Thinking of Selling?
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My role is to keep you well informed and protect your interests throughout the marketing and sale of your property. Here’s what you need to know before selling your property.
*Good to Know: If you conduct a real estate transaction without a real estate broker, you will not be protected by the Real Estate Brokerage Act.
Before you sell
- Selling your property can have impacts on your mortgage, such as paying off the mortgage or writing off the mortgage. Paying off the mortgage early may result in a penalty, and writing off a mortgage requires a notary fee.
- When signing the contract of sale, certain documents must be provided, such as:
- Valid Certificate of Location,
- Acknowledgement of Sale,
- All invoices substantiating the performance of work,
- Property, electricity and gas tax bills.
- To protect you, the Seller Declaration form will be completed. This form provides information about the property and will allow the buyer to make an informed decision. It should be filled out to the best of your knowledge and may save you from possible recourse.
Purchase Agreement
- When a buyer is interested in your property, they will fill out a promise to purchase in which certain conditions will be indicated, such as occupancy date, date of deed signing, time for inspection, additional documents, etc… You will be able to either accept the offer if all is well with you, refuse it, or respond with a counteroffer.
- It is possible that you will receive several offers. My role will be to present them to you as soon as possible and notify other buying brokers, as you may receive bonus offers.
Signing the bill of sale
- Once the promise to purchase or counteroffer has been accepted, it will be necessary for the conditions to be met, such as the buyer’s inspection, submission of any requested documentation related to the property, and the buyer’s mortgage financing.
- Then the notary will proceed to verify thetitles of the property (zoning, dimensions, easements, etc…) in order to finally proceed to the signing of the deed of sale. If you are selling to purchase a new property, we will be sure to allow a reasonable time between the deed signing dates of other transactions.
- It is important to plan for the following expenses prior to signing the deed:
- Notary fees in the case of a mortgage cancellation;
- Prepayment of mortgage;
- Rent, in the event that the signing of the deed of sale occurs prior to the buyer’s occupancy;
- Certificate of Location (if required);
- Broker’s fee;
- Moving expenses.
