The Private Home Sale Contract is a fundamental legal document used in Canadian real estate transactions when a property owner wishes to sell their residential property to a buyer. This document is essential for both private sales and those involving real estate agents, ensuring all aspects of the property transfer are properly documented and legally binding. It must comply with federal regulations and specific provincial requirements, particularly regarding property transfer, title registration, and mandatory disclosures. The contract includes crucial elements such as property description, purchase price, deposit terms, closing conditions, warranties, and various contingencies. It's designed to protect both parties' interests while ensuring transparency and legal compliance throughout the transaction process. This document is particularly important in private sales where standard realtor forms might not be used, requiring additional attention to detail and legal thoroughness.
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1. Parties: Identification and contact details of the seller and purchaser
2. Background: Context of the sale and confirmation that the seller owns the property and wishes to sell to the purchaser
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Description: Detailed legal description of the property including address, lot number, and property boundaries
5. Purchase Price: Agreed purchase price, deposit amount, and payment terms
6. Deposit: Details of the deposit amount, when it's due, and how it will be held
7. Closing: Closing date, time, and location for the completion of the sale
8. Title and Ownership: Seller's warranties regarding clear title and process for title transfer
9. Seller's Representations and Warranties: Standard warranties about property condition, ownership, and any known issues
10. Purchaser's Representations and Warranties: Confirmations regarding financing and ability to complete the purchase
11. Conditions Precedent: Conditions that must be met before the sale can close
12. Closing Adjustments: How property taxes, utilities, and other expenses will be prorated
13. Default and Remedies: What happens if either party fails to fulfill their obligations
14. Notices: How formal communications between parties should be made
15. General Provisions: Standard legal clauses including governing law, amendments, and severability
1. Financing Conditions: Used when the purchase is contingent on the buyer securing mortgage financing
2. Home Inspection: Include when the sale is conditional on a satisfactory home inspection
3. Tenant Rights: Required if the property is currently tenanted or has existing lease agreements
4. Swimming Pool/Hot Tub: Special provisions for properties with these features
5. Inclusions and Exclusions: Detailed list of items included/excluded in the sale if different from standard fixtures
6. Property Management: Required for properties in managed communities or condominiums
7. Environmental Concerns: Include if there are known environmental issues or special requirements
8. Bridge Financing: Include if the purchase depends on the sale of another property
1. Schedule A - Property Details: Detailed property description, including lot size, boundaries, and legal description
2. Schedule B - Fixtures and Chattels: Comprehensive list of items included and excluded from the sale
3. Schedule C - Property Disclosure Statement: Seller's disclosure of known issues or defects with the property
4. Schedule D - Title Search Results: Results of title search showing ownership and any encumbrances
5. Schedule E - Property Survey: Current survey of the property showing boundaries and structures
6. Schedule F - Inspection Reports: Results of any property inspections
7. Schedule G - Environmental Assessments: Any environmental reports or assessments
8. Appendix 1 - Proof of Deposits: Documentation of deposit payments
9. Appendix 2 - Required Repairs: List of agreed repairs to be completed before closing
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