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.
A newly renovated North Hatley home overlooking Lake Massawippi in the Eastern Townships just sold for $1.82 million.
Engel & Volkers
Located at 4090 Magog Road, the two-story building has five bedrooms, three bathrooms, a swimming pool and a double garage. Across the street, a small lot offers its owners access to a dock and the lake.
Gestion MRCB, a Saint-Basile-le-Grand company owned by a man named Marc Boucher, purchased this property in October 2020 from Mario Aubé and Marie-Josée Desrosiers for $1.35 million.
Engel & Volkers
In early 2023, this residence was listed for sale for $2.55 million. Ultimately, it sold for much less, $1.82 million, or 29% ($730,000) less than expected.
At the most recent three-year valuation, this property was assigned a value of $1,126,440, which is 35% more than the previous valuation of $834,400. In 2023, municipal taxes were $10,673.
This sale was exempt from Goods and Services Tax (GST) and Quebec Sales Tax (QST). However, a transfer tax of $45,443 will be added to the purchase price for buyers.
In collaboration with Philippe Langlois, Investigation Bureau
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].