What people often ask
How much does a real estate broker cost to sell my home?
The broker's fee is negotiable and set out in the brokerage contract you sign. It is only payable once the property is sold, at the notary's signing, and is usually a percentage of the sale price. We explain everything clearly at our first meeting, with no obligation.
How is the asking price of my property determined?
We prepare a comparative market analysis: recent sales of similar properties in your area, homes currently for sale, and the condition and features of your home. The municipal assessment is not market value. Pricing right from the start attracts more buyers and avoids price reductions.
What is the Seller's Declaration and is it mandatory?
It is an OACIQ form in which the seller describes the property: work done, known issues (water infiltration, foundation, roof, etc.) and other important information. It is mandatory when you sell a residential property with fewer than five units through a broker. Filled out carefully, it protects you as the seller and reassures buyers.
Should I buy before selling, or sell before buying?
Both are possible, depending on your finances and the market. Selling first gives you a clear budget; buying first means you won't miss the right property. Tools such as a promise to purchase conditional on the sale of your home, or a bridge loan, help coordinate both transactions. We help you choose the least risky option.
What is the welcome tax and who pays it?
The welcome tax, or property transfer duties, is paid by the buyer to the municipality, usually a few months after the purchase. It is calculated in brackets on the higher of the price paid and the adjusted municipal assessment value. Use our transfer tax calculator to estimate the amount to plan for in your budget.
Is a pre-purchase inspection mandatory?
It is not mandatory, but it is strongly recommended. A building inspector examines the property's condition and identifies visible issues before the purchase is finalized. The promise to purchase is usually made conditional on a satisfactory inspection, so you can renegotiate or withdraw if a major problem is found.
How much of a down payment do I need to buy a home?
Under current federal rules, the minimum down payment is 5% of the first $500,000 of the price and 10% of the portion between $500,000 and $1.5 million. Above $1.5 million, it is 20%. With less than 20% down, mortgage default insurance is required. Get pre-approved before you start shopping so you know your real budget.
How long does it take to sell a home on the South Shore?
It depends on the area, the type of property, the asking price and the season. A well-prepared home listed at the right price usually sells much faster than an overpriced one. You should then typically plan 30 to 90 days between the accepted promise to purchase and the signing at the notary. We give you a realistic picture for your area at our first meeting.