Organization and planning of your real estate transactions

You think about purchasing a real estate property? Whether your choice is for a single family residence, a plex, a condominium, a commercial or industrial building, your notary will be your privileged partner throughout this process.

From your first steps, your notary will advise you on the drafting of your offer to purchase or will examine this one for you.

The offer to purchase will have in particular to identify the seller and the purchaser, describe the real estate property, the sale price, the expected date of the transaction, the necessity or not to prepare a location certificate, etc. Generally it is highly recommended to include in the offer to purchase a clause requiring that an inspection of the building be made to the satisfaction of the purchaser.

Your notary will make the title examination of the real estate property which interests you in order to assure you that each transaction (sale, assignment, declaration of transmission) carried out on this real estate property has been made in accordance with the laws in force at the time of each of these transactions.

Your notary will examine the location certificate in order to verify the conformity of the real estate property which you want to purchase with the municipal regulations in force (side margins and setbacks, zoning, swimming pool, shed, etc.).

In view of preparing your deed of hypothec (also known as deed of mortgage), your financial institution will forward to your notary a mandate containing the instructions to be followed (real estate property to be taken as security, interest rate, term, amortization, etc.). The latter will verify the status of the municipal and school taxes. If appropriate, he will communicate with the previous creditors to obtain the amount of the balance to be repaid and will prepare, if necessary, the discharges for the prior loans.

Your notary will proceed to the preparation and drafting of your deed of hypothec and will receive your signature as well as the one of your financial institution.

Your notary will prepare the deed of sale and will receive the signature of the parties. He will publish the deeds of hypothec and of sale in the land register in order to make them opposable against third parties.

Your notary will follow the same steps if the real estate property which interests you is a second residence or a non-residential building.

Your notary can also prepare for you a declaration of co-ownership or review the one for a co-ownership created before 1994 so that it satisfies the provisions of the Civil Code of Quebec.