Seller Information - Courtier Immobilier Montréal Yanick E Sarrazin https://yanicksarrazin.com/en/immobilier/category/seller-information/ Plateau Mont-Royal, Outremont, Rosemont La-Petite-Patrie, Mile-End, Ville Marie Wed, 16 Apr 2025 18:40:40 +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 Seller Information - Courtier Immobilier Montréal Yanick E Sarrazin https://yanicksarrazin.com/en/immobilier/category/seller-information/ 32 32 Key interest rate maintained at 2.75%: A favorable environment for the real estate market! https://yanicksarrazin.com/en/immobilier/buyer-information/real-estate-news-buyer-information/key-interest-rate-maintained-at-2-75-a-favorable-environment-for-the-real-estate-market/ Wed, 16 Apr 2025 18:40:38 +0000 https://yanicksarrazin.com/?p=75229 Montreal, April 16, 2025 – The Bank of Canada has decided to maintain its key rate at 2.75%. This stability is explained by economists’ desire to await developments in the ongoing trade war between Canada and the United States before making any adjustments. Source : Bank of Canada Maintaining this rate continues to have a […]

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Montreal, April 16, 2025 – The Bank of Canada has decided to maintain its key rate at 2.75%. This stability is explained by economists’ desire to await developments in the ongoing trade war between Canada and the United States before making any adjustments.

Source : Bank of Canada

Maintaining this rate continues to have a positive impact on the Canadian economy. In particular, it encourages consumer spending, since lower interest rates reduce borrowing costs for financial institutions, which can then offer advantageous terms to their customers. This favorable environment could encourage more buyers to realize their real estate projects.

While this decision is particularly favorable for buyers, it also has advantages for sellers. Increased demand on the real estate market, supported by easier access to credit, increases the likelihood of selling quickly at a competitive price. In short, the improvement in household purchasing power could breathe new life into the real estate market as a whole.

To better understand the impact of the 2.75% key interest rate on your real estate projects, don’t hesitate to contact our real estate brokers in Montreal.

Sources

Bank of Canada. https://www.bankofcanada.ca/core-functions/monetary-policy/key-interest-rate/?theme_mode=light&_gl=1*1v19lw8*_ga*MTQ5NjYzMjA2Ni4xNzQ0ODEzNzU2*_ga_D0WRRH3RZH*MTc0NDgyODMwMC4yLjAuMTc0NDgyODMwMC42MC4wLjA.

Bank of Canada.
https://www.bankofcanada.ca/2023/12/how-higher-interest-rates-affect-inflation/?theme_mode=light&_gl=1*112lhw*_ga*MTQ5NjYzMjA2Ni4xNzQ0ODEzNzU2*_ga_D0WRRH3RZH*MTc0NDgyODMwMC4yLjEuMTc0NDgyODM1OC4yLjAuMA. 

La Presse. https://www.lapresse.ca/affaires/economie/2025-04-16/banque-du-canada/le-taux-directeur-reste-inchange-a-2-75.php


L’article Key interest rate maintained at 2.75%: A favorable environment for the real estate market! est apparu en premier sur Courtier Immobilier Montréal Yanick E Sarrazin.

]]> 5 tips for selling your property with total serenity https://yanicksarrazin.com/en/immobilier/seller-information/5-tips-for-selling-your-property-with-total-serenity/ Thu, 27 Feb 2025 15:40:57 +0000 https://yanicksarrazin.com/?p=71610 You are thinking of selling your property in the next year, but don’t know where to start? Our team of real estate brokers in Montreal shares 5 tips for selling your property with total serenity.  Put your trust in a real estate broker It can be tempting for some sellers to want to sell their […]

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You are thinking of selling your property in the next year, but don’t know where to start? Our team of real estate brokers in Montreal shares 5 tips for selling your property with total serenity. 

