Real Estate Information - Courtier Immobilier Montréal Yanick E Sarrazin https://yanicksarrazin.com/en/immobilier/category/seller-information/real-estate-information-seller-information/ Plateau Mont-Royal, Outremont, Rosemont La-Petite-Patrie, Mile-End, Ville Marie Fri, 25 Apr 2025 19:22:39 +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 Real Estate Information - Courtier Immobilier Montréal Yanick E Sarrazin https://yanicksarrazin.com/en/immobilier/category/seller-information/real-estate-information-seller-information/ 32 32 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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]]> 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

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

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The Promise to Purchase for an undivided co-ownership

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

Identification of the undivided share

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

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

Description of the undivided property

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

Rules and obligations of co-ownership

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

Access and Use of Common Areas

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

Specific financing conditions

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

Pre-purchase inspection

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

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

Seller's Declarations and Obligations

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

Amount of Down Payment

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

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

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

Explore other real estate information

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]]> Everything you need to know about estate sales https://yanicksarrazin.com/en/immobilier/seller-information/everything-you-need-to-know-about-estate-sales/ Tue, 27 Feb 2024 15:06:29 +0000 https://yanicksarrazin.com/?p=54700 Everything you need to know about estate sales – Key Information You have recently inherited a property and are considering selling it, but you’re wondering what steps to take? In Quebec, the sale of an estate refers to the transfer of real or personal property of a deceased person as part of the settlement of […]

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Everything you need to know about estate sales - Key Information

You have recently inherited a property and are considering selling it, but you’re wondering what steps to take? In Quebec, the sale of an estate refers to the transfer of real or personal property of a deceased person as part of the settlement of their estate. We have collaborated with Jean-Vincent Boggia, a real estate broker at YE/SARRAZIN, to address all your questions on the subject.

What is an estate sale?

An estate, in the legal domain, represents all the property, rights, and obligations of a deceased person. When a person dies, the management and distribution of their property fall to an entity designated according to legal or testamentary provisions in force. This entity, often called the “liquidator” or “executor,” is responsible for handling the financial and legal affairs related to the estate.

In this context, heirs may consider selling a property they have inherited, whether it be a house, divided or undivided co-ownership, income property, cottage, etc.

What are the differences between intestate and testate succession?

Intestate succession occurs when the deceased has not drafted a will or if the will is invalid. The distribution of assets is governed by the intestacy laws in force in the country or state. Heirs are designated according to a priority order established by law, usually direct descendants (children, grandchildren), the surviving spouse, then other relatives based on their degree of kinship. The management of the estate is often entrusted to a liquidator designated by law or chosen by the family.

Testate succession occurs when the deceased has drafted a valid will before their death. The testator explicitly designates the beneficiaries of their assets as well as the liquidator or executor responsible for implementing the provisions of the will. The will may allow the deceased to deviate from the rules of intestate succession and distribute their assets according to their personal wishes, subject to compliance with applicable legal provisions.

How does an estate sale proceed?

An estate sale follows the same process as an ordinary sale but may involve additional steps. For example, heirs or the executor may need to obtain court approval to sell certain assets, especially if there are disputes among heirs or complex issues regarding the assets. Additionally, estate sales typically occur without a legal warranty of quality and are the sole responsibility of the buyer. Indeed, since the estate does not have in-depth knowledge of the property, it prefers to absolve itself of any liability related to potential defects or issues.

Is there tax to be paid on estate property?

In general, if it is the deceased’s primary residence, there will be no taxes on capital gains to pay. However, if the estate property is a secondary residence (cottage or income property), it is subject to tax.

Do renovations need to be done on the property before listing it for sale?

It is not essential to undertake major renovations, but it may be necessary to carry out some minor repairs. Additionally, it is essential to ensure that the property is clean, well-maintained, and that the outdoor landscaping is tidy before listing it for sale.

Does the property need to be emptied before listing it for sale?

Some heirs may consider emptying the property to complete the grieving process. However, it is generally not advisable to empty the house before the sale, as an empty house may not be appealing to potential buyers. If some items clutter the space or are in poor condition, it may be wise to remove or replace them. It is rather recommended to use different sales techniques such as depersonalizing the space and home staging to showcase the property and facilitate its sale.

If the property is vacant, don’t worry, we have the option to virtually stage the rooms.

What are the mandatory documents for an estate sale?

Documents for the sale of a property - Real estate brokers Montreal

The sale of a property involves various mandatory documents. In the case of intestate succession, where there is no will, court authorization is required. For testate succession, the first step involves obtaining a transmission declaration for real estate. Prepared by a notary, this document certifies the transfer of ownership and is registered with the Land Registry of Quebec. Several elements are necessary for its preparation:

-A death certificate;

-A deed of sale to demonstrate that the deceased owned the real estate;

-A location certificate;

-If applicable, a will.

