12. Other declarations and conditions
The complexity of a real estate transaction means that no working document or contract, no matter how standardized, can take into account all possible requirements, specificities and precautions of either the seller or the buyer. They have to be adapted.
Clause 12.1 allows the broker to enter provisions that supplement or amend those already contained in the mandatory Promise to purchase form and its annexes. He can also add new provisions there.
If space is insufficient under this clause, the use of the Annex G – General is recommended.
The broker must ensure that the declaration or the condition of purchase which he is adding is not already covered by clauses contained in promise to purchase forms, annexes or standard clauses. For example, it would be pointless to add, at the request of a worried buyer, that if the seller does not completely clear the basement where countless boxes and objects are stored, the seller will bear the costs of doing so. The promise to purchase already contains such a provision (clause 10.2).
Standard clauses
The OACIQ provides brokers with a series of standard clauses that can be used in the context of a promise to purchase. They cover various aspects of the transaction. They are available on synbad.com and are integrated into the electronic forms.
For more information: Standard clauses – drawing, tips and examples
Exclusion of the legal warranty of quality
The legal warranty can be increased, decreased or even excluded upon agreement between the parties to the transaction. Except in rare cases, excluding the warranty of ownership (warranty of title) is never recommended. It is common, however, to see an exclusion of the warranty of quality, especially in the case of the sale of an immovable by an estate or following repossession. Under certain circumstances, it may even be appropriate to recommend that a seller sell without the warranty of quality. This could be the case when selling the property of an elderly person who does not want to worry about a potential recourse by the buyer for a hidden defect, which could be exercised against the person’s estate.
For more information: The legal warranty of ownership and quality and Standard clauses – 3 – Promise to Purchase