Put your trust in a real estate broker

It can be tempting for some sellers to want to sell their property on their own to avoid certain costs. However, this represents a risk, as most sellers are not familiar with the real estate market. That’s why it’s essential to use the services of a qualified real estate broker. This professional will be able to provide you with the necessary advice throughout the process of putting your property up for sale. By working with a broker, you’ll save a considerable amount of time, gain access to a large network of potential buyers, and reduce the legal risks involved in real estate transactions.

Establish a fair and competitive price

Price is a crucial factor when putting your property up for sale. It must be both fair and competitive, as this directly influences buyer demand. Indeed, a price that is too high in relation to the real value of the property, or to that of other similar properties on the market, can dissuade potential buyers. That’s why it’s vital to work with an experienced real estate broker to determine the optimum price. Thanks to their in-depth knowledge of the market, they will be able to make comparisons with other properties for sale similar to yours, and advise you on the right price to set.

Prioritize professional photographs

Professional photos play a crucial role when putting your property up for sale. They highlight the unique assets of your property. What’s more, professional photos help future buyers to imagine themselves in their new home.

If you’d like some tips on how to maximize your professional photography, we invite you to read our article on the subject here.

Source : Studio Point de vue

Highlight the neighborhood's assets

When describing your property, it’s crucial to highlight the assets of your neighborhood. After all, buyers don’t just buy a property, they also invest in its environment and location. To generate their interest, don’t hesitate to highlight the strong points of the location, such as green spaces (parks, public gardens), proximity to schools, as well as other amenities that contribute to quality of life, such as shops, public transport and road links.
Green areas

Source : Unspash

Make any necessary improvements

Finally, it’s essential to complete minor repairs to your property so that it looks at its best. For example, replace faulty light bulbs, fill in small holes in the walls, and carry out any other minor repairs that will help improve the overall appearance of the property.

By applying these 5 tips, you’ll be well on your way to selling your property quickly and under the best possible conditions. These tips will not only enhance the value of your property, but also maximize its attractiveness to potential buyers. Don’t hesitate to contact a member of our team of brokers for more advice on putting your property on the market.

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]]> Real estate statistics December 2024: Montreal real estate market on the rise https://yanicksarrazin.com/en/immobilier/buyer-information/real-estate-news-buyer-information/real-estate-statistics-december-2024-montreal-real-estate-market-on-the-rise/ Wed, 15 Jan 2025 20:41:16 +0000 https://yanicksarrazin.com/?p=68329 Our Montreal real estate brokers have analyzed the latest APCIQ real estate statistics, covering the month of December 2024. The purpose of this study is to assess trends in the Montreal real estate market over the past year, by comparing data obtained in December 2024 with that obtained in December 2023. For a more detailed […]

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Our Montreal real estate brokers have analyzed the latest APCIQ real estate statistics, covering the month of December 2024. The purpose of this study is to assess trends in the Montreal real estate market over the past year, by comparing data obtained in December 2024 with that obtained in December 2023. For a more detailed analysis, our real estate brokers have structured their observations into three main categories: single-family homes, divided and undivided co-ownerships, and plexes (2 to 5 units).

Overview of the Montreal real estate market

*Based on APCIQ real estate market statistics

Single-family homes

Sales of single-family homes rose by 51%, from 193 to 291 transactions. Prices also rose slightly, by 6%, from $689,900 to $760,000. The average selling time decreased from 66 to 60 days, a reduction of 6 days.

Divided and undivided co-ownerships

Sales of divided and undivided co-ownerships rose dramatically by 52%, from 444 to 675 transactions. The median price also rose, from $445,000 to $465,000, an increase of 4%. Finally, the average sale time rose from 74 to 75 days.

Plexes (2 to 5 units)

The plex market also experienced significant growth of 51%, from 156 to 235. The median price rose from $767,000 to $840,000, an increase of 10%. Finally, the average sale time increased by one day, from 77 to 78 days.

