For a real estate transaction, to buy or to sell a property, you’ll generally need the service of a notary. The notary will prepare the deed of sale, the deed of mortgage, and will register the transaction at the land registry office. In Quebec, notary fees can vary by region. The cost and price in Montreal (Quebec) for a real estate transaction -generally, the fees for the buyer ranges between 1,100$ and 1,800$, depending on the experience of notary and the complexity of the file.
In the context of a real estate transaction, for the purchase or sale of an immovable, several professionals are involved in the file. This is particularly the case for the notary, an expert in real estate laws. However, his role is often misunderstood and stereotyped as someone who simply fills out an authorization form. This is a misconception because his tasks are more than essential in terms of real estate transactions.
Reason to contact a notary
In Quebec, a mortgage must absolutely be received by a notary, in a deed in the minute, kept safe in his professional vault, under the sanction of an absolute nullity. In fact, the notary is one of the only professionals in the industry with legal expertise to ensure the protection of buyers, creditors and sellers. It should also be noted that usually, buyers are those who choose the notary.
However, the profession of the notary is still unknown to some people. According to several experts in the field, clients can do what they want because the notary is only there to have a document completed and his advice is useless. Fortunately, not all customers think so. Some people recognize the importance of the notary and the support he offers to clients during a sale or purchase.
Reality of the profession
The notary’s work is once again unknown, and yet he is working hard to ensure that each file is in order. He examines the laws in force, examines the titles and location certificate, the tracking of past transactions on the property and even the seller’s civil status and matrimonial regime.
Even if he is an excellent advisor, the notary often seems like the person who announces bad news. This may be the case if a structure is located on the neighbour’s property, compliance with servitudes, if the area is at risk of flooding, etc. So, no, it’s not just about signing a document! Notaries’ clients must know what it means to sign a document in front of the notary!
More than just a real estate transaction
You should never neglect the importance of a notary in a real estate transaction. If you do business with one of them, they cannot force you to sign a notarial deed. However, the notary will be there to inform you of the obligations you will have. Moreover, even if the notary’s fees may seem high, the notary advises you accordingly to avoid that you take on debts that are not yours or even lawsuits.
Although the notary’s profession is unknown and often stereotyped, he has the necessary expertise to ensure a safe real estate transaction. He can also help you and accompany you in the drafting of your testament, a power of attorney, a mandate of incapacity and even be your celebrant of marriage or civil union! Contact a notary without hesitation!
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