Courtier Immobilier Montréal Yanick E Sarrazin

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Concours Printanier | YE/SARRAZIN

Concours YE SARRAZIN

Un concours pour souligner l'arrivée du printemps

Avec l’annonce du printemps, nos courtiers immobiliers à Montréal ont eu envie de vous offrir la chance de remporter une carte-cadeau de 100 $ de chez Alma Plantes, ainsi que plusieurs petits prix connexes.

Ce concours a lieu sur la page Instagram YE/SARRAZIN.

Afin de remporter les prix suivants :

• Une carte cadeau de 100$ de la boutique Alma Plantes & Bar à Plantes

• Un cache pot en terre cuite

• Une jardinière ajustable

• Une plante Peperomia

• Un bouquet de fleurs séchées

 

Les règles sont les suivantes :

• S’abonner aux comptes Instagram de @yesarrazin et de @almaplantes.

• Aimer la publication et identifier en commentaires 2 amis qui voudraient également gagner ce prix. 

• Enregistrer la publication.

• Partager la publication en “story” et mentionner @yesarrazin pour augmenter vos chances de gagner.

Durée du concours et annonce du gagnant

Le Concours aura lieu du mardi 15 mars 2022 au mardi 21 mars 2022 23h59. Le ou la gagnant(e) sera annoncé(e) le mardi 22 mars 2022 à midi en story sur la page Instagram de YE/SARRAZIN (@yesarrazin) et contacté par message privé sur Instagram.

Si le(a) participant(e) ne se manifeste pas dans les 7 jours suivant l’envoi de ce message privé sur Instagram, il/elle sera considéré(e) comme ayant renoncé à son lot et celui-ci restera la propriété de l’organisateur. Un second tirage au sort sera alors effectué parmi tous les autres participants.

En acceptant son prix, le(a) gagnant(e) accepte que les organisateurs du concours utilisent son nom et/ou pseudonyme Instagram dans une publication promotionnelle sur la page Facebook et Instagram de YE/SARRAZIN- Courtiers immobiliers à Montréal.

Informations supplémentaires

Le Concours est organisé par Yanick E. Sarrazin Inc., agence immobilière, œuvrant sous la bannière RE/MAX du Cartier à Montréal, 835 Boulevard Saint-Joseph Est, Montréal (QC), H2J 1K5.

Le Concours a été enregistré légalement auprès de la Régie des alcools, des courses et des jeux du Québec. Un différend quant à l’organisation ou à la conduite du concours publicitaire peut être soumis à la Régie des alcools, des courses et des jeux afin qu’il soit tranché. Un différend quant à l’attribution d’un prix peut être soumis à la Régie uniquement aux fins d’une intervention pour tenter de le régler.

Le/la gagnant(e) sera responsable de venir chercher son prix à l’adresse suivante* :

3997 Rue Saint-Denis, Montréal, QC, H2W 2M4

*Pour les adresses situées à l’extérieur de Montréal et ses environs, le prix sera envoyé par la poste.

Participez au Concours Printanier sur notre page Instagram

@yesarrazin

5 tips for the sale of your property - Key informations

The sale of a condo, house or plex is an important step for anyone and requires preparation. Indeed, a property must be well prepared for sale in order to arouse any interest: the first impression counts. After all, buying a property often goes through a lightning bolt or falling in love with different characteristics of the latter.

With the arrival of Valentine’s Day and the current real estate bustle, our team got together and spoke with the Metro Journal to establish 6 practical tips essential to seduce potential buyers. These tips have the specific purpose of achieving the desired effect, namely the sale of the property. To discover these 6 tips, consult the Petit Guide de Séduction immobilière.

In order to further entice potential buyers when visiting your property, we have established 5 additional tips. Here is their overview:

Practical tips for the sale of your property

1. Clean up the property

Cleanliness is an important determinant in the success of selling your property. A clean property is more attractive. Every room should be carefully cleaned. You have to be sure to empty the garbage cans, clean the floors, make the beds and dust the furniture. Closets are not to be neglected either, as potential buyers could be curious and open them during visits.

In a property, the kitchen and bathroom are rooms where extra attention should be paid. These pieces are naturally more ‘combed’ because of their utilitarian character and must then be immaculately clean.

