How does the meeting at the notary take place ?

What documents need to be prepared? Who should pay the notary? What fees will be charged? These are questions that everyone asks themselves and that notaries are happy to explain to their clients to make their lives easier and improve their experience.

Once the promise to purchase or the counter-proposal is accepted and all the conditions are met, all that remains is to formalize the transaction at the notary. This visit is mandatory in order to ratify the deed of sale.

The role of the notary

• Take care of the legal aspects and mortgage financing;
• Prepare and provide the deeds of purchase and sale as well as the mortgage loan deed;
• Transfer the property titles;
• Cancel the mortgage loan and obtain the discharge;
• Examine the property titles, dimensions, zoning, charges, easements,
• the certificate of location, documents published in the Land Registry and all other
• documents provided by the seller (marriage contract, divorce judgment, etc.);
• Check whether the property is free of all debts;
• Calculate adjustments and prepare the statement of distributions taking into account professional fees, existing mortgage cancellation fees, taxes, co-ownership fees if applicable, broker's fees and other fees;
• Draft, have signed and publish the deed of sale in the Land Registry.

The advantages of this meeting

Certain aspects of a real estate transaction can be delicate to handle between a buyer and a seller. The notary plays his role as guardian angel for buyers by taking under his wing the following verifications:

• Does the seller have the legal authority to sell the property?
• Is he the true owner?
• Who else (if applicable) must consent to this sale?
• Is the certificate of location up to date and contains all the information that demonstrates the "health" of the property?

The choice of notary and the fees to be paid

As a general rule, the notary is designated by the buyer and the fees are paid by the latter. The amount may vary depending on the complexity of the file and the notary's office.

The seller must also pay the amounts that the notary has paid for him:

• The costs of publishing the deed of cancellation in the Land Registry;
• The costs of obtaining official municipal and school tax statements;
• The costs of obtaining the statement of charges for the co-ownership;
• The title insurance premium;
• The bank transfer costs for paying the real estate broker, the location certificate, tax arrears;
• The costs of managing the trust accounting carried out for the seller;
• Copies of deeds; Courier costs, etc.

The seller may have to pay certain costs, for example:

• Obtaining the statement of account of the seller's mortgage creditor, repaying the balance of the loan, preparing the deed of cancellation and publishing it in the Land Registry;
• Obtaining municipal, school and water tax statements;
• Obtaining the statement of expenses for a co-ownership;
• Obtaining title insurance;
• Preparation of the mandatory form by the Land Registry;
• Transfer of funds;
• Preparation of power of attorney;
• Holding of funds in trust including the withholding agreement and management;
• Bridging loan;
• Meeting deferred from that of the buyer at the request of the seller;
• Declaration of transfer of a property;
• Regularization of title defects, etc.

Preparing for your meeting

The notary ensures compliance with the rules and supports buyers throughout their transactional process. Since the law involves several steps, this legal professional offers impartial support to assist property buyers. In order to facilitate your first meeting, your broker can advise you on how to prepare.

Documents required for a notarial deed for a buyer:

• Identity documents
• Copy of the marriage or divorce contract if applicable
• Proof of home insurance on the date of possession (or signing of the deed of sale) of your future property
• The amount representing the down payment, legal fees and disbursements and adjustments.

Documents required for a notarial deed for a seller:

• Copy of the promise to purchase and its annexes;
• Certificate of location in order;
• Property tax;
• Titles of acquisition of the property;
• Marriage contract or divorce certificate;
• Fire/theft insurance policy;
• Copy of receipts and guarantees for major work carried out on the property;
• Copy of the mortgage loan or discharge.

If applicable:

• Declaration of co-ownership;
• Contact information for the condominium administrators' association;
• Rental contract (water heater, alarm system, etc.);
• Copy of leases.

If another document is necessary for the transaction in your case, your notary will be able to guide you.

The notary's bill includes his fees, disbursements and taxes (GST and QST). (Chambre des notaires du Québec, March 20, 2024)

Source : Proprio Direct Inc