So, you’re thinking about buying or selling a home in Quebec? Let me tell you about one of the most important documents you’ll encounter – the Seller’s Declaration. As a real estate broker in Quebec, I often hear this question: “Why do I need to share everything about my home, even the not-so-great stuff?” Well, let me break it down for you.

Understanding the Seller’s Declaration: Your Property’s Report Card

Bonjour! Think of the Seller’s Declaration (or “Declarations by the seller of the immovable” in official terms) as your property’s detailed report card. It’s a mandatory form created by the OACIQ (our Quebec real estate association) alongside the AIBQ (inspector association) that tells the whole story of your home.

💡 Pro Tip: This isn’t just another piece of paperwork – it’s your best protection against future legal issues, whether you’re buying or selling.

What Does the Declaration Cover?

When you’re filling out a Seller’s Declaration, you’ll need to share:

• Basic property details (year built, purchase date)
• Current mortgage status
• Property systems information (roof, plumbing, heating)
• Any past issues (water damage, structural problems)
• Renovation history
• Service types (well or city services)
• Location-specific concerns (flood zones, soil conditions)

Why Honesty is the Best Policy

Here’s the thing about real estate – every home has its quirks. That’s just the reality of homeownership. While it might feel strange sharing your property’s imperfections when everything else (like staging and photos) aims to present it in its best light, being thorough and upfront isn’t just a legal obligation – it makes good business sense.

For Sellers

Being honest in your declaration:

• Reduces liability for hidden defects
• Makes transactions smoother
• Protects against future legal action
• Creates trust with potential buyers

For Buyers

A properly completed declaration:

• Helps make informed purchasing decisions
• Provides valuable property insights
• Offers legal protection
• Prevents unwelcome surprises

Real-World Example: The Case of the Aging Roof

Let me share a common scenario. Say a seller declares their roof is 27 years old. Three months after purchase, the roof leaks. Is this a hidden defect? No! Since the buyer knew about the roof’s age through the Seller’s Declaration and proceeded with the purchase anyway, they accepted this condition as part of their purchase decision.

When Is It Required?

The Seller’s Declaration is mandatory for:

• Residential properties with fewer than 5 units
• Divided and undivided condominiums

While not mandatory, it’s strongly recommended for:

• Properties with 5+ units
• Commercial properties
• Industrial properties
• Vacant land

Taking Action: Next Steps

Whether you’re buying or selling, here’s what you need to do:

For Sellers:

1. Complete the form thoroughly with your broker
2. Document all renovations and repairs
3. Be honest about known issues
4. Keep supporting documentation

For Buyers:

1. Review the declaration carefully
2. Ask questions about unclear items
3. Use it to inform your home inspection
4. Keep a copy for your records

The Bottom Line

The fact of the matter is, a Seller’s Declaration isn’t just another form to fill out – it’s a crucial tool that protects everyone involved in the transaction. Don’t be shy to ask questions about anything that seems unclear. After all, whether you’re buying or selling, this document helps ensure everyone starts on the same page.

Need more information about Seller’s Declarations or other aspects of Quebec real estate? Don’t hesitate to reach out – I’m here to help make your real estate journey smoother and more successful.

Ready to Navigate Your Real Estate Journey?

Selling or buying a property in Quebec involves important documents like the Seller’s Declaration – but you don’t have to figure it out alone. At Peter Thompson Real Estate, we pride ourselves on making complex real estate transactions feel simple and straightforward.

 

According to the National Association of Realtors, 89% of homebuyers work with a real estate agent. But what happens when you visit a property without yours? Let’s break down this common yet tricky situation that many first-time homebuyers encounter.

Understanding “Cause of Sale” in Real Estate

In the real estate world, there’s an important concept called “cause of sale” that determines which broker earns the commission on a property sale. Think of it as a way to track who helped make the dirty happen.

Three main factors determine cause of sale:

1. Initial interest in the home (who shared the listing?)
2. In-person property visits
3. Intention to make an offer

The Awkward Situation: Visiting Without Your Broker

Here’s where things can get complicated. Let’s say you spot a beautiful home online and decide to visit an open house or schedule a viewing directly with the listing agent. Later, you love the property and want your regular broker to help submit an offer.

💡 Pro Tip : The listing broker could claim “cause of sale” if they showed you the home and provided information about it, potentially creating confusion about commission and representation.

