The Purchase And Sale Agreement For House is a fundamental legal document used in Canadian residential real estate transactions to formalize property transfers between sellers and buyers. This comprehensive agreement is essential for any residential property sale in Canada, incorporating both federal requirements and specific provincial regulations that govern real estate transactions. The document typically includes detailed information about the property, purchase price, deposit requirements, closing conditions, warranties, and various other terms that protect both parties' interests. It must comply with provincial real estate laws, the Land Registration Reform Act, and other relevant legislation such as the Foreign Buyer Ban Act where applicable. The agreement serves as the primary reference point for all parties involved in the transaction, including real estate agents, lawyers, and financial institutions, and forms the basis for the eventual transfer of property ownership.
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1. Parties: Identifies and provides full legal names and addresses of the seller(s) and purchaser(s)
2. Background: Establishes the context of the agreement, including the parties' intention to enter into a real estate transaction
3. Definitions: Defines key terms used throughout the agreement for clarity and legal certainty
4. Property Description: Detailed legal description of the property including address, boundaries, and land registry details
5. Purchase Price: Specifies the total purchase price and payment structure, including deposit amounts and payment schedules
6. Deposit: Details regarding the deposit amount, payment timing, and handling of funds in trust
7. Closing Date: Specifies the date of closing and conditions for any extensions or modifications
8. Title: Warranties and representations regarding clear title and process for title search and insurance
9. Property Inspection: Terms and conditions for property inspection, timing, and implications of inspection results
10. Conditions Precedent: Lists all conditions that must be met before the agreement becomes firm, including financing and inspection conditions
11. Representations and Warranties: Statements of fact by the seller regarding the property's condition and legal status
12. Included and Excluded Items: Detailed list of fixtures and chattels included or excluded from the sale
13. Adjustments: Process for adjusting taxes, utilities, rent, and other expenses as of closing date
14. Closing Procedures: Details of closing process, including documentation requirements and funds transfer
15. Default: Consequences and remedies in case either party defaults on their obligations
16. Notices: Process and requirements for formal communications between parties
17. General Provisions: Standard legal provisions including governing law, entire agreement, and amendment procedures
1. Rental Properties: Required when the property includes tenant-occupied units, detailing lease assignments and tenant rights
2. Swimming Pool/Hot Tub Compliance: Required when property includes these features, addressing safety and compliance requirements
3. Heritage Property Provisions: Required for properties designated as heritage buildings, including maintenance and modification restrictions
4. Environmental Matters: Added when there are known environmental issues or requirements for environmental assessment
5. Condominium Provisions: Required for condominium properties, including status certificate review and common element details
6. Multiple Unit Properties: Required when property contains multiple dwelling units, addressing specific requirements for each unit
7. New Construction: Required for newly built homes, including warranty information and completion requirements
8. Foreign Buyer Provisions: Required when purchaser is not a Canadian resident, addressing compliance with foreign buyer regulations
9. Seller Financing: Required when seller is providing financing for part of the purchase price
10. Home Business Provisions: Required when property includes an existing permitted home business use
1. Schedule A - Legal Description: Detailed legal description of the property from land registry
2. Schedule B - Included Chattels: Itemized list of movable items included in the sale
3. Schedule C - Excluded Items: Itemized list of items specifically excluded from the sale
4. Schedule D - Special Conditions: Any additional terms and conditions specific to this transaction
5. Schedule E - Property Disclosure Statement: Seller's disclosure of known property issues and conditions
6. Schedule F - Title Exceptions: List of permitted encumbrances and title restrictions
7. Appendix 1 - Property Survey: Current survey showing property boundaries and structures
8. Appendix 2 - Floor Plans: Detailed plans showing layout of buildings on the property
9. Appendix 3 - Environmental Reports: Any environmental assessments or reports
10. Appendix 4 - Building Permits: Copies of relevant building permits and inspections
Relevant legal definitions
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Relevant Industries
Real Estate
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Financial Services
Insurance
Property Development
Construction
Banking
Property Management
Professional Services
Public Sector
Relevant Teams
Legal
Real Estate
Property Management
Compliance
Risk Management
Document Processing
Transaction Processing
Customer Relations
Business Development
Administrative Support
Relevant Roles
Real Estate Agent
Real Estate Broker
Real Estate Lawyer
Property Lawyer
Mortgage Specialist
Property Manager
Title Examiner
Conveyancer
Real Estate Paralegal
Closing Coordinator
Real Estate Transaction Manager
Property Inspector
Real Estate Compliance Officer
Legal Document Specialist
Real Estate Administrator
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