The developer needs to make a large investment to build an immovable in co-ownership. Therefore, he will require a deposit at the signing of the preliminary contract. The deposit is your first payment to the vendor. The amount should be proportional to the purchase price of the apartment.
The intervention of the notary is very important when purchasing an apartment in a divided co-ownership. Even though he can get involved at the beginning of a transaction, he usually intervenes after the signing of the offer to purchase or of the preliminary contract.
The notary, in his capacity of public officer:
Warrants the validity of the deed of sale;
Is bound to act objectively and to give legal advice to all the parties (equally to the purchaser and the vendor);
Is bound to a duty of information to the parties, which means he should give the parties relevant advice and information in relation with the deeds signed before him.
18 mars 2010- L’achat ou la vente d’une résidence ou d’un condo requiert une grande planification. Les dates de signature de la transaction et de prise de possession en font partie intégrante. En effet, un retard sur la date prévue entraîne des incidences logistiques et monétaires pouvant être importantes, tant pour les acheteurs que pour les vendeurs.