Cuisine lumineuse et moderne Montréal

2. Depersonalize spaces

To seduce a buyer is also to make sure that he/she can imagine living in said property. Depersonalization is essential and refers to removing elements that may harm the sense of belonging of the potential buyer. For example, remove family photos or travel souvenir frames from walls. Your clothes or shoes should not be lying around the property either. It is then important to create a neutral environment where the buyer will be comfortable and ‘feel at home’.

Salon lumineux à Montréal

3. Focus on home staging

Home staging is a method to improve the ergonomics and aesthetics of a room. This technique includes moving furniture, adding decorative elements to the room or rearranging the entire space to make it more welcoming. Your real estate broker has the knowledge in this area and can help you to carry out an efficient and attractive home staging for the buyer. Don’t hesitate to ask your real estate broker for advice!

4. Offer a haven of serenity

The seduction of a buyer also depends on the calm he can experience during his/her visit. Make sure the windows are properly closed, the radio is turned off and your neighbors are not undergoing major renovations. A calm environment inspires trust and is then much more seller for a buyer.

5. Have your pets looked after

Pets are very cute, but they can sometimes create unfortunate situations. For example, during visits, a potential buyer may be uncomfortable with the presence of an animal or even allergic. Whenever possible, keep your pet with a loved one or bring it with you during visits to avoid unpleasant situations.

With these 5 handy tips for selling your property, the seduction of your buyers is almost guaranteed. It is now the turn of the expertise of your real estate broker to ensure his/her love at first sight!

Our team has established 5 practical tips to seduce potential buyers during the sale of his property: do the big cleaning, depersonalize the spaces, bet on elements of home staging, provide a tranquil environment and if you have pets, if possible, have them kept. For tips inspired by Valentine’s Day, we invite you to read our article published in the Metro Journal!

Contact one of our real estate brokers to assist you in the sale of your property

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At Piko Microsaucerie - Key informations

Piko Microsaucerie 🌶

Microsaucerie, is that a term that rings a bell? If not, we are about to introduce you to a unique place where flavours, discoveries and spices are in the spotlight. Chez Piko Microsaucerie is located on Duluth Street, a few steps from our offices. The business, which has been open for almost a year now, is the brainchild of its owners JP and Val, both of whom are passionate about the complex, yet balanced flavors that spicy foods and especially hot sauces have to offer!

les propriétaires chez PIKO

Purely Québécois creations

Made in the Mile-End, their artisanal creations allow curious palates to discover the various subtleties and the surprising world of hot peppers thanks to their numerous sauces, each one more original than the next. The Golden Ninja with its exotic pineapple flavour, the Habs X-tra spicy or the Tipico Chipote, the 100% vegan hot sauces from the Quebec company will impress you with their unique flavours.

Approved by the YE/Sarrazin team

A lover of world cuisine and spicy food, our marketing director, Veronica, was really pleased to discover this small business with a cool and original branding. Soup, pizza, simmered dishes, Veronica loves to spice up her daily meals with a few drops of Piko sauce! In fact, she stocked up on her favorites to introduce our team of real estate brokers to the tasty Piko recipes.  Her recommendation: the extra spicy Wicked Smart Calypso !

Veronica chez PIKO

In fact, it is Piko, the owners’ cat, who is the effigy of the brand! As adorable in person as in image, Piko is described by Val and JP as their main accomplice and, let’s face it, a perfect mascot!

Having started their own hydroponic cultivation of peppers, the owners are busy combining flavors and making unique recipes to share their passion with the Plateau Mont-Royal community!

A great address to discover to spice up your daily life!

The Microsaucerie chez Piko is located at 367 Duluth E, Montreal.

Any questions ? Contact us !

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Why buy with a real estate broker - Key information

Why deal with a broker for a real estate purchase

The purchase of a property is without a doubt a very important step in the life of many people. Visits, offers, counter-offers, negotiations, legal paperwork, etc., the purchase of a house is a complex process that requires a lot of time, research and energy.

Indeed, finding the property that will make your heart beat faster while meeting the criteria, desires and needs you have set for yourself can be a considerable task. Working with an experienced real estate broker who is an expert in the areas you are considering for the purchase of your property can be a smart move that will not only reduce your mental load, but also put part of your real estate project in the hands of a seasoned expert and enthusiast.

A well regulated profession

It should also be noted that real estate brokers in Québec hold an official permit issued by the Organisme d’autoréglementation du courtage immobilier du Québec (OACIQ), which provides them with guaranteed expertise, in addition to requiring them to abide by strict rules governing their profession and protecting you as a consumer.

