Definition : Offer to purchase (promise to purchase) - Deposit

An amount paid in advance by the purchaser to the seller or to the acting notary, at the signing of the offer to purchase (promise to purchase) or before the signing of the deed of sale, which shall be deducted from the sale’s price.

Webradio du 19 mai 2021: L'achat et la vente d'un condo

L'article 1068.1 du Code civil du Québec obligera, issu du projet de loi 16, obligera une plus grande transparence lors d'une transaction en copropriété. Le document d'attestation prévu dans cet article posera des questions pointues sur "l'état de la copropriété", afin que les acheteurs sortent du brouillard avant d'acquérir un appartement détenu en copropriété divise.

Deposits with the offer?

When the time comes to sign an offer to purchase, the vendor will often ask for a deposit, known familiarly as a « down-payment», to be deducted from the sale’s price. Even though there is no legal obligation to give a deposit, this practice offers to the vendor assurances of your intention to purchase and of your apparent solvency.

Definition : Offer to purchase (promise to purchase) - Deposit

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