In short
These are Quebec rules. Buying a new condo from a builder or promoter, to live in it, starts with a preliminary contract. You can withdraw within 10 days; the withdrawal indemnity, if the contract provides one, cannot exceed 0.5% of the price. The seller must give you an information notice (projected budget, declaration of co-ownership), and your deposit must be fully protected. Final financing is only signed at delivery: a preapproval holds a rate for just 60 to 130 days, and does not guarantee the loan.
What the law gives you at signing
| Protection | What it provides | Article |
|---|---|---|
| Preliminary contract | Mandatory when a builder or promoter sells a residential building to a person buying it to live in | 1785 |
| Right to withdraw | You can withdraw within 10 days of the contract; if the information notice was not given, until you receive it or within 10 days of receiving it | 1785 |
| Contract contents | Names and addresses, work to be done, price, delivery date, real rights; the terms of any price revision | 1786 |
| Withdrawal indemnity | 0.5% of the agreed price at most | 1786 |
| Information notice | Mandatory for a divided co-ownership fraction or an undivided share: parties involved, plan, specifications, projected budget, declaration of co-ownership even in draft form | 1787, 1788 |
| Deposit | Must be fully protected (guarantee plan, insurance, surety or trust) and returned if the fraction is not delivered on the agreed date | 1791.1 |
| Declaration not registered | The sale can be cancelled without formalities if the declaration of co-ownership is not registered within the 30 days provided | 1792 |
According to Éducaloi (legal information non-profit), the preliminary contract is not required if you buy to rent the condo out. Deposit protection amounts and warranty periods are in the new home warranty guide.
Before you sign
- Check that the builder is accredited by GCR: the law requires it for the new home to be covered. The warranty contract is signed at the same time as the preliminary contract.
- Read the information notice, especially the projected budget: it sets your first condo fees.
- Note the planned delivery date, and what the contract says if the price can be revised.
- Have a notary review the preliminary contract during the 10-day withdrawal period.
- Talk to a mortgage broker about how financing will be obtained at delivery.
Financing: it comes at delivery
According to FCAC, a preapproval can hold a rate for 60 to 130 days, depending on the lender. It does not guarantee the loan: a lender can refuse even after a preapproval. But construction often takes years. The real financing is therefore negotiated as delivery approaches, and your file is assessed at that point, under the stress test in effect then.
For an insured mortgage, 30-year amortization has been available since December 15, 2024 to buyers of a newly built home. The government specifies that the never-occupied requirement does not exclude a new condo that had an interim occupancy period. The welcome tax also applies to a new condo, and GST and QST apply to new homes: see the GST/HST on new homes guide.
At delivery
GCR provides two pre-delivery inspections for a condo: your private portion, then the common portions, carried out by a building professional mandated by the syndicate. If work remains, the new completion date must not be more than six months after the pre-delivery inspection. Éducaloi also notes that construction workers have up to 30 days after the work ends to register a legal hypothec: discuss it with your notary.
Frequently asked questions
Can I cancel an off-plan condo purchase?
Yes, within 10 days of signing the preliminary contract. If the contract provides a withdrawal indemnity, it cannot exceed 0.5% of the agreed price.
Is my deposit protected if the project falls through?
The Civil Code requires a deposit paid for a divided co-ownership fraction to be fully protected, and returned if the fraction is not delivered on the agreed date, under the conditions set by regulation.
Will my preapproval last until delivery?
Rarely: according to FCAC, a preapproval holds a rate for 60 to 130 days depending on the lender, and does not guarantee the loan. Final financing is negotiated close to delivery.
Does a new condo qualify for 30-year amortization?
For an insured mortgage, yes, since December 15, 2024, if the home has never been occupied; an interim occupancy period before the declaration of co-ownership is registered does not exclude it.
Sources
- Code civil du Québec, art. 1785 à 1793 (LégisQuébec) read 2026-10-08
- GCR — Vérifiez avant de signer read 2026-10-08
- GCR — Foire aux questions (acheteur) read 2026-10-08
- GCR — L’inspection préréception read 2026-10-08
- Éducaloi (organisme d'information juridique) — Acheter un condo sur plan read 2026-10-08
- FCAC — Getting preapproved for a mortgage read 2026-10-08
- Finance Canada — 30 Year Mortgages for First-Time Buyers of New Builds read 2026-10-08
- CMHC — Home Start (newly built, interim occupancy) read 2026-10-08
Talk to a verified real estate lawyer or notary
Payotte lists one verified real estate lawyer or notary per sector, scored out of 100 on public criteria.
See verified lawyers and notariesRelated guides
- New home warranty by province
- Cancelling an accepted offer
- GST/HST on a new home
- Condo status certificate: price and deadlines
Updated
General information, not legal or financial advice. For your situation, consult a notary or a mortgage broker.