It is important to make a distinction between a broker and a real estate agent. The broker is the intermediary between the seller and the buyer of a property. The real estate agent works for a broker and thus, the brokerage contract is between you and the broker, that is the brokerage house, and not between you and the real estate agent. The Association des courtiers et agents immobiliers du Québec (ACAIQ) issues the certificates required to practice as a broker or a real estate agent. No other person plays a more important role than your realtor to help you find a home. He or she will help you find the property that will meet your expectations, will prepare an offer to purchase, will negotiate on your behalf and will coordinate the property’s inspection.

The builder or the developer

If you purchase a newly built home or renovate an existing one, you’ll need a builder or a contractor. Ask for references so that you may get information from previous clients on the quality of the work performed. Get some info from the organization that manages the new house guarantee program to which the builder subscribes, visit the developments built in the past and check if he or she is member of a builders association and has a provincial builder’s license

The land surveyor

In Québec, only a land surveyor is authorized to establish the limits of public and private properties. An owner may call on this professional to set the limits of a property through staking or by providing a location certificate. If the location certificate dates more than five years, it will probably need to be updated. The land surveyor must be a member of l’Ordre des arpenteurs géomètres du Québec (OAGQ).

The mortgage consultant

The mortgage consultant at your financial institution is an important asset who can help you get a mortgage that suits your profile and recommend different ways over the years to reimburse it faster while respecting your budget. Given that this know-how isn’t limited to the mortgage loan, a consultant can indeed offer you a global evaluation of the financial tools right for you and a range of products for any future projects: financing your renovations, retirement savings plans, and more. With an overview of all of your projects, a consultant can recommend solutions as part of a global strategy that reflects your financial situation, your long-term objectives and your risk tolerance.

The appraiser

The chartered appraiser must provide an objective appraisal of a property’s value. Indeed, these appraisals are the basis of all negotiations with respect to insurance, mortgage, inheritance or even the division of property. Furthermore, chartered appraisers can be expert witnesses in court and their reports are considered as supporting documents relative to the value of a property. The appraisal report should encompass a fair assessment of the property’s condition and of its characteristics, as well as an analysis of recent sales of similar properties and of the local market situation. In order to be called a chartered appraiser and add the letters c.a. to their signature, an appraiser must be a member of l’Ordre des évaluateurs agréés du Québec (OEAQ).

The building inspector

Before buying a residential property, it is strongly recommended to call on an expert to inspect it. The inspector’s role is to inform you about the property’s condition and identify any problems,
defects or malfunctions as well as repairs that need to be done. Given that the profession of building inspector is not subject to government, union or corporate control, one must ask for references and a signed written report. It should be noted however that there is nevertheless in Quebec an association responsible for enforcing standards among its members: l’Association des inspecteurs en bâtiments du Québec (AIBQ).

The insurance broker

The insurance broker can help you determine your needs with respect to home insurance and mortgage life insurance. Home insurance covers the replacement cost of your home in case of its loss. Mortgage life insurance protects your family in the event of your death taking place before the full reimbursement of your mortgage. The help of an insurance broker can prove very useful when purchasing these products.

The notary

As far as real estate transactions are concerned, it is clear that a notary’s services are indispensable. A public officer recognized by the government, the notary provides authenticity to the transactions that he or she records. The notary is, in fact, the only one authorized to draft a mortgage contract. A notary takes care of drafting the deed of sale and doing the title search to ensure that the property is unencumbered by charges or real rights. For example, the notary will make sure that the property does not have a construction-related lean on it (legal hypothec) or any other types of constraints.

Furthermore, the notary will check the documents prior to your signature, including the offer to purchase and the deed of sale. Of course, if you are buying in a co-ownership formula, your notary should preferably have some expertise in this area. If the selection of a notary is imposed by the other party and that you are not comfortable with this, nothing prevents you from retaining the services of a legal advisor to assist you. Notaries are members of la Chambre des notaires du Québec (CDNQ).

This information should make your task easier and help you to knock on the right doors to get the professional support you need.

Source : Chambre des notaires du Québec, Greater Montréal Real Estate Board, Canadian Real Estate Association, Jacques Beaulieu Consultant
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