Buyer Information
Drop in Key Interest Rate to 3.75%: An Opportunity for Buyers and Sellers!
Table des matières Montreal, October 23, 2024 – Today, the Bank of Canada announced a substantial cut in
See condos for sale
About the units
Private outdoor area
- All units have a terrace
or a private balcony
Materials
Soundproofing with resilient bars.
Urethane insulated exterior walls.
Ceilings between dwellings with acoustic insulation.
Finishes
- White oak floors.
Quartz countertops.
Kitchen cabinets in Euro-laminate.
Top of the range faucets.
Inclusions
- Heat pump.
Luminaire.
Others, depending on the unit.
Living in the Petit Laurier
- A peaceful atmosphere in an urban setting -
Lovers of neighbourhood life, the Petit Laurier, a unique area of the Plateau Mont-Royal, will undoubtedly charm you with the peace and joy that emanates year round. Spread around a rich architectural heritage, this district offers both a dynamic lifestyle, by its centrality, and a daily tranquility, thanks to the proximity of the large Laurier Park, which is within walking distance of the surrounding shops and housing.
Grocery stores, restaurants, cafes and charming shops, Le Petit Laurier, a unique neighbourhood, offers its residents the benefits of the city by the abundance and proximity of its shops and major arteries, in a peaceful and family atmosphere.
At the same time young and family, this unique neighborhood constitutes a warm, friendly and sparkling living space.
Public transport
- Several bus routes nearby
(45, 27, 47, 97, 10, and others).
Laurier Station and Mount Royal within walking distance.
Walk Score : 80
Almost everything is within walking distance.
Bike Score : 100
Bike path directly on Laurier Street.
Green spaces nearby
Laurier Park and Lafontaine Park within walking distance. Close to Mount Royal.
Within 100 meters
- Grocery store
Fruitery
Bakery
Several coffees
Restaurant of all kinds
Hardware store
Butcher’s shop
Pharmacy
Why choose this neighborhood
For its good addresses
Lovers of ice cream, pastries and pizza, the Petit Laurier will charm you with its offer of gourmet addresses. The famous Bo-Bec Creamery, Le Fromentier, Pâtisserie Rhubarbe, Café Méchant Pinsons are just a few of the good addresses located directly on Rue Laurier.
For its dynamism
Created several years ago by residents of the area wishing to recreate a village atmosphere and lifestyle, the Petit Laurier stands out from other neighborhoods by its dynamism and lively family atmosphere. Located close to downtown and Avenue Mont-Royal, the Petit Laurier is both young and hip, while being very attached to its roots, history and local merchants.
For its proximity to the park
This large park in the heart of the Plateau Mont-Royal has been the pleasure of the neighborhood residents for years! Whether it’s lounging by the public swimming pool, having a BBQ with friends during the hot season or bringing your Bibi to the dog park, Laurier Park certainly enjoys a festive and dynamic atmosphere, characteristic of the area.
Dorem Construction
“Dare to build” ! This is the mission that Dorem’s team has set itself in designing and delivering their real estate projects. The satisfaction of their customers is at the heart of the team’s values, which does not hesitate to mobilize all the resources at their disposal to meet the desires and needs of their buyers. The use of high-quality and durable materials allows the team to create high-value projects with a neat and clean design, while preserving the details and singularities of the original architecture of the buildings.
“Dorem, these are aesthetic, sustainable and thoughtful real estate projects.”
As residents and enthusiasts of the Plateau Mont-Royal for many years, the team ensures that each of the completed real estate projects reflects their love for the neighbourhood and its dynamism.
Montreal is undeniably booming! Its unparalleled social and cultural development in America, its constant improvement of greener means of transport and its urban revitalization make it an innovative city. It is changing at the same pace as its population, as evidenced by the multiplicity of small local businesses and the greening of its neighbourhoods.
The significant development of new condominium projects in recent years has certainly contributed to the bubbling of the city. This type of resolutely urban housing easily meets current needs and habits.
