8 essential documents to prepare the sale transaction at the notary
Several documents will be useful, even essential, in the process of selling your property to provide to potential buyers or to prepare you for the sale transaction at the notary.
1. Certificate of location
The certificate of location describes the current condition of the entire property (land, main building and outbuildings). It confirms its status in relation to the laws and municipal regulations in force. If it is more than 10 years old or if major changes have been made, you must get a new one through a land surveyor.
2. The declarations by the seller
The delcarations by the seller allows the buyer to obtain details on the condition of your property. It is an integral part of your brokerage contract, to which it must be attached. You must complete it by indicating in good faith and to the best of your knowledge the information concerning your home. This form is an added value that real estate brokers offer to protect your interests. It minimizes the risk of lawsuits for sellers, and allows buyers to deal with full knowledge of the facts.
3. Previous deed of sale
The previous deed of sale is a document to be provided proving that you hold the property rights in your residence. This document was given to you by your notary when you purchased your current property.
4. Declaration of co-ownership (condo only)
The declaration of co-ownership is the agreement that governs the relationship between the co-owners and the administrators, with regards to the building. It is an essential legal document for the life of the condominium. It includes all the rules ensuring the efficiency of the organization of the co-ownership and stipulates the conditions of use and enjoyment of the private and common parts.
5. Mortgage deed
This document was given to you at the notary at the time of your purchase and created by your financial institution. It proves that your financial institution has a claim on your property.
6. Evaluation report
This report is optional but it can be very useful during a negotiation. At this stage, the real estate broker defends your interests and shows potential buyers that the asking price is justified. This report is prepared by a certified appraiser and if you do not have one, your real estate broker will prepare adequately by showing comparables sold in your area.
7. Tax, electricity, water and gas bills
Submit the latest invoices from all of your service providers. The notary must obtain them in order to make the necessary adjustments and reimburse you for the part overpaid exceeding the day of the sale.
8. Work invoices for renovations carried out
This is useful evidence to justify a higher sale price compared to other comparable properties currently for sale. It is worth proving that you have properly maintained your home over the years.
Your real estate broker will also ensure the accuracy of these precious documents necessary for the process of selling your property.