Purchasing a home >
Reimbursement of the purchase credit
From time to time, individuals may need to establish an overall picture of their financial situation including their debts, personal loans and assets. This need arises in particular when they plan to sell their property, when they wish to do some financial planning or to obtain additional financing.
The signatories of an Accès Condos Agreement may apply to the SHDM for a statement of account that can be forwarded to the financial institutions concerned. This statement of account is also needed to terminate the Accès Condos Agreement at any time, in which case the part of the increase in value due to the SHDM will be calculated based on an estimated resale price.
Note: The assessment presented in the statement provided by the SHDM is valid for a period of three months from the date of issue. This assessment is offered at no cost to the owners of an accredited Accès Condos unit. The estimated resale price in the statement of account, which is the subject of this request, will be re-evaluated based on the actual sale price, in the event that an offer to purchase is accepted before or during the validity period of the statement of account.
Time for processing and approval: Up to 30 days after receiving all requested documents and information.
The resale of an accredited Accès Condos property involves the termination of the Accès Condos Agreement and the reimbursement of the purchase credit that was granted by the SHDM when you bought your condo. You should recall that the agreement provides for the reimbursement of the purchase credit as well as a percentage of the capital gain realized upon the resale.
To complete the transaction, it is necessary to obtain prior approval of the resale price that will determine the amount of the reimbursement to be made. The amount of the portion of the increase in value to be paid to the SHDM is calculated on the basis of the final resale price.
Time for processing and approval: Up to 30 days after receiving all requested documents and information.
In case of refinancing, individuals may need to change the order of priority of their creditors. This is called a cession of rank. A cession of rank may be requested when refinancing a mortgage, to carry out certain investments or following an arrangement with creditors.
The signatories of an Accès Condos Agreement wishing to make a cession of rank must obtain the prior approval of the SHDM, subject to the following conditions:
If the application is approved, the SHDM must receive the following documents for review and approval prior to the signature of the various stakeholders:
Note: The notary will need to be present in the offices of the SHDM for the signing of the cession of rank deed and notary fees will be borne by the applicant.
Time for processing and approval: Up to 30 days after receiving all requested documents and information.
In some cases, individuals may have to transfer their title of ownership or assign the ownership of their condo without selling it. This can happen, for example, in the case of spouses who are co-owners and who have decided to separate. Note that the assignee will become fully responsible for the terms and conditions of the purchase credit.
The signatories of an Accès Condos Agreement wishing to make a transfer of ownership must obtain the prior approval of the SHDM, subject to the following conditions:
In order to evaluate the application, the SHDM must receive the following documents for review and approval prior to the signature of the various stakeholders:
Note: The notary will need to be present in the offices of the SHDM for the signing of the deed of assignment and notary fees will be borne by the applicant.
Time for processing and approval: Up to 21 days after receiving all requested documents and information.
Form for registering on the list of SHDM suppliers
In accordance with the Act respecting access to documents held by public bodies and the protection of personal information, to which the SHDM is subject as a public body, the supplier consents to the disclosure of his data entered in this registration form.
The SHDM appreciates your interest and thanks you for having filled out this form. By being on our list of suppliers, we will be able, if necessary, to invite you to send us a quotation (bid).
SHDM is under no obligation of any kind to suppliers who fill out the form.
Do you have any purchase-related questions? Email your questions directly to: approvisionnement@shdm.org
At any time, consult our call for tender notices on the SEAO site at www.seao.ca to check whether calls for tender in your area of activity have been posted by SHDM.
In the event of disparity between the amounts produced with this calculator and those of the statement of account produced by the SHDM, the latter has priority.