The New Construction Purchase And Sale Agreement is a specialized legal document used in Canadian real estate transactions involving newly built properties. It is essential when a purchaser is buying a property that is either under construction or yet to be built. This agreement differs from standard real estate purchase agreements as it must address construction-specific elements such as building specifications, completion timelines, and warranty provisions. The document is designed to comply with provincial and federal regulations governing new home construction, including mandatory warranty programs and construction standards. It provides crucial protection for both the developer/builder and the purchaser by clearly defining responsibilities, construction specifications, payment schedules, and remedies for potential issues. This agreement is particularly important in the Canadian context, where new construction is subject to strict regulatory oversight and consumer protection measures.
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1. Parties: Identification of the seller (builder/developer) and purchaser with full legal names and addresses
2. Background: Context of the transaction, including property development details and purpose of the agreement
3. Definitions: Defined terms used throughout the agreement
4. Property Description: Detailed description of the property including legal description, lot number, and development details
5. Purchase Price: Total purchase price, deposit structure, and payment schedule
6. Construction Specifications: Building specifications, materials, and quality standards
7. Construction Timeline: Expected completion date, construction milestones, and related obligations
8. Warranties and Representations: Builder's warranties, statutory warranties, and representations by both parties
9. Closing Conditions: Conditions precedent to closing, including financing and inspections
10. Closing Procedures: Process and requirements for closing the transaction
11. Title and Ownership: Title transfer provisions and requirements
12. Default and Remedies: Consequences of default by either party and available remedies
13. Risk and Insurance: Allocation of risk and insurance requirements during construction
14. Notices: Communication requirements and contact information
15. General Provisions: Standard contract clauses including governing law, amendments, and assignment
1. Upgrade Selections: Details of any upgrades or customizations selected by the purchaser
2. Rental Pool Agreement: For properties in developments with rental management programs
3. Environmental Provisions: Special environmental requirements or certifications
4. HST Rebate Assignment: Assignment of HST New Housing Rebate where applicable
5. Temporary Occupancy: Terms for interim occupancy before final closing if required
6. Property Management: For properties within managed communities or condominiums
7. Foreign Buyer Provisions: Additional requirements for non-resident purchasers
8. Development-Specific Restrictions: Special covenants or restrictions specific to the development
1. Schedule A - Legal Description: Detailed legal description of the property and development
2. Schedule B - Floor Plans: Architectural drawings and unit layout
3. Schedule C - Standard Features and Finishes: Detailed list of included features and specifications
4. Schedule D - Construction Specifications: Detailed construction standards and materials
5. Schedule E - Site Plan: Development site plan showing lot location and common elements
6. Schedule F - Payment Schedule: Detailed breakdown of payment milestones
7. Schedule G - Warranty Certificate: New home warranty program details and certificates
8. Schedule H - Permitted Encumbrances: List of allowed encumbrances on title
9. Appendix 1 - Construction Timeline: Detailed construction schedule and milestones
10. Appendix 2 - Upgrade Selections: Detailed list of selected upgrades and customizations
11. Appendix 3 - Development Disclosure Statement: Required disclosures under real estate development laws
Relevant legal definitions
Clauses
Relevant Industries
Real Estate Development
Construction
Legal Services
Financial Services
Property Management
Insurance
Architecture and Design
Urban Planning
Environmental Services
Building Materials and Supply
Relevant Teams
Legal
Real Estate Development
Construction Management
Sales
Compliance
Property Management
Contract Administration
Quality Assurance
Customer Relations
Project Management
Relevant Roles
Real Estate Developer
Construction Project Manager
Real Estate Lawyer
Property Sales Manager
Contracts Administrator
Development Director
Construction Site Supervisor
Legal Counsel
Real Estate Agent
Mortgage Broker
Compliance Officer
Sales Director
Development Manager
Building Inspector
Warranty Administrator
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