A notary completes the sale of a property in Quebec. The bill of sale, which must be created by the notary, is based on the agreement of buy and sale. Making the transaction official is the only thing left to do when the offer of purchase or counteroffer has been accepted and all requirements have been satisfied. The offer to buy should be executed in duplicate and sent to the notary. The only required legal action in the home-buying process is this one.
The notary is chosen by the buyer. To arrange the meeting to complete the transaction, he or she will get in touch with the seller.
The notary procedures for the seller
- Title exchanges
The transfer of ownership to the buyer will be handled by the notary. The notary will verify that the home was constructed in line with zoning rules and municipal restrictions using the certificate of localization. Additionally, he or she will make sure that the terrain is exactly the right size and that no part of the neighbouring property encroaches on it. Additionally, he or she will confirm that all taxes have been paid and the seller has no outstanding debts about any of the items being transferred.
- Creating the sales bill
The official home purchase is completed at this point. The notary’s job is to clarify the terms and clauses necessary to safeguard both parties’ rights.
- A statement of modifications
The Statement of adjustments verifies the sale price, details the buyer’s obligation to pay the seller, and shows the remaining balance from the initial payment (or deposit) and adjustments.
A check made payable to the notary in trust must be provided by the buyer.
- Adding the transaction to the land register office’s records.
The bill of sale will be deposited by the notary at the land register office to formally identify the buyer as the new owner of the property. The land register makes public all real estate transactions.
The buyer is in charge of selecting the notary when buying an already constructed home.
