AFTER THE TRANSACTION: The steps after the Promise of purchase
Once the Promise to purchase or the Counter-proposal to the promise to purchase has been accepted, you must make sure all the conditions they contain are fulfilled, including the pre-purchase inspection, receiving all the documentation concerning the property, and obtaining your mortgage financing. It is important to understand clearly the steps to fulfilling the conditions contained in your promise to purchase and to make sure you meet the deadlines.
When all this is done, you will sign the deed of sale before a notary before moving into your new house or co-ownership property.
GOOD TO KNOW
When two or more real estate transactions are interrelated (for example when you must sell your home in order to purchase a new one), your real estate broker has a duty to allow a reasonable time frame between the dates of signing of the deeds of sale for the various transactions to take place.