Signing a purchase offer in Quebec is a serious legal act. Depending on the timing and conditions included, you can walk away freely or face significant financial consequences. This guide details your rights under OACIQ rules and Quebec’s Civil Code.
1. Before the seller accepts
As long as the seller has not signed and accepted your purchase offer, you can withdraw it at any time, at no cost and without justification. The purchase offer remains a unilateral offer until acceptance.
The reception deadline is the period during which the seller can accept your offer. This deadline is set by the buyer in the OACIQ form (typically 24 to 72 hours). After this deadline, the offer expires automatically.
Free withdrawal
Before acceptance, send a written notice to your broker or directly to the seller. No penalty.
Expired deadline
If the seller has not responded within the reception deadline, the offer expires automatically. You are free.
Counter-offer
If the seller makes a counter-offer, your initial offer is considered rejected. You can accept, negotiate, or refuse without consequence.
For everything you need to know about purchase offers, read our complete guide to purchase offers in Quebec.
2. Resolutory conditions
Even after the purchase offer is accepted, you can withdraw without penalty if a resolutory condition is not satisfied within the agreed timeline. Here are the three most common conditions in the OACIQ form:
| Clause | Purpose | Typical deadline |
|---|---|---|
| C4.1 – Inspection | Satisfactory pre-purchase inspection by a certified inspector | 7 to 14 days |
| C5.1 – Financing | Obtaining a mortgage under the specified conditions | 15 to 30 days |
| C6.1 – Property sale | Sale of the buyer’s current property | 30 to 90 days |
If the inspection reveals major defects, you can invoke clause C4.1 to cancel the transaction. Learn more in our guide to the inspection clause.
3. After unconditional acceptance
Once the purchase offer is accepted by the seller and all resolutory conditions have been waived (or if none were included), the offer becomes a binding commitment. You are legally bound to the transaction.
Quebec’s Civil Code (art. 1590) provides that the creditor (the seller) can demand forced execution of the contract or claim damages. There is no legal cooling-off period after acceptance of a residential purchase offer in Quebec.
Important: unlike France or Ontario, Quebec does not provide any cooling-off period after signing a residential purchase offer between private parties.
4. Cost of backing out
Backing out of an accepted unconditional purchase offer can lead to significant financial consequences. Here is a typical scenario.
Scenario: backing out after firm acceptance
• Deposit paid to broker: $15,000
• Legal fees (lawyer/notary): $3,000 to $8,000
• Potential damages: variable
• Typical deposit in Quebec: $5,000 to $25,000
Estimated total cost of backing out
• Lost deposit: $15,000
• Legal fees: $3,000 to $8,000
• Potential damages (resale price difference): variable
→ Minimum cost: $18,000 to $23,000 + possible lawsuit
Backing out costs a minimum of $18,000 to $23,000 (deposit + legal fees). If the seller resells at a lower price, they can sue for the price difference as damages.
5. How to protect yourself
Always include resolutory conditions in your purchase offer. The inspection (C4.1) and financing (C5.1) clauses are essential and provide you with a legitimate exit.
Set realistic deadlines for each condition. A deadline that is too short may force you to waive an important condition. Allow at least 10 days for inspection and 21 days for financing.
Never sign an unconditional purchase offer unless you are absolutely certain about your financing and the property’s condition. An OACIQ-certified real estate broker can guide you in drafting clauses to maximize your protection.
Obtain a mortgage pre-approval before making an offer. This significantly reduces the risk of having to back out due to financing refusal.
Get expert guidance to protect your purchase offer.
Find a broker →