With its green streets, cycling is common here, while being close to major public transport routes and the metro network makes it easy to get around. Whether it is to get to the city centre, the Quartier des spectacles or the Old Port, the path is fast and pleasant.
Discover our new condo projects for sale
Rosemont-La Petite-Patrie
6202 1st Avenue
- In a space signed Crul Design cabinetry and Laurianne Deslauriers architect, the project has unique architectural features and high finishes of inimitable ranges. Located in a very popular area for its friendly and warm atmosphere, the housing project stands out for its remarkable fenestration that lets in a pleasant natural light, thus daily rocking the vast spaces of its beautiful warmth.
Le Plateau-Mont-Royal
Le St-Grégoire
This project designed by the Mancini Group offers spacious and bright living spaces in a dynamic neighborhood. The gourmet kitchen with its central island, the cozy living room and the pretty roof terrace: the spaces have been finely designed for an urban family.
Our completed projects
Living in the Petit Laurier
A peaceful atmosphere in an urban setting
Lovers of neighbourhood life, the Petit Laurier, a unique area of the Plateau Mont-Royal, will undoubtedly charm you with the peace and joy that emanates year round. Spread around a rich architectural heritage, this district offers both a dynamic lifestyle, by its centrality, and a daily tranquility, thanks to the proximity of the large Laurier Park, which is within walking distance of the surrounding shops and housing.
Montreal, at the heart of the vibrant HoMa – Condominiums
Inspired by a feeling of Scandinavian well-being, Hygge, this project offers you vast and user-friendly living spaces to provide you with comfort in your family nest. Combining noble materials with high-quality finishes, this new construction is located in the vibrant Hochelaga-Maisonneuve district where parks, markets and restaurants are nearby. [… ]
Montreal, in the heart of the Plateau Mont-Royal – Condominiums
Living in the centre of Montreal in an iconic neighbourhood, at the corner of Saint-Denis Street and Mont Royal Avenue, the Univert Plateau Mont-royal reveals a lifestyle where the possibilities are endless. Whether you want to explore your city on foot or by bike, by car or by metro, the Univert Plateau opens the way to discoveries only in Montreal. [… ]
Montreal, in the heart of Petite-Patrie – Condominiums
Built with noble and quality materials, this project located on 1st Avenue is distinguished by its modern character, clean lines and warm atmosphere. Large and bright, discover these exceptional contemporary condominiums whose transitional and Scandinavian-style design provides functionality and […]
Montreal on the Plateau Mont-Royal – Condominiums
An eco-friendly project of new condos in the heart of the Plateau Mont-Royal. Ardesia’s wealth and success are based both on its innovative design and its harmonious integration into the neighbourhood. Thanks to its varied choice of housing categories, going from small studio to large units of type […]
Check out our blog to stay up-to-date on real estate news in Montreal
Buyer Information
Provident Fund, Maintenance Booklet and Inspector Certification for the Real Estate Sector: Bill 16
Table des matières On December 5, 2019, the provincial government adopted a major reform of the Régie du
News
Mortgage reforms: towards easier access to home ownership for Canadians
Mortgage reforms – Important points As of December 15, Canadians will find it easier to buy a home,
Here’s the scoop on must-try flavours ! 🍦
As foodies, we are fortunate to be in Montreal, a gastronomic destination par excellence. Indeed, the city is full of delicious gourmet shops to enjoy a variety of dishes and decadent ice creams.
If you don’t already know, our real estate brokers in Montreal love sweet treats. We love discovering hidden culinary gems in the different neighborhoods of the city. Without further ado, we offer you 5 ice cream addresses that you must try before the summer comes to an end:
UNICONE - LE PLATEAU-MONT-ROYAL
Address: 3873 Saint-Denis Street, Montreal, QC
A few steps away from our office, Unicone offers a different vegan swirl on a weekly basis inspired by different flavors around the world! If you see something you like, try it quickly because it will be only available for few days. Rest assured, Unicone also offers a selection of permanent flavors. Among their most iconic creations are: Ube halaya & Gulab Jamun, Mochi Matcha, Baklava and more!
