Definition
Private sale (vente de gré à gré) is legal in Quebec. Platforms like DuProprio facilitate marketing without a broker.
Advantages for seller: - Savings on listing broker commission (2-3% of sale price) - Total control over the sale process
Increased responsibilities: - Drafting or obtaining the purchase offer (notary can help) - Property valuation and fair price setting - Handling negotiations - Compliance with legal obligations (seller's declaration, etc.)
Risks: - An uninformed seller may accept too low an offer or unfavorable conditions - A buyer represented by a broker may be advantaged in negotiations
For the buyer of a private sale: - No OACIQ broker doesn't mean absence of seller's legal obligations - The notary mandated for the transaction can prepare the purchase offer for both parties - The buyer must be even more vigilant about inspection and seller's declaration