The New Home Purchase Agreement is a crucial legal instrument used in Canadian residential real estate transactions involving newly constructed properties. This document is essential when a buyer purchases a home directly from a builder or developer, whether the property is pre-construction, under construction, or recently completed. It must comply with provincial real estate laws, construction regulations, and consumer protection legislation, including mandatory warranty programs. The agreement typically includes detailed specifications of the property, construction standards, completion timelines, warranty provisions, and payment terms. It protects both the buyer's and seller's interests while ensuring transparency and compliance with local building codes and development regulations. This document is particularly important in Canada's active new construction market, where it helps manage the complex relationship between builders and buyers while providing legal safeguards for both parties.
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1. Parties: Identification of the buyer(s) and seller(s) with full legal names and addresses
2. Background: Context of the agreement and brief description of the property being purchased
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Description: Detailed legal description of the property and included fixtures/fittings
5. Purchase Price: Total purchase price, deposit requirements, and payment structure
6. Closing and Completion: Closing date, completion procedures, and conditions precedent
7. Builder Warranties and Representations: Warranties provided by the builder regarding construction quality and compliance
8. Property Inspection: Pre-delivery inspection process and deficiency resolution procedures
9. Title and Ownership: Terms regarding clear title transfer and ownership rights
10. Taxes and Adjustments: Provisions for property taxes, utilities, and other adjustments
11. Insurance and Risk: Requirements for insurance and allocation of risk prior to closing
12. Default and Remedies: Consequences of default by either party and available remedies
13. Notices: How formal communications between parties should be made
14. General Provisions: Standard legal provisions including governing law, assignment, and severability
1. Financing Conditions: Include when buyer requires mortgage financing to complete purchase
2. Construction Schedule: Include for properties still under construction, specifying completion milestones
3. Upgrades and Modifications: Include when buyer has selected custom upgrades or modifications
4. Rental Units: Include if property contains secondary suite or rental unit provisions
5. Environmental Provisions: Include if property requires specific environmental considerations
6. HST Rebate Assignment: Include when HST rebate is being assigned to builder
7. Development Conditions: Include when property is part of a larger development with specific conditions
8. View and Surrounding Development: Include when there are specific representations about views or surrounding development
1. Schedule A - Legal Description: Detailed legal description of the property and lot specifications
2. Schedule B - Floor Plans: Architectural drawings and floor plans of the home
3. Schedule C - Specifications: Detailed construction specifications and included features
4. Schedule D - Upgrades and Extras: List of all upgraded features and extra items with pricing
5. Schedule E - Site Plan: Plan showing property boundaries and location of home on lot
6. Schedule F - Warranty Certificate: New home warranty program details and certificate
7. Schedule G - Payment Schedule: Detailed breakdown of payment milestones and amounts
8. Schedule H - Restrictive Covenants: Any restrictions or covenants that run with the land
9. Appendix 1 - Required Disclosures: Mandatory property disclosure statements
10. Appendix 2 - Construction Timeline: Expected construction and completion schedule
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Banking & Finance
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Property Development
Urban Planning
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Relevant Teams
Legal
Real Estate Sales
Construction Management
Property Development
Compliance
Customer Relations
Quality Assurance
Contract Administration
Finance
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Relevant Roles
Real Estate Lawyer
Construction Manager
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Real Estate Agent
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Sales Director
Construction Site Supervisor
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Quality Control Inspector
Contract Administrator
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