The Amendment To Agreement Of Purchase And Sale is a crucial document in Canadian real estate transactions when circumstances require modifications to an existing purchase agreement. It's commonly used when parties need to adjust terms such as purchase price, closing dates, conditions, or property specifications after the original agreement has been signed but before the transaction closes. This document must conform to provincial real estate laws and regulations, ensuring all changes are properly documented and legally binding. It's particularly important in situations involving complex real estate transactions, multiple stakeholders, or when market conditions or other circumstances necessitate changes to the original terms. The amendment must be executed with the same formality as the original agreement and typically requires legal review to ensure compliance with Canadian contract law principles.
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1. Parties: Identification of all parties to the original agreement, including full legal names and addresses
2. Background: Reference to the original Agreement of Purchase and Sale, including its date and subject property details
3. Definitions: Key terms used in the amendment, including reference to definitions from the original agreement
4. Amendment Details: Specific modifications to the original agreement, clearly stating what is being changed, added, or removed
5. Confirmation of Other Terms: Statement confirming all other terms and conditions of the original agreement remain unchanged and in full force and effect
6. Effective Date: The date when the amendment becomes effective
7. Execution: Signature blocks for all parties, witnesses, and dates of signing
1. Consideration: Required if there are changes to the purchase price or other financial terms
2. Conditions Precedent: Include if there are new conditions that must be met before the amendment takes effect
3. Representations and Warranties: Include if there are new or modified representations being made by either party
4. Time Extension Provisions: Include if the amendment involves changes to closing dates or other timeline modifications
5. Broker/Agent Acknowledgment: Include if real estate agents are involved and need to acknowledge the changes
1. Schedule A - Modified Terms: Detailed listing of specific terms being modified, with original and new language
2. Schedule B - Property Details: If amendments affect property details, include updated property description or specifications
3. Schedule C - Price Adjustments: If purchase price is modified, detailed breakdown of price changes and payment terms
4. Appendix 1 - Supporting Documents: Any relevant supporting documentation referenced in the amendment
5. Appendix 2 - Consent Forms: Any required third-party consent forms related to the amendments
Relevant legal definitions
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Real Estate
Residential Property
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Banking and Finance
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Property Management
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Legal
Real Estate
Compliance
Risk Management
Property Operations
Acquisitions
Corporate Development
Contract Administration
Transaction Management
Document Control
Relevant Roles
Real Estate Lawyer
Property Manager
Real Estate Agent
Real Estate Broker
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Contract Administrator
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Title Examiner
Compliance Officer
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