerges from winter, our real estate brokers have meticulously scrutinized the emerging trends in the Montreal real estate market during the first quarter of 2024. Here are the highlights they’ve observed. Regarding single-family homes : The single-family home market has seen a rise in prices, […]

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Real Estate Trends - Key Points

As the city slowly emerges from winter, our real estate brokers have meticulously scrutinized the emerging trends in the Montreal real estate market during the first quarter of 2024.

Here are the highlights they’ve observed.

Regarding single-family homes :

The single-family home market has seen a rise in prices, with a median price reaching $737,000, representing a 7% increase compared to the previous year. Despite this price increase, total sales have recorded a modest growth of 28%, with a total of 1023 transactions. The average selling time has remained relatively stable at 69 days, underscoring the sustained demand for this type of property.

Regarding condominiums :

Condominiums have maintained their appeal as a popular housing option, with a median price rising by 3% to reach $455,000. Total sales have recorded a significant growth of 16%, with a total of 2057 transactions in the first quarter of 2024 compared to 1777 transactions in 2023. The average selling time has remained stable at 70 days, indicating the stability and increasing popularity of this segment of the real estate market.

Regarding multi-unit properties :

Multiple-unit properties have maintained their attractiveness, with a median price increasing by 3% to now reach $778,500. Total sales have also experienced a significant increase, rising by 22% compared to 2023, with a total of 522 transactions. Additionally, the average selling time has slightly decreased to 79 days in 2024, demonstrating the continued vitality of this market segment.

In conclusion, the first quarter data of 2024 illuminates the resilience and dynamism of the Montreal real estate market. This vitality presents exciting opportunities for both buyers and sellers. If you’re ready to take the next step, our real estate brokers are here to guide you, whether you’re looking to sell or buy.

A few properties for sale in Montreal

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]]> The Promise to Purchase for an undivided co-ownership https://yanicksarrazin.com/en/immobilier/buyer-information/the-promise-to-purchase-for-an-undivided-co-ownership/ Mon, 18 Mar 2024 14:25:45 +0000 https://yanicksarrazin.com/?p=52879 The Promise to Purchase for an undivided co-ownership The Promise to Purchase an undivided property in Quebec differs significantly from that of a divided condominium. The unique nature of undivided property requires special attention when drafting the purchase agreement. Understanding the essential aspects of this transaction is crucial for both buyers and sellers involved in […]

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The Promise to Purchase for an undivided co-ownership

The Promise to Purchase an undivided property in Quebec differs significantly from that of a divided condominium. The unique nature of undivided property requires special attention when drafting the purchase agreement. Understanding the essential aspects of this transaction is crucial for both buyers and sellers involved in this type of real estate transaction. Our real estate brokers in Montreal present to you the main differences and implications to consider in this type of transaction.

Identification of the undivided share

Unlike a divided condominium where each unit is distinct, an undivided property implies that buyers hold an undivided share of the entire property. The purchase agreement must clearly specify the undivided share that the buyer is acquiring. This can be expressed as a percentage or fraction, depending on the co-ownership agreement.

Divided and undivided co-ownership, how to differentiate between them?

Description of the undivided property

La promesse d’achat doit contenir une description précise de la propriété indivise, indiquant la part spécifique que l’acheteur a l’intention d’acquérir, ainsi que l’adresse complète de la propriété. Cette description peut inclure des informations sur la superficie totale de la propriété et la localisation de la part indivise dans l’ensemble.

Rules and obligations of co-ownership

The rules and obligations governing co-ownership must be clearly defined in the purchase agreement. These rules are typically outlined in a co-ownership agreement, specifying the rights and responsibilities of each co-owner. The buyer should be informed of these provisions before committing to the transaction.

Access and Use of Common Areas

Undivided properties may have common areas, such as outdoor spaces or shared facilities. The purchase agreement must detail the buyer’s rights of access and use of common areas, taking into account their undivided share.

Specific financing conditions

The financing terms must be adjusted according to the nature of the undivided property. For properties held in undivided co-ownership, it is important to note that the mortgage must be obtained with the same bank for all co-owners. Generally, only BNC and Desjardins banks offer this type of financing for properties held in undivided co-ownership.

Pre-purchase inspection

Just like in the case of a divided condominium, the buyer has the right to conduct a pre-purchase inspection of the undivided property. This helps to identify any potential issues or defects and prevents surprises after the purchase.

Did you know that it is possible to cancel a purchase offer after the inspection?

