Buying a condo as part of a new real estate development can be both exciting and stressful.
You may have several questions when signing legal documents. How can you ensure that your rights are respected?
We met the notary specializing in co-ownership and municipal law Me Sophie Croisetière, member of the Chambre des notaires du Québec, to demystify certain myths surrounding the purchase of a condo in co-ownership.
Watch the video above to learn more about the role of a notary in a condominium real estate transaction.
During a new residential project, when signing the purchase offer, the promoter may ask you to pay him a deposit, that is to say an advance of funds on the property. This transaction may make you fearful: what about your money if the project does not come to fruition?
Fortunately, Me Croisetière informs us that since 2020, a new provision of the law protects the deposits paid by buyers. So, if the project does not finish for one reason or another, your money will be returned to you in full.
For good advice, go see a notary! And to learn more about notarial law, watch the other capsules in the series produced in collaboration with the Chamber of Notaries of Quebec.
Read also :