Best Practices for Home Viewings

If You Already Have a Broker

• Always ask your broker to schedule viewings
• Inform them immediately if you’ve already scheduled a viewing
• Let listing agents know you’re working with a broker

If You Don’t Have a Broker Yet

While you’re free to visit properties independently, remember that listing brokers primarily represent the seller’s interests. Their responsibility is to get the best deal for the seller, not protect your interests as a buyer.

Choosing the Right Representation

The smartest approach is selecting your broker before starting serious home visits. Here’s how:

1. Research potential brokers online
2. Ask friends and family for recommendations
3. Multiple brokers interview
4. Consider their experience and communication style
5. Ensure they’re a good personality fit

Why Professional Representation Matters

Working with a dedicated buyer’s agent offers several advantages:

• Expert negotiation skills
• Market value assessment expertise
• Property issue identification
• Legal protection throughout the process
• Professional guidance on offers and contracts

Avoiding Common Pitfalls

To prevent awkward situations and ensure smooth transactions:

• Be upfront about your representation status
• Communicate clearly with all parties
• Keep your broker informed about any property interests
• Allow your broker to handle scheduling and communications

The Bottom Line

While it’s technically possible to buy a home without an agent, having professional representation typically leads to better outcomes. When you find the right broker, they become your advocate throughout the entire home-buying journey.

Need more guidance on choosing the right real estate broker in Quebec? Don’t hesitate to reach out. At Peter Thompson Real Estate, we’re always happy to help you navigate the complexities of home buying.

Remember: The right broker isn’t just about experience – it’s about finding someone who understands your needs and makes you feel confident throughout the buying process.

 

📺 Watch the Video: YouTube Link Here

What Happens If The Appraised Value Comes In Too Low? A Homebuyer’s Guide

In today’s dynamic Quebec real estate market, a common concern among homebuyers is what happens when a property’s appraised value doesn’t match the agreed-upon purchase price. Let’s break down this crucial aspect of the home-buying process and explore your options.

Understanding Home Appraisals: The Basics

When buying a home with a mortgage, lenders require a professional home appraisal to determine the property’s fair market value. This protects both you and the lender from overpaying for a property.

• Cost: Typically around $500
• Purpose: Provides an unbiased assessment of the home’s value

💡 Pro Tip: Don’t confuse an appraisal with a home inspection—while both are important, they serve different purposes in your home-buying journey.

When Appraisals Come In Low: A Real Example

Here’s a scenario we recently encountered in the Quebec market:

• A home listed at $500,000 received an offer of $600,000.
• However, the bank’s appraisal came in at $550,000—creating a $50,000 gap between the offer and the appraised value.
• This posed a challenge for both the buyer and the seller.

What Causes Low Appraisals?

Several factors can lead to a lower-than-expected appraisal:

1. Rapid market price changes – When home prices rise too quickly, appraisals may lag.
2. Limited comparable sales – A lack of recent, similar sales in the area can affect valuations.
3. Unique property features – Uncommon designs, layouts, or upgrades may not be reflected in the comps.
4. Property condition issues – Homes requiring major repairs may receive lower valuations.
5. Overheated bidding wars – Multiple competitive offers can drive prices above appraised value.

Your Options When Facing a Low Appraisal

For Buyers:

1. Increase Your Down Payment

   • Cover the difference between the appraised value and purchase price.
   • Example: In the $600,000 scenario, you’d need an extra $50,000.

2. Renegotiate with the Seller

   • Request a price reduction to match the appraised value.
   • Consider splitting the difference with the seller.

3. Challenge the Appraisal

   • Request a review or second appraisal if you believe it was inaccurate.
   • Provide additional comparable sales data to justify a higher valuation.

For Sellers:

1. Adjust Your Price Expectations – Be open to revising your listing price.
2. Work with Your Agent – Provide additional market data to support the original price.
3. Consider Other Offers – If the deal falls through, explore backup buyers.

📍 Related: The Power of Pre-Approval: How to Make Getting a Mortgage Easy and Safe

Need Help Selling Your Home?

Every home has the right buyer—sometimes, it’s just about making the right adjustments.

If you have questions about why your home isn’t selling or want an expert’s opinion on market conditions in Quebec, reach out today!

📞 Call Peter Thompson: (438) 500-8344
📩 Email: peter@peterthompson.ca

🏡 About Peter Thompson

Peter Thompson is a Quebec real estate expert specializing in helping homeowners navigate complex market conditions. Contact him today for a personalized home sale strategy.

🔗 More Resources:

• Avoid This Mistake When Moving Into Your New Home: A Complete Timeline Guide
• What Does a Buyer’s Agent Do? Your Complete Guide for 2025