Courtier Immobilier Montréal Yanick E Sarrazin

Can a buyer move into a property before passing through the notary’s office?

Can a buyer move into a property before passing through the notary's office?

Can a buyer move into a property before passing through the notary’s office?

Some buyers wonder whether it’s possible to move into their new property before going to the notary? It is possible to do so, but this situation is not ideal for several reasons. It’s essential to stress that the property remains the property of the seller until the notarial deed is signed. It is therefore essential to take the following points into account before giving your consent.

1. Legal risks

As the seller remains the legal owner of the property until it is signed at the notary’s office, this can sometimes cause problems in the event of a dispute. For example, if damage or incidents occur because of the buyer, liability could fall on the seller, even if the latter is not responsible for these incidents.

2. Insurance and coverage

For the buyer, it can be risky to move into the property before the notarial deed has been signed, as home insurance only takes effect once the deed has been registered. Consequently, in the event of a claim such as fire or flood, the buyer would not be covered. What’s more, the seller’s insurance policy cannot cover the buyer’s property or any damage caused by his presence before the notarized transaction is completed.

3. Unexpected changes

Although this situation is relatively uncommon, it is possible for a sale to fail, even after a promise to purchase has been accepted. Indeed, financing problems or the discovery of unforeseen elements during the inspection may prevent the transaction from closing. In this case, if the buyer has already begun moving in or carrying out work on the property, he could find himself in a tricky position.

4. Preserving the seller-buyer relationship

Letting the buyer take possession of the property before the official closing could lead to tensions or misunderstandings between the two parties. That’s why it’s best to wait until the sale has closed, to avoid potential conflicts.

In short, our team of Montreal real estate brokers advises against allowing a buyer to move into a property before signing at the notary’s office. However, should the seller be obliged to allow the buyer to occupy the premises prior to notarization, for whatever reason, it is strongly recommended that this agreement be formalized in writing. This should clearly specify: the duration of occupancy, the procedures to be followed should the sale fail, and the nature of the work the buyer plans to carry out.

Articles immobiliers récents de nos courtiers

Étiquettes

Guide de l'acheteur

Actualité immobilière à Montréal