Archives des montreal real estate - Courtier Immobilier Montréal Yanick E Sarrazin https://yanicksarrazin.com/en/immobilier/tag/montreal-real-estate/ Plateau Mont-Royal, Outremont, Rosemont La-Petite-Patrie, Mile-End, Ville Marie Tue, 04 Feb 2025 14:53:14 +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 Archives des montreal real estate - Courtier Immobilier Montréal Yanick E Sarrazin https://yanicksarrazin.com/en/immobilier/tag/montreal-real-estate/ 32 32 Rose Cafe | Villeray https://yanicksarrazin.com/en/immobilier/non-classifiee/rose-cafe-villeray/ Fri, 10 May 2024 14:18:01 +0000 https://yanicksarrazin.com/?p=58797 Rose Café – Key Points A Café with Unique Charm in Villeray The Rose Café, located in the vibrant Villeray neighborhood, is a place that doesn’t go unnoticed thanks to its unique facade and interior decor that celebrates sweetness and delicacy. The café’s exterior, with its brightly painted pink facade adorned with the name “ROSE” […]

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Rose Café - Key Points

A Café with Unique Charm in Villeray

The Rose Café, located in the vibrant Villeray neighborhood, is a place that doesn’t go unnoticed thanks to its unique facade and interior decor that celebrates sweetness and delicacy. The café’s exterior, with its brightly painted pink facade adorned with the name “ROSE” in uppercase letters, along with its flower-filled and welcoming terrace, immediately caught the attention of our real estate brokers in Villeray, who are epicureans at heart.

Inside, the decor is an extension of the exterior visual invitation. The café’s ceiling is adorned with an impressive arrangement of artificial roses, creating a suspended garden effect. This unique feature not only beautifies the space but also contributes to a soft and soothing atmosphere, perfect for escaping the everyday hustle and bustle.

Flavors of Italy

The culinary menu of the Rose Café is a true ode to the sunny flavors of Southern Italy. Here, the focaccia sandwiches are generously filled, inviting you on a Mediterranean taste journey. A selection of pastries is also offered to accompany your busy mornings.

When it comes to beverages, the Rose Café doesn’t disappoint. The establishment takes care to select high-quality coffees, offering rich espressos and precisely prepared creamy cappuccinos. Aperitifs, such as the rosé spritz made with pink gin, prosecco, and pink lemonade from @distilleriedemontreal, provide a refreshing and aesthetically pleasing option.

Take a cue from our real estate brokers in Villeray and pay them a visit on your next stroll through this bustling neighborhood!

The Rose Café is located at 26 Rue Gounod in Montreal.

A few properties for sale in
Villeray

26
Montréal, Apartment
67, Rue De Castelnau O., Villeray/Saint-Michel/Parc-Extension (Montréal)
2
1
2022
72sq/ft

725 000$

30
Montréal, Apartment
8635, Rue Lajeunesse, app.108, Villeray/Saint-Michel/Parc-Extension (Montréal)
2
2
2012
927sq/ft

549 000$

14
Montréal, Apartment
7930, Rue St-Denis, Villeray/Saint-Michel/Parc-Extension (Montréal)
3
1
1923
3354sq/ft

2 300$/month

Check out our neighborhood discoveries!

L’article Rose Cafe | Villeray 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 […]

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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

Consult other real estate articles

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]]> The FHSA or the Tax-Free First Home Savings Account https://yanicksarrazin.com/en/immobilier/news/the-tfsapp-or-the-tax-free-savings-account-for-the-purchase-of-a-first-property/ Fri, 23 Jun 2023 18:23:52 +0000 https://yanicksarrazin.com/?p=26060 The FHSA – Key information Buying a home is an important investment that can lead to one of your best investments for life. There are many potential buyers, but there are also many who are having trouble getting the down payment they need for such a large real estate purchase, especially with rising property prices. […]

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The FHSA - Key information

Buying a home is an important investment that can lead to one of your best investments for life. There are many potential buyers, but there are also many who are having trouble getting the down payment they need for such a large real estate purchase, especially with rising property prices.

Since the last election campaign, the Liberal government, under the leadership of Justin Trudeau, had mentioned the possibility of introducing an RDSP. This registered program would be dedicated to first-time buyers under the age of 40 to help them access their first home. However, the idea of the RDSP was abandoned and replaced by the FHSA or tax-free savings account for first-time home buyers. The FHSA would be in place as of April 2023 and has certain features. 

The FHSA : what does it consist of?

