The Quebec Professional Association of Real Estate Brokers (QPAREB) has welcomed the final regulation completing the province’s new condominium-transaction rules, but is calling for revisions.

QPAREB warns that that some elements may compromise transparency in the sales process and affect homeownership in the province.

The reform, which comes into effect on August 14, will require sellers to provide buyers with a certificate from each property’s strata co-ownership group. The certificate must include detailed information on finances, claims, major work, insurance, litigation, and any amendments to the declaration of co-ownership.

While QPAREB supports the reform’s intent to improve access to information when buying a condominium, it is concerned that the certificate is currently only obtainable after a promise to purchase is submitted. QPAREB argues that this interpretation of Article 1068.1 of Quebec’s civil code leaves both sellers and buyers at a disadvantage.

“This constraint would deprive sellers of useful information for setting their selling price and buyers of essential information when making their offer,” said QPAREB.

The realtor group supports the principle of providing better information for buyers and sellers but wants the details to be provided “at the right time,” before each party is required to make a legal and financial commitment.

“Real estate brokers must also have all the information they need to fulfill their duties of verification, disclosure, information, and advice to their clients,” Nathalie Bégin, president of QPAREB’s real estate brokerage-practice committee.

QPAREB says the rule could force buyers to make offers without full knowledge of a property’s condition, and sellers to renegotiate even after an offer has been accepted. The resulting uncertainty “will make the transaction even more stressful for many buyers and sellers,” the group contends.

QPAREB also called attention to the lack of clarity on how the new certificate will align with the RIS form (Request for information to the syndicate of co-owners), widely used by brokers and recommended by the Organisme d’autoréglementation du courtage immobilier du Québec.

“The RIS is a tool that is recognized, appreciated, and used by the vast majority of real estate brokers and their buyer clients to obtain relevant information prior to a transaction,” said QPAREB. “Its future in the revised regulatory context remains uncertain, which could create confusion in the field,” added Bégin.

QPAREB is urging the provincial government to allow sellers to obtain the certificate before listing a unit for sale and to clarify how the RIS will fit into the new rules. Discussions with the government are ongoing, and QPAREB is hopeful that adjustments will be made.