Hundreds of properties in Quebec change hands every day, most of them without us knowing the exact details. That was before we became interested… Here are the latest transactions that caught our attention.
After more than a year on the market, a residence built near the greens of Le Royal Bromont golf course in the Eastern Townships has just sold for just over 40% less than its initial price was hoped for.
This luxurious residence of 420 square meters is located at 216 Rue de la Couronne in Bromont, on a large isolated plot of 7,431 square meters, bordering a body of water and offering views of the golf course and mountain skiing.
Barsalou-Meunier Team, Sotheby’s Realty
Despite all the advantages, it still took some time to find a buyer. More precisely, more than 18 months. And again, it was only afterwards that the owners agreed to significantly reduce the price.
The owners, a married couple consisting of Noëlline Paquin and Daniel Pelletier, president of Artopex, an office furniture manufacturer, bought this property in 2004 from Complexe Dufferin, now Le Royal Bromont. The transaction was completed at the time for $110,000 including taxes.
Barsalou-Meunier Team, Sotheby’s Realty
In March 2022, the same property – to which a house was added in 2009 – was listed for sale for $4,650,000. Ten months later, in January 2023, the sellers decided to deduct one million dollars from the displayed price; we then ask for $3,650,000.
Ultimately, it took another nine months for a couple to submit a $3.3 million offer that was accepted by the sellers, according to notarized documents viewed. So that’s $1.35 million, or 41% less than the price sellers were hoping for in spring 2022.
At the most recent three-year valuation, this property was assigned a value of $1,969,600. This was a 37% increase from the previous valuation of $1,431,200.
In 2023, municipal taxes were $11,768. For buyers, an $89,843 transfer tax payable to the City of Bromont will be added to the purchase price.
With the contribution of Philippe Langlois.
Excerpted from the Journal’s weekly real estate column. If you hear of an interesting transaction, do not hesitate to share it at [email protected].
Originally posted 2023-11-18 10:16:22.