After reaching an agreement on the conditions of sale with a builder or developer, you will be asked to sign a preliminary contract.
It is compulsory only in the case of the sale of a dwelling to be occupied by an individual, It is not compulsory for a sale to a company. The preliminary contract precedes the purchase of any new or to be built property. Existing condos are generally the object of an offer to purchase. You must use it, irrespective of the fact that a real-estate broker is involved (or not) in the transaction.
You will find, hereunder, directives concerning the undertakings, provisions, and essential terms and conditions to include (or to consider) when preparing a preliminary contract.
|Back to the factsheets|