The form Declarations by the seller of the immovable is a kind of report card on the property. On this form the seller provides, in good faith and to the best of his knowledge, everything he knows about the condition of his property. This form will allow you to make an informed decision regarding your purchase. It is automatically used when the seller does business with a broker. If not, your broker can add a condition to your Promise to purchase to the effect that this form must be completed by the seller.
The form Declarations by the seller of the immovable will provide you with all the details you need regarding the property, including:
Year of construction and year of purchase of the property;
Current mortgage status;
Any water damage that occurred in the past;
Presence of ochre or pyrite deposits;
Condition of the roof, plumbing, heating;
Any repair or renovation work done, with documentation if possible.
This form is a valuable tool to help your broker meet his verification obligation and discover any factor that could affect the transaction. When reviewing this form and making the necessary verifications, if your broker has a doubt on any factor that could have an impact on the transaction, he must disclose this fact to you. He may also advise you to add other conditions to a Promise to purchase (e.g. a soil test if there are signs of contamination).