The Tax-Free First Home Savings Account (FHSA) is designed to help first-time buyers save for their down payment. The main idea is to help young people become homeowners through the housing frenzy. The FHSA combines a variety of TFSA (tax-free savings account) and RRSP (registered retirement savings plan) benefits. 

In this form of savings, an individual can contribute up to a maximum of $8,000 per year, for a maximum accumulation of $40,000. These contributions are tax-free and the accumulated income is tax-free, so there is nothing to pay back over the years. Withdrawals from the purchase of a property are then also non-taxable.

Its eligibility criteria

In order to access and benefit from the TFSAPP, certain eligibility criteria must be met:

-You must be a Canadian citizen and resident 18 years of age or older.

-There is no maximum age limit for opening an account.

-You must not have acquired a property when opening an account or four years before opening it. It must therefore be a first real estate purchase.

Its characteristics

The FHSA also has certain features:

-The maximum contribution per year is $8,000.

-Unused contributions can be transferred to the following year.

-The maximum FHSA limit is $40,000.

-Like an RRSP, contributions are fully tax deductible. This increases the ability to save. 

-Withdrawals related to the purchase of a property are non-taxable. 

-These non-taxable withdrawals will be used to purchase a single property for life.

-If a withdrawal is made and has a purpose other than the purchase of real estate, the amount of the withdrawal will then be taxable. 

-The HBP (home buyers’ plan) and FHSA can be combined to purchase your first home.

-The money can be invested in a FHSA for up to 15 years or until the age of 71. If this maximum period is reached, the account must be closed and the total amount of the accumulated money transferred to an RRSP. 

–If you want to purchase a property with your spouse, you can combine the accumulated amount of your FHSA with another FHSA account for the down payment.

The FHSA then presents certain constraints, but also significant advantages for a first-time buyer. 

What types of investments can you hold in a FHSA?

Other products will be offered over time. Here are the ones currently known:

-Stocks, options and bonds

-Savings deposits

-Exchange Traded Funds (ETFs)

-Cash

What are the steps when buying a property?

-Have a written agreement to buy in Canada
-Be considered a first buyer (of a first property)
-Make the withdrawal of the CELIAPP 30 days after the purchase of the property, thus following the passage to the notary
-Closure of FHSA must occur on December 31 of the following year of the first eligible withdrawal

What happens if you don’t buy a property?

After the maximum period of 15 years, you have two options. You can withdraw the full amount accumulated in your FHSA, but it will be taxed. The second option is to transfer FHSA amounts to your RRSP or RRIF (Registered Retirement Income Fund) without tax impact without affecting your RRSP contribution room.

How do I open a FHSA account?

The FHSA account is available in the various banks across the country. It’s a simple process to open an account. Make an appointment with your bank advisor, in person at the branch, by phone or virtually.

Available in 2023, the Tax-Free First Home Savings Account (FHSA) is designed to help first-time buyers through the housing frenzy to save for their down payment. The FHSA has many advantages, such as improved ability to save, with fully tax-deductible contributions and non-taxable withdrawals on the purchase of your first home. In addition, the maximum FHSA limit is raised to $40,000, for a maximum annual contribution of $8,000. The FHSA has many advantages for the purchase of your first property.

Consult other real estate news

Questions ? Contact one of our real estate brokers

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]]> End of dual agency: bill 5 https://yanicksarrazin.com/en/immobilier/news/end-of-double-agency-bill-5/ Wed, 24 Aug 2022 22:03:14 +0000 https://yanicksarrazin.com/?p=22225 End of dual agency : bill 5 – Key Information This article was updated on August 24, 2022.  Bill 5 Given the current overheated real estate environment and in the interest of better protecting buyers in a real estate transaction in Quebec, Bill 5 was passed by the National Assembly. This amendment to the Real […]

L’article End of dual agency: bill 5 est apparu en premier sur Courtier Immobilier Montréal Yanick E Sarrazin.

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End of dual agency : bill 5 - Key Information

This article was updated on August 24, 2022. 

Bill 5

Given the current overheated real estate environment and in the interest of better protecting buyers in a real estate transaction in Quebec, Bill 5 was passed by the National Assembly. This amendment to the Real Estate Brokerage Act was adopted on June 10, 2022. Bill 5 involves various tax measures, but also measures related to the real estate market. It prohibits, among other things, the dual agency of a real estate broker with a buyer and a seller for a residential immovable, as well as the verbal brokerage contract. These measures would then avoid a potential conflict of interest.

