Real Estate in Griffintown

Here it is

The Griffintown Condo Buyer Checklist

Centris reports Griffintown inside Le Sud-Ouest. The figures below are sector figures, not building figures. A canal-facing unit in a premium tower and a walk-up on Notre-Dame sit in the same median.

Condo fees: what to ask, not what to expect

Nobody can quote you a fee per square foot that means anything, because the number depends on what the building owns. Ask these instead.

• The current monthly fee and the same fee three years ago. The trend tells you more than the level. A building holding fees flat for three years is usually underfunding something.
• Whether the budget is still the developer's original. In buildings under five years old it often is. First-year budgets are set before anyone knows what the building actually costs to run, and they correct upward after the first full fiscal year.
• What the fee includes. In Griffintown towers, heating, hot water and air conditioning are sometimes central and billed through the fee, sometimes metered to the unit. Two buildings with identical fees can differ by a large amount in what you actually pay each month.
• What the amenities cost to run. A pool, a gym and a 24-hour doorman are the three line items that separate a low-fee building from a high-fee one.

The documents to demand before you sign

Quebec's Bill 16 obliges the syndicate to maintain these. Ask for all of them, in writing, and read them before your inspection condition expires.

1. The contingency fund study (étude du fonds de prévoyance). This is the single most useful document in the pile. It projects what the building will need and when. A building without one, or with one it has ignored, is telling you something.
2. The maintenance logbook (carnet d'entretien). What has been done, and what has been deferred.
3. The declaration of co-ownership and every amendment. Read the restrictions: short-term rental, pets, renovations, and whether your unit's parking is actually yours.
4. Three years of minutes and financial statements. The minutes are where the disputes are. Look for the words infiltration, façade, and special assessment.
5. The insurance certificate and the self-insurance fund. Quebec requires the syndicate to hold a self-insurance fund. Confirm it exists and is funded.
6. Any special assessment voted or under discussion. A vote that has been discussed but not yet passed does not show up in the financials, and it becomes your bill.

Parking, lockers and the thing buyers get wrong

Ask whether your parking space is a separate lot with its own cadastral number, an exclusive-use common portion, or a right of use granted by the syndicate. All three are common in Griffintown and they are not equivalent.

A separate lot you own and can sell. An exclusive-use common portion you control but cannot sell separately from the unit. A right of use can, in some declarations, be reassigned. The difference shows up when you resell, and it is written in the declaration, not in the listing.

If the building is new construction

• GST and QST apply to new construction and are often quoted as included in the price. Confirm which, because the rebate depends on the price and on whether you will live there.
• Occupancy is not ownership. You can take occupancy months before the deed of sale is signed, paying an occupancy fee that builds no equity. Ask for both dates in writing.
• Delivery delays. The contract sets out what happens when the builder is late. Read that clause before you give notice on a lease.
• The guarantee plan (GCR) covers new residential construction. Confirm the building is enrolled and get the certificate.