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Pre Sale Purchase Agreement
"I need a Pre Sale Purchase Agreement for a luxury 45-unit condominium development in Vancouver, with completion expected in March 2025, including specific clauses for high-end amenities such as concierge service and private rooftop access, and provisions for foreign buyers."
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 legal description, unit number, and approximate size
5. Purchase Price: Total purchase price, deposit structure, and payment schedule
6. Construction and Completion: Expected completion date, construction milestones, and developer's obligations
7. Developer's Covenants: Developer's promises regarding construction, warranties, and delivery
8. Purchaser's Covenants: Purchaser's obligations including payment terms and cooperation requirements
9. Adjustments and Closing Costs: Details of closing cost allocations and adjustments to the purchase price
10. Title and Possession: Terms regarding transfer of title and possession of the property
11. Representations and Warranties: Statements of fact and promises by both parties
12. Default and Remedies: Consequences of breach and available remedies for both parties
13. Risk and Insurance: Allocation of risk and insurance requirements during construction
14. Notice: Methods and requirements for official communications between parties
15. General Provisions: Standard contract clauses including governing law, amendment procedures, and severability
1. Assignment: Terms for allowing or restricting the purchaser's right to assign the contract, used when assignment rights need to be specifically addressed
2. GST/HST Rebate: Details regarding GST/HST rebates for new housing, included when applicable to the transaction
3. Financing Conditions: Conditions related to purchaser's financing requirements, included when purchaser needs to secure mortgage financing
4. Parking and Storage: Details of parking stalls and storage lockers, included for developments with these amenities
5. Strata Provisions: Special provisions for strata properties, included only for strata developments
6. View and Layout Protection: Provisions regarding protection of views or layout, included when specifically negotiated
7. Rental Restrictions: Terms regarding rental restrictions or permissions, included when relevant to the development
8. Environmental Provisions: Special environmental requirements or certifications, included for green buildings or developments with specific environmental features
1. Schedule A - Property Plans: Detailed floor plans, site plans, and unit layouts
2. Schedule B - Features and Finishes: Detailed list of included features, materials, and finishing specifications
3. Schedule C - Disclosure Statement: Required disclosure statement under provincial legislation
4. Schedule D - Construction Standards: Detailed construction specifications and building standards
5. Schedule E - Payment Schedule: Detailed breakdown of deposit and payment milestones
6. Schedule F - Permitted Encumbrances: List of permitted liens, encumbrances, and easements
7. Schedule G - Common Area Specifications: Details of common areas and shared facilities
8. Appendix 1 - Warranty Information: New home warranty program details and coverage
9. Appendix 2 - Strata Bylaws: Proposed or existing strata bylaws and regulations
Authors
Amenities
Approved Plans
Assignment
Building
Business Day
Closing
Closing Date
Common Elements
Completion Date
Construction Lender
Construction Schedule
Deposit
Developer
Development
Disclosure Statement
Dwelling Unit
Effective Date
Encumbrances
Environmental Laws
Extended Completion Date
Features and Finishes
Final Occupancy Date
Final Plans
Force Majeure
GST/HST
Lands
Material Change
Mortgage
Municipality
Occupancy Permit
Parking Unit
Permitted Encumbrances
Plans and Specifications
Property
Purchase Price
Purchaser
Real Estate Development Marketing Act
Sales Office
Schedule of Finishes
Show Suite
Solicitors
Statement of Adjustments
Storage Locker
Strata Corporation
Strata Lot
Strata Plan
Substantial Completion
Title
Transfer
Unit
Warranty
Payment Terms
Construction Specifications
Completion and Delivery
Title Transfer
Representations and Warranties
Developer Covenants
Purchaser Covenants
Risk Allocation
Insurance Requirements
Default and Remedies
Assignment Rights
Force Majeure
Notices
Dispute Resolution
Warranty
Property Access
Adjustment and Closing Costs
Tax Provisions
Environmental Compliance
Regulatory Compliance
Termination Rights
Amendment and Modification
Governing Law
Entire Agreement
Severability
Time of Essence
Survival
Further Assurances
Indemnification
Real Estate
Construction
Property Development
Legal Services
Banking and Finance
Property Management
Real Estate Investment
Urban Planning
Legal
Real Estate Development
Sales
Compliance
Construction Management
Property Management
Finance
Marketing
Project Management
Contract Administration
Real Estate Developer
Property Development Manager
Real Estate Lawyer
Construction Manager
Sales Director
Real Estate Agent
Property Manager
Compliance Officer
Legal Counsel
Project Manager
Development Executive
Contract Administrator
Real Estate Broker
Financial Controller
Marketing Director
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