Quebec Laws Make Transacting Real Estate Safe. Our Troubles We Cause Ourselves
By John Joseph
Quebec Laws Make Transacting Real Estate Safe. Our Troubles We Cause Ourselves In Montreal, Quebec, we have a rigid process for residential property sales governed by the province (ACAIQ) with 7 mandatory forms that cannot be altered at all. That along with a clear process for buyers and sellers to follow from the seller's listing Brokerage Contract to the buyers Promise to Purchase including a form buyers must complete outlining exactly when and how they plan to finance the purchase and clauses on what the rights of the seller are and how to proceed should the buyer not get their financing within the agreed upon delay. The seller must provide full disclosure on their property when listing it. We track the identity of the buyer and seller. We track where the buyer's cash is sourced in ...