The Real Estate Agreement Contract is a fundamental legal document used in Canadian property transactions to formalize the sale and purchase of real estate. This document is essential for both residential and commercial property transactions across all Canadian provinces, though specific requirements may vary by jurisdiction. It serves as the primary agreement that outlines all crucial aspects of the property transfer, including detailed property description, financial terms, conditions of sale, and obligations of all parties. The contract must comply with provincial real estate laws, the Statute of Frauds, and relevant federal regulations. It is typically prepared with input from legal professionals and real estate agents, and may require customization based on the specific nature of the property and transaction requirements.
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1. Parties: Identification and details of the vendor(s) and purchaser(s), including legal names and contact information
2. Background: Context of the transaction and brief description of the property being transferred
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Description: Detailed legal description of the property, including municipal address and legal boundaries
5. Purchase Price: Statement of the agreed purchase price and payment structure
6. Deposit: Details of the deposit amount, payment terms, and handling conditions
7. Closing Date: Specified date for completion of the transaction and transfer of ownership
8. Title and Ownership: Warranties regarding clear title and ownership transfer requirements
9. Property Condition: Current condition of the property and any warranties or disclaimers
10. Inspections and Due Diligence: Terms regarding property inspections and buyer's due diligence period
11. Representations and Warranties: Statements of fact and promises made by both parties
12. Closing Requirements: Documents and actions required from each party to complete the transaction
13. Risk and Insurance: Allocation of risk and insurance requirements until closing
14. Default and Remedies: Consequences and available remedies if either party defaults
15. Notices: How and where formal notices between parties must be delivered
16. Governing Law: Specification of Canadian law and relevant provincial jurisdiction
17. General Provisions: Standard contract clauses including severability, entire agreement, and amendments
1. Financing Conditions: Include when buyer requires mortgage financing to complete purchase
2. Sale of Existing Property: Include when purchase is conditional on buyer selling their current property
3. Rental Properties: Include when property includes tenant-occupied units, detailing lease assignments
4. Environmental Matters: Include for properties with known or potential environmental concerns
5. Development Potential: Include when property has development or zoning change potential
6. Chattels and Fixtures: Include when specific items of personal property are included/excluded from sale
7. Property Management: Include for commercial properties with existing management contracts
8. GST/HST Provisions: Include for new constructions or commercial properties subject to GST/HST
9. Construction Warranties: Include for new constructions or recently renovated properties
10. Condominium Provisions: Include for condominium properties, detailing specific requirements
1. Schedule A - Legal Description: Detailed legal description of the property from land registry
2. Schedule B - Permitted Encumbrances: List of accepted liens, easements, or encumbrances on the property
3. Schedule C - Included Chattels: Itemized list of personal property included in the sale
4. Schedule D - Excluded Fixtures: List of items typically considered fixtures that are excluded from sale
5. Schedule E - Current Leases: Details of existing tenant leases and terms
6. Schedule F - Property Condition Report: Detailed report on property condition and known issues
7. Schedule G - Environmental Reports: Environmental assessment results and reports
8. Schedule H - Property Plans: Site plans, surveys, and architectural drawings
9. Appendix 1 - Property Photographs: Recent photographs documenting property condition
10. Appendix 2 - Required Repairs: List of agreed repairs to be completed before closing
Relevant legal definitions
Agreement
Appraisal
Business Day
Chattels
Closing
Closing Date
Completion Date
Conditions Precedent
Deposit
Effective Date
Encumbrances
Fixtures
GST/HST
Improvements
Land
Lands and Premises
Leases
Legal Description
Mortgage
Party/Parties
Permitted Encumbrances
Property
Purchase Price
Purchaser
Real Property
Requisition Date
Schedule(s)
Statement of Adjustments
Survey
Title
Title Insurance
Transfer/Deed
Vendor
Warranties
Zoning
Appraisal
Business Day
Chattels
Closing
Closing Date
Completion Date
Conditions Precedent
Deposit
Effective Date
Encumbrances
Fixtures
GST/HST
Improvements
Land
Lands and Premises
Leases
Legal Description
Mortgage
Party/Parties
Permitted Encumbrances
Property
Purchase Price
Purchaser
Real Property
Requisition Date
Schedule(s)
Statement of Adjustments
Survey
Title
Title Insurance
Transfer/Deed
Vendor
Warranties
Zoning
Clauses
Property Description
Purchase Price
Payment Terms
Deposit
Title
Representations and Warranties
Conditions Precedent
Due Diligence
Property Inspection
Environmental Compliance
Insurance
Risk Transfer
Closing Conditions
Property Transfer
Default and Remedies
Assignment
Force Majeure
Notices
Amendment
Severability
Entire Agreement
Governing Law
Time of Essence
Confidentiality
Survival
Indemnification
Dispute Resolution
Registration
Tax Matters
Property Condition
Zoning Compliance
Utilities and Services
Access Rights
Fixtures and Chattels
Title Insurance
Property Management
Further Assurances
Purchase Price
Payment Terms
Deposit
Title
Representations and Warranties
Conditions Precedent
Due Diligence
Property Inspection
Environmental Compliance
Insurance
Risk Transfer
Closing Conditions
Property Transfer
Default and Remedies
Assignment
Force Majeure
Notices
Amendment
Severability
Entire Agreement
Governing Law
Time of Essence
Confidentiality
Survival
Indemnification
Dispute Resolution
Registration
Tax Matters
Property Condition
Zoning Compliance
Utilities and Services
Access Rights
Fixtures and Chattels
Title Insurance
Property Management
Further Assurances
Relevant Industries
Real Estate
Property Development
Construction
Banking and Finance
Legal Services
Insurance
Property Management
Commercial Real Estate
Residential Real Estate
Urban Planning
Architecture
Investment Management
Relevant Teams
Legal
Real Estate
Property Management
Asset Management
Investment
Operations
Acquisitions
Development
Finance
Risk Management
Compliance
Due Diligence
Relevant Roles
Real Estate Agent
Real Estate Broker
Property Lawyer
Real Estate Lawyer
Property Manager
Asset Manager
Investment Manager
Property Developer
Real Estate Analyst
Mortgage Broker
Title Examiner
Real Estate Paralegal
Commercial Real Estate Agent
Real Estate Transaction Coordinator
Property Administrator
Real Estate Investment Advisor
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