Mistake to Avoid

Quebec Real Estate

Failing to take the steps to be financially pre-qualified, and having an interest rate guarantee before looking at homes. Knowing how much you can comfortably afford will ensure you are looking in the right price range and prevent you from buying a home that will strain you financially and emotionally. Having an interest rate guarantee will protect you in times of fluctuating rates and ensure that your initial projected payments do not suddenly escalate, resulting in extra interest charges. An experienced REALTOR can help you initiate this process and can also recommend alternative sources of financing. You can benefit of the free mortgage protection as well.

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Invest In Real Estate

Quebec Real Estate
Although second quarter sales decreased slightly by 4 per cent compared to the second quarter of last year, overall year-to-date sales in the province of Que?bec increased by 13 per cent, reported the Que?bec Federation of Real Estate Boards (QFREB). Prices in all categories continued their increase.
“The second quarter decrease in sales is no surprise because the first quarter market
was extremely busy due to consumers getting back into the market after the
recession,” said Michel Beause?jour, FCA, Chief Executive Officer of the QFREB. “The
strong activity at the start of this year contributed to the overall year-to-date increase in
sales of 13 per cent,” he added.
In terms of property categories, condominiums performed well in the second quarter of
the year, registering a 1 per cent increase in sales compared to the same period last
year. Plexes followed with a slight decrease in sales of 3 per cent, while single-family
homes posted a 6 per cent decrease in sales.
As for prices, half of all single-family homes sold across the province in the second
quarter of 2010 were sold at a price higher than $213,000, a 9 per cent increase
compared to the second quarter of last year. The median price of condominiums
reached $196,849, a 9 per cent increase compared to the same period in 2009, while
that of plexes increased by 10 per cent to reach $320,000.
“We’re currently in a seller’s market. This explains why prices continue to increase
despite the decrease in sales in the second quarter,” said Michel Beause?jour.
Source of the article: centris.ca
See also:http://realestateqc.ca/becoming-a-homeowner/
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Should You Use the Seller’s Agent

Quebec Real Estate

One of the best reasons to hire a real estate agent is that the sellers are likely to use their own agent — and you want to keep that agent from taking over the process. In fact, the seller’s agent may pressure you to let him or her represent both of you, in a “dual agency” relationship that primarily benefits the seller. (The less scrupulous sellers’ agents don’t make it clear that they’re working for both people, but if only one agent is involved in your transaction, it’s fair to assume that the agent’s loyalties are with the seller.) It’s better to have your own agent than settle for dual agency.
But sometimes by using the seller’s agent you may be able to negociate more thoards the value of the house!
Buying a home is a major commitment in terms of both time and money. There are many things to consider when purchasing a home, and the services of a realtor can be a big help when navigating this somewhat confusing world.
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Becoming a Homeowner

Quebec Real Estate – Becoming a Homeowner is a great move!

Are you currently renting and thinking about joining the ranks of homeowners? You should know that in addition to providing numerous financial benefits, buying a home will help improve your quality of life. Not only do homeowners enjoy more freedom, they also have a strong feeling of pride, as well as peace of mind. It’s definitely a worthwhile investment!

A Well-Adapted Home

First and foremost, being a homeowner means living in a house that suits your tastes and fits your lifestyle.Is your family growing – do you want a backyard and basement playroom for your children? The purchase of a home can help you benefit from these extra spaces and is also a good long-term investment. Condominiums and plexes offer other benefits: less maintenance in the first case and additional income in the latter.

Building Capital
Paying for a home is a bit like making long-term savings. Instead of paying rent to a landlord, your monthly mortgage payments are used to finance your assets and build capital that you will recover once you finish paying.

A Profitable Investment
Across Canada, the value of real estate investments has increased significantly over the past ten years. In Québec, the median price of a single-family home grew from $110,000 to $186,500 between 2002 and 2009. This 70% increase translates into an average appreciation of 9% per year.

