Frequently asked questions
Q
I am interested in one of your projects under development. Can I buy a condo before the project is completed?
A
In fact, it is the best way to proceed. First, you have a greater choice and you also have a say in the finishing touches of your unit.
Q
How can I have access to the rules and regulations of the condominium?
A
At the beginning of project, we have an information note that explains the general operation of the condominium. A comprehensive document titled “Declaration of joint ownership” is given to you at the delivery of the condo.
Q
What is included in the facilities?
A
We refer you to the provisional estimate given at our sales office. This document provides details on the facilities. These elements differ from one project to another.
Q
What is included in the condominium fees?
A
Short-term and long-term maintenance costs of the building, building insurance, and administration of the condominium. By and large, they exclude the finishing touches of your condos, your personal belongings, your furniture, etc.
Q
What is the quality of sound-proofing?
A
Sound-proofing is very important to everyone. To really feel at home, one must be able to live normally. We put a lot of importance in the construction elements that make it possible to achieve this soundproofing quality; elements that are part of monitoring meticulous work.
Q
What is my personal responsibility with respect to the condominium?
A
You are responsible for the material damages that you may cause. However, the insurance policy, which insures your belongings and furniture, usually contains a clause to protect you in such circumstances.
Q
What are the risks of buying a unit in a project under development?
A
Our reputation can surely reassure you. We have built more than 2,000 condo units in Montreal and, as expected, our projects are all subject to a guarantee program which guarantees your deposit up to $35,000.
Q
What are the advantages in buying a unit in a project under development?
A
The undeniable advantage is to be able to benefit from a greater value from the time of the offer to the time of the purchase. Given that our projects are made of concrete, the construction delays can reach one year or sometimes more.
Q
How are condominium fees calculated?
A
They are generally distributed according to the value of the unit in relation to the entire project.
Q
Do we have to do business with the financial institution recommended for the project?
A
We recommend it. Our financial institution is very competitive and offers promotions which we think are interesting. In addition, all the technicalities of the transaction are therefore simplified. Moreover, there is no obligation and you can select the financial institution of your choice. However, considering that each banking institution has its own standards and policies, requires certain specific documents and that, often, the notary must travel several times (signature, remittance of documents), an additional fee of $250 will therefore be billed. Furthermore, in the case of a financing with a financial institution other than our own, any holdbacks other than those already instituted by our notary will not be accepted.
Q
Can we make a conditional purchase offer?
A
In theory, no; depending on the prevailing situation, we prefer to reserve the unit that interests you for a certain period of time under certain conditions.
Q
Can I cancel my preliminary contract?
A
Yes, the promisor-buyer can terminate the preliminary contract within ten (10) days after receiving a written copy of the contract. As compensation, the seller, however, could claim an amount equivalent to 0.5% of the agreed-upon selling price.
Q
Can I choose my notary?
A
No, because the complexity of the project as well as the necessary documents are managed by contractor’s notary. The notary offers competitive fees based on the entire project. Nevertheless, all relevant documents can be examined by the notary of your choice.
