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The pre-purchase inspection consists of inspecting the visible components of a building in order to identify major apparent defects. For its part, the evaluation aims rather to establish the financial value of the building.

The building inspector will focus on the construction of the building, but will not express an opinion on its value. Although the condition of the building influences the value, the certified appraiser will not inspect the property as thoroughly as the inspector and will not report on the condition of the building, other than is to mention in its valuation report certain obvious factors which have an impact on its value

Because he is the only person who is entirely impartial and independent in the exercise of his functions by retaining recognized professional services, you ensure that this person:

received university-level training;

successfully passed the entrance exam;

updates his knowledge regularly;

is subject to surveillance by the Order or association concerned; And

has professional liability insurance.

It is the most probable sincere price of the actual or presumed sale of a building, on a given date, on a free market open to competition and meeting the following conditions: 

The parties are well informed or well advised of the condition of the building, market conditions and reasonably well advised of the most likely use of the building;

The building has been put up for sale for a sufficient period of time, taking into account its nature, the importance of the price and the economic situation;

Payment is expressed in cash or equivalent to cash;

The sale price must disregard any consideration unrelated to the building itself and must represent the true consideration stripped of the impact of incentives, conditions and advantageous financing.

Source: Order of approved appraisers of Quebec OEAQ BD000518

The description of the reference unit, also called standard unit description or basic unit description, is a mandatory document required by article 1070 of the Civil Code of Quebec (C.c.Q), effective since June 3 2020.

This document therefore describes a so-called standard private unit with the aim of differentiating the improvements made by the co-owners. The elements mentioned in this document (the basis) will be considered to be provided by the union.

Conversely, all elements which are not included in this description are considered to be private improvements, therefore elements which must be ensured by the co-owners independently. This description corresponds to a standard unit, at the time of construction, to the best of our knowledge, before improvements and/or additions and extras are made by the owner.

Spaces defined as ''common for restricted use'' as defined in the declaration of co-ownership, can be mentioned in this form for informative purposes but legally excluded from the description of reference unit.

Fictional (but very common) example: John has lived in a co-owned unit for 5 years. All units have floating wood floors since construction.

Jean decides to renovate his home and replaces the floating wood floors with hardwood floors. Jean's hardwood flooring is a private improvement. The description of the reference unit will not mention Jean's improvement but will specify that the standard floor in the co-ownership association is floating wood.

The cost of reconstruction being based on floating wood, in the event of a disaster Jean would have floating wood in his unit.

Jean was, however, foresighted, he had provided a detailed list of private improvements affecting his unit to his personal insurance, when he carried out the work. His personal insurance will therefore ensure that Jean will still have a hardwood floor when the work is completed.

Example 2 (continuation of example 1): John finally decides to sell his unit to Julie. The sale was quick since Julie liked the improvements made by Jean.

Even though the hardwood floor was already there when Julie purchased the unit, it is still a private improvement. Julie will have to notify her personal insurance that improvements are present in her unit.

But how could Julie know what the private improvements are when she has just purchased the unit? Article 1070 of the Civil Code of Quebec (C.c.Q) provides that the document must be voted on and approved by the entire union at a general meeting. The document must be filed in the co-ownership register and made available to any co-owner who requests it.

It is therefore Julie's responsibility to inform herself, by consulting it she will realize that elements present in her unit are not included in the description.

Fortunately, the Integral Assessment team can write you a professional reference unit description that complies with regulatory requirements. In addition, we will do it free of charge if you have already commissioned us for the insurable value assessment, which is mandatory every 5 years. »