1. Identification of the parties
In section 1. Identification des parties, the broker must enter the complete names, addresses and phone numbers of the buyers and the sellers. Email addresses, although optional, can also be very useful.
If the seller’s information appearing in the description sheet is incomplete, the buyer’s broker must obtain the missing information from the seller’s broker.
Verification of identity and legal capacity
The broker’s obligation is not limited to identifying the buyer and the seller on the Promise to purchase form. He must also verify the identity of the person he represents, and he must do the same for the other parties to the transaction if they are not represented by another licence holder.
For more information: Guideline – Preventing money laundering and real estate fraud – 6. Verifying the identity and legal capacity of the represented party and their representative