Project of law 5

Finally, with Bill 5, amending the Real Estate Brokerage Act, a broker can no longer represent both the seller and the buyer. This double representation could indeed lead to certain problems, notably major conflicts of interest. With the amendment of this law, the buyer benefits from greater protection and guaranteed loyalty on the part of his broker as well as a better defence of his own interests.

But in concrete terms, why do business with a real estate broker for a purchase?

1.   As an expert in the real estate market, working with a real estate broker will allow you to buy the property you are looking for at a fair price, according to the state of the market, thanks to the comparative analysis of the property carried out beforehand by the broker.

2.  A real estate broker working with a team of industry experts will also be able to assist and guide you in completing the various legal documents required to purchase (and sell) a property, including the Promise to Purchase, the Seller’s Declaration and the Notarial Act.

3.  In the same vein, your real estate broker will be able to accompany you and advise you with the professionals you will meet along the way, notably the mortgage broker, the inspector and the notary, in addition to having a negotiating strength that will set you apart from other potential buyers.

4.  Your real estate broker’s references and contacts, regarding the professionals mentioned above, could also be useful to you. Indeed, depending on the sector you are looking for, your broker will be able to recommend experts whose specific knowledge will make the difference (especially regarding the inspection of the property) in the buying process.

Finally, doing business with a real estate broker is free for the seller since the fees paid for his services are assumed by the seller of the residence the buyer is purchasing (to pay for the services of the listing broker and the collaborating broker. The amount of the commission is included in the Promise to Purchase, which is signed by both parties to the transaction).

Are you looking for your dream property? You wish to sell your home to start a new chapter in your life? Do not hesitate to contact one of our real estate brokers, it will be our pleasure to accompany you and guide you through the different steps of your process!

Meet our Montreal real estate brokers

Any questions? Contact us !

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1474, Laurier East - Key informations

The Petit Laurier

It is in the heart of the vibrant Petit Laurier, a sub-sector of the Plateau Mont-Royal with a unique atmosphere in Montreal, where this exceptional property by Dorem Construction is located. Grocery stores, cafés, bakeries, cheese shops, fruit shops and restaurants are all within walking distance, giving this property unbeatable accessibility that its new owners will surely enjoy.

Overlooking Laurier Avenue, 1474 shines with a beautiful interior designed to offer both privacy and open concept living space, the perfect blend for a harmonious daily life.

Well-thought-out spaces

The large living room and dining room, with its beautiful natural light from the backyard, provide a soothing and cheerful atmosphere. The perfect space to spend quality time.

The custom refined kitchen features a large central island, giving the room unparalleled convenience. Designed with timeless, high-quality materials, the space will delight its future occupants with its many well-thought-out details, including the coffee corner, the cellar space and the glass storage cabinet, providing dimension and refinement to the design.

The living room, from which the rest of the floor is visible, is a key area of the house. The mix of materials, textures and colors provides dynamism and contrast to the room. The white oak floor accentuates the natural light coming in from the outside and gives the house a sense of grandeur.

Everyday luxury

The bathrooms, whose refined design gives the impression of being in a hotel, offer a contemporary industrial charm and undeniable convenience. In the basement, the living space can be modified according to the desires and needs of future buyers of the property. Completely renovated, it can be used as a second living room, bedroom, office or even a gym.

A little corner of paradise

The spacious backyard has been carefully landscaped and is one of the favorite features of our team of real estate brokers!  Wonderfully thought out to offer privacy and serenity, the yard offers both a space for entertaining, a garden portion for green thumbs and a slightly hidden terrace, ideal for sipping your morning coffee! Moreover, coffee lovers, you will not be disappointed, Laurier Avenue offers many good addresses nearby, including Méchants pinsons, Rhubarbe pastry shop and Lapin Pressé, some of our real estate brokers’ favorites !

____________________________________________________________________________

Characteristics and details of the property

Asking price: $1 349 000

Year of construction : 1923

Description : Large exceptional property in the heart of the Petit Laurier. Unique and contemporary. 4 bedrooms. Refined kitchen. Beautiful natural light. Impeccable white oak floors. Noble and quality materials. Quality soundproofing. Finished basement. Charming private yard. Ideal location. Le Petit Laurier welcomes you!

