You want to acquire a building with residences? It is possible that one asks you to deposit an offer to purchase before you will be able to visit the apartments. Foolish? For a duplex the visits will be relatively simple, even more so if the owner is living in it.
This kind of procedure usually does not apply to duplexes and triplexes.
But is this legal? Yes, usually, a glance at the outside of the building and an attentive examination of the revenue and expenditure as well as the history of the restorations will provide you with sufficient information to conclude from it if you are interested or not. If however the interior makes you change ideas, you can desist and the purchaser will pass to the next offer, a negotiation with the broker can also lead the salesman to make you a counter-proposal.
Reasonably, one can understand an owner of a building of fourteen residences who wishes to sell, or tries to reduce to the maximum the disturbance of his tenants and thus avoid interminable steps of notice of visit. Indeed, the increase in potential purchasers of rental buildings (because of a rise of interest in revenue-creating dwellings) leads sometimes the real-estate agents to receive up to two tens of manifestations of interest on behalf of potential buyers. To try to decide between the serious purchasers and the simply curious, the real-estate broker will then ask for a promise of preliminary purchase. Thus, the less serious purchasers will be eliminated and that will considerably reduce the disturbance of the tenants as well as the time and the steps necessary to the notices of visit.
The increase in the number of potential buyers is explained by a certain reserve on behalf of the investors in the fields of the stock exchange and high-risk investments. The financial turmoil which has swept North America since a few years leads people to want to solidify their investment portfolio, to want to invest in a more stable financial environment. A weak fall of the selling prices of buildings with residences, a 10% fall approximately on the selling price of a 2-5 plex in the metropolitan region according to the Chambre Immobilière du Québec, also explains the rise of the interest for revenue-creating dwellings of the new real-estate customers. One does not buy so much any more to speculate in real estate but to ensure financial security for oneself. There are several types of purchasers but it would seem that the '' baby-boomers '' as well as the young couples tend to turn more and more to the '' plexes '' to become occupying owner and to amortize the price of their principal dwelling allowing themselves that way, for the young couples, inter alia, to gain access to real-estate property.