These statistics testify to the dynamism and growth of the Montreal real estate market. If you’re ready to launch your real estate project, don’t hesitate to contact us today to benefit from the expertise of our real estate specialists.

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]]> OACIQ and APCIQ: What’s the Difference Between these Two Key Real Estate Organizations? https://yanicksarrazin.com/en/immobilier/news/oaciq-and-apciq/ Fri, 15 Nov 2024 17:52:09 +0000 https://yanicksarrazin.com/?p=64992 L’APCIQ An association representing the real estate brokerage profession Although they both work in the real estate market, the APCIQ and the OACIQ are two very distinct organizations, with complementary roles and missions that make a significant contribution to the regulation of the real estate sector. To help you distinguish between them, our real estate […]

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L'APCIQ

An association representing the real estate brokerage profession

Although they both work in the real estate market, the APCIQ and the OACIQ are two very distinct organizations, with complementary roles and missions that make a significant contribution to the regulation of the real estate sector. To help you distinguish between them, our real estate brokers present these two little-known associations, which are essential to the smooth operation of the Quebec real estate market.

The Association professionnelle des courtiers immobiliers du Québec (APCIQ) is a non-profit organization that brings together over 15,000 real estate brokers, representing nearly 92% of professionals in Québec. Its primary mission is to support, train, inform and defend its members. Moreover, the APCIQ provides its members with a range of tools and resources aimed at collecting and analyzing relevant information on the real estate sector.

Supervision and development of the real estate brokerage profession

Representing the majority of real estate brokers in Quebec, its members benefit from a wide range of services, including continuing education, market analysis, legal support, and marketing and public relations tools. It also plays a role in promoting and structuring the profession, by implementing initiatives to enhance its image. 

Created by the merger of three real estate boards

Experienced real estate brokers in Montreal remember the APCIQ by its former name, the Greater Montreal Real Estate Board (GMREB). Indeed, the APCIQ, founded in 2019, is the result of the merger of three regional boards: the CIGM, the Chambre immobilière de Québec (CIQ) and the Chambre immobilière des Laurentides (CIL). The aim of this association was to unite real estate brokers under a single provincial associative model. In order to centralize the promotion and protection of the profession.  As mentioned by co-founder Christiane St-Jean, the APCIQ is now in a position to speak with a single voice to better address the various issues facing this function, so that the discourse remains coherent, unique and credible in the eyes of all.

In short, the APCIQ is the body that oversees and supports the professional development of real estate brokers, while actively representing their interests within the real estate sector, in order to guarantee standards-compliant practice and ensure the defense of their rights in a constantly evolving market. In an economy where real estate transactions are becoming increasingly complex, it is crucial that brokers, who accompany their customers throughout the process, can feel protected by a competent entity that understands the challenges of the Quebec real estate market.

L'OACIQ

An organization dedicated to consumer protection

The Organisme d’autoréglementation du courtage immobilier du Québec (OACIQ) plays a crucial role in protecting the public in real estate transactions. As an independent authority, the OACIQ is responsible for regulating and supervising the real estate brokerage profession in Quebec. It scrupulously ensures that real estate brokers comply not only with the laws and regulations in force, but also with the ethical standards established to ensure transparent, ethical and rigorous professional practice. In so doing, the OACIQ guarantees the safety and protection of individuals, whether buyers, sellers or tenants, by ensuring that their interests are always taken into account and defended in every real estate transaction.

Services for the general public

The organization offers a variety of tools, as well as a public assistance service available to both buyers and sellers. On their website, several means of communication are available to reach them. Finally, the OACIQ also requires real estate brokers to contribute to the Fonds d’indemnisation du courtage immobilier and to professional liability insurance, two measures designed to protect consumers.

In short, the APCIQ focuses on representing and supporting real estate brokers in the exercise of their profession, while the OACIQ’s mission is to protect the interests of the public and ensure that brokers’ practices comply with legal standards. Finally, the OACIQ and the APCIQ are two complementary organizations, each with a distinct but essential role to play in the smooth operation of the real estate sector in Quebec.

