When should you call on our lawyers for a promise to purchase?
Overbidding, rushed transactions, purchases without inspection, what happens when a seller or buyer refuses to conclude the transaction after signing a promise to purchase? Do you have any recourse? Our qualified lawyers will be able to guide and advise you in the different situations involving promises to purchase.
What is the promise to purchase?
This is a prior agreement which sets out the fundamental clauses of the real estate transaction while waiting for the final deed to be signed before the notary. It binds the parties to the sale of the property in question, without however entailing the transfer of ownership which only occurs after the signing of the deed of sale.
Non-compliance of your building
The city or a neighbor informs you that your building, your title deed or your construction project does not comply with the standards and regulations in force?
Unexplained loss of buyer interest
Why do potential buyers shun your building for no apparent reason? Is it the presence of a hidden defect that keeps buyers away?
Consult a promise to purchase lawyer today.
The recourse to force the transaction
The action in passing of title
It is actually a recourse for forced execution of a promise to purchase between a buyer and a seller. Both parties can initiate this action, as they both have a stake in the transaction taking place, whether voluntary or forced.
It is important to note that this recourse is a legal action against the other party to the promise, but it can sometimes be impossible to initiate if the seller has already sold the property.