What other advice would you offer to facilitate the purchase of an estate sale?

I strongly advise conducting a thorough inspection when buying a property from an estate, as these houses often remain unoccupied for a certain period. Having remained vacant for an extended period, the property has been exposed to weather conditions and climatic changes without being used, which can lead to various problems.

It is also important to note that insurance companies generally do not cover unoccupied houses, or the insurance premium may be significantly higher for this type of property.

Additionally, since the liquidator or heir is usually not the primary owner of the property and often does not reside there, the information in the seller’s declaration may be limited. Your real estate broker can check the property’s history, advise you to seek experts if needed, and guide you through the purchasing process.

An estate sale requires a precise understanding of legislative processes and documentary requirements, whether intestate or testate. Involving additional steps, it requires careful preparation, especially in terms of documentation and property presentation. A thorough inspection is essential to identify any potential issues, as estate houses often remain unoccupied. Your real estate broker will be there to support you and provide the necessary advice throughout the estate sale process.

Read more real estate information

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]]> Tips for Showcasing Your Property in Photography for a Successful Sale https://yanicksarrazin.com/en/immobilier/seller-information/tips-for-showcasing-your-property-in-photography-for-a-successful-sale/ Tue, 20 Feb 2024 19:26:54 +0000 https://yanicksarrazin.com/?p=54606 Essential tips for showcasing your property – Real estate brokers Montreal – Key Information You have made the decision to sell your property, a choice that marks the beginning of an exciting adventure. After undergoing a thorough evaluation of market value with your real estate broker and signing the Exclusive brokerage contract – Sale, it […]

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Essential tips for showcasing your property - Real estate brokers Montreal - Key Information

You have made the decision to sell your property, a choice that marks the beginning of an exciting adventure. After undergoing a thorough evaluation of market value with your real estate broker and signing the Exclusive brokerage contract – Sale, it is time to showcase your property in a captivating way. Professional photography becomes a crucial step in attracting attention and generating interest from potential buyers. Our real estate brokers share their tips to prepare your property for the photo shoot. But rest assured, a real estate broker from our organization will be present during the photo session to ensure the smooth progress of this stage in marketing your property.

Salon - Courtiers Immobiliers Montréal

1. Depersonalize the Space to allow potential buyers to envision themselves more easily in the house

Remove personal items such as family photos, collectibles, and highly specific decorations. The goal is to allow potential buyers to visualize the property as their future home. A less cluttered space gives an impression of cleanliness and spaciousness, leaving more room for buyers’ imagination.

2.Thoroughly Clean your home

Salle de bain - Courtiers immobiliers Montréal

A clean property is essential for successful real estate photography. Special attention should be given to floors, windows, and surfaces. In the living room, make sure to clean or vacuum rugs and carpets. In the kitchen, focus on appliances and fixtures. The bathroom requires a thorough cleaning of mirrors and grout, while in bedrooms, consider dusting furniture, shelves, and surfaces. For the office, neatly organize documents and other supplies. Finally, in the laundry room, ensure cleaning products are neatly stored and shelves are organized. Each of these steps will contribute to creating an atmosphere of cleanliness and well-being in every corner of your property. Moreover, thanks to your efforts, your property will be ready for future visits!

3. Perform Small Repairs on your property

Before the photo session, ensure that all necessary small repairs are completed. This includes replacing faulty light bulbs, touching up chipped paint, and addressing any other minor issues.

4. Opt for Home Staging to create a positive first impression for potential buyers

Chambre à coucher - Courtiers immobiliers Montréal

Home staging is a set of techniques aimed at enhancing different areas of your home by presenting them attractively. Place cushions and blankets on sofas, rearrange furniture to optimize space, add fresh flower bouquets, light your fireplace, and ensure that sheets and curtains are clean and well-arranged. The goal is to beautify the rooms in the property to evoke a sense of admiration.

5. Maximize the Natural Light in your home

Salle à manger lumineuse - Courtiers Immobiliers Montréal

To maximize natural light, open curtains and blinds. Also, turn on lights in all rooms. Good lighting will make the photos more appealing.

6. Prepare the Outdoor Spaces to capture the interest of potential buyers upon their arrival

Façade - Courtiers immobiliers Montréal

Outdoor spaces are equally important as indoor spaces. It is recommended to conceal trash bins, recycling or compost bins, as these elements could detract from the appeal of the photographs. During the summer, maintain a neatly mowed lawn, eliminate weeds, and conceal hoses and maintenance equipment. In winter, it is advisable to clear snow from steps or the entrance of your property as well as your balconies and terraces. Well-maintained outdoor spaces are photogenic and contribute to showcasing your property brilliantly.

By incorporating these insightful tips, your property will be impeccably prepared for the photography session. Your real estate broker will be by your side, ready to guide you throughout the process and address any questions you may have.

