By Aurore Dangel
An offer to purchase an immovable property is as crucial a step in the purchase process for the seller as it is for the buyer. It involves the buyer obtaining access to the property and the seller turning it over. As such, the signature of an offer to purchase indicates, in principle, the willingness of both parties to make the sale materialize.
Yet, even with a signed offer signed, one of the parties — either the seller or the buyer — could be overcome by doubt and may ultimately no longer want to buy or sell the immovable property that is the subject of the offer. However, it is important to be aware of the fact that the signature of an offer to purchase is not risk-free. In fact, Québec contract law is subject to the principle of keeping one’s word and exercising good faith in one’s undertakings. It is therefore possible for the party aggrieved by this change of heart to initiate certain remedies that are worth highlighting.