Lot size : 2638 ft²

____________________________________________________________________________

Appearances in media

La Presse | Read the article here

Silo 57 | Read the article here 

YE/SARRAZIN  | Read the article here

Visit the landing page of the Laurier project, by Dorem Construction

contact us

Interested in this property? Discover other properties for sale in the neighborhood

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1001 - 1003, Boul. St-Joseph E., Le Plateau-Mont-Royal (Montréal)
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Looking for a property in Montreal? Contact one of our real estate brokers.

Interview with Emilie Cadieux - Key Information

Interview with real estate promoter Emilie Cadieux

It was the acquaintance of a determined young woman, that we made at the corner of Bourbonnière and Adam streets. Emilie Cadieux, entrepreneur and promoter, is already at her second real estate project in the charming Hochelaga-Maisonneuve neighborhood.

Passionate about business, Emilie saw the world of real estate as a golden opportunity to combine two fields that have thrilled her since a young age: interior design and business administration/strategy. Her bachelor’s and master’s degrees only opened the doors to the development of her own company in the field, Hygge Immobilier, a company that executes large-scale, high-quality real estate projects of which she is, and will remain, proud.

Émilie Cadieux - Promotrice Immobilier

HYGGE Immobilier

Inspired by a Scandinavian feeling of well-being, Hygge perfectly describes the mission that Emilie and her team set for themselves in the creation, the layout of the rooms and the design of these units, which is to create a feeling of conviviality and comfort for the new owners of the property.

Involved in all the crucial stages of the project, Emilie makes it her duty to control the quality of the smallest details that are communicated to her, from the purchase of the land to the design of the units, to the inspection with the future clients, in order to ensure the highest quality of her constructions.

“I am in this business for the right reasons and my real estate projects prove it.” Emilie Cadieux

Pioneer in the field

Well aware of the prejudice that surrounds the reputation of real estate promoters, Emilie makes sure to keep the trust of all her partners and clients, notably by listening to their requests and providing answers to their questions at every step of the construction process. Having long been a man’s domain, Emilie has been able to carve out her own path in this very competitive field and sees it as an unparalleled opportunity to develop her credibility with everyone and to multiply her knowledge and strengths in the field.

A perfectionist at heart, Emilie also makes it her duty to act transparently and authentically with her clients in order to provide them with a quality finished product that meets the expectations and dreams of future owners.

Unique projects, a vibrant neighborhood

 Absolutely unique in its kind, HOMA is a neighborhood that shines by its diversity and its pretty colored streets. The parks, the markets, the restaurants, the bars and the friendliness of the people are for Emilie the most important elements that make Hochelaga-Maisonneuve a great place to live. HOMA is the ideal place for a first-time buyer who wishes to acquire a property in a dynamic neighborhood where opportunities are abundant.

In fact, if you want to know more about this area of Montreal, check out our blog post that will help you discover the best addresses in the neighborhood.

You can also discover Emilie’s new BoHo project on our landing page.

Discover the brand new BoHo Project on our landing page.

Projet BoHo

Are you interested in this real estate project? Contact one of our real estate brokers

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Exploring HOMA with our broker Frederic Vinet - Key Information

Visit Hochelaga-Maisonneuve

Lively, colorful and festive, HOMA is a neighborhood situated south of Montreal’s Olympic Stadium. Close to the Biodome and the beautiful Botanical Gardens, HOMA charms with its local merchants, its joie de vivre and the lifestyle that has been established. Full of neighborhood cafés, grocery stores, markets and boutiques of all kinds, Hochelaga-Maisonneuve offers a lifestyle based on neighborhood life and local businesses.

On the edge of dynamic Ontario Street, HOMA offers a commercial artery where restaurants, bars and boutiques intermingle to give this area an incredible charm and vitality.

Close to the vast Maisonneuve Park, HOMA combines the pleasures of city living with large green spaces where it is pleasant to wander. Offering a multitude of activities and entertainment throughout the year, the famous Ontario Street will delight you with its electrifying energy!

Maisonneuve Market

A few minutes from Pie-IX Boulevard, the Maisonneuve Market offers quality fruits, vegetables and local products in a relaxed and friendly atmosphere. Based on local relationships, the merchants sell the fruits of their harvests according to the season and invite city residents to discover fresh and local products. The Market is also the ideal place to enjoy the summer heat or sunny days in a setting reminiscent of European cities.

Hochelaga Maisonneuve - Immobilier Montréal

Place Valois

Moving a little to the west, it is the Place Valois and its unique charm that we discover. Surrounded by a few stores and the famous Bistro Le Valois, this outdoor space, where cultural and artistic events are held when the weather permits, offers a quiet space in the heart of a vibrant neighborhood. This is where we enjoyed the August sunshine and tasty pizzas from Heirloom, Place Valois’ neighbor.   

