The Short Form Real Estate Purchase Agreement is a fundamental document used in Canadian real estate transactions where a comprehensive but concise agreement is appropriate. It is particularly suitable for straightforward property transactions where standard terms and conditions apply. This document type incorporates all legally required elements for a valid real estate transaction in Canada while maintaining accessibility and clarity for all parties involved. It includes essential provisions for property transfer, payment terms, conditions precedent, and closing requirements, while allowing for customization through optional clauses and schedules as needed. The agreement complies with provincial property laws and federal regulations, including recent requirements such as the Foreign Buyer Ban Act, making it suitable for both residential and simple commercial property transactions in the Canadian market.
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1. Parties: Identification of the Seller and Buyer with full legal names and addresses
2. Background: Brief context of the transaction and confirmation of Seller's ownership
3. Definitions: Key terms used throughout the agreement
4. Property Description: Legal description and municipal address of the property being sold
5. Purchase Price: Amount, deposit details, and payment terms
6. Closing Date: Date of completion of the transaction and transfer of ownership
7. Representations and Warranties: Basic statements about property ownership, authority to sell, and property condition
8. Conditions Precedent: Essential conditions that must be met before closing
9. Closing Requirements: Documents and actions required to complete the transaction
10. Default and Remedies: Consequences of breach by either party
11. Notices: How formal communications between parties should be made
12. General Provisions: Standard contract clauses including governing law and entire agreement
1. Tenant Rights: Required if property is currently tenanted, addressing existing lease agreements
2. Fixtures and Chattels: Used when specific items are included or excluded from the sale
3. Property Management: Required for properties with ongoing management needs until closing
4. HST/GST Provisions: Required for new construction or commercial properties
5. Financing Conditions: Used when purchase is conditional on buyer obtaining mortgage financing
6. Home Inspection: Used when purchase is conditional on satisfactory home inspection
7. Foreign Buyer Compliance: Required when addressing compliance with the Foreign Buyer Ban Act
1. Schedule A - Legal Description: Detailed legal description of the property
2. Schedule B - Included Items: List of fixtures and chattels included in the purchase
3. Schedule C - Excluded Items: List of items specifically excluded from the sale
4. Schedule D - Existing Tenancies: Details of current lease agreements if applicable
5. Schedule E - Property Condition Disclosure: Seller's disclosure of known property conditions
6. Appendix 1 - Property Survey: Current survey of the property if available
7. Appendix 2 - Title Search: Results of title search and any encumbrances
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Residential Property
Commercial Property
Property Development
Banking and Finance
Legal Services
Insurance
Property Management
Construction
Professional Services
Relevant Teams
Legal
Real Estate
Property Management
Acquisitions
Sales
Compliance
Finance
Administration
Investment
Risk Management
Relevant Roles
Real Estate Agent
Real Estate Broker
Property Lawyer
Conveyancing Lawyer
Property Manager
Real Estate Developer
Mortgage Broker
Title Insurance Officer
Real Estate Investment Manager
Property Acquisition Manager
Legal Counsel
Compliance Officer
Real Estate Administrator
Property Sales Coordinator
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