The reasons for buying property vary widely from one person to another. It is therefore extremely important to discuss your individual needs with your real estate agent before visiting a property.
Before making an appointment with your real estate agent, draw up a list of the factors important to you 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.
Here is a checklist to use each time you visit a property. It will help you compare the various properties you visit and more easily come to a decision as to which property is best suited to your needs.
REMEMBER TO NOTIFY CURRENT SERVICE PROVIDERS PRIOR TO MOVING AND TO TAKE ACTION AS REQUIRED WHEN SETTLING INTO YOUR NEW LOCATION
MOVING OUT
MOVING IN
MOVING OUT
MOVING IN
Public Utilities
Professionnals
Electricity
Doctor
Gas
Dentist
Water
Notary
Garbage collection
Broker
Telephone
_____________
Cable television
Heating fuel
______________
MOVING OUT
MOVING IN
MOVING OUT
MOVING IN
Local services and accounts
Insurance
Banks
Life
Finance companies
Accident
Credit cards
Personal property
Diaper service
General public liability
Current accounts
Social
Retail stores
Commercial and professionnal
Milk delivery
Bread delivery
Community services
Laundromat
Schools
Dry cleaner
Libary
Pharmacy
Shoe repair
_______________
MOVING OUT
MOVING IN
MOVING OUT
MOVING IN
Federal Government
Provincial Government
Post office
Health and hospitalization insurance
Veteran's affairs
Quebec pension plan
Income tax office
Vehicle registration
Family allowance
Driver's licence
Old age security
Pension plan
Employment insurance
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
EXPENSES TO ALLOW FOR WHEN BUYING PROPERTY
Prior to signing the deed of sale :
Inspection of property by building expert
· Mortgage arrangements with bank
Conventional loan (25 % cash)
Loan insured by CHMC (less than 25 %)
Deposit to accompany Offer to Purchase
EXPENSES TO ALLOW FOR WHEN SIGNING BEFORE THE NOTARY :
Notary fees
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.
a) Municipal taxes
b) 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.
Electricity 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.
EXPENSES TO ALLOW FOR AFTER HAVING SIGNED THE DEED OF SALE
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 $ 49 999
1.00 % of amounts between $ 50 000 and $ 250 000
1.50 % of amounts over $ 250 000
Moving, painting, interior and exterior decoration, etc.
