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Updated almost 5 years ago,
Quebec Down payment Laws
Hey everyone
I am in the process of purchasing a 4 plex in the Montreal area and would like some information. We are looking to put down 10% as a down payment and have my partner occupy one of the units. In order to benefit from the 10% down payment option for owner occupied buildings, is there a minimum amount of time that he must live in the apartment or can he move at any time? I would prefer not to kick out existing tenants so would we be able to claim intent to occupy once a unit becomes available? Has anyone done this and can give me more information about the specifics. I cant seem to find the information anywhere.
Thank you so much!!