Seller's Declarations and Obligations

The property is not subject to a preemptive right in favor of a third party, excluding other co-owners. This clause assures the buyer that the seller has not granted a preemptive right to a third party over the property, except for other co-owners.

Amount of Down Payment

The down payment must be specified in the purchase agreement and is typically 20% for an undivided co-ownership. This sum represents the buyer’s initial commitment and clarifies the financial expectations from the outset of the transaction. 

The promise to purchase for an undivided co-ownership requires particular attention to details specific to this type of property. By fully understanding the nuances of this real estate, and incorporating these elements into the purchase agreement, the involved parties can ensure a smooth transaction that complies with applicable laws and regulations. It is highly recommended to consult with a real estate legal professional to ensure that all legal and contractual aspects are properly addressed.

For more details, refer to our article on the Purchase Agreement

Explore other real estate information

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]]> Why invest in commercial real estate ? https://yanicksarrazin.com/en/immobilier/buyer-information/why-invest-in-commercial-real-estate/ Thu, 15 Feb 2024 14:52:34 +0000 https://yanicksarrazin.com/?p=52052 Why invest in commercial real estate? Investing in commercial real estate represents a prudent financial strategy, offering a multitude of attractive advantages for savvy investors. Our real estate brokers in Montreal guide you through the benefits of this real estate approach. 1. Enjoy financial security Commercial real estate lease agreements provide greater security compared to […]

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Why invest in commercial real estate?

Investing in commercial real estate represents a prudent financial strategy, offering a multitude of attractive advantages for savvy investors. Our real estate brokers in Montreal guide you through the benefits of this real estate approach.

1. Enjoy financial security

Commercial real estate lease agreements provide greater security compared to residential leases. Commercial leases are typically longer-term, offering increased financial stability. Additionally, commercial tenants often bear the responsibility for maintenance and major repairs, reducing the financial burden on property owners.

2. Benefit from potential higher returns

Commercial real estate often provides higher returns compared to residential real estate. Commercial leases can generate substantial income, and well-located properties may experience significant capital appreciation. This combination of regular income and capital growth makes it an attractive option for investors looking to maximize their profits.

3. Diversify your risks

Investing in commercial real estate offers more than just geographical diversification. Diversification opportunities extend across a variety of commercial sectors, each niche presenting its own characteristics and advantages. From innovative co-working spaces to warehouses, investors can sculpt their portfolio to withstand economic changes while capitalizing on specific market trends.

4. Benefit from tax advantages

Investments in commercial real estate often come with attractive tax benefits. Owners can benefit from tax deductions on mortgage interest, operating expenses, and maintenance costs. Additionally, long-term capital gains may be subject to preferential tax rates, providing an additional incentive.

5. Possess a better ability to adapt to economic trends

Commercial real estate has the ability to adapt to economic trends and technological advancements. For instance, the rise of online commerce has increased the demand for logistics warehouses, while changes in work patterns have stimulated the demand for flexible office spaces. By investing in properties that meet the changing needs of the market, investors can remain relevant and thrive.

In conclusion, commercial real estate emerges as fertile ground for investors seeking stability and financial growth. Long-term lease agreements, potential high returns, risk diversification, attractive tax benefits, and adaptability to economic changes make this asset class a strategic choice.

Check out our commercial real estate blog

Find our real estate brokers on Instagram

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]]> Tranquilli-T: A program offered by RE/MAX real estate brokers https://yanicksarrazin.com/en/immobilier/seller-information/real-estate-information-seller-information/tranquilli-t-a-program-offered-by-re-max-real-estate-brokers/ Thu, 25 Jan 2024 18:42:53 +0000 https://yanicksarrazin.com/?p=53208 Tranquilli-T – Key Points The Tranquilli-T Program by RE/MAX We understand that buying or selling real estate is a significant step in your life. Our real estate brokers at YE/SARRAZIN in Montreal are well aware of this and are pleased to share with you the Tranquilli-T Protection offered by RE/MAX Quebec. This program applies during […]

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Tranquilli-T - Key Points

The Tranquilli-T Program by RE/MAX

We understand that buying or selling real estate is a significant step in your life. Our real estate brokers at YE/SARRAZIN in Montreal are well aware of this and are pleased to share with you the Tranquilli-T Protection offered by RE/MAX Quebec.

This program applies during a residential transaction with a real estate broker who is enrolled in this program, aiming to protect their clients. When represented by a real estate broker from our team for your buying or selling projects, this protection is provided to you free of charge, at our expense.

