As a follow-up to my article published last month, I would like to elaborate on a few aspects of selling a home without a realtor since I may given some the impression that I was discouraging the use of such an intermediary.
The main message of my previous article was that should one make the informed decision of buying a home or doing any real estate transaction without the assistance of a realtor, then this person should consider consulting a notary at the beginning of the process of the offer to purchase, not only when comes time to sign the hypothec and deed of sale.
Real estate transactions involve several considerations which are usually beyond the general scope of public’s qualifications. Taking on a sale or a purchase on your own can result in major inconvenients and/or consequences. Realtors, with their experience and expertise, can help their clients avoid those potential pitfalls.
It is of course entirely possible to conclude a real estate transaction without a professional realtor. However, as mentioned in my previous article, there are potential complications in private sales which are easily avoidable. We can also add to the list published last month for example: never ending discussions on the date of remittance of the keys when the parties forgot to complete this section of the offer to purchase, vendors hiding important facts related to the property like in this case where the buyers learned after the fact that a suicide pact took place therein, etc.
Taking into account all of the resources available before deciding to sell on your own is important. The sale should be carefully planned and prepared. For example, the vendor shall make sure that all the proper documentation is in order, including an up to date certificate of location. Without the guidance and advice of a professional, who will inform the vendor that his certificate of location is not up to date ? Will he even know that he needs to provide a certificate of location ?
The recourse to a notary being mandatory for any real estate transaction involving a mortgage, why wait until the offer is finalized and firm to consult your notary ? This is your guarantee of a complication-free private real estate transaction.
chronique parue dans Rendez Vous (TC Média) juillet 2016