We receive the buyer's purchase offer and, as a general rule, the seller's documents (deed of sale, mortgage deed, certificate of location, in the case of condominiums, declaration of co-ownership, etc.) and review them.
We will request a statement of municipal and school taxes and, if applicable, copies of contracts for oil supply, hot water tank rental, waste removal, maintenance, snow removal, sprinklers, alarm, pesticides, etc., as well as various statements from Hydro-Québec and Gaz métropolitain. The buyer must obtain the leases, as well as any renewals and modifications to them, all correspondence with existing tenants, and specifically any ongoing requests before the Rental Board. If necessary, we will contact any creditor holding a mortgage on the property to obtain the balance to be repaid. In the case of divided co-ownership, we will send a questionnaire to the secretary of the syndicate of co-owners, requesting a response within five days. This questionnaire covers, among other things, common expenses, amounts accumulated in the contingency fund, possible disputes, and the existence of special assessments.
We will examine the property titles to ensure the buyer that the seller is the rightful owner and has the right to sell the property. The notary will also verify the capacity and identity of the parties. For individuals, the notary will verify, among other things, their marital status and matrimonial regime. For legal entities, we will verify the legal existence of the company, its registration in the appropriate registries, and, if necessary, prepare the necessary regulations and resolutions to proceed with the sale.
It is important, depending on the type of property, to check the applicable laws or regulations for the property: agricultural zoning, cultural property, property located in a protected area, real estate complex, etc. The seller should also request copies of invoices for the most recent repairs and improvements as well as copies of any remaining warranties.
The notary will prepare the deed of sale and obtain the parties' signatures. The deed of sale will include specific clauses, including the assumption of leases and various ongoing contracts. During the transaction, the notary will submit to the parties the statement of apportionments and the disbursement statement of the sale price. The apportionments will also include adjustments for expenses paid in advance (e.g., elevator, cleaning, fuel, alarm, waste removal, concierge, security, etc.) and revenues received in advance (e.g., deposits, rent). Following the signing of the deed of sale, the notary will prepare copies of the deed and ensure its registration in the land registry, paying attention to the possible presence of undesirable adverse entries (legal mortgages, notices of sale for taxes).
Finally, after the deed of sale has been registered without adverse entries, the notary can release the sale price to the seller, less any mortgage to be discharged, if applicable, and certain fees (real estate agent, surveyor, notary).
We invite you to consult a notary who is a member of the Notaire-Direct team because he/she: