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What does the preliminary contract contain?

Description

The preliminary contract description of the unit you are buying, a location in the building, the selling price and the delivery date, among others.

The preliminary contract must contain a ten-day indemnity clause, subject to a maximum penalty of 0.5% of the sale price, adds Allard.

For buildings with at least 10 units, the developer must also attach the information note, which includes the names of the architect, engineer, builder and developer, a general plan for the real estate project, a technical estimate, a provisional budget, a description of the common elements, a summary of the declaration of ownership.