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New Home Sales Contract
"I need a New Home Sales Contract for a luxury property development in Vancouver, British Columbia, with specific provisions for custom finishes and a phased completion schedule extending through March 2025."
1. Parties: Identification of the Vendor/Builder and Purchaser(s), including full legal names and addresses
2. Background: Context of the agreement, including property development details and builder's credentials
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Description: Legal description of the property and lot details
5. Purchase Price: Total purchase price, deposit structure, and payment schedule
6. Closing Details: Closing date, conditions, and requirements for closing
7. Construction Specifications: Overview of construction standards and materials to be used
8. Warranties and Representations: Statutory and additional warranties provided by the builder
9. Purchaser's Covenants: Obligations and commitments of the purchaser
10. Vendor's Covenants: Obligations and commitments of the vendor
11. Title and Ownership: Details about property title transfer and ownership conditions
12. Default and Remedies: Consequences of default by either party and available remedies
13. Notices: How formal communications between parties should be made
14. General Provisions: Standard contract clauses including governing law, assignment, and entire agreement
1. Financing Conditions: Used when purchaser requires mortgage financing to complete the purchase
2. HST Rebate Assignment: Required when the purchaser is assigning their HST New Housing Rebate to the vendor
3. Rental Items: Used when certain items in the home (e.g., water heater, HVAC) are rental units
4. Investment Property Clause: Required when property is purchased as an investment rather than primary residence
5. Construction Delay Provisions: Enhanced provisions for possible construction delays and remedies
6. Secondary Suite Provisions: Used when the property includes a legal secondary suite
7. Premium Lot Conditions: Special conditions for premium lots (corner lots, ravine lots, etc.)
8. Pre-Construction Purchase Provisions: Additional terms specific to purchases made before construction begins
1. Schedule A - Site Plan: Detailed plan showing lot location, dimensions, and positioning of the home
2. Schedule B - Floor Plans and Specifications: Detailed architectural plans and construction specifications
3. Schedule C - Standard Features and Finishes: List of included features, materials, and finishes
4. Schedule D - Terms of Payment: Detailed breakdown of payment structure and timing
5. Schedule E - Warranty Information: Detailed warranty terms and coverage
6. Schedule F - Selected Upgrades and Options: List of any upgrades or options selected by the purchaser
7. Schedule G - Construction Schedule: Expected timeline for various construction phases
8. Schedule H - Homeowner Information Package: Required statutory information package for new home buyers
9. Appendix 1 - Color Selection Form: Purchaser's selections for colors and finishes
10. Appendix 2 - Site-Specific Conditions: Any special conditions related to the specific lot or development
Authors
Real Estate
Construction
Legal Services
Banking and Finance
Insurance
Property Development
Urban Planning
Construction Materials
Home Warranty Services
Legal
Sales
Construction Management
Real Estate
Compliance
Customer Service
Project Management
Quality Assurance
Documentation
Property Development
Real Estate Lawyer
Construction Manager
Real Estate Agent
Property Developer
Sales Manager
Compliance Officer
Contract Administrator
Project Manager
Building Inspector
Warranty Administrator
Real Estate Broker
Construction Supervisor
Legal Counsel
Sales Director
Customer Service Manager
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