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Release from the financial institutional, unknown but required

Have you just sold your house? You think the transaction will be done without fees? In Québec, the buyer chooses the notary. They will also assume the fees for drafting the mortgage deed as well as both parties’ act of sale. However, the notary will charge fees, only to you, if you have a mortgage on the property.  These fees are not part of the fees paid by the buyer. They are costs associated with the acquittance and release from your financial institution. This document officiates the reimbursement of your debt and releases you from your obligation. Since it arises from your mortgage which was used to acquire your property, you are responsible for this honorarium and disbursement invoice. Ask your notary so as to plan for this expense.

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Did you know…

Buying a home is an important event for anyone. Sometimes, after the purchase of a home, some problems that were previously unsuspected come to light. Whether it’s cracked foundations, water infiltration, mold, etc., these defects cause you a great deal of hassle and generate significant costs. What can you do in this situation?


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