Psst : Watch our TikTok of our visit to Unicone! 👇
@yesarrazin One of the tastiest ice cream spot in Montreal🤤 #goodeats #mtlfood #montreal #foodies ♬ love nwantinti (ah ah ah) - CKay
ICONOGLACE - ROSEMONT-LA-PETITE-PATRIE
Address: 1320 Belanger Street, Montreal, QC
Iconoglace is known for its funky desserts, hence its name, which refers to the word “iconoclast”, which means the rejection of traditions. Whether it’s for their bubble tea-flavored Sundae or their reinvented Gutsy kombucha-based float, Iconoglace will surely surprise you!
LES GIVRÉS - VILLERAY
Address: 334, rue de Castelnau E, Montreal, QC
Recognized for its famous twist with seasonal flavors, this dairy bar offers you completely vegan products adapted to all types preferences. You will also be seduced by the creamy and smooth texture of their ice cream, which results from a choice of simple and authentic ingredients.
LE BILBOQUET - OUTREMONT
Address: 1311 Bernard Avenue, Outremont, QC
At Bilboquet, all frozen desserts are made with Quebec products. Let your tastebuds be charmed by their sorbets made from organic fruit purée or by their multitude of vegan flavors. Our favorite flavors? Chocolate-orange ice cream and raspberry sorbet!
KAMEHAMEHA - VILLE-MARIE
Address: 1190 Sainte-Catherine Street E, Montreal, QC
This Hawaiian snack bar is famous for its “taiyaki” cones; a Japanese fish-shaped cake that the restaurant has chosen to use as a soft cone. As for the ice cream flavor, you can choose between the two flavors of the moment or mix them.
As you can see, Montreal is full of neighborhood ice cream bars, each just as decadent as the next. So many different options! We hope you enjoy these frozen discoveries as much as we do and that you will enjoy one of these frozen treats by the end of summer!
And now which creamery are you going to try first?
Want to find out more about your neighborhood? Contact one of our real estate brokers!
Consult other neighborhood discoveries
Easy-care Houseplants, Summer and Winter alike
Decorate your Nest with Easy-care Indoor Plants Decoration plays a crucial role in personalizing your interior and making
Croques-livres: A Passion For Reading Accessible To All
Croques-livres : Sharing your Literary Favourites With the arrival of cooler weather, it’s the perfect time to find
La Panzeria ｜ Plateau-Mont-Royal
Table des matières If you’re familiar with our team of real estate brokers, you know that stopping by
5282 - 5290 AVENUE PAPINEAU, PLATEAU-MONT-ROYAL, H2H 1W2
LOT AREA: 4,128 SF
NUMBER OF ROOMS : 27
YEAR BUILT : 1925
GOLDEN OPPORTUNITY IN THE HEART OF THE PLATEAU. For investor or owner occupant. Quintuplex with high potential income and many recent renovations. Modern kitchens and bathrooms. Washer-dryer installations. Wooden floor. A few steps from Laurier Park and the charming shops of Laurier Avenue. Don’t miss this opportunity!
Pierre Viens
Residential and commercial real estate broker
Cell : 514 886-6270
E-mail : pierreviens@hotmail.com
Does this income building with high potential income interest you?
VISIT BLOCKS (appointment only):
– Saturday, July 9th from 1:30 to 2:30 pm
– Sunday, July 10th from 1:30 to 2:30 pm
– Monday, July 11th from 5pm to 6pm
A new certificate is currently on order.
Global discount rate 2022-2023 : 4,02%
**At the seller’s request, the inspector must be chosen by mutual agreement. The inspector must be a member of a professional order or a recognized association; he must hold valid professional liability insurance in an amount greater than the purchase price. The inspector must hold a level 1 certificate for the use of a thermography device.
Land dimensions 28′ X 147′ à
Field’s surface 4,128 sq. ft.