With the arrival of this new law, many questions arise. What exactly does this law consist of? What are the benefits for buyers? Does it have any exceptions regarding its application? What are the advantages of the brokerage purchase contract for buyers? What is the opinion of our team’s real estate brokers regarding this important change?

Implications of the prohibition of dual agency

As mentioned previously, Bill 5 prohibits a real estate broker from representing a buyer and a seller at the same time in a transaction involving a residential immovable property. A real estate broker is licensed by the Organisme d’autoréglementation du courtage immobilier du Québec (OACIQ). The broker works with his client, must protect his interests and ensure loyalty. Respect for confidential customer information is essential. In a case of dual agency, these obligations cannot always be fulfilled and can give rise to major conflicts of interest, hence the importance of the establishment of this law.

The real estate broker must then represent only one part of the transaction (the buyer/the seller or the tenant/the lessor), thus ensuring a fairer treatment vis-à-vis the buyer.

The prohibition of dual agency is also combined with the prohibition of the verbal purchase brokerage contract. A written purchase brokerage contract must then be established between the buyer and the real estate broker in order to formalize the transaction.

If a case of dual agency occurs, i.e. a real estate broker is bound by a sale brokerage contract and a purchase brokerage contract, he must then notify the buyer in writing as to the termination of the purchase contract. As soon as this writing is sent, the termination of the purchase contract takes effect. The broker will then have to recommend a new real estate broker to this buying client. However, the buying client can choose not to be represented by anyone and make the decision they desire for the rest of the real estate transaction. If this is the case, the real estate broker must grant him fair treatment.

The concept of fair treatment is fundamental here. The real estate broker must inform the unrepresented buyer with objectivity. Indeed, the broker must demonstrate the accuracy of the information transmitted and indicate to the buyer any adverse elements concerning the desired property. However, the representation of the buyer and the defense of his interests are not possible without the signature of the purchase contract. In this case, the real estate broker will work in collaboration with the broker-seller. 

Dual agency exceptions

It should be noted that the OACIQ will establish certain exceptions with regard to compliance with the law of double agency. For example, for certain regions of Quebec that would be underserved, real estate brokers in that region would be authorized to represent buyers and sellers. Additional exceptions are expected in the coming months.

New real estate broker roles in a transaction

Broker-Seller: The broker-seller is the real estate broker who is bound by a Brokerage Sale Contract (BSC) with a seller. Since the broker has a signed contract, he must represent his client’s interests. 

Broker-Buyer: The broker-buyer is the real estate broker who is bound by a Brokerage Purchase Contract with a buyer (BPC). He can therefore represent the buyer and must defend his interests.

Broker-Collaborator: The broker-collaborator is the real estate broker who accompanies the buyer in the transaction, but is not bound by a brokerage purchase contract (BPC). As mentioned above, the broker-collaborator must work in collaboration with the broker-seller and cannot represent the buyer and his interests.

Brokerage purchase contract: what are the benefits for buyers?

Among the new obligations of this law, the brokerage purchase contract became mandatory as of June 10, 2022. In order to formalize the agreement between the buyer and the broker, the purchase contract must be signed by both parties. Signing this type of brokerage contract has many advantages for buyers:

  • Representation: the buyer can be represented by the real estate broker and the latter can defend his interests.
  •  
  • Personalized service: the buyer benefits from the custom search carried out by the broker (such as the creation of a portal of properties to visit). The buyer will also be better protected with regard to his personal information and interests.
  •  
  • Access to comparables: the buyer has access to market comparables obtained by the real estate broker’s expertise and the tools at his disposal.
  •  
  • Advice: The buyer receives advice and recommendations based on their needs and criteria throughout the purchase process. This advice will allow him to have a better knowledge of the situation (for example: are we in a situation of multiple offers) and in the real estate market more generally. 
  •  
  • Negotiation: the buyer is represented by his broker during the negotiation. The real estate broker’s negotiation skills will allow the buyer to acquire the desired property at a fair price and to stand out in multiple offers. 
  •  
  • Writing the promise to purchase: the buyer is advised by the broker on the conditions and clauses to be added to the promise to purchase in order to be further protected and distinguished. 

Dual agency exceptions

The OACIQ has established certain exceptions regarding compliance with the dual agency law.

-For certain areas of Quebec that would be underserved, real estate brokers in that area would be allowed to represent buyers and sellers. 

-A seller and a buyer can be represented by two brokers from the same real estate agency.

-For residential buildings with more than 5 units and commercial buildings, the brokerage purchase contract is not mandatory. The end of dual agency does not apply here. 

