Step 5 - Signing the deed of conveyance and becoming a homeowner

Your purchase offer has been accepted, the property passed inspection, you have obtained your mortgage—the only thing left to do is to sign the deed of conveyance at the notary’s office.

Role of the notary

  • Takes care of the legal aspects related to transferring the property title and the mortgage financing
  • Provides the mortgage deed (contract outlining the loan conditions) and the deed of conveyance, drafted from the purchase offer
  • Examines property titles, documents published by Bureau de la publicité des droits and documents provided by the seller (tax receipts, location certificate, marriage contracts or divorce papers)
  • Ensures that the property is free and clear of all encumbrances

Role of the buyer

  • Makes sure that the notary has all the necessary documents on hand (mortgage deed, tax receipts, and location certificate).
  • Goes over (with the notary) the adjustment statement that details the amount that has to be signed over to the seller to conclude the sale. Your notary will pay the seller on your behalf with your funds, which you have arranged to be made available through your Desjardins advisor.
  • Provides proof that your home insurance is in force, for an amount equal to or greater than the mortgage on the property.

Role of the seller

  • Provides the property titles
  • Guarantees that the property is free of any major defects that would make it unsuitable for its intended use

The documents are verified and both parties sign the deed of conveyance.