The As Is Residential Contract For Sale And Purchase is a specialized legal document used in Canadian real estate transactions where the buyer agrees to purchase the property in its existing condition, without warranties or representations from the seller regarding the property's condition. This type of agreement is particularly useful for properties that may require renovation, have known issues, or where the seller wishes to limit their post-sale liability. The document includes comprehensive provisions covering the property's legal description, purchase price, closing requirements, and explicit acknowledgments from the buyer regarding the property's condition. It must comply with provincial real estate laws and regulations while protecting both parties' interests in the transaction. The agreement is commonly used in situations involving estate sales, foreclosures, or when selling older properties where the full condition may not be known to the seller.
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1. Parties: Identifies and provides full legal names and addresses of the buyer and seller
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 including 'As Is', 'Closing Date', and 'Property'
4. Property Description: Detailed legal description of the property being sold
5. Purchase Price and Payment Terms: Specifies the agreed purchase price, deposit requirements, and payment structure
6. As Is Condition and Buyer Acknowledgment: Explicitly states the 'as is' nature of the sale and buyer's acceptance of the property's current condition
7. Closing Date and Possession: Specifies the closing date and arrangements for transfer of possession
8. Title and Land Registration: Details regarding title transfer and registration requirements
9. Seller's Representations: Limited representations regarding ownership and authority to sell
10. Property Inspection: Buyer's right to inspect and time frame for inspections
11. Closing Deliverables: Lists documents and items to be delivered at closing by both parties
12. Default and Remedies: Consequences of default by either party and available remedies
13. Notices: How and where formal notices must be delivered
14. General Provisions: Standard contract clauses including governing law, entire agreement, and amendments
1. Financing Condition: Used when buyer requires mortgage financing to complete the purchase
2. Sale of Buyer's Property: Included when purchase is conditional on buyer selling their existing property
3. Rental Property Provisions: Required if property includes tenant-occupied units
4. Chattels and Fixtures: Detailed when specific items are included or excluded from the sale
5. Environmental Matters: Added when there are known environmental issues or concerns
6. Swimming Pool/Hot Tub Provisions: Include when property includes these features
7. Condominium Provisions: Required if the property is a condominium unit
8. Heritage Property Provisions: Needed if property has heritage designation
9. Well and Septic Provisions: Include for properties with private water and sewage systems
1. Schedule A - Property Legal Description: Detailed legal description of the property including lot size, boundaries, and registered easements
2. Schedule B - Permitted Encumbrances: List of accepted liens, easements, and encumbrances that will remain on title
3. Schedule C - Property Condition Disclosure: Seller's disclosure of known property conditions and defects
4. Schedule D - Included/Excluded Items: Detailed list of items included and excluded from the sale
5. Schedule E - Property Inspection Report: Findings from property inspection (if completed)
6. Schedule F - Environmental Assessment: Results of any environmental testing or known environmental issues
7. Schedule G - Title Search Results: Summary of title search findings and any title issues
8. Schedule H - Survey or Real Property Report: Property survey or real property report showing boundaries and improvements
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