Summary

Bill 5 was adopted by the National Assembly and involves changes to the law on real estate brokerage. These changes have been in effect since June 10, 2022. Among other measures, this new law prohibits the dual agency of a real estate broker with a buyer and a seller for a residential building. It also indicates that in order to formalize a transaction, a written brokerage purchase contract must be established between the two parties. Certain exceptions to this dual agency will be granted, such as in small regions of Quebec where there is a deficit of real estate brokers. It also states that in order to formalize a transaction, a written brokerage purchase contract must be established between the two parties. With the mandatory purchase brokerage contract, this reduces potential conflicts of interest that can arise when a real estate broker represents a buyer at the same time as a seller. In addition, this provides additional protection to the buyer, strengthens the relationship of trust and loyalty between the two parties. 

*The use of the pronoun “He” was used to lighten up the text.

Questions? Contact one of our real estate brokers to enlighten you on the subject

L’article End of dual agency: bill 5 est apparu en premier sur Courtier Immobilier Montréal Yanick E Sarrazin.

]]> Plateau Mont-Royal | 4242 Boyer Street, unique multi-level house https://yanicksarrazin.com/en/immobilier/properties-for-sell/plateau-mont-royal-4242-boyer-street-unique-multi-level-house/ Thu, 21 Apr 2022 20:50:13 +0000 https://yanicksarrazin.com/?p=26597 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 […]

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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!

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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)

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Contact us

Looking for a property in Montreal? Contact one of our real estate brokers

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]]> The Real Estate Broker’s Assistant: Understanding her/his role https://yanicksarrazin.com/en/immobilier/real-estate-information/assistant-real-estate-broker-understand-her-role/ Tue, 29 Mar 2022 16:28:40 +0000 https://yanicksarrazin.com/?p=25475 The real estate assistant : understanding the profesion – Key informations The real estate broker has well known responsibilities and tasks. However, he or she can be accompanied and work closely with an assistant who has a central role in the real estate transaction, but whose tasks are often unknown. How is an assistant essential […]

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The real estate assistant : understanding the profesion - Key informations

The real estate broker has well known responsibilities and tasks. However, he or she can be accompanied and work closely with an assistant who has a central role in the real estate transaction, but whose tasks are often unknown. How is an assistant essential in a real estate team?

Administration & management

The Real Estate Broker’s Assistant will take care of various administrative and management tasks for the real estate brokers on the team. In fact, with the collaboration of the real estate broker, the assistant will assemble the various client files and ensure the conformity of the documents received during the real estate transaction process. This is an important step since the documents must be completed according to the real estate brokerage law. 

Updating client databases and preparing information for market analysis are also among the many tasks associated with the Broker Assistant job.

Transaction

The work of a Real Estate Broker’s Assistant also involves composing and preparing communications necessary for transactions, as well as managing calls and information requests from prospects and clients. The assistant may contact sellers and buyers to pass on the necessary information to the real estate broker. During the marketing of properties, the Real Estate Broker Assistant will work with the broker to ensure that the real estate transaction runs smoothly.

Formation

In order to become a Broker’s Assistant, it is recommended to have knowledge in real estate and to be passionate about this field. Training is also available to learn more about the lexicon of real estate in Quebec and the various Centris computer tools to know (Immocontact, Matrix, Prospect, Instanet Forms, Saisie), Ezmax and EZSign.

The organisme d’autoréglementation du courtage immobilier du Québec (OACIQ) is the authority on real estate brokerage in Quebec. It is an important resource that has a lot of relevant information to know and can be very useful for the training of a broker’s assistant.

Organizational skills

As mentioned earlier, the real estate assistant plays a fundamental and important role in a real estate team. She must have a sharp sense of organization and outstanding customer service. The ability to manage numerous files at the same time, as well as a high level of professional rigor, must also be part of their skills.

The real estate broker’s assistant must therefore be in perfect synergy with the real estate broker, as she follows everything the broker undertakes at each step of the real estate transaction process. The broker’s assistant is therefore a fundamental pillar for the real estate brokers on the team.

Our Operations Team

The YE/SARRAZIN Team is fortunate to be surrounded by several real estate broker assistants who also hold their real estate broker’s licenses. Thus, our operations team has a wide range of real estate knowledge. This diversity of knowledge and skills brings a lot of rigor to the team’s files.

The Real Estate Broker Assistant has very specific tasks and follows the brokers in the administration and management of the various client files. Her tasks are numerous, ranging from updating client files, writing various communications to making calls with sellers or buyers during the real estate transaction. There is no specific training to become a broker’s assistant. However, a basic knowledge of real estate and a passion for this field are required. A strong sense of organization and unparalleled customer service are also qualities to have for a real estate broker’s assistant.