Parking (total)
Aisle : 6
Zoning Residential
Sale without legal warranty of quality, at the buyer’s risk and peril.
Electricity
Wall-mounted heat pump
Municipality
Municipality
For all units (5): Washer, dryer, dishwasher and wall mounted heat pump.
Window treatments, furniture and personal effects of tenants
ASSESSMENT (2022)
TAXES
- (2022)
- (2022)
GROSS YEARLY REVENU (POTENTIAL)
ANNUAL EXPENSES
Contact Pierre Viens - Residential and commercial real estate broker
SEE MY PROPRETIES FOR SALE
Montréal
Two or more storey
4
3
1875
1440sq/ft
1 699 000$
Montréal
Two or more storey
4
2
1900
1650sq/ft
1 699 000$
Montréal
Quintuplex
2
1
1930
2 749 000$
Montréal
Apartment
3
1
1910
946.88sq/ft
599 000$ + TPS/TVQ (688700 $)
Montréal
Triplex
3
2
1965
1849.64sq/ft
1 074 000$
Montréal
Quintuplex
1
1
1915
2600sq/ft
1 249 000$
4242 Boyer - Key Information
A sought after sector
It is in the heart of the Plateau Mont-Royal, on quiet Boyer Street, that this superb two-storey home of over 2000 sq. ft. is located. With spacious living areas on the first floor, this property is the perfect place to spend quality time with loved ones and to entertain in style!
The large kitchen, with a beautiful and convenient island in the center, lets an abundance of natural light into the entire space thanks to its large windows overlooking the lovely backyard. Perfectly adaptable to the tastes of the future owners, the outdoor space is a true haven of peace in the center of a dynamic and lively area.
Details with a unique cachet
On the second floor, the skylight also gives way to a magnificent clarity that illuminates the rooms and provides a welcoming and serene atmosphere to the place. The mix of architectural elements with preserved cachet and the modern design of the place also creates a unique contrast and provides a unique charm to the whole property.
The superb master bedroom has access to a warmly appointed balcony; the perfect place to relax and enjoy the warm rays of the sun during the summer season.
Located only a few steps from the large La Fontaine Park and within walking distance of the neighborhood’s amenities and the best gourmet addresses on Rachel Street and Mount Royal Avenue, 4242 Boyer Street welcomes you!
A truly exceptional property to discover today!
____________________________________________________________________________
A truly exceptional property to discover today!
Asking price : $1,949,000
Year of construction : 1900
Description : UNIQUE AND INTEMPORAL. Large living space. 3 bedrooms + ultra-functional office space for teleworking. Remarkable luminosity – abundant windows. High ceilings. Gourmet kitchen with central island. Generous master suite with bathroom and walk-in closet. Impeccable flooring. Trendy ceramics. Brick walls. Sunny and beautifully landscaped yard. Dream location!
Area : 2249 sq. ft.
Read Silo 57’s article on 4242 Boyer Street (only available in french)
____________________________________________________________________________
Looking for a property in Montreal? Contact one of our real estate brokers
Multiple offers : 7 strategies to stand out from the competition - Important points
In a seller’s market, the number of properties for sale is not sufficient to meet the demand. It is not uncommon for more than one buyer to be interested in the same property, and this is even more the case in the more desirable areas of the city of Montreal. As a buyer, you can sometimes find yourself in a multiple offers situation and overbidding, which can seem tricky and even discouraging. However, there are several strategies to consider in this situation to increase your chances of winning.
Here are 7 that can help you :
Do your research
Define what criteria are really important to you when you begin your search for a new property. If your criteria are not well defined, you may not have enough time to evaluate the neighborhood and the characteristics of the properties (neighborhood schools, number of rooms needed, maximum budget, etc.). By having clear criteria, you will reduce stress and focus on the opportunities that really meet your needs.
Work with an experienced real estate broker
In a multiple offer situation, the selling price is usually higher than the asking price. A real estate broker who knows the Montreal market well will be able to advise you on the price at which a property should sell and help you set the right price for your offer.
