Loan insured by CHMC (Canada Mortgage and Housing Corporation)
(less than 25 % in cash)
when signing the deed of sate
Municipal Tax redistribution and refunds
prorated from the occupancy date to December 31.
School Tax redistribution and refunds
prorated from the occupancy date to June 30.
Heating oil tank
If the property is heated by oil, the seller is required to have the tank filled on the day of the signing of the deed of sale and he must submit the invoice to the notary for full reimbursement by the buyer.
Electricity (Hydro•Quebec) and gas (Gaz Metropolitain) meters
The buyer and the seller must notify Hydro•Quebec and Gaz Metropolitain of the date the property is scheduled to change hands in order to have the meters read on that date and the correct charges allocated to the seller and the buyer at the date of occupancy of the property.
Ex.: Alarm, telephone, cable, Internet, etc.
The buyer has to present proof of homeowner insurance coverage for an amount equivalent or superior to the mortgage on the property.
after signing the deed of sate
Change of ownership or Welcome Tax
The municipality in which you are moving will send you a tax bill within four (4) to 6 (six) months following the signing of the deed of sale. This amount will be based on the sales price and calculated as follows: