FAQ

Generally, a financial institutionwill require the applicant to make a down payment of 20 % of the purchase priceof the home. However, it is possible to get a loan with less than a 20% downpayment. Before October 15, 2008, it was even possible to get a mortgage without any down payment. The Government of Québec eliminated this option, inthe context of the brewing American financial crisis. So a minimum down payment of 5% is required

If 20% isn’t available, themortgage will be insured by the Canadian Mortgage and Housing Corporation or byGenworth Financial Canada. An insurance premium of from 0.5% to 2.9% will beadded, as appropriate. This insurance must be paid at the time of the purchase or it will be added to the amount of the mortgage loan.

Absolutely.The New House Warranty from Qualité Habitation (ACQ) covers these buildings :

• Free-standing, attached or rowsingle-family houses (co-owned or not);
• Multifamily buildings from duplexesto five-plexes;
• Multi-family buildings with morethan five apartments owned by a not-for-profit organization or a cooperative ;
• Combustible constructionmulti-family buildings owned in divided co-ownership;
• Multi-family combustibleconstruction buildings owned in divided co-ownership including a maximum offour superimposed private parties.

The ownership transfer iswhen you officially take possession of your townhouse or condo. The documents involvedare usually signed at the office of the notary or lawyer.

Thus, on the day thatownership is transferred :

• Your lender gives the amount of the mortgageloan to your notary or lawyer.
• You give the down payment (less the deposit) to your notary or attorney. You also pay the balance of the closingcosts.
• Your notary or lawyer pays DubéLavoie Construction, registers the property in your name and gives you the deedof sale and the keys to your new property.

Maintenance, repairs and renovations of a home or a condo are part of their owners’ life. You should learn the main components and how to adjust or de-activate them in an emergency.

It is therefore import to regularly inspect your property and replace any worn components or materials. Sincethe Canadian climate can be extreme, you obviously have numerous maintenancetasks to perform on a seasonal basis.

Refer to our Maintenance Guide for more details!

Right now,the condo fees are $50 per month. This amount hasn’t changed for two years. The elected Board does everything it can to keep these fees as low as possible.

The servicesincluded in these fees are lawn-mowing, landscape maintenance of the commonareas and staining balcony railings.

Theco-owned part is the land. Each owner is responsible for his building.

Yes, uponarriving at Domaine Nord Vallée, there will be a onetime $150 fee for theco-ownership reserve fund.

Yes, for the owners of Domaine Nord Vallée and their guests.

Yes, there is a onetime fee of $250, payable when you move in, for the pool reserve fund.

In principle, we need 14 to 16 weeks to complete your home if the structure is already built. We always have a few units whose structure and exterior finishing are already done, and you can choose from among them. We can, incertain cases, deliver faster. Everything depends on the demand at the time you buy.

Actually,we would also need a period of at least 14 to 16 weeks to allow us to complete a new model home unit, so we can relocate our sales office.

Absolutely.Our exceptional soundproofing has proven its worth. All the owners who have bought one of our houses will tell you so. You won’t hear your next-door neighbour. If you do hear a noise, it is more than likely to be coming from outside the house, through an open door or window.

Certainly. In fact, it’s an excellent way to keep fit because your trip will take you about 20 to 25 minutes, depending on how fast you walk.

About $2,500per year, more or less.

Yes

No, they are equivalent and/or higher in some areas.