The protection comes into effect when your broker provides you with the protection certificate once all conditions of your purchase offer have been met (excluding the deed of sale).

Eligibility Criteria

Firstly, to access this program, the client must be an individual or a group of individuals. It is therefore not eligible for a legal entity such as a real estate developer or a company.

The property in question must be:

  • A primary single-family residence or a building with 5 units or fewer, where the seller or buyer occupies one of the units;
  • A secondary residence or a year-round accessible and habitable cottage that is not rented;
  • The property sold or purchased does not exceed a value of 3 million dollars;
  • A permanently fixed mobile home;
  • A residence located on a plot of no more than 40 acres.

The following properties are excluded :

  • A new construction;
  • An income property (investment or 6 units and more);
  • A property under the name of an estate (unless the spouse or child resides in it)
  • A vacant property;
  • A foreclosure (for investment).

The Four Aspects of Tranquilli-T

This program covers 4 aspects determined by RE/MAX Quebec, which it is important for us to inform you about

1. Timelines and Withdrawal
2. Death
3. Legal Assistance
4. Small Claims

Timelines and Withdrawal

Whether you are the buyer or the seller of a property, certain unforeseen events can occur, such as:

  • A withdrawal of financing
  • Job loss
  • A separation
  • A fire
  • An issue with the location certificate

Unfortunately, these various events can impact the signing of the deed of sale and may sometimes lead to the termination of the transaction (purchase or sale of a property).

The Tranquilli-T program by RE/MAX comes into play when one of these situations occurs after the fulfillment of all conditions specified in your purchase offer. More specifically, verifiable, unforeseen, and reasonably incurred additional costs will be reimbursed, with only a deductible of $300 to be paid. The coverage period is 180 days following the scheduled date of the deed of sale or the policy specifications.

Learn more

Death

In the event of the death of the buyer or their spouse, if the person representing the estate does not wish to conclude the transaction, the seller will be covered by Tranquilli-T. They will benefit from the Tranquilli-T coverage, which will take on the fulfillment of the buyer’s commitments, including the sale price specified in the purchase offer that will be paid to the seller.

Learn more

Legal Assistance

The RE/MAX Tranquilli-T program allows a buyer or seller of a property access to a toll-free legal assistance telephone service for any questions related to the transaction. This service is in effect after the fulfillment of all conditions stated in the purchase offer and is valid for eighteen months following the deed of sale.

Do you have questions? Concerns? Neighborhood issues? Have you discovered a hidden defect after your purchase? You will have access to this legal assistance telephone service provided by a member of the Barreau du Québec specializing in real estate transactions

Learn more

Small Claims

With the assistance of the legal assistance telephone service, you will receive up to three hours of legal guidance for anything related to your transaction and subsequent occupancy. Disputes fall under the Small Claims Division of the Court of Quebec.

 Learn more

If you have any questions about the Tranquilli-T program, feel free to contact us by phone at 514.543.6808 or by email at info@yanicksarrazin.com. 

Contact our real estate brokers

Check out other real estate news

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]]> The conversion of a duplex or triplex (plex) into a cottage (single-family house): a project gaining popularity https://yanicksarrazin.com/en/immobilier/seller-information/the-conversion-of-a-duplex-or-triplex-plex-into-a-cottage-single-family-house-a-project-gaining-popularitye/ Thu, 25 Jan 2024 15:07:48 +0000 https://yanicksarrazin.com/?p=53168 Converting a plex into a single-family house – Neighborhoods in Montreal A unique real estate project One of the real estate assets that particularly catches the eye of Montreal residents is that of single-family houses. The only issue is that in certain neighborhoods like Le Plateau Mont-Royal or Rosemont-La-Petite-Patrie, single-family houses are scarce and subject […]

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Converting a plex into a single-family house - Neighborhoods in Montreal

A unique real estate project

One of the real estate assets that particularly catches the eye of Montreal residents is that of single-family houses. The only issue is that in certain neighborhoods like Le Plateau Mont-Royal or Rosemont-La-Petite-Patrie, single-family houses are scarce and subject to fierce competition. Quickly listed on the market, they are swiftly sold, often in bidding wars. Since vacant lots for construction are very rare to find, the conversion of a duplex or triplex into a cottage is a project gaining popularity among families aiming to create a unique product that reflects their needs.

