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As Is Purchase Agreement For Home for Canada

As Is Purchase Agreement For Home Template for Canada

This document is a specialized residential real estate purchase agreement used in Canadian jurisdictions for properties being sold in their current condition without warranties. It provides a comprehensive framework for the sale and purchase of residential property while explicitly limiting the seller's warranties and representations. The agreement incorporates specific Canadian legal requirements, including provincial/territorial property laws and disclosure obligations, while clearly documenting the 'as is' nature of the transaction. It includes detailed provisions for property inspection, due diligence, and mandatory disclosures, even within the context of an 'as is' sale.

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As Is Purchase Agreement For Home

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What is a As Is Purchase Agreement For Home?

The As Is Purchase Agreement For Home is a specialized legal document designed for residential real estate transactions in Canada where the property is being sold in its current condition without traditional warranties or representations. This type of agreement is particularly useful when selling older properties, estates, foreclosures, or properties where the seller has limited knowledge of the property's condition. While the agreement limits seller warranties, it still maintains compliance with Canadian federal and provincial disclosure requirements. The document includes essential elements such as property description, purchase price, closing terms, and specific provisions addressing the 'as is' nature of the sale. It's commonly used in situations where the seller wants to limit post-sale liability and the buyer accepts greater responsibility for assessing the property's condition.

What sections should be included in a As Is Purchase Agreement For Home?

1. Parties: Identifies and provides full legal names and addresses of the seller and purchaser

2. Background: Establishes the context of the sale and confirms the seller's ownership of the property

3. Definitions: Defines key terms used throughout the agreement

4. Property Description: Detailed legal description of the property including address, lot number, and registered plan details

5. Purchase Price and Deposit: Specifies the total purchase price, deposit amount, and payment terms

6. 'As Is' Condition and Acknowledgment: Explicitly states that the property is being sold 'as is' and details the implications of this condition

7. Required Disclosures: Mandatory disclosures of known material defects, despite 'as is' nature of sale

8. Inspections and Due Diligence: Buyer's right to inspect and investigate the property condition

9. Closing Date and Possession: Specifies the closing date and terms of possession transfer

10. Closing Adjustments: Details adjustments for property taxes, utilities, and other pro-rated items

11. Title and Ownership: Confirms requirements for clear title and handling of title transfer

12. Representations and Warranties: Limited representations and warranties given the 'as is' nature

13. Default and Remedies: Consequences of default by either party and available remedies

14. Notices: How formal notices between parties must be given

15. General Provisions: Standard contract clauses including governing law, entire agreement, and amendments

What sections are optional to include in a As Is Purchase Agreement For Home?

1. Financing Conditions: Include when buyer requires mortgage financing to complete purchase

2. Sale of Existing Home: Include when purchase is conditional on buyer selling their current property

3. Rental Equipment: Include when property includes rented equipment (e.g., water heater, security system)

4. Tenant Rights: Include when property is sold with existing tenants

5. Swimming Pool/Hot Tub: Include when property includes these features requiring specific disclosures

6. Heritage Property Provisions: Include for properties with heritage designation

7. Environmental Concerns: Include when property has known environmental issues

8. Condominium Provisions: Include if property is a condominium unit

What schedules should be included in a As Is Purchase Agreement For Home?

1. Schedule A - Property Details: Comprehensive description of property including lot size, boundaries, and improvements

2. Schedule B - Included Chattels: List of all movable items included in the sale

3. Schedule C - Excluded Fixtures: List of attached items that are not included in the sale

4. Schedule D - Known Defects: Disclosure of known defects or material issues with the property

5. Schedule E - Recent Improvements: List of improvements made to the property in recent years

6. Schedule F - Property Inspection Report: Attached if pre-listing inspection was conducted

7. Schedule G - Property Survey: Current survey of the property if available

8. Schedule H - Photographs: Current dated photographs of property condition

9. Appendix 1 - Property Disclosure Statement: Standard form disclosure of property condition and history

10. Appendix 2 - Title Search Results: Current title search showing encumbrances and restrictions

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Canada

Publisher

Ƶ

Document Type

Purchase Agreement

Cost

Free to use
Relevant legal definitions








































Clauses
































Relevant Industries

Real Estate

Legal Services

Financial Services

Insurance

Property Management

Construction

Home Inspection

Mortgage Lending

Title Services

Municipal Government

Relevant Teams

Legal

Real Estate

Compliance

Risk Management

Property Management

Contract Administration

Document Control

Due Diligence

Title Services

Mortgage Services

Relevant Roles

Real Estate Agent

Real Estate Broker

Real Estate Lawyer

Property Manager

Mortgage Broker

Title Officer

Home Inspector

Real Estate Paralegal

Conveyancing Clerk

Legal Counsel

Contract Administrator

Risk Manager

Compliance Officer

Real Estate Investment Manager

Property Assessor

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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