G&E Realty Group | Keller Williams Prestige | Montreal Real Estate Excellence

The closing process finalizes the sale and makes your purchase official. At the time of the signing of the deed of sale, you will become the legal owner of the property & incur all responsibilities thereafter.

01. WHAT CAN YOU EXPECT?

In the case of new construction, the notary is almost always designated by the developer. In the case of a re-sale, the notary is almost always designated by the purchaser. The notary’s responsibility is to look over all titles and deeds, to ensure you are purchasing a property free and clear of any debts and potential issues. Should there be an issue with the title, taxes, certificate of location, or any other; the notary will contact you to advise you on how to proceed.

Our team at G&E Realty Group are experienced in all matters of closing, and can consult with you on what your best options are - in the event of an unforeseen issue.

02. WHAT ARE YOUR COSTS?

In order to conclude a real estate transaction in Quebec, you will need the assistance of a notary. The Notary will prepare the deed of sale for you to sign, the mortgage deed for you to sign, and will register the sale at the land registry office. You should expect to pay between $1,200-$1,600 for the services of a notary.

At the signing of the deed of sale, you will have to pay the municipal taxes and school taxes that have been paid in advance by the seller. The notary will calculate these amounts for you ahead of time, and will create a statement of adjustments for you to review. If there are another other fees pre-paid by the seller (such as heating oil for the remainder of the year), they will also be calculated in the adjustments.

You should also keep in mind moving expenses, as well as service connection fees, the cost of renovations, repairs, title insurance if necessary and property insurance.

03. BE PREPARED

Please bring two official photo IDs to the notary signing. After closing, scan all of the deeds, documents and other & save in a folder that can easily be accessed digitally. Also, keep a physical copy of the deeds and certificate of location as you will need those when it is time to sell your property.