However, over the past year, several boroughs have adopted new regulations to address the shortage of rental housing in the metropolis. The regulations vary significantly from one neighborhood to another, and our real estate brokers have decided to shed light on the subject. Here are the new regulations regarding the conversion of triplex or duplex into single-family homes in each of the boroughs of the city of Montreal.*

Cottage moderne au Plateau Mont-Royal à Montréal

The Plateau-Mont-Royal

The Plateau-Mont-Royal now prohibits the change of use of a dwelling or the merging of two units in a duplex or triplex, as part of new measures aimed at protecting its rental housing stock. A public consultation is scheduled for April 9, 2024, to present these regulatory changes.

For more information, click here.

Duplex à Rosemont-La Petite-PAtrie à Montréal

Rosemont-La Petite-Patrie

The borough of Rosemont-La Petite-Patrie has restricted the conversion of triplexes into single-family residences but does allow the conversion of duplexes with the acquisition of a transformation permit.

The ubiquitous bungalow-style houses in the neighborhood have opportunities for expansion. For more information, we recommend reading our article on expansions in shoebox houses.

Duplex à Villeray à Montréal

Villeray-Saint-Michel-Parc-Extension

In the borough of Villeray, for buildings with up to six apartments, it is possible to merge two of them if the total area does not exceed 200 square meters. The area of a basement is excluded from this calculation. Therefore, the conversion of a duplex in Villeray could be accepted with the acquisition of a transformation permit. Following the previous guideline, it is no longer possible for owners of triplexes to convert their units into single-family houses. This prohibition also applies to the conversion of rooming houses.

Maison unifamiliale à Ville-Marie à Montréal

Ville-Marie

The borough of Ville-Marie indicates that the transformation of a building containing a residence, with the aim of reducing or increasing the number of units, requires obtaining a permit and approval for the work.

Le Sud-Ouest

The borough of Sud-Ouest indicates that the transformation of a duplex or triplex requires a transformation permit. This implies that it is possible to proceed with your conversion project as long as it does not affect the minimum number of units per building in the area. Therefore, you need to apply for a permit and hope for approval.

Mercier-Hochelaga-Maisonneuve

The borough of Mercier-Hochelaga-Maisonneuve states that the transformation of duplexes and triplexes into single-family homes is always possible with the acquisition of a transformation permit.

Outremont

The borough of Outremont, on the other hand, states that the transformation of a duplex or triplex requires a transformation permit. Therefore, it is possible to proceed with your conversion project once you have applied for a permit and have been approved by the borough’s permits and inspection division.

Côte-des-Neiges-Notre-Dame-de-Grâce

The borough of Côte-des-Neiges-Notre-Dame-de-Grâce allows the reduction of triplexes to duplexes, as well as the conversion of duplexes to single-family homes. These conversions are permitted by right, regardless of sector limits related to the number of units.

*Please note that regulations may change. Therefore, we encourage you to inquire with the borough for the most up-to-date information.

Facade d'un cottage du Plateau Mont-Royal

Recommendation from our real estate brokers

In all cases, our real estate brokers strongly recommends ensuring that you obtain various construction permits, such as demolition permits, transformation or construction permits, excavation permits, or others, as needed. Additionally, it is advised to contact the Urban Planning and Business Services Division of the borough to have the work approved by the municipal authorities.

Additional questions?

For any questions, you can always refer to the City of Montreal’s website or directly contact the boroughs, as it is the responsibility of the borough to determine whether the loss of housing resulting from this conversion will not contribute to falling below the minimum required quantity of housing in the neighborhood. However, your real estate broker remains the best person to assist you with all your projects and guide you in finding the ideal income property for your conversion.

Feel free to contact us; our team has experienced real estate brokers in this type of purchase in various neighborhoods of Montreal, and we will be happy to guide you through all the steps of this complex process.

Phone: 514.799.9841
Courriel: info@yanicksarrazin.com

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]]> 7 perks of living in Ahunstic https://yanicksarrazin.com/en/immobilier/information-acheteur-en/7-perks-of-living-in-ahunstic/ Thu, 18 Jan 2024 18:53:18 +0000 https://yanicksarrazin.com/?p=51271 7 perks of living in Ahunstic-Cartierville Nestled to the north of the island of Montreal, Ahuntsic-Cartierville is a dynamic borough that harmoniously blends history and modernity, offering an exceptional quality of life to its residents. With its green parks, lively streets, vibrant cultural scene, and ethnic diversity, Ahuntsic-Cartierville is a place where heritage, friendliness, and […]

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7 perks of living in Ahunstic-Cartierville

Nestled to the north of the island of Montreal, Ahuntsic-Cartierville is a dynamic borough that harmoniously blends history and modernity, offering an exceptional quality of life to its residents. With its green parks, lively streets, vibrant cultural scene, and ethnic diversity, Ahuntsic-Cartierville is a place where heritage, friendliness, and a variety of unique experiences come together.

