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 home on the shores of Lake Memphremagog in Magog was just sold by its owner for $9.5 million.
The two-storey property is located at Chemin Peasley 130 in Magog and offers 452 square meters of living space on a huge, secluded plot of 7,920 m2. The main building partially encroaches on a 0-20 year flood zone and is not connected to a municipal sewer and aqueduct system.
The sellers, a married couple consisting of Pierre-Yves Ducros and Francine Côté, purchased this property from the Reed family in 2013 for $1,775,000. Extensive work was then carried out.
The sale of the building, which closed for $8,878,617, was accompanied by $621,383 in movable property, bringing the total transaction to $9.5 million.
In the most recent municipal assessment roll, this property was assigned a value of $4,535,900, which is 57% more than three years earlier ($2,888,600). In 2023, municipal taxes for this residence were $32,038.
Added to the purchase price for the buyer is a transfer tax payable to the municipality in the amount of $253,451.
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].