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]]> Real estate statistics – October 2024: Montreal real estate market in full swing https://yanicksarrazin.com/en/immobilier/seller-information/real-estate-statistics-octobre-2024/ Fri, 08 Nov 2024 13:43:31 +0000 https://yanicksarrazin.com/?p=64729 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 order to observe trends and developments in the Montreal real estate market over the past year. For a clearer and more precise analysis, they chose to separate their observations into […]

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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 order to observe trends and developments in the Montreal real estate market over the past year. For a clearer and more precise analysis, they chose to separate their observations into 3 main property categories: single-family homes, condominiums and plexes (2 to 5 units).

Single-family homes

Sales of single-family homes rose from 288 to 419, an increase of 45%. The average sale price also rose, from $695,000 to $797,750, an increase of 15%. Finally, the average selling time increased slightly, from 51 to 59 days.

Condominiums

Sales in the divided and undivided co-ownership sector were also up, from 537 to 794, an increase of 48%. The average price of condominiums also rose, from $451,000 to $478,950, an increase of 6%. Finally, the average sales time also increased by 5 days, from 57 to 62 days.

Plex (2-5 units)

Plexes represent the smallest increase. We note an increase of 26% compared with October 2023, representing a total of 240 sales rather than 191. In terms of price, there was a 9% increase, meaning that the median price of plexes rose from $775,000 to $845,000. Lastly, the average sales time increased by 10 days, from 57 to 67 days.

In short, the real estate statistics for October 2024 highlight the dynamism of the Montreal real estate market. This momentum is a result of the recent reduction in the key interest rate, announced by the Bank of Canada on October 23, which is stimulating activity in the real estate market. This effervescence is creating numerous opportunities for buyers and sellers alike. If you’re ready to make your project a reality, our real estate brokers are here to help you, whether you’re buying or selling a property.

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]]> Setting up Your Terrace for the Summer Season: 5 Good Tips https://yanicksarrazin.com/en/immobilier/seller-information/real-estate-information-seller-information/setting-up-your-terrace-for-the-summer-season-5-good-tips/ Tue, 09 Jul 2024 17:41:32 +0000 https://yanicksarrazin.com/?p=60220 Setting up Your Terrace for the Summer Season: 5 Good Tips Here we are already in mid-July, a time when the desire to enjoy the outdoors and create a welcoming outdoor space is stronger than ever. For property sellers and buyers, designing a terrace can be a major asset, positively influencing the appeal and value […]

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Setting up Your Terrace for the Summer Season: 5 Good Tips

Here we are already in mid-July, a time when the desire to enjoy the outdoors and create a welcoming outdoor space is stronger than ever. For property sellers and buyers, designing a terrace can be a major asset, positively influencing the appeal and value of a home. Our real estate agents in Montreal offer you 5 insightful tips to optimize this space and turn it into a true relaxation haven.

1. CONSIDERING BUILT-IN FURNITURE

For those with limited space, built-in furniture is an excellent option to maximize available space effectively. Consider installing a bench along one side of your terrace, complete with comfortable cushions and storage space beneath the seats.

2.DO NOT OVERLOOK THE ACCESSORIES

Accessories play a crucial role. Outdoor rugs can delineate distinct areas and add a decorative touch. Consider lanterns, flower pots, candles, or string lights to create a warm ambiance during summer evenings.

3. CREATE DIFFERENT SPACES

Divide your terrace into functional zones to meet different needs. Create a dining area with a table and comfortable chairs for outdoor meals. A seating area with armchairs and a coffee table can be perfect for relaxation and socializing.

4. ILLUMINATE YOUR TERRACE

Outdoor lighting is essential for extending the use of your terrace into late evenings. Choose from a variety of fixtures such as wall sconces, floor lamps, hanging lanterns, or string lights.

