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BUYER

Advice for Buyers

Determine Your Individual Needs

The reasons for buying a property vary widely from one person to another. It is therefore extremely important to discuss your individual needs with your real estate broker before visiting a property.

Before making an appointment with your real estate broker, draw up a list of features you deem important and determine your individual needs such as locality, price, type of property, number of bedrooms, surroundings, public utilities, and so on.

Check with your financial institution to find out how much you can afford to carry as a mortgage and have the loan amount preauthorized.

Talk to a RE/MAX Broker

Once you have analyzed your individual needs, talk to your neighbourhood RE/MAX broker. If you are moving out of the area in which you currently reside, your local broker will be able to refer you to a professional RE/MAX broker in the area of interest to you.

If you do not know a local RE/MAX broker, click here to find the closest agency to your home or to the desired location. They will refer you to a broker, without any obligation from your part.

Checklist for Visiting a Property

Here is a checklist to use every time you visit a property. It will assist you in comparing the different properties you visit and help you decide which property is best suited to your needs.

Two-storey house

288 000 $ MLS 12962428

Residential

39 500 $ MLS 11308271

Bungalow on one floor

150 000 $ MLS 10127499

Bungalow on one floor

89 000 $ MLS 27898343

Two-storey house

119 000 $ MLS 18883372

Bungalow on one floor

VENDU MLS 18857326

Residential

45 000 $ MLS 22113949

Residential

45 000 $ MLS 11367676

Bungalow on one floor

110 000 $ MLS 18873338

Duplex

110 000 $ MLS 10021558

Moving Day Checklist

  • Read all meters
  • Lower or turn off heating
  • Turn off all lights
  • Shut and lock all doors, latch all windows
  • Turn over keys to new occupants
  • Have telephone disconnected
  • Take out all garbage

Possible Expenses When Buying a Property

  • Inspection of property by building expert
  • Mortgage arrangements with bank :
  • Prêt conventionnel (20 % de comptant)
  • Conventional loan (20 % cash)
  • Loan insured by CHMC (less than 20 %)

Deposit to accompany Offer to Purchase

  • Possible Expenses When Signing at the Notary
  • Tax redistribution and refunds:
  • Refunds are calculated from the date of the signing of the deed of sale. You are responsible for reimbursing the seller for the number of days paid to date.
  • Municipal taxes
  • School taxes
  • Heating oil tank:
  • The seller is required to have the tank filled on the day of the signing of the deed of sale and submit the invoice to the notary for reimbursement in full by the buyer.
  • CElectricity meter (Hydro Québec):
  • The buyer and the seller must notify Hydro Québec of the date the property is scheduled to change hands, have the meter read, and ensure that all amounts owing are properly allocated.
  • Homeowner insurance:
  • Upon signing of the deed of sale, you must present proof that you have contracted homeowner's insurance in an amount equal to or greater than the mortgage on the property.

Possible Expenses Once the Deed of Sale is Signed

  • Land Transfer or Welcome Tax
    The municipality in which you settle will bill you within four (4) to six (6) months of the signing of the deed of sale in an amount based upon the selling price and scaled as follows:
    • 0.50 % of amounts up to $50,000 • 1.00 % of amounts between $50,000 and $250,000

    Province of Quebec, excluding Montreal:
    • 1.50 % of amounts exceeding $250,000
    Montreal only:
    • 1.50 % of amounts between $250,000 and $500,000 • 2% of amounts exceeding $500,000
  • Moving, painting, interior and exterior decoration, etc.