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Are you selling a property?

All the steps in a real estate transaction, from signing the Promise to Purchase to the Deed of Sale, are explained in detail in the PDF document you can download here  Document.

Summary of transaction steps

  1. Receipt of the file from the real estate agent, the documents from your financial institution and your Certificate of Location.
  2. Communication from one of our representatives to obtain your personal information or, if so preferred, forward information form by e-mail for you to complete and return to us.
  3. Drafting of the legal documents for the transaction as such the Deed of Sale.
  4. Communication from one of our representatives, two to ten days prior to the date of possession, for the scheduling the signature of the legal documents involved.
  5. Meeting with the Notary approximating an half hour for the signing of the Deed of Sale, and the Statement of Adjustments and Disbursements, all of which will be explained in detail.
  6. Payment by the Notary of all that is due (real estate agent’s commission, outstanding taxes, surveyor’s fee, mortgage, Notary fees) from the funds received from the buyer. You will receive the net proceeds of the sale two to three business days following the signature of the Deed of Sale.
  7. Forwarding the Deed of Sale, Statement of Adjustments and Disbursements two to three weeks following the closing date.

* Although the buyer is responsible for paying the Notary fee, as the seller, you are responsible for making sure that the property title is free and clear of all financial encumbrances. As such, you are responsible for clearing the mortgage on the sold property. The acquittance will be provided by the Notary handling the transaction and the seller assumes this cost. An acquittance is a document stating that the mortgage on your property has been discharged by the financial institution.

Promise to Purchase

The Promise to Purchase is the most common document signed by all interested parties prior to the Deed of Sale. It is a preliminary contract that imposes obligations on the parties. Once the Promise is signed, it becomes extremely difficult to alter its terms and conditions and withdraw from the obligations thereby contracted.

We encourage you to read Buying a House – The Preliminary Contract. You can download this pamphlet by clicking here  Document. or request one by e-mail at info@pmegatineau.ca

For a worry-free real estate transaction, call us today at 819-771-3231.

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