¶¶Òõ¶ÌÊÓƵ

The Cash Sale Real Estate Contract is a specialized agreement used in Canadian real estate transactions where the buyer purchases property without mortgage financing. This document is particularly relevant in scenarios involving cash-rich buyers, investment purchases, or situations requiring quick closing. The contract includes comprehensive provisions for property transfer, including legal description, purchase price, closing conditions, and title requirements, all compliant with Canadian federal and provincial real estate laws. It differs from standard real estate contracts by excluding financing contingencies and typically allowing for faster closing timeframes. The document is essential for protecting both parties' interests in cash-based real estate transactions, ensuring clear documentation of terms and conditions while meeting all legal requirements for property transfer in Canadian jurisdictions.

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

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

3. Definitions: Defines key terms used throughout the agreement for clarity and consistency

4. Property Description: Detailed legal description of the real estate being sold, including municipal address and legal description

5. Purchase Price: States the total purchase price and details of how and when payment is to be made

6. Deposit: Specifies the amount, payment timing, and handling of the deposit

7. Title and Ownership: Addresses title quality, ownership transfer, and any encumbrances

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

9. Property Condition: Details the condition in which the property will be delivered

10. Representations and Warranties: Standard representations by both parties regarding authority, title, and property condition

11. Closing Requirements: Lists documents and actions required from each party at closing

12. Property Adjustments: Addresses prorating of taxes, utilities, and other expenses

13. Risk and Insurance: Allocates risk and insurance responsibilities before closing

14. Default and Remedies: Specifies consequences of default by either party

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