Our team of real estate brokers in Montreal shares with you the 7 main advantages of living in the family-friendly neighborhood of Ahuntsic-Cartierville.

1. Reside in a neighborhood with a unique architectural charm

Ahuntsic-Cartierville has a rich history dating back to the French colonization in the 17th century. This lengthy history is reflected in the neighborhood’s architecture, with buildings dating from different eras, spanning from New France to the Victorian era and through the industrial age.

The area showcases an interesting blend of architectural styles. You’ll find French colonial-style houses with Mansard roofs, Victorian homes adorned with elaborate architectural details, red-brick industrial buildings, and even modernist and contemporary houses. This diversity of styles makes the neighborhood visually stimulating.

YE/SARRAZIN – Découvrez Ahunstic avec nos courtiers immobiliers de quartier

2. Have access to a diversity of properties

The neighborhood offers a wide variety of housing types, allowing residents to choose based on their needs and preferences. You can opt for a condominium apartment, a detached house, a duplex, a triplex, or even a unit in a multi-unit building. However, the area is renowned for its heritage homes with spacious yards: the ideal space for a family.

Check out our article on the difference between divided and undivided co-ownership here.

3. Be in proximity to schools

Ahuntsic-Cartierville is home to a large number of primary and secondary schools, both public and private. Families have a wide range of educational options for their children, whether they prefer French or English-language schools. Among the diversity of primary schools, you’ll find Ahuntsic Elementary School and Louis-Colin School. In the secondary level, Collège Mont-Saint-Louis, Collège Régina Assumpta, and Sophie-Barat School are among the most reputable. At the college level, Cégep Bois-de-Boulogne and Collège André-Grasset are among the top-rated CEGEPs in Montreal.

Source : Facebook – Collège Régine Assumpta – Page officielle

4. Be in proximity to health services

Ahuntsic-Cartierville offers a comprehensive range of health services to meet the needs of its residents. Fleury Hospital is the largest healthcare facility in the neighborhood, providing a range of high-quality medical services. Ahuntsic-Cartierville also has numerous medical clinics, specialized clinics, health centers, and family doctor offices. This diversity of health services contributes to the residents’ quality of life by ensuring access to essential healthcare near their homes.

5. Benefit from a cultural and community life

The borough organizes and hosts a multitude of cultural events throughout the year. From music festivals to art exhibitions and theatrical performances, there is always something to see and do. The Maison de la culture d’Ahuntsic-Cartierville is the venue for various festivals such as the Trad Festival, a festival of traditional Quebecois music.

Ahuntsic-Cartierville is home to cultural institutions such as theaters, art galleries, and cultural centers that offer exhibitions, performances, artistic workshops, and lectures. The Maison de la culture Ahuntsic-Cartierville hosts musicians with diverse styles and serves nearly 40,000 people annually with its extensive musical programming.

The borough’s libraries serve as knowledge centers and gathering places, offering activities for all ages, from book clubs to storytelling sessions for children. Among the libraries are the Ahuntsic Library, the Cartierville Library, and the Salaberry Library.

Residents are encouraged to get involved in their community through neighborhood councils, volunteer groups, and community organizations. This fosters a sense of belonging and strengthens bonds among residents.

6. Enjoy a variety of restaurants and local shops

Ahuntsic-Cartierville offers a variety of restaurants and local shops due to its cultural diversity and dynamic population. Promenade Fleury is the main commercial artery of the neighborhood, boasting over 250 businesses. This street features a range of shops, from clothing boutiques to specialty grocery stores, independent bookshops, home decor stores, diverse restaurants, and cafes. Promenade Fleury is also known for its friendly atmosphere. Residents and visitors alike appreciate the warm vibe that permeates this area. It’s a place where one can enjoy a leisurely stroll, chat with local merchants, and discover hidden gems.

7. Enjoy a peaceful and green environment

With its two million square meters of parks, Ahuntsic-Cartierville is one of Montreal’s boroughs with the most green space. Among its parks with the largest surface area are Ahuntsic Park, Sainte-Odile Park, Marcelin-Wilson Park, and the Île-de-la-Visitation Nature Park.

