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Wholesale Real Estate Contract
"I need a Wholesale Real Estate Contract for a commercial property in Ontario, with a 45-day assignment period and the ability to assign the contract up to two times before March 2025, including specific provisions for environmental due diligence and tenant notifications."
1. Parties: Identification of all parties involved: Original Seller, Wholesaler (Initial Buyer), and End Buyer
2. Background: Context of the transaction, including the intention to wholesale the property
3. Definitions: Key terms used throughout the agreement, including property-specific and wholesale-related terminology
4. Property Details: Comprehensive description of the subject property, including legal description and current condition
5. Purchase Price and Payment Terms: Details of the purchase price, deposit requirements, and payment structure
6. Assignment Rights and Conditions: Explicit rights and conditions for assigning the contract to an end buyer
7. Due Diligence Period: Timeframe and conditions for property inspection, title review, and other investigations
8. Closing Conditions: Conditions that must be met before the transaction can close
9. Closing Date and Possession: Specified closing date and terms of possession transfer
10. Representations and Warranties: Statements of fact and promises made by each party regarding the property and transaction
11. Default and Remedies: Consequences and available remedies if either party defaults
12. Notices: How and where formal communications between parties should be delivered
13. Governing Law: Specification of Canadian law and relevant provincial jurisdiction
14. Execution: Signature blocks and execution requirements for all parties
1. Financing Contingency: Include when the transaction depends on the end buyer obtaining financing
2. Property Management: Include when the property is tenant-occupied or requires interim management
3. Environmental Conditions: Include when there are known or suspected environmental issues
4. Renovation/Repair Requirements: Include when specific repairs or renovations are part of the agreement
5. Multiple Assignment Rights: Include when allowing for multiple assignments or wholesale transfers
6. Commission Structure: Include when real estate agents are involved in the transaction
7. Holdback Provisions: Include when part of the purchase price needs to be held in escrow
8. First Right of Refusal: Include when granting original seller right to match end buyer's offer
1. Schedule A - Property Description: Detailed legal description and property boundaries
2. Schedule B - Purchase Price Breakdown: Detailed breakdown of purchase price, wholesale fee, and payment structure
3. Schedule C - Due Diligence Documents: List of required documentation and inspection reports
4. Schedule D - Property Condition Report: Detailed assessment of property condition and known issues
5. Schedule E - Assignment Agreement: Specific terms and conditions for the assignment to end buyer
6. Schedule F - Permitted Encumbrances: List of accepted liens, easements, or encumbrances
7. Appendix 1 - Property Photos: Current photographs of the property
8. Appendix 2 - Required Disclosures: Mandatory disclosures required by provincial law
9. Appendix 3 - Title Documents: Relevant title documentation and search results
Authors
Real Estate
Property Development
Construction
Legal Services
Financial Services
Property Management
Real Estate Investment
Real Estate Brokerage
Property Inspection Services
Legal
Real Estate Operations
Property Acquisitions
Investment
Contract Administration
Due Diligence
Transaction Management
Risk Management
Compliance
Property Management
Real Estate Investor
Property Developer
Real Estate Agent
Real Estate Broker
Real Estate Lawyer
Investment Manager
Property Acquisition Manager
Contract Administrator
Legal Counsel
Transaction Coordinator
Investment Analyst
Property Portfolio Manager
Escrow Officer
Title Officer
Real Estate Investment Consultant
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