His knowledge of neighborhoods, recent transactions and the legal aspects of a real estate transaction will give you access to all the information you need to make informed decisions. In addition, he will be able to put his network of trusted professionals (appraisers, mortgage brokers, notaries, etc.) at your disposal so that you will be ready when the time comes to fulfill the conditions of your promise to purchase.
Get a mortgage pre-approval and proof of funds
It is important to know that in a multiple offer situation, you will not be able to know the conditions offered by the other buyers, including the price. Although the seller’s broker must advise you of the number of offers, no other element can be mentioned.
In order to demonstrate your intentions and commitment to the seller, it is strongly recommended that you obtain a mortgage pre-approval from your financial institution in addition to your down payment. This letter will demonstrate to the seller that you are not financially locked in. You can also obtain a proof of funds which will further reassure the seller.
Find out what conditions are important to the seller before you make an offer
The price is not the only element considered at the time of a purchase. In fact, other clauses such as the occupancy date play a major role in the sellers’ decision. If you are flexible with the date of signing or taking possession, or with inclusions/exclusions, talk to your broker or the seller’s broker (if you are buying alone). They will be able to give you more details on the sellers’ expectations.
The more your terms accommodate the seller’s preferences, the more likely you are to get their attention. There is also the option of making an offer not conditional on an inspection. Although this option is more risky, it is best to discuss it with your real estate broker first.
If the seller wants 48 or 72 hours, do not try the option of reducing the time to 24 hours. This may have a negative effect, rushing the seller who is receiving multiple offers.
Introduce yourself and your projects
Sellers are often emotionally attached to their property, they often want to know the next people who will live there and their plans. By taking the time to write a presentation letter, prepare a video or a photo collage, you increase your chances of showing that you are the ideal buyer. Don’t forget to present your family, your projects or your background, they might recognize themselves in you!
Opt for short deadlines for the completion of requirements
It is suggested to set deadlines as short as possible, while remaining realistic. A serious and ready buyer should have all the information ready in case of an accepted offer to start the process. Consult your inspector in advance to find out the minimum notice period he needs, or your bank or mortgage broker for financial approval deadlines.
Consider upgrading your offer or accepting the 2nd rank
If you find the property of your dreams or are looking for a home in an area where listings are scarce, discuss with your broker the option of increasing your offer. Offering your highest price may get you the property you want. If your offer is not accepted, and you have a strong interest in the property, you can put in a second offer. This option ensures that your offer will be accepted if the initial offer falls through.
Some additional tips from our real estate brokers
The Montreal market is as active as ever and properties are selling at a record pace. It is therefore strongly suggested to act quickly. Don’t wait for the visit to see the street or the area of the property. Come by during the day and evening to see the façade and exterior, and if there is an alley, visit it. Respect the seller’s requests regarding the deadline for submitting offers.
If you choose a real estate broker, take the time to check out the reviews of buyers and sellers on Google, to see what they thought of the service offered. After all, it’s people like you who will give you a real idea of what to expect.
Happy searching, and especially happy transactions!
Do you have any questions? Contact one of our real estate brokers
See more real estate news
Buyer Information
Real estate statistics – October 2024: Montreal real estate market in full swing
The real estate brokers on our team have analyzed the APCIQ’s real estate statistics for October 2024, comparing them with those for October 2023, in
8 November 2024
Neighborhood Discovery
Easy-care Houseplants, Summer and Winter alike
Decorate your Nest with Easy-care Indoor Plants Decoration plays a crucial role in personalizing your interior and making it a true reflection of your style.
6 November 2024
Neighborhood Discovery
Croques-livres: A Passion For Reading Accessible To All
Croques-livres : Sharing your Literary Favourites With the arrival of cooler weather, it’s the perfect time to find a good book for your children. Jacynthe,
29 October 2024
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!
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 !
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 !
Consult other real estate news
Buyer Information
Drop in Key Interest Rate to 3.75%: An Opportunity for Buyers and Sellers!