Read more real estate information

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

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Tranquilli-T - Key Points

The Tranquilli-T Program by RE/MAX

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

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

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

Eligibility Criteria

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

The property in question must be:

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

The following properties are excluded :

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

The Four Aspects of Tranquilli-T

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

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

Timelines and Withdrawal

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

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

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

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

Learn more

Death

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

Learn more

Legal Assistance

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

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

Learn more

Small Claims

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

 Learn more

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

Contact our real estate brokers

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

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

A unique real estate project

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

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

Cottage moderne au Plateau Mont-Royal à Montréal

The Plateau-Mont-Royal

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

For more information, click here.

Duplex à Rosemont-La Petite-PAtrie à Montréal

Rosemont-La Petite-Patrie

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

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

Duplex à Villeray à Montréal

Villeray-Saint-Michel-Parc-Extension

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

Maison unifamiliale à Ville-Marie à Montréal

Ville-Marie

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

Le Sud-Ouest

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

Mercier-Hochelaga-Maisonneuve

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

Outremont

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

Côte-des-Neiges-Notre-Dame-de-Grâce

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

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

Facade d'un cottage du Plateau Mont-Royal

Recommendation from our real estate brokers

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

Additional questions?

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

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

Phone: 514.799.9841
Courriel: info@yanicksarrazin.com

L’article The conversion of a duplex or triplex (plex) into a cottage (single-family house): a project gaining popularity est apparu en premier sur Courtier Immobilier Montréal Yanick E Sarrazin.

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

L’article The Promise to Purchase for a divided co-ownership est apparu en premier sur Courtier Immobilier Montréal Yanick E Sarrazin.

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The Promise to Purchase for a divided co-ownership

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

Precise identification of the unit

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

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

Description of common areas

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

Conditions of financing

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

Verification of co-ownership documents

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

Pre-purchase inspection

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

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

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

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

Explore other real estate information

L’article The Promise to Purchase for a divided co-ownership est apparu en premier sur Courtier Immobilier Montréal Yanick E Sarrazin.

]]> The differences between a residential broker and a commercial broker https://yanicksarrazin.com/en/immobilier/montreal-en/the-differences-between-a-residential-broker-and-a-commercial-broker/ Thu, 05 Oct 2023 14:18:43 +0000 https://yanicksarrazin.com/?p=46191 Residential and commercial real estate brokers operate in distinct spheres of real estate, each with distinct responsibilities. To give you an informed view of these differences, our real estate brokerage experts has put together a comprehensive article highlighting the main differences between a residential and a commercial broker. Residential broker Commercial broker Property type A […]

L’article The differences between a residential broker and a commercial broker est apparu en premier sur Courtier Immobilier Montréal Yanick E Sarrazin.

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Residential and commercial real estate brokers operate in distinct spheres of real estate, each with distinct responsibilities. To give you an informed view of these differences, our real estate brokerage experts has put together a comprehensive article highlighting the main differences between a residential and a commercial broker.

Residential broker

Commercial broker

Property type

A residential broker specializes in the sale, purchase and rental of residential real estate, such as single-family homes, apartments, condos, townhouses and income properties with 4 apartments or less.

A commercial broker focuses on commercial real estate, such as offices, commercial buildings, buildings with 5 or more apartments, business premises, land for commercial development, shopping centers and warehouses.

Customer

 The clients of a residential real estate broker are mainly buyers looking for a property for their own personal use, whether as a primary or secondary residence. They also include private individuals wishing to sell their property.

Buyers using a commercial real estate broker are typically institutional investors, corporations, real estate developers, business owners and other professionals seeking real estate for commercial purposes, such as business operations or investment. Sellers putting their property on the market generally have the same profile when using a commercial broker.

Expertise required

Residential brokers hold a residential real estate brokerage license issued by the Organisme d’autoréglementation du courtage immobilier du Québec (OACIQ). They must have in-depth knowledge of the local residential market, neighborhoods, schools, public transportation and market trends to help their clients find the home that best suits their needs and budget.

 Commercial brokers hold a commercial brokerage licence issued by the Organisme d’autoréglementation du courtage immobilier du Québec (OACIQ) or a full licence (residential or commercial). They must also have a thorough understanding of the financial and legal aspects of commercial real estate, as well as expertise in negotiating complex lease, purchase and sale contracts. They must also be able to analyze the real estate market, taking into account factors such as competition, strategic location and leasing policies.

Negociation and strategy

Negotiations in the residential sector often involve emotional and personal factors, such as the design of the house or the ideal location for a family. Residential brokers work to meet their customers’ needs and desires.

Commercial negotiations focus primarily on financial aspects, such as rent, lease terms, rates of return and contractual conditions. Commercial brokers must be able to maximize profitability for their clients.