Ahuntsic Park is an iconic park in the neighborhood, offering vast green spaces, picnic areas, a lake, and walking trails. The park also hosts numerous community and cultural events throughout the year, including festivals and outdoor concerts.

Sainte-Odile Park features wooded trails, playgrounds, picnic tables, and soccer fields. This park is a popular spot for outdoor activities, family walks, and relaxation in the midst of nature.

Marcelin-Wilson Park, named in honor of the famous artist and sculptor Marcelin-Wilson, is a unique artistic and recreational space in the neighborhood. It features public art installations, creative playgrounds for children, and an outdoor amphitheater for performances and cultural events.

Although the Île-de-la-Visitation Nature Park is not strictly located in Ahuntsic-Cartierville, it is nearby and worth a visit. This park offers a preserved nature experience with hiking trails, picnic areas, rapids on the Rivière des Prairies, and a historic mill. It’s ideal for hiking, biking, bird-watching, and outdoor activities.

ahuntsic-cartierville- real estate brokers montreal

Rediscover Ahuntsic with your neighborhood real estate agents
Information Acheteur

7 perks of living in Ahunstic

7 perks of living in Ahunstic-Cartierville Nestled to the north of the island of Montreal, Ahuntsic-Cartierville is a dynamic borough that harmoniously blends history and

Lire la suite »
18 January 2024

A few properties for sale in
Ahunstic-Cartierville

7
Montréal, Apartment
9730, Av. De Lorimier, Ahuntsic-Cartierville (Montréal)
2
1
1012sq/ft

1 750$/month

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]]> The Promise to Purchase for a divided co-ownership https://yanicksarrazin.com/en/immobilier/buyer-information/the-promise-to-purchase-for-a-divided-co-ownership/ Mon, 15 Jan 2024 20:28:45 +0000 https://yanicksarrazin.com/?p=52846 The Promise to Purchase for a divided co-ownership The Promise to Purchase for a divided co-ownership in Quebec is a crucial step in the real estate acquisition process. It has specific peculiarities due to the unique nature of divided co-ownership properties. Understanding the essential aspects of this transaction is crucial for both buyers and sellers […]

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The Promise to Purchase for a divided co-ownership

The Promise to Purchase for a divided co-ownership in Quebec is a crucial step in the real estate acquisition process. It has specific peculiarities due to the unique nature of divided co-ownership properties. Understanding the essential aspects of this transaction is crucial for both buyers and sellers involved in this type of real estate transaction.

Precise identification of the unit

In drafting the Promise to Purchase, it is imperative to precisely identify the targeted condominium unit. Each unit in a divided co-ownership is distinct, with its own lot number. The buyer must ensure that the unit specified in the Promise to Purchase aligns with their expectations and needs.

Divided and undivided co-ownership, how to differentiate between them?

Description of common areas

The Purchase Agreement must also include a detailed description of the common areas of the condominium. Common areas are spaces and facilities shared by all co-owners. It is essential for the buyer to fully understand their share in these common areas, as it will impact their rights and obligations within the condominium.

Conditions of financing

The financing terms are a crucial aspect of any Purchase Agreement. The buyer must specify the conditions related to obtaining a mortgage, taking into account the specifics of the divided co-ownership purchase. Lenders may have particular requirements for this type of property, and it is essential to anticipate them.

Verification of co-ownership documents

Before signing the Purchase Agreement, it is advisable to review the condominium documents, including the declaration of co-ownership and the building regulations. These documents outline the rules and regulations governing condominium living. The buyer must ensure they understand these rules and accept them before completing the transaction.

Pre-purchase inspection

The buyer has the right to conduct a pre-purchase inspection of the condominium unit. This step is crucial for identifying potential structural issues or defects. The Purchase Agreement should include provisions regarding a thorough inspection, enabling the buyer to make informed decisions.

Did you know that it is possible to cancel a purchase offer after the inspection?

The Purchase Agreement for a divided co-ownership requires special attention to details specific to this type of property. By fully understanding the intricacies of this real estate asset and incorporating these elements into the purchase agreement, the involved parties can ensure a smooth transaction that complies with applicable laws and regulations. It is highly recommended to consult with a real estate legal professional to ensure that all legal and contractual aspects are appropriately addressed.

