Property Selection

Once you have researched the type of properties available in a given region, it is wise to appoint a Real Estate Agent who will facilitate the purchase.

  Choice of Real Estate Agent

  The important factor is to appoint someone who seems to take a particular interest in your purchase endeavour, who is available and responds fairly quickly to e-mails (please take into account time differences), and who thoroughly knows the market.  We recommend you verify the agent's status in terms of licenses through:
 Real Estate Agents Mont Tremblant
scroll to the left upper side of the home page:  click on the Member's Registry where you will be able to type in the family name of the person, including accents.  The status of the Agent will then be revealed to you. 

The under-signed is always available....

IMPORTANT :  Once you have appointed an Agent, there is no point in communicating with others as your Agent has access to ALL listings and therefore can provide whatever information you request on properties other than his own.

Beware of an agent who will only show you properties he and his affiliated office have on hand:  undoubtedly, you need to have someone who has your interests at heart and who will present you with ALL of the properties up for sale.  No matter where the lead comes from, agents are remunerated by whichever office has the listing.  As a buyer, you do not owe the agent a commission (breaking bread together is always an option....)

Additional Properties on the Market

Ask your agent to show you various properties which meet your needs.  The agent can register you free of charge through an automated electronic system which will provide you, on a daily basis, with new opportunities.

Meeting With Your Agent

Your initial meeting will encompass reviewing, on-line, the various properties on the market;  you should also look at recent sales so as to justify asking prices.  We recommend you visit a minimum of 5 to 7 properties which are listed through 2 or 3 different real estate offices.  It is always best to view a property in daylight.  Prior to putting in an offer, return to the chosen property for a second walkthrough.  You may subsequently have it inspected professionally.

(Please refer to the list of professionals in the Tremblant area, i.e. notaries, inspectors, evaluators, surveyors.)

Offer to Purchase

Your agent will have on hand the document to be completed, along with:

• A thorough description of the property (as required by MLS)
• Lot boundaries and/or localization certificate
• Most recent copies of the two taxes
• All pertinent documents, such as the coop rules for a condo

The Offer to Purchase is completed on an official form so as to protect the consumer.  It includes a financing clause.  You are not obligated to sign the Offer immediately as you may wish to have it looked at by a Notary.

• Should certain documents be missing, you may wish to indicate that the Offer is conditional to receiving them within a designated time frame.
• A law was instituted in June 2008 whereby the agent must obtain a proof of your identity.
• You may include a clause indicating that the price offered is conditional on having the property evaluated as well as inspected (average cost for a single dwelling inspection is $500.00).
• If your water provision is through a surface or an artesian well, it is important to have its quality inspected and quantity measured.  The same applies to a septic system.

Do ask your agent how he proposes to present the Offer of Purchase to the owner.  The owner, along with the Seller's and Buyer's agent, should review the Offer before even mentioning price and details to anyone else.  If unable to review in person due to a great distance, a conference call is permissible.

If a counter-proposal ensues with a price other than you originally offered, you need only reply within the specified timeframe if you are interest in pursuing the negotiations.  Otherwise, you may let the time lapse and come back at your leisure.

Appointing a Notary

You will find such a list for the Tremblant area

The notary will review all the documents related to the purchase, will verify that the titles are free of any contingencies, taxes will be brought up to date and he will disburse whatever amounts are owing to obtain a title-free document.   He will then provide a written document of purchase in accordance with both parties's wishes.

Prior to the signing of the deed of sale, the notary must have, in his possession, the total amount of the transaction.  These funds may be transferred through a Canadian bank draft, in-trust, or through a certified bank cheque.  In Quebec, a purchaser is very well protected as the notary will not hand over the funds to the seller until he has verified that the deed has been registered with the Quebec Real Estate Indexing office and that the seller does not owe back-taxes.

Signing of the Deed

Your presence will be requested, on a certain date & time, by the Notary, for the signing of the deed.  Diligently read through the deed to ensure it relates directly to the conditions stipulated in the Offer to Purchase and that the taxes have been adjusted accordingly.

Keys to your new home will be handed over;  however, best you have the locks changed.  A few days later and subsequent to having verified that the title to the property has been registered, monies will then be transferred to the seller.

Key Elements in the Offer to Purchase

The following conditions, if applicable, should be included:

*Conditional Upon:

• An inspection of the premises
• Professional evaluation of the buying price
• In the case of a condo, coop rules and regulations
• Water tests if not provided by the Municipality:  drinkable/debit/chemical compounds
• Septic tank tests:  when not through a municipal sewer system or that it may be antiquated.
• If you suspect any other deficiency- mention it.
• Insist upon a localization certificate produced within the last ten years or in the case of land only, a drawing showing border lines along with zoning rules.
• In the case of a rental unit, a business, a condo bought with the purpose of generating revenues, ensure all past revenues and projections are reviewed by a chartered accountant.

Related Costs

Based on a single dwelling home of $250,000 in Canadian Funds:

Notary fees: 

• approximately $1,500.00 to cover
• the deed and mortgage documents
• the adjustment of municipal taxes to December 31^st;  and to June 30^th for school taxes

Other fees may include:

• $500 for a building inspector
• $400 to $600 for an evaluator
• $60 to $300 for a water test
• $150 to $1,000 for the advice of a chartered accountant

On a one time basis and appx. 2 to 3 months following the purchase, you will receive a Welcome Tax Invoice.  Ex:  On a $250,000 purchase, the Welcome Tax is $2,250;  add 1.5% for a purchase over $250,000

Theft and Fire Insurance:  $800 and higher for non-residents

The purchaser will not be subject to a Real Estate agent's fee (only a good bottle of Bordeaux...)

All of the above costs are approximate and can vary according to the type of property purchased, the sector in which it is located and the circumstances.

Welcome to Tremblant:  a world class destination.