Qurtuba contribution to the purchase of housing units is 80% of the purchase price, up to $400 000. For housing units whose price exceeds $500 000, it is up to the member to finance the exceeding amount.

The calculation of Qurtuba's maximum contribution is based on the member's account balance, as well as their RRSP/FHSA holdings, as of the date of their last entry on the waiting list.

When submitting the documents for the purchase approval, the member must ensure that he owns Qurtuba shares whose value is equal to his minimum contribution. If the funds allowing the member to reach his minimum contribution are held in an RRSP or FHSA account, he must agree, in writing, to bring the missing funds at least 10 days before the closing date. The commitment must be sent along with a recent RRSP/FHSA statement. With an accepted offer, the member can withdraw their RRSP/FHSA without being taxed under The Home Buyers' Plan (HBP) program.

No, Qurtuba will not give $400,000 for this case. The calculation of Qurtuba's maximum contribution is based on the member's account balance at the time of their last entry onto the waiting list. Therefore, in order for the $40,000 to be considered in the calculation of Qurtuba's maximum contribution, you would need to leave the waiting list and rejoin in a future term.

You can purchase shares at any time; however, Qurtuba's maximum contribution will not be adjusted once your name is added to the waiting list. To ensure that the additional amounts are taken into account, you will need to leave the waiting list and rejoin it in the next quarter.

If your spouse (or any other person) is not a co-holder of the account, they will not be able to withdraw the funds held in their RRSP without paying tax. To be eligible, you will need to add their name to the Qurtuba account (convert it into a joint account) before making your purchase offer. By doing so, both of you will act as authorized representatives of Qurtuba, and both names will appear on the purchase offers. To add another person as a joint account holder, you will need to complete the membership form with both of your information and submit it to Qurtuba along with a copy of each of your identification documents.

The maximum amounts are determined by the federal government. They are currently $60,000 for the RRSP and $40,000 for the FHSA. For two joint members, it will be double ([60,000 + 40,000] x 2 = 200,000$). For more information on this matter, please contact the Canada Revenue Agency or the financial institution managing your account.

As soon as the purchase process has begun, the member concerned must expect to pay the inspection fees for the home for which his purchase offer has been accepted. If the process continues, he will have to pay a home insurance policy for a period of one year and the notary fees (deed of sale + occupancy agreement). He will also have to pay the transfer tax (welcome) once and the municipal and school taxes plus the cost of a home insurance each year.

You can purchase the following types of residences: single-family homes and condos (divided co-ownership). It is not possible to buy income properties, undivided co-ownership properties, or farms.

Qurtuba, as a non-profit organization, does not purchase income properties. The purchase of a duplex by Qurtuba is possible under certain conditions. The purchase, subject to a decision by the Board of Directors (BOD), may be accepted in very exceptional situations, particularly in the case of large families with adult children. The duplex will be occupied by the same family. Thus, an explanatory request must be sent to the members of the BOD, with supporting evidence according to the situation. Please note that, in all cases, it is prohibited to rent a property or part of a property owned by Qurtuba.

No, this is not possible. Qurtuba's housing program only covers the province of Quebec.

To obtain final approval for the purchase of the house, the member must submit the following documents to the cooperative: (1) the accepted conditional offer, (2) the counter-offers (if applicable), (3) the seller's declaration, (4) the certificate of location describing the current condition of the property, (5) the inspection report, (6) the municipal assessment of the property, and (7) the declaration of co-ownership (if it is a condominium). Once these documents are received and reviewed, the cooperative issues a property acquisition approval letter, along with a bank reference letter. The cooperative then designates a notary to schedule the purchase transaction.

Yes, a certificate of location, dated within the last 10 years and describing the current condition of the property, is required. If you are unable to provide such a document, you must provide the certificate of location that is in the seller's possession at the time of the offer acceptance, along with the receipt for the order of the new certificate of location.

Qurtuba accepts the acquisition of properties sold without a legal warranty of quality, provided that the concerned member assumes full responsibility and releases the cooperative from any liability through a notarial certificate. By doing so, the member waives, among other things, their right to sue the cooperative for latent defects and agrees to take sole responsibility for any future issues that may arise with the property.

Yes, this is possible. The payment must be made at least 10 days before the signing of the sale deed for the funds to be considered in the occupancy agreement. After this deadline, it will be considered an ad hoc payment.It should be noted that Qurtubera will not increase its contribution which remains fixed according to the amount of funds held by the member at the time he entered the waiting list.

People who are already property owners and wish to transfer their mortgage to Qurtuba will be listed separately. The eligibility criteria for these members are the same as for first-time buyers. Additionally, they must have held at least six months' worth of shares amounting to a minimum of 5% of the mortgage balance. If the property’s equity exceeds 20% of its value, the member is not required to purchase additional shares. Otherwise, the member must buy more shares to reach the 20% threshold. Members on this list are selected separately.