Table des matières Montreal, October 23, 2024 – Today, the Bank of Canada announced a substantial cut in its key interest rate to 3.75%. This
23 October 2024
Buyer Information
Provident Fund, Maintenance Booklet and Inspector Certification for the Real Estate Sector: Bill 16
Table des matières On December 5, 2019, the provincial government adopted a major reform of the Régie du logement, marked by Bill 16. This initiative
9 October 2024
News
Mortgage reforms: towards easier access to home ownership for Canadians
Mortgage reforms – Important points As of December 15, Canadians will find it easier to buy a home, thanks to two new reforms implemented by
1 October 2024
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: $1 349 000
Year of construction : 1923
Description : Large exceptional property in the heart of the Petit Laurier. Unique and contemporary. 4 bedrooms. Refined kitchen. Beautiful natural light. Impeccable white oak floors. Noble and quality materials. Quality soundproofing. Finished basement. Charming private yard. Ideal location. Le Petit Laurier welcomes you!
Lot size : 2638 ft²
____________________________________________________________________________
Appearances in media
La Presse | Read the article here
Silo 57 | Read the article here
YE/SARRAZIN | Read the article here
Visit the landing page of the Laurier project, by Dorem Construction
Interested in this property? Discover other properties for sale in the neighborhood
Montréal
Two or more storey
4
3
1875
1440sq/ft
1 699 000$
Montréal
Two or more storey
4
2
1900
1650sq/ft
1 699 000$
Montréal
Quintuplex
2
1
1930
2 749 000$
Looking for a property in Montreal? 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.
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
Buyer Information
Drop in Key Interest Rate to 3.75%: An Opportunity for Buyers and Sellers!
Table des matières Montreal, October 23, 2024 – Today, the Bank of Canada announced a substantial cut in its key interest rate to 3.75%. This
23 October 2024
Buyer Information
Provident Fund, Maintenance Booklet and Inspector Certification for the Real Estate Sector: Bill 16
Table des matières On December 5, 2019, the provincial government adopted a major reform of the Régie du logement, marked by Bill 16. This initiative
9 October 2024
News
Mortgage reforms: towards easier access to home ownership for Canadians
Mortgage reforms – Important points As of December 15, Canadians will find it easier to buy a home, thanks to two new reforms implemented by
1 October 2024
A treasure in the heart of the Petit Laurier
Born from the dream of Elisheva San Nicolas, the owner, of making people travel through the discovery of everyday objects, the charming boutique Coeur d’Artichaut was born. Located on Laurier Street, this concept store inspires with its unique atmosphere and the beautiful finds it offers. If you are looking for inspiration for the living room, the kitchen, the bedroom or even the garden, Coeur d’Artichaut offers a fascinating selection of products that evolves and changes with the seasons and Elisheva’s finds.
For the love of simplicity
Originally from Mexico, the owner of the business emanates a unique joie de vivre and a real love for each of the decorations she offers. Elisheva is passionate about her products and makes sure to put forward her partners and the story behind each of her finds during her transactions.
Clara Sabourin, marketing coordinator for YE/SARRAZIN, fell in love with the boutique on her first visit. Fascinated by the variety of objects displayed and the owner’s staging skills, Clara had a real crush on the brand new jewelry collection offered at the boutique. Passionate about real estate and interior design, Clara was amazed by the decorative items and furniture offered by Coeur d’Artichaut.
A store that transports you
Between the rattan chairs, the colored sofas, the lights, the flowers, the decorative accessories, the dishes and the bedding, the boutique at the corner of Garnier Street delights its visitors with the beauty of the place and the cozy atmosphere that makes you want to escape. Also offering collections of clothing and jewelry, the Coeur d’Artichaut boutique offers a nice variety of products, enough to please all tastes!
Elisheva San Nicolas staged one of the exceptional units renovated by Dorem Construction, on Laurier Avenue.
The boutique Coeur d’Artichaut is located at 1451 Laurier Avenue East, on the Plateau Mont-Royal.