Public articles

August 26, 2019

Property off the market, termination of contract: Concepts not to be confused

If the seller may no longer wish to sell his immovable during the term of an irrevocable exclusive brokerage contract, your broker may, after agreement, put an end to the contract (termination). If there is no agreement, he must take the property off the market.

June 14, 2019

Signing a brokerage contract to sell, purchase or lease an immovable

When the owner of a residential immovable chooses to sell through a real estate broker, he must sign a brokerage contract. The same applies to the buyer if the broker wishes to ask him for compensation and to the lessor concerning lease matters.

June 13, 2019

Brokerage contract: The right to change one's mind

Signing a brokerage contract is an act that should be taken seriously. This is why you may, under certain conditions, terminate any contract signed between you and a real estate broker to sell, buy, lease or exchange a residential property. This is called the right to cancel.

July 03, 2018

New tool for an optimal real estate transaction: The DS – Divided co-ownership form

Since July 1, 2018, future buyers or sellers of divided co-ownership properties have been even better protected with the new form Declarations by the seller of the immovable - Divided co-ownership designed by the OACIQ specifically for this market.

March 20, 2018

Is it possible to cancel a real estate promise to purchase?

This is a common question asked by consumers who contact the information centre Info OACIQ.

November 16, 2017

A report card on a property

The Real Estate Brokerage Act provides for a range of tools to protect your interests. The Declarations by the seller of the immovable form is one of them.

October 11, 2017

What’s an exclusive brokerage contract?

In accordance with the public protection mission entrusted to it by the Real Estate Brokerage Act, the OACIQ has designed brokerage contracts to protect your interests.

June 07, 2017

Inclusions and exclusions as part of a sale

“I just moved in and – surprise! – the beautifully appointed walk-in closet is now an empty space. Should the shelves have been included?"

October 03, 2014

OACIQ forms: For better prevention

To fulfil its public protection mission, the OACIQ published no less than fifty forms. They were designed to provide you with maximum protection, while clearly establishing the terms under which the broker will act.

February 18, 2014

Buyer’s Guide and Seller’s Guide

The OACIQ offers you two new tools to better understand the many steps of a real estate transaction.

Disclosure of a suicide: the Superior Court confirms the usefulness of the declarations by the seller

On November 21, 2013, the Superior Court determined, in Fortin c. Mercier(1) judgment, that the seller of an immovable had the obligation to inform buyers that a violent death had occurred therein.

October 07, 2013

Special requirements on the part of the seller and obligation to present any promise to purchase as soon as possible

Sometimes a seller may have particular requirements regarding the timing for submitting promises to purchase to him regarding an immovable for sale. For example, a seller may want to consider all promises to purchase at the same time, on a predetermined date.

The importance for the parties of clearly understanding the promise to purchase

When drafting the promise to purchase, the real estate broker must discuss each phase of the buying process with the buyer in order to avoid surprises along the way. This step must include an analysis of the buyer’s needs and objectives and an evaluation of his financial capacity. It is up to the broker to ensure that the buyer clearly determines what he is looking for based on his means.

April 08, 2013

Clause 10.5 of the promise to purchase... to ward off unpleasant surprises

Should the buyer or the seller be notified, before the signing of the deed of sale, of any defect or irregularity whatsoever affecting the declarations and obligations of the seller, the buyer has a recourse provided under clause 10.5 of the Promise to purchase form (for the Promise to purchase – Divided co-ownership (PPD) form, it’s under clause 10.7). If the buyer learns that the immovable has a defect or irregularity (e.g. an inground pool encroaching on a Hydro-Québec servitude), he is not bound to purchase the immovable with this irregularity.

Can a promise to purchase be withdrawn?

Take a typical scenario: a broker has a promise to purchase in hand and is preparing to present it to the seller. The phone rings: the buyer informs him that he no longer wants to buy the immovable or present the promise to purchase. What should the broker do?

March 25, 2013

Property Transfer Duties

As indicated in section 2.1 of the Act respecting Duties on Transfers of Immovables, the tax brackets are increased each year according to the Consumer Price Index for Quebec.

Understanding first refusal clause R2.2 of the mandatory form Annex R - Immovable

Clause R2.2 of the mandatory form Annex R – Immovable, the so-called “first refusal", generates a lot of questions from brokers and consumers. In fact, the OACIQ Info Center receives many calls to this effect. Followings are a few clarifications to help understand how it works.

March 22, 2013

Cancellation of a previously accepted promise to purchase

Clause R2.3 of Annex R - Residential immovable allows the seller to accept a new promise to purchase conditional upon the cancellation of a previously accepted promise to purchase.

January 29, 2013

Exclusive brokerage contract: can the broker authorize his client to offer the immovable for sale by himself?

Some owners wishing to sign a brokerage contract ask to be able to market their immovable to find prospective buyers, too.

September 18, 2012

How to use the mandatory form Declarations by the seller of the immovable

The mandatory form Declarations by the seller of the immovable must be used for all transactions involving the sale, by a natural person, of a chiefly residential immovable containing less than 5 dwellings, including immovables held in undivided co-ownership. For any transaction involving a divided co-ownership, brokers must now use the Declaration by the seller of the immovable – Divided co-ownership form.

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