ANAT (ANNETTE) COHEN
Affiliated Real Estate Agent

5517 Monkland Avenue, Montreal, Quebec H4A 1C8

Cellular: 514-791-1699

Office: 514-481-2126        Fax: 514-481-5340

 

BUYER GUIDE

SELLER GUIDE
LISTINGS
ABOUT ME
RELOCATION
GLOSSARY
CONTACT ME
 

 

Buyer Guide

Buying a home requires extensive technical knowledge.  This is the reason I recommend that you use me for all of your Real Estate needs.

The main function of a Broker or Agent is to act as intermediary in the purchase, sale or rental of an immovable.  He/She plays a prospecting role by finding a home for the buyer, and a client for the seller. 

All Real Estate Brokers and Agents in Quebec must hold a certificate of practice issued by the Association des Courtiers et Agents Immobilier du Quebec. Don't be fooled by persons who claim to be Brokers or Agents who are not licensed, and who do not have the knowledge needed to represent you in the best way possible.

Estimating your maximum mortgage loan:  Most mortgage lenders use two ratios to calculate the maximum loan that can be granted to an owner/occupant. These ratios are known as GDSR and TDSR.

GDSR: Gross Debt Service Ratio; This sets the maximum amount that can be loaned at 32% of the borrower's gross income.

GDSR= (Capital + Interest + Taxes + Heating + 50% of condo fees) ÷ gross annual income

TDSR: Total Debt Service Ratio; This sets the maximum amount that can be loaned at 40% of the borrower's gross income because it also takes into account personal debt.

TDSR= (Capital + Interest + Taxes + Heating + 50% of condo fees + personal debt repayment) ÷ gross annual income.

Your best bet is to have a house that you are interested in, inspected. Your Real Estate Agent should be able to give you a list of a Inspectors for you to choose from.

Elements to verify when looking for your home:

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Check the general state of the house (roof, gutters, siding, paint)

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Is the house energy efficient? Is it well insulated? Are heating costs high?

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How is the air quality and circulation?

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Is the house damp? Are there traces of mildew? If so, check for cracks or water infiltration.

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Do you have any reason to believe that there are structural problems? Stuck windows or uneven floors point to this sort of problem.

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Flush the toilets and check faucets to be sure that there is sufficient pressure.

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This site was last updated 11/19/07