18 Jul
Conditions of Acceptance – The Promise to Purchase Deadline

Conditions of Acceptance – The Promise to Purchase Deadline

When you’re ready to make an offer on a property, your real estate broker will help you fill in a Promise to Purchase to present to the seller. In this document, you specify the price you want to pay, any applicable conditions and the deadline for responding. Until this deadline passes, you are legally bound to the price and conditions you presented. If the seller finds your price and conditions satisfactory and signs the Promise to Purchase, then both parties…

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24 Apr
7 Things to do before you buy a home

7 Things to do before you buy a home

Buying a home is a big investment, so make sure you do it right! Here are 7 things you should do before writing an offer on your dream home: Find out what your budget is! Get pre-approved by a mortgage lender. This is a great exercise as it gives you an idea of just how much home you can afford and it forces you to find all the documents you’ll need for the mortgage approval process. If you wait until…

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12 Apr
Why it’s Important to Hire a Professional Building Inspector

Why it’s Important to Hire a Professional Building Inspector

Building inspections Since the dawn of Holmes on Homes and every other real estate related TV show, buyers have started to feel that they are building inspectors. Uncle Joe may have renovated 5 homes in the last 10 years but he is not up to date on codes and local issues. Professional building inspectors inspect 5 to 10 houses a week! I have attended too many inspections to count but I still rely on professional inspectors to advise me. I…

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21 Mar
Accepted offer, Now What Happens?

Accepted offer, Now What Happens?

You just got the call, they accepted your offer! Woohoo! You jump around for a few minutes but when you calm down you need to realise you are on the clock – you have deadlines to meet or you could lose the house to someone else! Inspection Have your home inspected by a professional, not uncle Bob who once renovated a home! Hire an inspector that is approved by the Real Estate Board (OACIQ Organisme d’autoréglementation du courtage immobilier du…

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15 Mar
Conditional offer How does it Work?

Conditional offer How does it Work?

Shopping for a new home before you have sold your first house can be frustrating. You see a house that would be perfect, but you can’t buy before you sell yours. A conditional 72-hour clause in your offer is a solution. Clause R2.1 of a Promise to Purchase states that the Promise to Purchase is conditional to the buyers selling their present home within a time period (30,60 or 90 days usually). They must fulfill all other conditions of the…

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14 Mar
Questions to Ask at Open Houses

Questions to Ask at Open Houses

Open houses are a great way to pack a bunch of home visits in on a Sunday afternoon. It is like window shopping for houses. However, you should go with a list of questions to ask the listing broker if the home interests you. Here are some questions worth asking; Why are they moving? This tells you how motivated they are to sell. When do they want to move? Would they prefer an offer that gives them time to find…

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14 Feb
Quebec Real Estate Practices – Different from the Other Provence’s

Quebec Real Estate Practices – Different from the Other Provence’s

  Quebec has its own set of rules When buying a house in Quebec, the first thing to know is: “You know nothing” (John Snow). Ok, yes, I watch Game of Thrones! Seriously, you don’t know much though! The rest of Canada follows Common Law whereas here in Quebec, we have our own rule book – The Civil Code. Very generally speaking (since I am not a lawyer), Common Law is case law and Civil Law is codified statutes. On…

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