Actually, it's a little more complicated than that. In today's real estate world, everything is done quickly, without even including basic verifications, so only the notary can ensure that everything is in order. He's there to check if there's a mortgage, unpaid taxes, condo fees in arrears, and if so, he'll pay off the debts, out of the seller's funds, so that the buyer isn't responsible for these sums.
The notary also takes care of the legal aspects that come with ownership. Have you made sure that the man selling you his house is the sole owner and that his ex-wife no longer has any rights to it? Did he tell you about the Hydro-Québec servitude de passage that will prevent you from installing the pool of your dreams? As far as he's concerned, the servitude was never a problem, since his beautiful lawn is authorized, so he may have forgotten to tell you about it.
Enter your home with peace of mind.
This is the invisible part of the notary's work: checking and taking action to give you as much peace of mind as possible about your new purchase. You don't want a snowmobile trail running two metres from your bedroom, or a neighbor having a right of way over your property.
What does the notary do to detect and prevent problems?
When the file is opened, the notary verifies a series of documents and information about both the property and the people involved in the transaction. Among other things, this verification will enable him to question the buyers about their intentions. For example, are they buying in equal shares? Who is making the down payment? Then, after checking that the certificate of location is up to date, he can draw up the documents in due form.
Does all the information match?
The notary also examines the title deeds and compares his research with the data on the certificate of location and the promise to purchase to ensure that everything matches. The examination covers a minimum period of 10 years, and for certain deeds, such as servitudes, goes back to the creation of the cadastre at the end of the 19th century. This exploration is no small task, and often requires several hours' work.
Do you have to assume the ex-owner's debt?
And what about the money? Did you know that municipalities can have a property sold for non-payment of taxes, even if the debt belongs to the previous owner? The notary also obtains statements confirming that there are no arrears. If there are, the notary will deduct the sums due from the sale price and forward them directly to the creditor, controlling the funds as he does for the seller's mortgage.
Buy with full knowledge of the facts.
A garden shed that doesn't comply with municipal bylaws isn't a major problem, but a solarium built without a permit is more problematic - unless your intention was to destroy it. So, throughout the purchasing process, the notary is obliged to inform the buyer of the consequences of a title defect and the possible remedies. The buyer can then decide whether he or she wishes to buy with this problem.
Technology allows the notary to offer the signing of a notarial deed remotely, digitally, but that doesn't mean the whole process is accelerated. Yes, it saves you a trip to the notary's office. But the notary's job remains the same: to take the time to do things properly.
In the current climate, like many other professionals, notaries are in great demand. If you're planning to buy a property, before you set a date in your offer to purchase, check the availability of the professional who will be accompanying you.
You have the right to plan ahead!
Do you have any further questions? www.cnq.org