Ontario Street

Colorful and lively, Ontario promenade, decorated with flowers and ephemeral installations, remains frozen in time. Offering original businesses, upscale restaurants and essential addresses, this neighborhood street is bursting with life.Whether you want to take an afternoon stroll, discover local merchants or artisans, you will be charmed by this unusual commercial street.

Hochelaga Maisonneuve -Montréal

Contact one of our real estate brokers

See more neighborhood discoveries from our real estate brokers

Required documents for the sale of a proprety - Key Information

Single-family homes, cottages, divided or undivided condominiums, duplexes, triplexes, quadruplexes, the types of properties are numerous. The sale of a property is an important life change that can cause many concerns.

Even though selling a property is a common practice, few people are aware of the various documents required for this real estate transaction. Here is an overview of these mandatory documents to help you better prepare for this exciting life change.

Mandatory documents for the sale of a proprety

The certificate of location

The certificate of location is a document consisting of a report and a plan prepared by a land surveyor. The latter must be a member of the Ordre des arpenteurs-géomètres du Québec (OAGQ).

The certificate of location accurately represents the state of the premises. It includes the physical condition of the premises and indicates any cadastral renovations that have been carried out. The certificate of location proves the conformity of the property with provincial and municipal regulations (e.g. zoning).

This document must be up to date and can take up to six weeks to obtain, depending on the market’s effervescence. In Quebec, it is valid for a period of 10 years. The certificate of location is mandatory because it is required by the notary before the signing of the deed of sale. It is therefore important to plan ahead in order to obtain the certificate of location in time.

The deed of sale

Once the promise to purchase or the counter-proposal to the promise to purchase has been accepted and all the conditions of the promise to purchase have been fulfilled, it is the signing of the deed of sale before a notary that formalizes the sale of the property. This is the final step in the transaction.

The deed of sale is drawn up by a notary who respects the rights of both the seller and the buyer. The notary will also ensure the veracity of the facts mentioned in the promise to purchase.

In the deed of sale, there are various elements such as, among others, the contact information of the buyer and the seller, the description of the inclusions, the price of the transaction and the amount of the notary’s fees.

The deed of loan

The sale of a property is synonymous with mortgage financing. The mortgage deed is a document detailing all the loan components (loan principal, interest rate, amortization period, etc.) of the property financing. The mortgage deed is drafted by a notary and is combined with the deed of sale.

When the property is sold, the notary must verify that the provincial and municipal taxes have been paid. In addition, the balance of the mortgage loan must have been paid in full by the seller. This will allow for the cancellation of the mortgage loan. The notary will then publish the deed of cancellation in the Land Titles. The Land Registry is a report that determines ownership rights. The deed of cancellation in the Land Regime then allows for the removal of the property rights. It should be noted that in the past, a mortgage deed was required to put the property up for sale. Today, the most important document is the last mortgage statement.

School and municipal taxes

School and municipal taxes contribute, among other things, to the financing of various services such as road maintenance and repair, heating of schools and public transit. When selling a property, the future owner must be aware of these amounts. A real estate broker will have access to them and can inform future buyers. The school tax statement indicates the amount to be paid annually. It also shows the evolution of the value of the property in recent years. The municipal tax statement details the amounts imposed by the municipality and the borough.

Specific documents

Divided co-ownership

Declaration of co-ownership

Divided co-ownership is governed by a syndicate of co-ownership which ensures that the building is respected and properly administered. The Declaration of Co-ownership is a notarized document which acts as a binding contract between the various co-owners of the building. The document describes the administrative and living rules of the building. These rules must be respected by the owners, tenants and members of the syndicate of the immovable, under penalty of negative consequences. The Declaration of Co-ownership makes each party responsible and can promote better harmony between co-owners.

Financial Statements

The financial statements of the syndicate of co-owners are reports detailing the accounting situation of the co-ownership for each fiscal year. Any co-owner can have access to these reports.

The minutes

Minutes are a document drawn up following a meeting of the co-owners of a building. It must be clear and concise. The minutes must contain the name of the syndicate of co-ownership, the date and time of the meeting, as well as the comments and interventions of the co-owner members. An appointed secretary is in charge of writing the minutes and they are signed by the president of the syndicate of co-ownership. The minutes then provide an overview of the concerns, comments and decisions made regarding the co-ownership.

