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Purchasing a Property

PME INTER Notaires > Purchasing a Property

Whether you are buying your first or tenth house, our team of real estate notaries is your best ally for a smooth transaction, from the promise to purchase to obtaining the keys to your new property.

Consult our document on the steps of a sale transaction of a house and you will find many answers to your questions.

PROMISE TO PURCHASE

The promise to purchase is the usual document signed by each party prior to the deed of sale. It constitutes a preliminary contract and imposes certain obligations on the parties. Once this document is signed, it becomes difficult to change the terms and conditions or to be relieved from such obligations.

 

Once the promise to purchase is accepted, we invite you to contact a notary of our study to complete the transaction with peace of mind.

PURCHASING A HOUSE

Buying a home is an important step in life and can be stressful. Our team specializing in real estate law is here to help you throughout the transaction and guarantee you clear property titles. By carrying out the appropriate research, the notary specialized in real estate law can indeed guarantee that you will have clear ownership of your property.

 

The title search by the notary consists of checking:

if the seller is the actual owner of the building;

if he has the right and ability to sell;

if his spouse or other people must consent to the sale;

whether the seller holds all legal titles of the property, thus ensuring that you will have no problems when you will want to resell the property.

Finally, through the title search, the notary will be able to detect any charges or real rights likely to affect your right of ownership, such as hypothecs, seizures, judgements and servitudes

 

Using the location certificate, the real estate notary then checks:

if the size and location of the land are accurate;

if the buildings are actually erected on the land sold;

if the house was built in accordance with municipal and zoning by-laws;

if the neighbour’s property encroaches on your land;

if the windows meet the legal standards;

if there are rights of way;

If the land is part of a planned decontamination or of any other form of obligation that may restrict or even compromise its exploitation.

PURCHASING A CONDO

Before signing a promise to purchase a condominium unit (condo), consult our team specializing in co-ownership to help you understand the information that will be presented to you as part of your transaction, namely:

the declaration of co-ownership, which indicates the current rights and prohibitions of the building ;

the financial statements of the co-ownership, to ensure that the reserve fund is sufficient ;

the condominium fees (special and ordinary contributions) ;

the condominium rules ;

the minutes of the annual and special meetings.

Avoid unpleasant surprises and review all these documents with one of our experts before signing anything.

PURCHASING A COTTAGE

Before signing a promise to purchase a cottage, it is imperative to consider all of the following:

Access rights to the land: is the road private or public?

Is part of the riparian zone protected?

Do other owners have access to the riparian strip from your property?

Are there legal restrictions concerning buildings that you may renovate or build on your land?

What kind of access do you have to drinking water?

Are the septic tank and septic field adequate?

Do the fireplace and wood-fired oven meet the current standards?

What are the potential issues identified by an updated location certificate?

How much will it cost to insure this cottage?

Purchasing a cottage is an accessible dream, but the steps to be taken before purchasing it are more numerous than for a town house. Avoid surprises and consult our real estate experts before signing a promise to purchase.

Did you Know ?

  • If you live in another province and own property in Québec, you may face legal complications involving civil and common law, especially in your estate planning. To protect your heirs and avoid unnecessary delays, costs and taxes, contact us today.

PURCHASING A SMALL FARM

Just like when buying a cottage, it is very important to consult a notary before signing a promise to purchase a small farm. Our team specializing in real estate law and agricultural law will advise you on the many legal aspects to consider before making your decision.

 

When they find their dream country estate, many people exceed their purchase budget to the point that they no longer have any leeway. This is a serious mistake because once purchased, a farm will generate expenses such as various repairs, a lawn tractor, etc. It is wise to have a working capital of approximately $15,000 and to do a thorough inspection of the property to determine all the work to be done after the purchase.

 

Another point that should not be overlooked: breaking the lease agreements and rendering null the easements before signing the notarial act. For example, if a neighbour has the right to pump water from your well and the flow is limited, it would be good to terminate this agreement. The same applies if a ten-year contract was concluded with individuals giving them the right to hunt in the woods. It is also important to record the date on which the seller will move his property out of the house and buildings.The seller must also guarantee the good condition of all that is included, such as tractors, heating systems, etc., and show the buyer how to operate them.

 

Before your dream of becoming a gentleman farmer turns into a nightmare, consult our notaries specializing in real estate and agricultural law so they can guide you properly.

PURCHASING A PROPERTY TOGETHER

Nowadays, many couples, whether married or not, decide to buy a property together. It is commonly said that the house “is in both names.” As a precautionary measure, the couple should agree on certain applicable rules in an agreement. Our team will advise you adequately on the scope of such agreement and will write the appropriate document.

Common-law partners are not protected by the family patrimony. The house therefore belongs to both spouses according to their share of investment (their down payment), and both parties are jointly and severally liable to the bank for the mortgage. There are many misconceptions about the rights of the common-law partners in the event of separation or death. Both parties should protect themselves by contract since common-law partners can rarely make a claim based on their union.

 

Consult our team of experts to make sure your rights are adequately protected. Our notaries will inform you on the advisability of preparing an agreement as well as other documents necessary to ensure your full protection (wills and protection mandates).

MARRIED SPOUSES

The principal residence of a married couple is automatically part of the family patrimony. Consult our team specializing in law of persons to learn more about matrimonial regimes (partnership of acquests and separation as to property) and the family patrimony in order to protect your rights. While the family patrimony applies to all married couples living in Québec, couples may choose their matrimonial regime in a marriage contract. In this regard, your notary can give you information about the different regimes and draft a marriage contract based on the chosen one.

For a carefree real estate transaction, consult an expert in real estate law of PME INTER Notaires Gatineau.