Purchase

Chronicles

30 Articles

06/05/2024

Establishing the Market Value of a Co-ownership Unit

As the seller will want to receive the best possible price for their unit and the buyer will want to pay a fair purchase price, it is in the interest of both to know its fair market value. Establishing the market value of a co-ownership unit, however, is not a simple task and those buying or selling this type of property need to work with a qualified professional like a real estate broker....

Purchase

08/05/2024

Latent Defects in Co-ownerships: Can They Be Avoided?

Buying a co-ownership property is a big deal! It’s exciting to move into a new home and start making the place your own for your happily ever after. Unfortunately, this purchase can quickly turn into a nightmare if you discover a latent defect in the building after moving in. That’s why it’s important to take certain precautions before buying your co-ownership property. ...

Purchase

25/03/2024

What role does the syndicate of co-owners play in a real estate transaction?

For real estate transactions involving a divided co-ownership, one might assume that the parties only include the seller, the buyer, their respective real estate brokers and the notary who will finalize the transaction at the end of the process. However, the syndicate of co-owners also plays a key role in the transaction. By fulfilling their obligations, the board will allow the promisor to obtain all relevant information to make their decision, and the parties to…...

Purchase

26/02/2024

Why do business with a real estate broker for the sale or purchase of a co-ownership?

Life in a co-ownership has its advantages. First, the cost of buying a co-ownership unit is, on average, less than a single family home. With co-ownership, certain costs—such as maintenance or building repairs—can be divided among the co-owners....

Purchase

17/12/2023

Missing Parking: A Real Estate Broker and a Notary Held Responsible

December 17, 2023 — In a judgment of the Court of Québec, the Honourable Louise Lévesque recalled the respective duties of a real estate broker and a notary during a transaction involving parking spaces in a divided co-ownership. First of all, it should be remembered that the legal status of parking spaces may differ from one co-ownership to another, depending on what the declaration of co-ownership (Constituting act of the co-ownership) provides. These vehicle parking…...

Purchase

01/11/2023

Devenir copropriétaire : l'achat de mon futur condo

L’acquisition d’une propriété constitue l’achat le plus important que nous aurons à effectuer au cours de notre vie. Au fil du temps, le marché immobilier s’est adapté aux modes de vie, aux désirs et aux aspirations des Québécois et Québécoises. En particulier, la création de la copropriété divise, en 1969, a grandement contribué à stimuler l’accès à la propriété. Au cours des cinquante dernières années, ce mode d’habitation s’est développé exponentiellement et il a su…...

Purchase

21/10/2023

Buyer's Guide: What You Need to Know So You Don't Delay the Transaction

October 21, 2023- Buying or selling a condo requires a lot of planning. The dates of signing the transaction and taking possession are an integral part of it. Indeed, a delay in the scheduled date has logistical and monetary implications that can be significant for both buyers and sellers....

Purchase
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04/10/2023

Copropriété divise vs Copropriété indivise

4 octobre 2023- Existe-t-il un écart de valeur entre une copropriété divise et indivise ? Dans le cadre d’un mandat qui nous a été confié, nous avons procédé à une étude visant à déterminer s’il existe un écart potentiel, entre une valeur immobilière détenue en copropriété divise et l’autre en indivise, en regard à sa valeur marchande. Il s’agit ici d’un immeuble à vocation résidentiel de type logement....

Purchase

01/10/2023

Réclamation en copropriété : l’élément dénoncé par le bon intervenant

Quand une problématique survient dans votre habitation neuve, la première chose à faire est d’en informer votre entrepreneur afin que celui-ci intervienne. Toutefois, s’il n’effectue pas les travaux correctifs ou que ceux-ci ne sont pas à votre satisfaction, c’est à ce moment que vous pourrez ouvrir un dossier de réclamation chez GCR. Après analyse du dossier, une décision sera rendue en conciliation. Pour ce faire, GCR se base sur ce qui est prévu dans le Règlement…...

Purchase

01/09/2023

Parties privatives, parties communes? Ce qu’il faut savoir quand on achète un condo

Vous avez acquis ou vous comptez acquérir un condo. Vous voyez alors passer des termes et expressions qui vous sont plus ou moins familiers. Nous allons tenter de démêler le tout afin que vous puissiez y voir plus clair....

Purchase
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