Meet our administrative team members

Contact one of our real estate brokers

See more real estate news

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]]> Divided and undivided co-ownership: how to differentiate them? https://yanicksarrazin.com/en/immobilier/real-estate-news/divided-and-undivided-co-ownership-how-to-differentiate-them/ Wed, 22 Sep 2021 19:14:24 +0000 https://yanicksarrazin.com/?p=20142 Buying a property is an important step in anyone’s life. There are different types of properties on the market, including single-family homes, plexes (duplexes, triplexes), cottages or second homes and condominiums. Condominiums are increasingly popular, particularly in the city of Montreal. However, it is important to know the different nuances of co-ownership in order to […]

L’article Divided and undivided co-ownership: how to differentiate them? est apparu en premier sur Courtier Immobilier Montréal Yanick E Sarrazin.

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Buying a property is an important step in anyone’s life. There are different types of properties on the market, including single-family homes, plexes (duplexes, triplexes), cottages or second homes and condominiums. Condominiums are increasingly popular, particularly in the city of Montreal. However, it is important to know the different nuances of co-ownership in order to make a wise choice during the process of finding or buying your property in Montreal.

What is a co-ownership?

A co-ownership is the sharing of a common good by several owners, hence the use of the prefix “co”. This therefore means that there is a common sharing of places (balconies, stairs, courtyards) between the co-owners and a private space (the apartment). There are two types of co-ownership in Montreal: divided co-ownership and undivided co-ownership.

But what are the particularities of these two types of co-ownership?

Divided co-ownership

This type of condominium, also called a ”condominium” is the most popular in Montreal and continues to grow in popularity. According to the Société d’Habitation du Québec, this form of co-ownership is still recent, not having appeared until 1969. It created a certain buzz towards condominiums in Quebec.

In a divided co-ownership, each household owns its own apartment and shares other parts of the building such as the elevator, the swimming pool, the gym, the land, the corridors etc. balcony or terrace. When buying a divided property, the buyer must put down a 5% down payment.

Net area

In the property description sheets, it is the net area that is used. This designates the actual measurement of the private portion.

In addition, the owner of a divided co-ownership will have his own municipal and school tax bill. The same is true for the mortgage. If the owner wants to sell, then he can do so freely, without the advice of the co-owners.

Co-owned syndicate

The divided co-ownership is also supervised by a syndicate of co-ownership which will ensure the respect and the good administration of the building.

Undivided co-ownership

Undivided co-ownership is very different from divided co-ownership. In fact, in an undivided co-ownership, the owners each have a percentage of the building. There are therefore several owners of the same building.

When buying an undivided co-ownership, an important difference with a divided co-ownership is that the owners must give a 20% down payment on the property and be financed by a common bank. This can then narrow the pool of potential buyers.

Gross area

In the property description sheets, it is the gross area that is used. It is calculated by the architectural plans (private part) and includes certain so-called common parts (eg: peripheral walls, support columns, etc.).

In the case of an undivided co-ownership, municipal taxes, school taxes and the mortgage are divided between the owners. Unlike divided co-ownership, the rental of an undivided unit is not accepted. If the owner wants to sell, he will need the approval of the other co-owners.

Joint ownership agreement

Unlike divided co-ownership, there is no syndicate that ensures the proper administration of the building, but an indivision agreement detailing the rights of each and giving details on the management of the building. the undivided co-ownership. The various charges for the maintenance of the building must also be separated between the owners depending on the shares of each. The joint ownership agreement is not mandatory, but is strongly recommended.

Important information

Undivided co-ownership does not allow its co-owners to rent. Indeed, this is a form of protection in favor of the main tenant. In addition, during a real estate transaction with an undivided co-ownership, the right of first refusal must be considered. This right allows, among other things, the co-owners of the undivided co-ownership to buy back the undivided share of the building. The owner can then sell his property to the other co-owners of the building. The price and the various conditions of sale are then presented. The co-owners then have a certain period to make their decision, and if necessary, waive their right of pre-emption and allow a new owner to be part of the joint ownership. However, a buyer of an undivided co-ownership must have received the approval of all the undivided co-owners of the building.

As seen above, divided and undivided co-ownership have major implications and differentiations. When looking for a property, being aware of these implications and knowing the type of condominium you want to buy will help avoid unpleasant surprises and make a more informed choice.

Contact one of our real estate brokers for additional information on divided and undivided co-ownership

Consult other real estate news

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