Forms and contracts
Before you buy or sell a property, why not take a little time to review the OACIQ’s mandatory and recommended forms used by your broker? They will give you a good idea of the main steps involved in a real estate transaction.
Please note that these forms are provided for illustration purposes only and cannot be used for an actual transaction.
Since May 1, a ''Transitional Annex'' form must be attached to any brokerage contract entered into on or after that date. We remind you that a PDF version of this form was made available on Synbad on April 20. A carbonless paper version is also available from the Synbad online store.
In principle, a contract should not terminate before the expiry date provided therein. However, the Civil Code states that, in the case of a contract for services, the client can unilaterally cancel it (Article 2125 of the Civil Code).
The clause concerning the compensation, if any, that the seller will pay to the broker is, of course, very important. In particular, it is necessary to properly understand under what conditions such compensation will be due and as of when.
The OACIQ has recently announced that as of December 1, 2012, the following forms must be used to conclude the lease of a dwelling: New forms for residential lease
The seller remains free to refuse a promise to purchase even if it meets all the conditions in the brokerage contract
In 2010, the Court of Appeal, the highest court in Québec, handed down a major decision for real estate brokerage in a case where the Association des courtiers et agents immobiliers du Québec (ACAIQ) – now the Organisme d’autoréglementation du courtage immobilier du Québec (OACIQ) – appeared, first in the trial court, and later in the Court of Appeal, to argue its position.
The Professional Inspection Department has noticed a lack of understanding of the principles governing the receipt of a sum for another and the management of a deposit.
On October 24, 2012, the OACIQ announced the availability of the following forms which will be recommended for transactions concerning a vacant lot, a commercial or industrial immovable or a chiefly residential immovable containing five dwellings or more.
Procedure when concluding a brokerage contract or promise to purchase by fax.
Distribution procedure for signed copies of a brokerage contract or promise to purchase.
Good professional practices dictate, among other things, that an agent should discover and disclose any unfavourable factor related to an immovable in order to inform the buyer. To do so, he must question the seller and inform him of his obligations.