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Shop for your Downtown Montreal Condo or House with the neighbourhood's Real Estate specialists |
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Q:
HOW DO I BUY A CONDO OR HOUSE IN MONTREAL? As in most places in Canada, the Quebec Real Estate system is based on a seller enlisting the help of a broker to sell his/her property. That broker is called the Listing Broker. He/she will have a contract with the seller to represent his/her interests and promote the property to buyers. This service is rendered in exchange for a commision. That commission is shared (usually evenly) between the sellers broker and the buyers broker. The OACIQ highly recommends that you, as a buyer, find a broker to help represent your interests. The OACIQ is the body that regulates Real Estate law in Quebec. Their mission is to protect the public (not Realtors). As such, we are subject to a strict code of ethics. For more information, you can click here A broker representing a buyer is under the legal and ethical obligation to work his/her client by offering advice, market insight, arranging visits, filling in a promise to purchase (offer), and help you navigate the laws and processes for a real estate transaction here in Quebec. Real Estate broker has professional insurance, experience in Real Estate transactions and, if chosen carefully, extensive knowledge in the area in which his client wishes to purchase. All these services come at no additional cost. Therefore, the next process would be to contact a Real Estate Broker who is knowledgable in the areas, and type of property you are thinking of purchasing. There is a form below that you can fill in if you are interested in using our services specifically. Failing that, you may attempt to find a property withouth the help of a realtor by using either realtor.ca or centris.ca. For more information on the process of buying a property, scroll past the form. |
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Q:
WHAT ARE THE COSTS OF PURCHASING A PROPERTY IN QUEBEC Aside from the purchase price of the property itself, there are three main additional costs for buyers enumerated below in the order in which you should be expected to pay for them following a successful negotiation. 1. Inspection : $500 and $1,200 - Depending on the size and type of property. A condo in a luxury tower doesn't require a long inspection, but a large home or an investment property do. 2. Notary fee : $1800-$2500 - A 'cash' purchase will mean a lower price as it doesn't require that the notary also draft a deed of hypothec (the mortgage agreement). 3. Welcome tax : $5,733 if the property costs $500,000. The welcome tax is approximately1.5% to 2% of whichever is higher between the purchase price or the city evaluation price ( more than 2% for properties over 1 Million dollars) . This varies based on the price of the property as it is an incremental scale. You can get more information by clicking here |
Alexander Kay - Michael Martin
Courtier immobilier - Real Estate Broker
+1.514.979.1976 - +1.514.582.7007
info@downtownrealtyteam.ca
Remax Westmount (Remax Action inc)
1225 Greene Ave
Westmount, Qc