If you are buying property in Quebec for the first time - or buying after experience in another province - the Promesse d'achat will likely be the most significant legal document you sign before the notarial deed. Understanding it fully before you sign is not optional. Here is what it contains and what each element means.

What It Is

The Promesse d'achat (Promise to Purchase) is a legally binding offer to buy a property at a specified price and on specified terms. When both buyer and seller sign it, both parties are contractually committed - subject only to any conditions included in the document. Unlike a letter of intent or a soft offer used in some other markets, there is no "getting out" once conditions are waived in Quebec.

Key Elements of the Document

Purchase price: The amount you are offering. This is the number negotiated between buyer and seller.

Deposit: Typically 3–5% of the purchase price, paid upon signing or within a defined period. The deposit is held in trust and credited against your purchase at closing.

Conditions: The conditions under which you can exit the agreement with your deposit returned. Standard conditions are financing (mortgage approval) and inspection. Each condition has a defined deadline.

Inclusions and exclusions: What stays with the property (appliances, light fixtures, storage units) and what the seller takes. Be specific and in writing - verbal agreements about inclusions are unenforceable.

Closing date: The date on which the notarial signing will occur and keys will be exchanged.

The Financing Condition

This condition gives you a defined period (typically 5–10 business days) to obtain a written mortgage commitment from your lender. If you cannot secure financing, you can invoke the condition and receive your deposit back in full. Waiving the financing condition without a firm mortgage commitment is high-risk and not recommended for first-time buyers.

The Inspection Condition

This gives you the right to have the property professionally inspected and to exit the deal if the results are unsatisfactory - though "unsatisfactory" must be legitimate, not a pretext. In practice, if an inspection reveals significant issues, the more common path is to renegotiate the price or request remediation rather than exit entirely.

After Conditions Are Waived

Once all conditions are satisfied or waived in writing, the deal is firm. Both parties are committed to completing the transaction on the agreed terms. Attempting to exit a firm deal in Quebec exposes the backing-out party to legal action for damages. Treat the waiver of conditions as the point of no return.