Undivided co-ownership

The Undivided Agreement

Unlike divided co-ownership, there is no syndicate which ensures the proper administration of the immovable, but rather an undivided co-ownership agreement detailing the rights of each owner and giving details on the management of the undivided co-ownership. The various expenses for the maintenance of the immovable must be separated between the owners depending on the shares of each. The undivided co-ownership agreement is not mandatory, but is strongly recommended for the proper management and administration of undivided co-ownership.

Plex : duplex, triplex, quadruplex (...)

Leases

There are different types of leases: six months and less, six months and more, and open-ended leases. However, a lease is automatically renewed and is usually for a period of 12 months. There is a time limit for notifying tenants of an increase in the rental amount. When the property is sold, a copy of the leases must be provided to the new purchaser.

Notices of renewal or non-renewal

Even when a property is sold, a tenant has a right to remain in the premises. This means that he or she can stay as a tenant for as long as he or she wants. The landlord sends a renewal notice to the tenant to find out if he or she will stay on the premises. The tenant has a specified time to respond to the landlord. Failure to respond will result in the renewal of the lease. At the time of sale, the renewal or non-renewal notices allow the buyer to have a better idea of the amount of rent paid by the tenants. 

As mentioned, the sale of a property requires mandatory documents depending on the type of property. Specificities may also be required at each step of the real estate transaction.

If you are thinking of selling your property or simply have questions, contact one of our real estate brokers to find out how we can help you.

Contact one of our real estate brokers

Demystifying the goodwill in Quebec - Key informations

What is a goodwill?

A goodwill is a legal concept present in various countries such as Belgium or France. But this commercial notion is quite ambiguous and can lead to misunderstandings. In Quebec, what exactly is a goodwill?

A goodwill

In Quebec, a goodwill refers to an intangible asset, which means that it is not tangible. A goodwill is characterized by the combination of intangible and tangible elements that the trader owns in order to operate a commercial or industrial activity. These elements then make it possible to attract customers and retain them. A goodwill will be different depending on the commercial activity. However, the walls of the building, the receivables and the debts are not part of the goodwill. The legal regime will then be different when the business is sold.

Tangible elements

Tangible elements are elements that have a material existence. They refer to fittings, equipment and stocks that are related to the activity of the business. These are also the goods intended for sale. For example, if the business is a restaurant, the physical items could be chairs, tables, kitchen equipment etc.

Intangible elements

Intangible elements are elements that have no material existence. In a business, they can designate the trade name or trade sign, the various operating licenses and its reputation. However, it is the clientele and the right to lease that have the greatest value in a goodwill. 

Fonds de commerce restaurant Montréal

Its main components

The clientele

When buying a goodwill, customers are very important. Indeed, a goodwill could not exist without its customers. A clientele refers to all of the people who do business with the business. It must be autonomous and suitable for commerce. If the clientele evolves, the goodwill will also evolve. If the customer base is not exploited, the business will decline.

If too big changes take place, the clientele of the goodwill will change and this will reveal the birth of a new goodwill. But a cessation of activities in the business would make the clientele disappear and then the goodwill itself. The operation or non-operation of the business therefore determines the existence of the goodwill.

Traffic

Traffic is also an important component of a goodwill. Traffic refers to a transient clientele or a local clientele of the fund. Despite the fact that traffic does not refer to a goodwill’s own clientele, it is still important. Indeed, the higher the turnover of the business, the more traffic there is.

The right to lease

The right to lease refers to the right of the owner of the goodwill to carry out his commercial activities within the walls of the business, that is to say to become a tenant of the walls, until the termination of the lease. The acquirer of the business will then benefit from this right to the lease.

Sale of a goodwill

When selling the goodwill, you have to define the type of business. Is it a corporation or a business?

If it’s a corporation, you can buy the business and the shares go to the transferor.

If it’s a business, then you have to buy the entire business.

A broken down promise to purchase

After determining the type of business, all the elements of the goodwill must be broken down, that is to say to divide the expenses and the costs, on the promise to purchase. This is particularly important given the different activities that are possible in a goodwill. For example, when a buyer buys a clothing store, he buys his inventory. In this case, there are established prices for the goods or inventory. However, these prices will be paid separately, as the inventory is not stable over time and is constantly changing depending on the seasons.

