16. Signatures
In section 16 Signatures, a special box explains the OACIQ’s mission as regulator of real estate brokerage in Québec for the benefit of the consumer. It includes a box for the broker to initial to confirm his status as the holder of a licence issued by the OACIQ.
The signatures of all the parties to the transaction are what bind the buyer and the seller. All the individuals identified in the document must sign it. If there are several buyers and sellers, the signature of each must appear in this section, including the signature of the spouse of each seller as an intervener, if applicable.
These signatures may be witnessed by the broker or by any other person. The witness is not a party to the transaction and is not required to intervene for the ultimate acceptance to be valid. However, the witness must be physically present at the time of signing by the person whose signature is being witnessed.
When drawing up the promise to purchase, only the buyer’s section is to be completed; the other blocks will be filled out as the various stages are completed.
Once the document is signed, the broker must give the buyer the copy that the buyer acknowledges having received at the time of signing. Unlike with the brokerage contract, this is a copy, not a duplicate. Conversely, the buyer could very well sign remotely, scan the document and email it to his broker. The copy thus received can be used. It is not necessary to recover the original.
All originals and copies used in the course of the transaction, including the Promise to purchase form and its annexes, must bear signatures or initials, as the case may be, whether handwritten, digital or electronic.
Once the buyer has signed, the promise to purchase is ready to be presented to the seller.