5. CREATE SHADED AREAS

If your terrace is not naturally shaded by mature trees, create shaded areas to protect yourself from intense sunlight. Pergolas with climbing plants or adjustable umbrellas are attractive options to create these comfortable spaces.

Finally, we hope these tips will help you create a welcoming and functional summer terrace, perfect for enjoying the outdoor season in Montreal !

A few properties for sale in Montreal

Featured
18
Montréal, Apartment
5022, Rue Garnier, Le Plateau-Mont-Royal (Montréal)
3
1
1922
1001sq/ft

675 000$

Featured
33
Montréal, Apartment
4376, Rue De La Roche, app.200, Le Plateau-Mont-Royal (Montréal)
4
2
1912
2603sq/ft

1 949 000$

Featured
25
Montréal, Apartment
5529, Av. Papineau, app.309, Le Plateau-Mont-Royal (Montréal)
2
1
2012
912sq/ft

679 000$
Buyer Information

The Promise to Purchase for an undivided co-ownership

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

Lire la suite »
18 March 2024
Information Acheteur

Tranquilli-T: A program offered by RE/MAX real estate brokers

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.

Lire la suite »
25 January 2024
Information Acheteur

The conversion of a duplex or triplex (plex) into a cottage (single-family house): a project gaining popularity

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

Lire la suite »
25 January 2024

L’article Setting up Your Terrace for the Summer Season: 5 Good Tips est apparu en premier sur Courtier Immobilier Montréal Yanick E Sarrazin.

]]> 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

Featured
18
Montréal, Apartment
5022, Rue Garnier, Le Plateau-Mont-Royal (Montréal)
3
1
1922
1001sq/ft

675 000$

Featured
33
Montréal, Apartment
4376, Rue De La Roche, app.200, Le Plateau-Mont-Royal (Montréal)
4
2
1912
2603sq/ft

1 949 000$

Featured
25
Montréal, Apartment
5529, Av. Papineau, app.309, Le Plateau-Mont-Royal (Montréal)
2
1
2012
912sq/ft

679 000$

L’article Real Estate Trends: An Overview of the First Quarter of 2024 est apparu en premier sur Courtier Immobilier Montréal Yanick E Sarrazin.

]]> The Plateau-Mont-Royal amends its Zoning By-law (01-277). https://yanicksarrazin.com/en/immobilier/news/the-plateau-mont-royal-amends-its-zoning-by-law-01-277/ Thu, 21 Mar 2024 15:24:59 +0000 https://yanicksarrazin.com/?p=56831 The Plateau-Mont-Royal amends its Zoning By-law (01-277) In the midst of a housing crisis, the Plateau-Mont-Royal borough in Montreal has recently announced the adoption of a draft regulation amending its Urban Planning Regulation (01-277). These measures aim to strengthen the protection of the rental housing stock, in the face of growing pressures exerted by various […]

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The Plateau-Mont-Royal amends its Zoning By-law (01-277)

In the midst of a housing crisis, the Plateau-Mont-Royal borough in Montreal has recently announced the adoption of a draft regulation amending its Urban Planning Regulation (01-277). These measures aim to strengthen the protection of the rental housing stock, in the face of growing pressures exerted by various factors, notably the conversion of plexes into cottages.

Plateau Mont-Royal: The end of plex conversions to cottages ?

Indeed, among the key changes brought about by this draft regulation is the prohibition of changing the use of a dwelling and merging two dwellings in a duplex or triplex. This decision aims to preserve the integrity of residential buildings and prevent the conversion of dwellings into commercial spaces or single-family homes, which could reduce the availability of accessible rental housing.

An important step in this process is the holding of a public consultation assembly, scheduled for April 9th of 2024. This meeting will allow residents, property owners, stakeholders in the real estate sector, and other stakeholders to learn about the proposed changes and share their comments, concerns, and suggestions.

