Definition : Preliminary contract (promise to purchase) - Indemnity

L'inspection préachat est un incontournable avant d'acheter un condo. Si on ne peut faire inspecter tout l'immeuble, ce qui coûterait trop cher, il est néanmoins possible d'avoir un aperçu du type de gouvernance qui y prévaut, que ce soit en matière d'entretien et de conservation du patrimoine bâti.

The signing of the preliminary contract binds the parties involved, namely you and the developer or builder. However, the law gives you a short "reflection" period, during which you can still terminate the contract unilaterally, in certain cases and in return for compensation to be paid to the promoter. This being said, the Civil Code of Quebec provides that you have the right within a period of 10 days to unilaterally cancel this contract, which means that you can walk away from your undertaking to purchase (right of withdrawal) without any justification. This "right of withdrawal" may be exercised by any promisor who is a natural person and who intends to occupy the apartment being the object of the preliminary contract.

The preliminary contract is an important step in any purchase of new or a property to be built.  At all times, the unequivocal will for the buyer to acquire the property must be registered.  Although the Civil Code of Quebec specifies the mandatory content of a preliminary contract, the statements contained therein are not exhaustive.  To be valid, the preliminary contract must include a certain number of mandatory information, under penalty of nullity. It is also possible to insert various optional clauses in this contract to deepen the conditions of this one.