The Pre-Sale Agreement Property is a crucial document in Canadian real estate development that facilitates the sale of properties before their construction is completed. It serves as the primary contract between developers and purchasers, typically used in new construction projects ranging from residential condominiums to commercial developments. This agreement must comply with strict provincial regulations, particularly regarding disclosure requirements, deposit protection, and consumer rights. The document includes comprehensive details about the property specifications, payment terms, construction timelines, and completion obligations. It is designed to protect both the developer's interests in securing advance sales and the purchaser's interests in ensuring the delivery of the promised property. The agreement must incorporate all mandatory provisions required by provincial real estate development marketing laws and consumer protection legislation.
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1. Parties: Identification of the Developer/Seller and Purchaser with full legal names and addresses
2. Background: Context of the development project, property details, and purpose of the agreement
3. Definitions: Detailed definitions of key terms used throughout the agreement
4. Property Description: Detailed description of the property including unit number, floor plan, parking, storage and anticipated square footage
5. Purchase Price: Total purchase price, deposit structure, and payment schedule
6. Deposit Protection: Details of how the deposit will be held in trust and protected
7. Construction and Completion: Expected completion date, construction milestones, and outside date for completion
8. Purchaser's Obligations: All obligations of the purchaser including payment terms and cooperation requirements
9. Seller's Obligations: All obligations of the seller including construction and completion requirements
10. Closing Procedures: Detailed procedures for closing, including documentation and timing requirements
11. Adjustments and Closing Costs: Details of adjustments to be made at closing and allocation of closing costs
12. Warranties: New home warranty details and any additional warranties provided
13. Default and Remedies: Consequences of default by either party and available remedies
14. Assignment: Terms and conditions for assignment of the purchase agreement
15. Notices: How and where notices must be delivered between parties
16. General Provisions: Standard contract clauses including entire agreement, severability, and governing law
1. Financing Arrangements: Include when developer is offering or arranging financing options
2. Rental Pool Agreement: Include when the development offers a rental pool program
3. Foreign Buyer Provisions: Include when purchaser is a foreign buyer subject to additional requirements
4. GST/HST Elections: Include when there are specific GST/HST elections or arrangements
5. Pre-Authorized Payment Plan: Include when offering installment payment options
6. Property Management: Include when development includes mandatory property management services
7. View and Use Restrictions: Include when there are specific view guarantees or use restrictions
1. Schedule A - Property Specifications: Detailed specifications of the unit including floor plan, finishes, and included features
2. Schedule B - Site Plan: Plan showing location of unit within development and common areas
3. Schedule C - Disclosure Statement: Mandatory disclosure statement as required by provincial legislation
4. Schedule D - Construction Standards: Detailed construction specifications and quality standards
5. Schedule E - Permitted Encumbrances: List of permitted encumbrances that will remain on title
6. Schedule F - Unit Layout: Detailed unit floor plan with measurements
7. Schedule G - Common Area Specifications: Details of common areas and facilities
8. Schedule H - Warranties: Detailed warranty terms and conditions
9. Appendix 1 - Payment Schedule: Detailed schedule of all required payments and due dates
10. Appendix 2 - Statutory Declarations: Required statutory declarations and notices
Relevant legal definitions
Acceptance Date
Adjustment Date
Amenities
Approved Plans
Architect
Assignment
Building
Business Day
Closing
Closing Date
Common Elements
Common Expenses
Completion
Construction Lender
Construction Schedule
Consultant
Contract Deposit
Developer
Development
Disclosure Statement
Dwelling Unit
Effective Date
Eligible GST Rebate
Encumbrances
Escrow Agent
Estimated Occupancy Date
Final Closing
Final Plans
Finishing Specifications
Force Majeure
GST/HST
Improvements
Interim Occupancy
Land
Lending Institution
Limited Common Property
Material Change
Mortgage Commitment
Municipal Address
Occupancy Permit
Outside Date
Parking Unit
Permitted Encumbrances
Plans and Specifications
Project
Property
Property Tax
Purchase Price
Purchaser
Real Estate Agent
Registration Date
Required Deposit
Sales Office
Seller
Statement of Adjustments
Storage Unit
Strata Corporation
Strata Lot
Strata Plan
Substantial Completion
Title
Transfer
Unit
Unit Area
Utilities
Vendor
Warranty
Adjustment Date
Amenities
Approved Plans
Architect
Assignment
Building
Business Day
Closing
Closing Date
Common Elements
Common Expenses
Completion
Construction Lender
Construction Schedule
Consultant
Contract Deposit
Developer
Development
Disclosure Statement
Dwelling Unit
Effective Date
Eligible GST Rebate
Encumbrances
Escrow Agent
Estimated Occupancy Date
Final Closing
Final Plans
Finishing Specifications
Force Majeure
GST/HST
Improvements
Interim Occupancy
Land
Lending Institution
Limited Common Property
Material Change
Mortgage Commitment
Municipal Address
Occupancy Permit
Outside Date
Parking Unit
Permitted Encumbrances
Plans and Specifications
Project
Property
Property Tax
Purchase Price
Purchaser
Real Estate Agent
Registration Date
Required Deposit
Sales Office
Seller
Statement of Adjustments
Storage Unit
Strata Corporation
Strata Lot
Strata Plan
Substantial Completion
Title
Transfer
Unit
Unit Area
Utilities
Vendor
Warranty
Clauses
Property Description
Purchase Price
Payment Terms
Deposit Protection
Construction Specifications
Completion Timeline
Title Transfer
Representations and Warranties
Default and Remedies
Force Majeure
Assignment Rights
Disclosure Requirements
Property Insurance
Risk Transfer
Inspection Rights
Closing Conditions
Adjustments
Environmental Compliance
Statutory Compliance
Consumer Protection
Dispute Resolution
Notice Requirements
Termination Rights
Deposit Forfeiture
Construction Warranties
Property Access
Material Changes
GST/HST Provisions
Foreign Buyer Provisions
Strata/Condominium Provisions
Common Property Rights
Construction Liens
Municipal Compliance
Title Insurance
Financing Conditions
Property Use
Governing Law
Entire Agreement
Severability
Time of Essence
Further Assurances
Purchase Price
Payment Terms
Deposit Protection
Construction Specifications
Completion Timeline
Title Transfer
Representations and Warranties
Default and Remedies
Force Majeure
Assignment Rights
Disclosure Requirements
Property Insurance
Risk Transfer
Inspection Rights
Closing Conditions
Adjustments
Environmental Compliance
Statutory Compliance
Consumer Protection
Dispute Resolution
Notice Requirements
Termination Rights
Deposit Forfeiture
Construction Warranties
Property Access
Material Changes
GST/HST Provisions
Foreign Buyer Provisions
Strata/Condominium Provisions
Common Property Rights
Construction Liens
Municipal Compliance
Title Insurance
Financing Conditions
Property Use
Governing Law
Entire Agreement
Severability
Time of Essence
Further Assurances
Relevant Industries
Real Estate Development
Residential Construction
Commercial Construction
Property Management
Real Estate Sales
Legal Services
Banking and Finance
Construction Management
Urban Development
Property Investment
Relevant Teams
Legal
Real Estate Development
Sales
Compliance
Construction Management
Finance
Risk Management
Customer Relations
Property Management
Contract Administration
Relevant Roles
Real Estate Developer
Property Development Manager
Real Estate Lawyer
Real Estate Agent
Sales Director
Construction Project Manager
Legal Counsel
Compliance Officer
Contract Administrator
Property Sales Manager
Development Director
Real Estate Broker
Financial Controller
Risk Manager
Customer Service Manager
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