For more details, refer to our article on the Purchase Agreement

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]]> 7 perks of living in Outremont https://yanicksarrazin.com/en/immobilier/information-acheteur-en/7-avantages-de-vivre-dans-outremont/ Thu, 28 Dec 2023 15:50:29 +0000 https://yanicksarrazin.com/?p=51242 7 avantages de vivre dans Outremont Outremont is a neighborhood located in the central-west part of Montreal. With its rich architectural heritage, green parks, vibrant cultural life, and friendly atmosphere, Outremont is a true gem that attracts residents and visitors in search of an exceptional quality of life. Our real estate brokers in Montreal share […]

L’article 7 perks of living in Outremont est apparu en premier sur Courtier Immobilier Montréal Yanick E Sarrazin.

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7 avantages de vivre dans Outremont

Outremont is a neighborhood located in the central-west part of Montreal. With its rich architectural heritage, green parks, vibrant cultural life, and friendly atmosphere, Outremont is a true gem that attracts residents and visitors in search of an exceptional quality of life. Our real estate brokers in Montreal share with you the 7 main advantages of living in the peaceful neighborhood of Outremont.

1. Reside in a neighborhood with unique architectural charm

Outremont is renowned for its picturesque architecture, featuring beautiful Victorian houses, tree-lined streets, and green spaces. The Victorian houses, mainly constructed in the 19th century, embody the elegance and sophistication of that era. These Victorian homes remain highly sought after today, both by local residents and architecture enthusiasts. Many of them have been lovingly restored, preserving the history and heritage of Outremont. Residents appreciate the historical character of the neighborhood, adding a touch of charm and beauty to their everyday surroundings

La Presse – Le tour du propriétaire : reine victorienne

2. Live in a safe, family-friendly neighborhood

The neighborhood is home to many families who choose to settle there for its proximity to schools, as well as its safety. Indeed, safety is one of the main characteristics of Outremont. Residents appreciate strolling on foot or by bike through the neighborhood with a sense of tranquility. Local authorities ensure the maintenance of a safe environment and provide adequate security and surveillance services.

3. Be in proximity to schools

The neighborhood also houses excellent public and private schools, as well as daycare facilities, allowing families to have access to quality education for their children close to home. Among the renowned schools in the area is École Lajoie, a public elementary school offering enriching learning experiences. Collège Stanislas, a co-educational private school, provides high-level education from kindergarten to secondary. The institution is known for its academic excellence, rigorous pedagogical approach, and commitment to language and arts education.

4. Benefit from a well-served neighborhood by public transportation

By metro, Outremont is served by the Montreal Metro’s Blue Line, with two nearby stations: Outremont station and Acadie station. These stations provide quick and easy access to downtown Montreal and other significant neighborhoods in the city. By bus, it is also convenient to travel with several bus lines connecting to other areas of the city. Outremont is well-equipped for cyclists as well. It is connected to a network of bike paths that allow safe cycling and the opportunity to enjoy the charms of the neighborhood while staying active.

5. Be at the heart of cultural and artistic life

Outremont offers a rich cultural and artistic life, housing theaters, art galleries, concert halls, and libraries, making it a dynamic and lively neighborhood for culture enthusiasts. The Théâtre Outremont is a historical gem in the area. Inaugurated in 1929, Théâtre Outremont is a renowned performance venue, offering an eclectic and high-quality program throughout the year. It hosts theatrical performances, classical music concerts, jazz and world music events, contemporary dance shows, and many other captivating artistic performances.

The neighborhood also boasts several art galleries showcasing the talent of local and international artists. These galleries regularly organize exhibitions of contemporary art, photography, sculpture, and painting, providing residents with a unique opportunity to discover and appreciate different forms of artistic expression.

Outremont’s municipal library, the Robert-Bourassa Library, is a cultural hub in the neighborhood. In addition to its extensive book catalog, this library offers literary activities, conferences, author meetings, and workshops for both children and adults, contributing to the promotion of reading and access to culture.

6. Enjoy a variety of restaurants and local shops

Outremont offers a selection of local shops, trendy cafes, restaurants, and bakeries. The main commercial arteries of the neighborhood are Avenue Van Horne and Avenue Bernard. The latter is lined with a variety of independent boutiques, international restaurants, charming cafes, and specialty stores. It exudes a warm and authentic atmosphere, far from major commercial chains. Residents enjoy strolling, shopping, savoring a good meal, or gathering for coffee in this welcoming environment.