It is important to note that due to the very high demand for mortgage transfers that Qurtuba has received in recent years, mortgage payments have been suspended in order to give priority to first-time buyer members. The only option currently available is to follow the process as a first-time buyer, that is, join Qurtuba, have a balance of $60,000 and join the waiting list. When your turn comes, Qurtuba will purchase your property and pay the mortgage in full.

First, you'll need to transfer title to the land ito Qurtuba. To do this, you'll need to contact Qurtuba, who will appoint a notary to prepare the transaction. Then, when it's your turn on the waiting list, you'll need to identify a builder to whom you'll give the contract to build the house on the land concerned.

To build a new house, the member must hold sufficient shares to cover all required payments, including the cost of the land, up until the keys are handed over. Qurtuba will then cover the remaining balance in accordance with its contribution regulations at the time of signing the deed.

1. If the member is the owner of the land on which the construction project will be done, the member will have to transfer it to Qurtuba. If the member does not own land, the project price must include the cost of land acquisition.
2. The member solicits bids from builders or research construction projects. The member will forward the bid or project of interest to Qurtuba. Only projects where the majority of the project cost (90% or more) is paid upon completion are accepted.
   
3. Qurtuba performs the necessary checks on the builder (reliability, trustworthiness, project history, etc.). If the builder uses subcontractors, they must have liability insurance.
   
4. If the results of the checks are conclusive, the member will be authorized to sign the pre-contract (preliminary contract) on behalf of Qurtuba.
5. Within days of signing the pre-contract, the member submits the pre-contract for approval (legal deadline of 10 days not to be exceeded). When submitting the documents for the approval, the member must ensure that he owns Qurtuba shares whose value is equal to his minimum contribution. If the funds allowing the member to reach his minimum contribution are held in an RRSP account, he must agree, in writing, to bring the missing funds at least 10 days before the closing date. If the member intends to make down payments to the builder, these amounts will be considered as part of the contribution. Any payment required by the builder prior to the signing of the deed of sale must be honored by the member.
   
6. A conditional approval is issued. Conditions include delivery of the property, receipt of the pre-acceptance inspection report and certificate of location which do not indicate any non-conformities.
   
7. The final approval of the acquisition will be made only upon delivery of the property and following the pre-acceptance inspection to your satisfaction and the receipt of the pre-acceptance inspection report and the certificate of location not mentioning any non-conformity.
   
8. Upon delivery of the property, the price of the property will consider the purchase cost of the land and the cost of the construction project if the land was in the possession of the member. Otherwise, the price of the property will be the cost of the construction project if the land price is included.

1. Appointment with the notary.
   
2. Proof of house insurance.
   
3. Identity documents and the documents and information requested by the designated notary.
   
4. The member occupant will pay notary fee and welcome tax initially and Qurtuba will pay notary fee and welcome tax at the time of house transfer to member occupant.
   
5. Member occupant will be responsible for municipal, school and water taxes. Member occupant will be responsible for house insurance, repairs and maintenance.

The notary is responsible for organizing the appointments for signing the sale deeds and occupancy agreements. The signatures can take place at the same time and therefore, in the presence of a member of the BOD or at different times, all depending on the organization planned by the notary.

Although the concept of an occupant is recognized in the Civil Code, the IT systems of some insurance companies are not adapted to this. However, several companies still provide home insurance policies to Qurtuba members, where the occupant members are the insured, and the cooperative is listed as the mortgage creditor.

Qurtuba has entered into an agreement with the Cooperators group and Allstate. The insurance will be in the member's name, and the designated creditor is Qurtuba (the property owner). Members are therefore encouraged to contact the Cooperators group as a priority by calling 514-697-4141 (extension 577 036) or 1-888-394-4964 and identifying themselves as members of the Takaful group. To contact Allstate, dial 514 619 3144

No, Qurtuba does not participate in the negotiation or submission of a purchase offer. Therefore, in no event shall the Qurtuba be liable, sued and/or held responsible for any direct, indirect, consequential or incidental damages or any other damages whatsoever, whether in connection with the negotiation, submission of an offer to purchase, conclusion of the deed of purchase and/or sale or any other act directly or indirectly related to the acquisition of the property. The Cooperative’s role is limited to financing the property; it does not intervene in the purchase process. Consequently, any fault committed in the process of purchasing the building is entirely attributable to the mandatary to the exclusion of the Cooperative, its employees, its president and its directors.

In view of the foregoing, the Purchasers and their Broker, the Sellers and their Broker and/or any other person involved in the process of acquiring the Property, waive all recourse against Qurtuba. Any recourse against Qurtuba will be declared abusive.