New Owner's Guide 101

1. Establish selection criteria

To conduct a proper search of property, it must first of all to question needs to be filled. Once the criteria established, the realtor Bouchard Parent Associés is ideal to accompany us throughout the purchase process.

2. The broker: a reliable partner!

Buying a property can be very complex for ordinary mortals. However, with the services of broker Bouchard Parent Associés, you will have the advantage of working with someone you trust, who master the trading and commercial aspects, financial and legal engendered by the acquisition of a home . The realtor Bouchard Parent Associés has a certificate of practice issued by the self-regulatory organization of real estate brokerage in Quebec (OACIQ). It will save you trouble and hassle and will assist you throughout the course.

• Knowledges with the market, the broker Bouchard Parent Associés will be able to find properties that match your needs. It will take appointments for home visits and accompany you;
• You've found the property, that makes you dream and imagine where you already live there? The broker Bouchard Parent Associés will be responsible for drafting the necessary documentation to make an offer to purchase in good and due form;
• In most cases, such as the purchase is conditional on financing and inspection, the broker Bouchard Parent Associés will join you during the site inspection conducted by a Home Inspector
• Funding is approved and the property is compliant? Now you're ready to complete the transaction at the notary!

3. Evaluation and costing

(The amounts are indicative only)

With the purchase of property

• Building Inspection: Approximately 400 to $ 600;
• Assessment fee from the lender or CMHC (usually paid by the lender): 165 at $ 250;
• Pyrite test (by sector): 500 to $ 650;
• Certificate of location (usually paid by the seller): 400 to $ 600;
• Downpayment of 5%;
• Opening the mortgage file to the bank conventional loan equivalent to 20% cash and loan insured by the Canadian Society Mortgage and Housing Corporation (CMHC), representing less than 20% cash.

Upon signing the deed of sale

• Notary fees: 950 $ 1200;
• Adjustment of municipal and school tax: calculated based on the amounts already paid by the seller and your date of possession;
• 9% tax on the CMHC premium is variable depending on the amount of down payment and the percentage of the premium applied (not applicable if the equity is above 20%);
• If necessary, adjustment of fuel for heating, either oil, natural gas, propane and electricity for: according to information from the last filling and consumption of the seller until the date he leave. For electricity, the adjustment will be made according to the data to the meter reading;
• Home insurance: to be effective the day of taking possession;

After signing the deed of sale

• Transfer taxes, called "welcome tax" calculated on the price paid for the purchase or evaluation. The highest price will then be evaluated against the following rates:
• 0,50% of the first 50 000$ ;
• 1% from 50 000 to 250 000$ ;
• 1,5% more than 250 000$

4. New address? Change of personal details!

Here is a checklist that will help your monitoring for changes of coordinates.

List of agencies and departments to contact	Change Made (Check)	Date	Contact person or web link used
Québec change of address: an approach, 6 agencies! Revenu Quebec; Société de l'assurance automobile du Québec (SAAQ) Régie de l'assurance-maladie du Québec (RAMQ) Régie des rentes du Québec (RRQ) Directeur général des élection du Québec (DGEQ) Department of Employment and Social Solidarity
Subscriptions to magazines and newspapers
Canada Revenue Agency
Professional Association
Personal Credit
School board (school taxes)
Insurance companies (auto, home, life, etc.).
Dentist, optometrist, doctor, pharmacist and other professionals
Employer
Schools
Suppliers for heating (natural gas, oil, propane, etc.).
Providers of cellular telephone, cable, Internet, etc..
Financial Institutions
Canada Post (possible redirection of mail)