Using the services of a real-estate broker is not mandatory. That said, unless you are able to personally handle the purchase and/or sale of a fraction of a building held in divided co-ownership, you should call upon this professional during your process. Doing it yourself would require a massive investment of time and advanced knowledge in several fields. Moreover, when you work with a real estate broker for the purchase, sale, or rental of a property, you are protected under the Real-Estate Brokerage Act.
In divided co-ownership, the broker must have a thorough understanding of the specific aspects related to the declaration of co-ownership, the contingency fund, and the attestation on the condition of the co-ownership required under article 1068.1 of the Civil Code of Quebec. His or her professional obligations, ongoing training, and legal responsibilities are strictly regulated. For a safe transaction, the broker must demonstrate diligence and transparency.
To better understand the role of the real estate broker in divided co-ownership, two complementary sub-sheets are available. They clearly, concretely, and accessibly explain the main legal and practical aspects of this profession, which is essential to the transparency of transactions in co-ownership. To explore these topics:
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