7. Enjoy numerous green spaces

The neighborhood is teeming with parks and green spaces, providing ideal spots for picnics, outdoor cultural events, and family gatherings. Among the most popular parks in the area are Pratt Park, Beaubien Park, Joyce Park, and Saint-Viateur Park. With tennis courts and running tracks, Pratt Park is well-loved for sports and outdoor activities. Beaubien Park, with its well-maintained gardens and winding trails, also features a playground for children, making it a perfect spot for entertainment. Joyce Park, on the other hand, is a peaceful green space with a large lawn, majestic trees, and walking paths—a nature getaway in the heart of the city. Lastly, Saint-Viateur Park offers recreational facilities for all ages, including basketball courts, playgrounds, ping-pong tables, and an area dedicated to giant board games. It’s a friendly space for families and friends looking to spend time together outdoors.

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7 perks of living in Outremont

7 avantages de vivre dans Outremont Outremont is a neighborhood located in the central-west part of Montreal. With its rich architectural heritage, green parks, vibrant

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28 December 2023

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L’article 7 perks of living in Outremont est apparu en premier sur Courtier Immobilier Montréal Yanick E Sarrazin.

]]> 5 strategic tips for first-time buyers https://yanicksarrazin.com/en/immobilier/information-acheteur-en/5-strategic-tips-for-first-time-buyers/ Thu, 19 Aug 2021 15:14:29 +0000 https://yanicksarrazin.com/?p=18922 5 strategic tips for first-time buyers – Key Information The purchase of one’s first property is an important event in the course of a lifetime. It is a great investment. However, it can be complex for a first buyer to know the different specificities about this real estate transaction. Indeed, the future buyer must be […]

L’article 5 strategic tips for first-time buyers est apparu en premier sur Courtier Immobilier Montréal Yanick E Sarrazin.

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5 strategic tips for first-time buyers - Key Information

The purchase of one’s first property is an important event in the course of a lifetime. It is a great investment. However, it can be complex for a first buyer to know the different specificities about this real estate transaction. Indeed, the future buyer must be well prepared in the process, both before and during the purchase. Here are some strategic tips that will help you point in the right direction.

Strategic Tips

1. Be accompanied by a real estate broker from the sought-after sector

Location is important for determining the value of a property. A real estate broker in the area you are looking for knows the market in question well. Indeed, he has the knowledge of the specificities of the properties of the desired sector and will be able to confirm if the sector in question corresponds to your needs. He will then be able to find a property respecting your budget and the current market. It is advisable to collaborate with a broker with whom you will feel good and who will offer you real personalized support during this great process.

2. Be informed

As mentioned, buying a property is a very important investment in a lifetime. It is therefore necessary to know and understand the documents required during the real estate transaction. For example, this might be to understand what the Seller’s Declaration (DV) is all about or what is in a promise to purchase.

3. Prepare your questions

After reading these different mandatory documents, do not be shy to ask questions to your real estate broker. These various documents are complex and have many specificities. Explanations and clarifications may then be required. Your real estate broker is here to help you and will be able to answer your questions as quickly as possible.

4. Be prepared to submit your offer to purchase

4.1 Mortgage pre-approval

When buying a property, organization is a key component in order to distinguish itself from competing market offers. Mortgage pre-approval is an effective tactic to show your seriousness as a buyer. This pre-approved mortgage application is to be linked to the promise to purchase.

4.2 Cover letter

On the more sentimental side, it is recommended to write a cover letter and attach it to the promise to purchase. In this letter you can describe your family portrait, the reasons that made you want to acquire the property and the emotions felt when visiting. This human aspect could then touch the seller and weigh the balance in your favor.

5. Be patient

With increased competition from buyers in the market, patience is required in order to find the desired property. You must keep hope and rely on your real estate broker to review or modify your strategy, if it does not prove effective.

By following these few tips and working on your patience (aoum), you could distinguish yourself from the competition and acquire the dream property. And now… breathe!

In short, the 5 main tips for first buyers are to be accompanied by a real estate broker specialized in the desired sector, to learn about the documents required when buying the property and to prepare questions to ask to your real estate broker. Being organized is also essential. Linking the mortgage pre-approval and a cover letter to the promise to purchase could be beneficial for the acquisition of the desired property. Finally, patience would be the ultimate advice: good things come to those who wait.

Contact one of our real estate brokers for your first purchase

L’article 5 strategic tips for first-time buyers est apparu en premier sur Courtier Immobilier Montréal Yanick E Sarrazin.

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