A response to the housing crisis

In conclusion, the new measures to protect the rental housing stock announced by the Plateau-Mont-Royal borough aim to respond in a proactive and strategic manner to the housing crisis.

For more information about this subject, click here.

Sources :

Ville de Montréal 
https://montreal.ca/actualites/le-conseil-darrondissement-du-plateau-mont-royal-du-11-mars-en-bref-66553?fbclid=IwAR3XRG1g2edD6RD5X8GCU5MkzwYSsbrWtmgfNXVDSj8CyS7qy-OL4lw-CkU

A few properties for sale in
Le Plateau-Mont-Royal

Open house
17
Montréal, Apartment
1974, Boul. Rosemont, app.4, Rosemont/La Petite-Patrie (Montréal)
2
1
1992
3026sq/ft

439 000$

43
Montréal, Two or more storey
5800, Av. des Chênes, Rosemont/La Petite-Patrie (Montréal)
3
2
1945
6745sq/ft

1 350 000$

31
Montréal, Two or more storey
6845, Rue Chabot, Rosemont/La Petite-Patrie (Montréal)
5
2
1944
2273sq/ft

1 449 000$

15
Montréal, Apartment
6399A, Rue Cartier, Rosemont/La Petite-Patrie (Montréal)
2
1
1954
1710sq/ft

399 000$

1
Montréal, Vacant lot
5972Z, 2e Avenue, Rosemont/La Petite-Patrie (Montréal)
7658sq/ft

1 395 000$

18
Montréal, Two or more storey
5304, 4e Avenue, Rosemont/La Petite-Patrie (Montréal)
2
2
1910
1179sq/ft

3 150$/month

15
Montréal, Apartment
6399, Rue Cartier, Rosemont/La Petite-Patrie (Montréal)
2
1
1954
1710sq/ft

549 000$

15
Montréal, Apartment
3469, Rue Aylwin, app.B, Rosemont/La Petite-Patrie (Montréal)
1
1
2016
505sq/ft

349 000$

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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

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]]> YE/SARRAZIN ranks 5th at RE/MAX https://yanicksarrazin.com/en/immobilier/buyer-information/real-estate-news-buyer-information/ye-sarrazin-ranks-5th-at-re-max/ Wed, 28 Feb 2024 16:51:01 +0000 https://yanicksarrazin.com/?p=55112 YE/SARRAZIN ranks 5th at RE/MAX A promise of excellence YE/SARRAZIN is proud to announce its remarkable position as the 5th in the RE/MAX ranking in Quebec in 2023. This distinction reflects our unwavering commitment to excellence and our dedication to providing exceptional service to all our clients.  Premier-class real estate expertise With the support of […]

L’article YE/SARRAZIN ranks 5th at RE/MAX est apparu en premier sur Courtier Immobilier Montréal Yanick E Sarrazin.

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YE/SARRAZIN ranks 5th at RE/MAX

A promise of excellence

YE/SARRAZIN is proud to announce its remarkable position as the 5th in the RE/MAX ranking in Quebec in 2023.

This distinction reflects our unwavering commitment to excellence and our dedication to providing exceptional service to all our clients. 

Premier-class real estate expertise

With the support of marketing experts, we are able to implement customized marketing strategies designed to maximize the visibility of your property and attract potential buyers. Our marketing team works innovatively to use the most effective and targeted communication channels, thus presenting your property in the best possible way in the market. 

Finally, our highly qualified administrative staff is here to offer you logistical and organizational support. From managing documents to coordinating visits, we ensure that each step of your real estate transaction runs smoothly and efficiently.

Our real estate brokers warmly thank their clients, partners, and the real estate community for their trust and ongoing support. We look forward to continuing to provide top-quality services within the renowned RE/MAX franchise.

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L’article YE/SARRAZIN ranks 5th at RE/MAX est apparu en premier sur Courtier Immobilier Montréal Yanick E Sarrazin.

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