Transaction process

Residential transactions are often shorter and simpler in terms of documentation and regulations.

Commercial transactions generally involve more complex contracts, in-depth due diligence and more complicated legal aspects, which can prolong the transaction process.

In short, residential brokers and commercial brokers specialize in different areas of real estate and work with different types of customers, each with their own specific responsibilities and skills.

Any questions ? Contact a real estate broker

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L’article The differences between a residential broker and a commercial broker est apparu en premier sur Courtier Immobilier Montréal Yanick E Sarrazin.

]]> Understanding the difference between municipal assessment and market value https://yanicksarrazin.com/en/immobilier/properties-for-sell/understanding-the-difference-between-municipal-assessment-and-market-value/ Thu, 04 May 2023 18:00:30 +0000 https://yanicksarrazin.com/?p=40772 When buying or selling a property, one of the first questions that arises is the selling price of the property. Whether you are a seller or a buyer, there are certain concerns that arise. As a seller, you want to make sure that your home is going to be sold at its fair value based […]

L’article Understanding the difference between municipal assessment and market value est apparu en premier sur Courtier Immobilier Montréal Yanick E Sarrazin.

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When buying or selling a property, one of the first questions that arises is the selling price of the property.

Whether you are a seller or a buyer, there are certain concerns that arise. As a seller, you want to make sure that your home is going to be sold at its fair value based on certain factors. As a buyer, the questions are similar, we want to make sure we pay the right amount without having to pay the extra dollar.

Many buyers and sellers tend to rely on the municipal evaluation to determine the value of a property. Is this the best way to establish the price of a property for sale or for purchase?

Our real estate brokers will try to answer this question in this article.

The distinction between municipal assessment and market value

What is a municipal assessment and how is it calculated ?

As the name implies, a municipal assessment is an estimate of the value of a property made by the municipality in which the property is located, such as the City of Montreal. This assessment is used for the purpose of calculating property taxes and is carried out by certified appraisers, who use public data as well as information from the owners to determine the value of a property.

It is important to note that assessors do not visit every property in a municipality. They use quantitative data and several advanced software programs to perform their evaluations. As a general rule, the value will be calculated in blocks of comparable homes, which means that the price of the property will be estimated based on similar properties in the area. Among the hundreds of factors used by these appraisers are: location, type of property, lot size, living area of the property, year of construction, number of bedrooms and bathrooms, presence of a finished basement and many others.

However, despite the fact that this evaluation is done by professionals in the field, it represents a rough estimate rather than a sure value.

Above all, it is important to know that the municipal assessment is valid as of July 1st, 18 months before the city’s assessment roll comes into effect, and is only reproduced every 3 years.

Thus, it represents a past value and is not current information in the real estate market, which is in constant movement. For example, disruptive factors such as rising property prices, rising interest rates or the onset of a global pandemic can affect the value of this assessment.

The municipal assessment is therefore not the benchmark for setting a sale price for a property, such as a house, an income property or a condominium. As mentioned earlier, its primary use is to calculate the property taxes that owners will have to pay.

Generally speaking, the municipal assessment is lower than the market value. That said, if a property owner feels that their municipal assessment is too high, they can apply for a review within a specified time frame.

So how do you deduct the value of a property? What assessment should you rely on to determine its fair price?

Market value : definitions and factors that influence it

Market value is the most probable price that can be obtained for the sale of a specific property on a specific date, in the context of the current real estate market.

A market value appraisal is performed by licensed appraisers. Our real estate brokers  will conduct a similar market study to determine a selling price based on an estimated market value.

Unlike the municipal evaluation which is done as a mass evaluation in a given area, the market value takes into consideration all aspects of the home, such as its location, condition, size and unique features. The principle of market value therefore guarantees the visit of the property and allows to highlight the improvements and renovations made in the property to estimate the price.

It also takes into account the current trends and constantly fluctuates according to the supply and demand of the real estate market.

The appraiser will also compare the property to other similar properties and to recent sales in the area in order to get a fair approximation of the property’s market value.

Finally, the most important thing to remember about market value is that it takes into account the realities of the current real estate market, unlike the municipal evaluation, which tends to represent a past and inaccurate value, and is therefore not a reliable indicator for setting the sale price of a property.

Using market value to sell your property

The market value, because of its precision of place and time, appears as the most reliable indicator to know the value of your property. Requesting an estimate from a professional can therefore be useful to get an idea of what you could get for your property on the market, if you decide to sell it.

In conclusion, municipal assessment and market value are two different terms that have important implications for homeowners. Understanding the difference between the two can help you make informed financial decisions about your property.

Any questions about municipal assessment or market value ? Contact one of our real estate brokers to find out more.

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L’article Understanding the difference between municipal assessment and market value est apparu en premier sur Courtier Immobilier Montréal Yanick E Sarrazin.

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