Has anyone purchased a Tour Des Canadiens condo?
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10-30-2012, 11:06 AM
Join Date: Jun 2006
not sure if this was mentioned before but TDC is offering a rare perk that very few quebec developers have offered in the past: theyre allowing "owners" to flip the condo prior to notarize date ie. give up the rights to ownership for a $4k fee prior to putting down the 80% balance left on the condo.
i got one for myself for that very reason. best case scenario, i wait till end of 2015 and offer to sell the buying rights to someone who's dying to get in for a tidy profit off my initial investment of 20% of condo value (no taxes get paid till you sign at the notary). worst case, i notarize (ie. pay the full amount of the condo) and move in or rent out short term.
If any of you saw their prospectus but the same construction company started selling what's now called Maple Leaf Square condos in Toronto in 2005 and they sold for silly prices in the secondary market 1-2 years after delivery. yes, that was toronto and this is montreal but im hard pressed to believe we wont see some kind of solid return here considering the Habs are really the only game in town and TDC is the only officially affiliated property..
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