Taking Advantage of Fixed Payments
Tired of rent increases? Unlike tenants who must deal with these fluctuations, as a homeowner, you can enjoy fixed payments for many years and, depending on the type of mortgage you choose, protect yourself against possible interest rate increases.

A New Lifestyle
Unleash your creativity and decorate your house as you wish, without worrying about the restrictions that are imposed on tenants. Any amount invested in decoration or renovation will be for your benefit. Moreover, nobody can make you leave your home, or enter uninvited for inspection or maintenance. (Source of article www.centris.ca)

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Real Property Law

Quebec Real Estate – Real Property Law

Real Property Law is a non-essential branch of Civil Law that is based on the provisions of the Civil Code. Real Property law is the body of rules of law that regulate everything pertaining to immovables. It is also composed of rules arising from what is commonly called statute law, for example agrarian law and environmental law. This document examines the general legal notions applicable to the field of real estate and which are within the realm of Civil Law as contained in the Civil Code of Quebec.

The legal presumptions will vary both in their nature and their effects, depending on whether the property is immovable or not and, beyond the obvious, major nuances will have to be considered.

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Sources of Law

Quebec Real Estate- Sources Of Law

The sources of law can be defined as the medium of drafting and interpreting the law.

The first source that comes to mind is obviously the body of laws or statutes. Statutes are provincial or federal, depending on whether they are passed by the legislature of the federal government, or by that of a provincial government.

A second source of law are rules of law that result from court judgments. These rules of law constitute what is known as case law, or  jurisprudence.

Custom in the legal sense of the word, is also a source of law.

The fourth and final source of law, doctrine, does not really create rules of law.

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Introduction to Quebec Real Estate Law

“Ignorance of the law excuses no man”. This quote from John Seldan expresses the heavy burden that weights on every citizen. No, ignorence of the law is no defence! Unfortunately, trade practices are as complex as they are diverse; it therefore takes a battery of consultants and experts to interpret their subtleties for the customer.

Real property law is now exception. It is enough to completelely confuse the neophyte. The obligation to assist and inform the purchaser of an immovable is therefore incumbent on a number o proffesionals, with varying degrees of intensity.

It is not the role of the real estate agent or broker, nor of the land surveyor or architect, to give legal advise. Nevertheless, these people have privileged relationship with the owners, purchasers and vendors. Inevitably, the question they are asked will exceed the strict limits of their own profound expertise.

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Latent Defects

Quebec Real Estate -Latent Defects-

A latent defect is a defect which makes the immovable unfit for the use for which it was intended or which so diminishes its usefulness that the buyer would not have bought it or paid so high a price if he had been aware of it. The warranty applies to both the property sold and its accessories.

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Why hire a Realtor (Quebec)

Realtor,  Property in Montreal, West Island and Vaudreuil

How do we start working together?

Send me an email(info@realestateqc.ca) about what you’re looking for, or give me a call at 514-609-4826. If you’ve been searching real estate websites (including the MLS Search on this website), send along the reference numbers of houses you’ve found that caught your fancy. Please include a general budget range. I certainly won’t hold you to it, nor only focus on properties at the upper end of your range, but knowing what price range you’re thinking of helps focus my efforts. If you send an email, please include a phone number, as I may want to follow up with you on the phone. Often on the phone, I can get a much better sense of what you’re looking for and what might work for you.From there, I’ll research listings and email some on to you to take a look at. We can discuss what you like and don’t like, and I can give you my opinions on them.

The next step is for us to go out together to look at houses. Because available inventory in many categories may be limited, there may not be that many houses for sale to actually see, but a trip up is still important.

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Quebec Real Estate -Home Inspection-

Property in Quebec -Home Inspection-

Mistake to avoid when buying real estate property in Quebec:

Failing to have the home inspected by a competent home inspection company. Buying a home is a major purchase usually made after spending just half an hour looking at the home. Isn’t it worth ensuring you will not be surprised later with deficiencies costing thousands? Your REALTOR can recommend several reputable companies for you to choose from, and will ensure the appropriate clause is inserted in the offer.

However, a home inspection does not protect you against latent defects! See article:


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