Forms and contracts
Before you buy or sell a property, why not take a little time to review the OACIQ’s mandatory and recommended forms used by your broker? They will give you a good idea of the main steps involved in a real estate transaction.
Please note that these forms are provided for illustration purposes only and cannot be used for an actual transaction.
When a chartered real estate broker is going to be absent for vacation or for any other reason, he is looking to entrust his operation to a member on whom he can rely. He also wants to do in a way that will be legal and secure for all parties involved.
Many real estate agents are asking whether it is a good idea to let the seller fill out the form Declarations by the Seller of the Immovable (DS) or whether the agent should do it as a matter of course. The ACAIQ recommends that the agent fill out this form with the seller’s assistance.
Contacting the Fonds d’assurance responsabilité professionnelle de l’Association des courtiers et agents immobiliers du Québec (FARCIQ) should be the first reflex of a real estate broker or agent who receives a verbal or written reproach, regardless of the amount involved.
Apart from the risk of explosion due to solvents used in making marijuana oil, or fires caused by electrical malfunctions, a high rate of humidity maintained over long periods is the main cause of damage to a building. High humidity rates cause building materials to rot and moulds to proliferate.
Some real estate brokerage firms offer services in more than one field of practice, for instance residential and commercial and therefore do not specialize only in commercial transactions.
A real estate broker or agent entrusted with the sale of a co-owner’s share in an undivided co-ownership property must know that the other co-owners have the right to exclude a potential buyer.