In the course of buying or selling a property, aside from your agent, you will get to know a number of professionals working in the real estate industry. Since real estate agents are central to any real estate transaction, they can help coordinate your transaction by being the link with the others involved in your sale or purchase of a property. Here is an overview of the services offered by each professional.
Chartered appraisers provide an objective estimate of a property’s value. Their appraisals are used for insurance, mortgage, estate settlement and asset sharing purposes. The also serve as expert witnesses in court and their report can be used as supporting documentation in the appraisal of a property. To obtain the title of a chartered appraiser and the right to use the “Ė.A.” designation, appraisers must be members of the Ordre des évaluateurs agrees du Québec (www.oeaq.qc.ca).
Before financing the purchase of a property, it is strongly recommended that a building expert inspect it first.
Since the building inspector profession is not under governmental regulation, it is important to call on the services of an inspector who belongs to one of the following professional associations: technologists, engineers, chartered appraisers and architects. Inspectors who belong to one of these associations offer better protection to members of the public as they are overseen by their professional association. The Québec Association of Building Inspectors ensures that its members in Québec comply with professional standards.
To find inspectors who belong to one of he above associations, consult the GMREB’s www.notwithoutmyagent.com website in the “useful links” section.
Notaries are essential participants in any real estate transaction. They are, along with lawyers, the only ones legally entitles to draft a mortgage deed. They also write up the deed of sale and perform a title search to ensure that the purchased property is free from obligations. Notaries are members of the Chambre des notaries du Québec (www.cdnq.org).
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Land surveyors are the only ones authorized by law to delineate public and private property in Québec. Owners may call on their services to determine the boundaries of their lot using markets or to prepare a certificate of location. The Ordre des arpenteurs-géomètres du Québec (www.oagq.qc.ca) brings together all members of this profession.
Mortgage brokers help their customers find the best mortgage loans. They find loans whose conditions best meet your needs: prepayments, length of amortization, financing an old house, self-employed workers loan, etc.
Mortgage brokers must be licensed by the Association des courtiers et agents immobiliers du Québec (www.acaiq.com). They are listed under “Mortgage Loans” in the Yellow Pages directory. You can also consult the website of the Canadian Association of Accredited Mortgage Professionals (www.caamp.org).