Resources
N o t a r i e s, M o r t g a g e, Inspector, . . .
Notary
You need a lawyer (or a notary in Quebec) to protect your legal interests, such as ensuring the property you are thinking of buying does not have any building or statutory liens or charges or work or clean-up orders associated with it.​ He or she will review all contracts before you sign them, especially the Offer (or Agreement) to Purchase. Having a lawyer/notary involved in the process will give you peace of mind and ensure that things go as smoothly as possible. Law associations can refer you to lawyers who specialize in real estate law. In Quebec, contact the Chambre des notaires du Québec for the names of notaries specializing in real estate law.
The Role of the Notary:​
1. Legal adviser.
2. Title examiner.
3. Identifies mortgages, seizures and any other leans on the property.
4. Writer of the deeds: Deed of loan, Deed of sale.
5. Holder of money, in trust account.
6. Plays the role of a mediator in case of disagreement between the seller and the buyer.
Mortgage
There are many different types of mortgages, each with its own advantages and disadvantages, it is very important that you do your research.   Remember that many people were impacted by predatory lenders and given mortgages that they could not sustain during the housing crisis of the last two years.  Understanding these differences will enable you to choose the right mortgage for your financial situation and housing goals. Be an educated consumer!
The inspection is a very important step in your buying process since it confirms legally that the home has been completed to your satisfaction in agreement with your contract. Allow enough time for a thorough inspection of your new home and a comprehensive orientation. This can take several hours. It’s important to focus all of your attention on your inspection. For this reason, it is best if friends, relatives, children and pets see your home at another time.
Another purpose of the inspection is to orient you to your new home and all its features. This orientation can include detailed demonstrations of equipment as well as useful information on maintenance and upkeep.
