Questions and Answers

Frequently Asked Questions

Q1. How are property taxes assessed?

A1. The value of the property is assessed by MPAC.  Once the value is determined the city will apply the mill rate and the annual property tax will be calculated.

Q2. Do I get to choose a unique unit within the project?

A2. Yes, you can choose any available unit. The process is based on a first come first serve basis.

Q3. Can I take a look at the property and my unit before I go firm on the purchase?

A3.Astute will co-ordinate an open house of each of the property. This allows you to inspect the building. We will, however,  minimize the disturbance to the current tenants. This may or may not include the specific unit you are interested in purchasing.

Q4. Do I need to obtain insurance coverage for my unit or suite?

A4. API will facilitate the necessary insurance to protect the condominium.
We always suggest that the investor acquire and purchase additional insurance to cover liability, chattels, upgrades and rental loss due to fire, flood, etc.

Q5. Can I view the appraisal report for my unit?

A5. Yes, by making arrangements ahead of time, we will review the appraisal of a typical unit.

Q6. How is the purchase price of each unit determined?

A6. We hire an independent property appraiser to evaluate each unit and the property as a whole. These appraisals are available for your review. This process provides for an object approach to determining the  purchase price of each unit based on current  market conditions.

Q7. How are the estimated rent collection numbers derived?

A7. This is based on an average from the actual rent roll.

Q8. Can I use my own mortgage broker or lawyer?

A8. Yes, you do not have to use our service providers. By using our suggested partners, we are able to provide the lowest cost in facilitating a particular service to you. We have negotiated discounted rates to help maximize your investment dollars!

Q9. When are the closing documents received?

A9.Your package will be received with 45 days of your closing date. A complete package will be created for you with all information regarding the sale.