Buying a property
8. Prepare to sign at the notary’s office
The deed of sale is the contract by which the former owner sells you the property and you accept to buy it. Normally, a lawyer prepares the deed of sale and ensures that it is signed by all parties, but in Quebec this is done by a notary. It is at the notary meeting that the sale becomes official.
Here are three documents that the notary will ask you for:
- Proof of identification
- Mortgage loan documents (not the pre-approval)
- The accepted offer to purchase
Ask the notary if you should bring other documents, as well as how he would like to receive them.
The notary will verify:
- Your identity
- The seller’s identity
- The certificate of location
- That all taxes have been paid
- The insurance
- The mortgage deed (the contract authorizing the financial institution granting you the mortgage to seize your home if you do not repay the loan)
After ensuring that everything is in order, the notary will present you with the deed of sale (the official property sale contract). The notary will also make sure that both you and the seller understand the deed of sale, then have both of you sign it.
Usually, the deed of sale takes effect upon signing, so you become owner of your new home immediately. Congratulations! (In some cases, the sale takes effect a few days later. You then become owner on that date. This must be specified in the offer to purchase.)
Normally, the notary meeting is when you receive the keys to your new home. Make sure you get the alarm system code(s), if applicable.
Now all you have to do is take possession of your new property on the specified date and time.
Next step: Take possession (occupancy).