A negociated agreement

Following the breakdown of the offer to purchase, a price agreement is negotiated between the seller and the buyer. Different steps must be taken such as the transfer tax, being the payment related to the change of ownership or the deed of assignment.

Before the signing of the deed of assignment, the seller must be responsible for having paid all his debts, works and various obligations related to the goodwill. After the signing of the deed of sale, the buyer is the new owner and will be responsible for all future expenses related to his commercial activity.

Purchase of a goodwill

Sustainability

When buying a goodwill, the majority of sellers want buyers to sign a new lease. Thus, sellers will not be held responsible for buyers. On average, a business requires a lot of time and money (in renovation, decoration, etc.). A buyer therefore wants to operate his goodwill for a period of at least five years.

The staff

As mentioned earlier, buying a goodwill means acquiring its clientele, but also having access to the staff and suppliers. It is the buyer’s choice whether to keep existing staff or not. However, it is important to remember that the loyal clientele of a business is often attached to its staff. The complete dismissal of staff or too drastic changes in the trade could then make the clientele insecure and even make it disappear. You must therefore make wise choices, because why change a winning formula!

Contact one of our commercial real estate brokers to help you with your sale or purchase of a goodwill.

Contact one of our real estate brokers

Cancelling an offer to purchase, is-it possible? - Key information

Is it possible to withdraw from an offer to purchase following an inspection?

After various searches with your real estate broker, you finally made the decision to buy a property. You then make an offer to purchase to the seller and it is accepted. After reading and certifying the seller’s declaration form, it is now time for the inspection of the property. However, following the inspection, you decide to withdraw from the offer to purchase. Is it possible? Here are some important tips and information you need to know.

offre d'achat signée

Declarations by the seller of the immovable form

The transparency of the seller

The Seller’s Declaration Form of the Immovable (commonly referred to as ‘’SD’’) is a mandatory document that must be completed by the vendor when selling his property. It is the seller’s duty to be transparent in his statement. This form of approximately six pages describes the history and details of the property, from past renovations, insect infestations to water damages. The declaration has to be read carefully by the buyer, who has to take note of the various statements made. The ‘’SD’’ is then signed and appended to the Promise to purchase.

Once the Promise to purchase is accepted, a time limit is set to fulfill the terms of the offer to purchase including the inspection. This time limit is variable and is approximately seven to 15 days.

Prepurchase Inspection

During and after the inspection

The real estate broker plays an important role in the inspection of the property. Indeed, whether it is with the buyer or the seller, the broker will participate in the inspection and make observations about the property. For his part, the building inspector will provide an inspection report and give various comments to the buyer.

Although sometimes neglected in order to speed up the sales process, the inspection of a property is a crucial step. During the inspection, the broker can detect disturbing elements of the property or highlight major issues that were not listed in the seller’s declaration form.

Completion or non-completion of the inspection condition

Following the inspection, within a 24 to 48 hours delay, the report is sent to the broker. Once this report is received and analysed, the buyer can declare himself satisfied and no change will be made to the promise to purchase. The transaction is ongoing.

If the buyer is not satisfied, there are options available to him. However, the promise to purchase is a contract that binds the two parties involved. The reasons for modifying an offer must be valid. So there has to be elements that came out of the inspection report that are problematic, which means that they represent a risk or additional costs associated with the property. These so-called “problems” may also not have been mentioned in the seller’s declaration form. At this point,the buyer may then negotiate the price or withdraw from the offer to purchase.

Following this decision, a notice and a copy of the inspection report must be sent to the seller in order to formalize the cancellation of the promise to purchase.

Cancellation terms of the offer

The new laws require valid reasons to cancel a purchase offer after the inspection. These reasons now include a major issue leading to significant costs in proportion to the selling price. It must be a serious, non-cumulative problem, and only revealed by the inspection.

Valid reasons for modification

The reasons for modifying an offer must be directly related to problematic elements identified in the inspection report. These elements must represent a risk or additional expenses associated with the property and must not have been mentioned in the SD form.

Renegotiation and withdrawal of the offer

Renegotiation is no longer an automatic tool after the inspection. It is possible only if the seller is willing, and the buyer must have a genuine right to withdraw. The new laws aim to ensure that the seller agrees to negotiate rather than lose the buyer.

In this evolving legislative context, being accompanied by a real estate broker remains essential to navigate through these new requirements and ensure a compliant purchase or sale. Do not hesitate to seek the expertise of our real estate brokers at every step of the process.

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