Real Estate Contract To Sell for Canada

Real Estate Contract To Sell Template for Canada

A legally binding agreement governed by Canadian law that facilitates the transfer of real property ownership from a seller to a buyer. This comprehensive document outlines all essential terms and conditions of the sale, including property details, purchase price, payment terms, closing conditions, and both parties' rights and obligations. It incorporates relevant provincial and federal requirements, ensuring compliance with local real estate regulations, property laws, and tax considerations. The contract serves as the primary instrument for documenting the transaction terms and protecting all parties' interests throughout the sale process.

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What is a Real Estate Contract To Sell?

The Real Estate Contract to Sell is a fundamental legal document used in Canadian property transactions to formalize the sale of real estate between parties. It is essential for both residential and commercial property transfers across all Canadian provinces and territories, though specific requirements may vary by jurisdiction. This contract type incorporates key elements required by Canadian law, including property description, purchase price, deposit terms, conditions precedent, warranties, and closing requirements. It serves as the primary agreement protecting both buyers' and sellers' interests while ensuring compliance with provincial real estate regulations, federal tax laws, and other relevant legislation. The document is particularly crucial as real estate transactions typically represent significant financial commitments and require careful documentation of all terms and conditions to prevent future disputes.

What sections should be included in a Real Estate Contract To Sell?

1. Parties: Identifies and provides full legal names and addresses of the seller(s) and buyer(s)

2. Background: Establishes the context of the agreement, including brief property description and parties' intention to enter into a purchase/sale transaction

3. Definitions: Defines key terms used throughout the agreement for clarity and legal certainty

4. Property Description: Detailed legal description of the property, including municipal address and legal land description

5. Purchase Price: Specifies the agreed purchase price and payment terms, including deposit requirements

6. Deposit: Details regarding the amount, payment timeline, and handling of the deposit

7. Closing Date: Specifies the date of closing and conditions for any extensions

8. Conditions Precedent: Lists all conditions that must be satisfied before the agreement becomes firm, including financing and inspection conditions

9. Seller's Representations and Warranties: Statements of fact about the property's condition, title, and other material aspects

10. Buyer's Representations and Warranties: Buyer's statements regarding their ability to complete the purchase

11. Closing Deliverables: Lists all documents and items to be delivered by each party on closing

12. Adjustments: Specifies how property taxes, utilities, and other expenses will be prorated

13. Title: Requirements for clear title and process for addressing title issues

14. Risk: Allocation of risk and responsibility for the property between acceptance and closing

15. Default: Consequences and remedies if either party fails to complete the transaction

16. Notices: How and where formal notices under the agreement must be delivered

17. General Provisions: Standard legal provisions including governing law, entire agreement, and amendments

What sections are optional to include in a Real Estate Contract To Sell?

1. Chattels and Fixtures: Lists included and excluded personal property, used when specific items need to be addressed

2. Rental Properties: Additional provisions for income-producing properties, including assignment of leases

3. HST/GST: Special provisions regarding sales tax, particularly relevant for new construction or commercial properties

4. Property Management: Provisions for the period between acceptance and closing, particularly relevant for vacant properties

5. Environmental Matters: Special provisions regarding environmental issues, particularly relevant for properties with known concerns

6. Condominium Provisions: Additional terms specific to condominium properties

7. Financing Terms: Detailed provisions if seller financing is involved

8. Construction Warranties: For new construction properties, details about builder warranties and responsibilities

9. Foreign Buyer Provisions: Additional requirements when buyer is not a Canadian resident

What schedules should be included in a Real Estate Contract To Sell?

1. Schedule A - Legal Description: Detailed legal description of the property from land registry

2. Schedule B - Included Chattels: Itemized list of personal property included in the sale

3. Schedule C - Excluded Fixtures: List of items normally considered fixtures that are excluded from the sale

4. Schedule D - Existing Tenancies: Details of any lease agreements affecting the property

5. Schedule E - Property Condition Disclosure: Seller's disclosure of known property conditions and defects

6. Schedule F - Title Exceptions: List of permitted encumbrances and title exceptions

7. Schedule G - Environmental Disclosure: Details of any known environmental issues or reports

8. Appendix 1 - Property Survey: Current survey of the property showing boundaries and improvements

9. Appendix 2 - Floor Plans: Detailed plans showing layout of buildings on the property

10. Appendix 3 - Property Photographs: Recent photographs documenting property condition

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Canada

Publisher

Genie AI

Cost

Free to use
Relevant legal definitions
Clauses
Relevant Industries

Residential Real Estate

Commercial Real Estate

Real Estate Development

Property Management

Legal Services

Banking and Finance

Insurance

Construction

Property Investment

Urban Planning

Relevant Teams

Legal

Real Estate

Compliance

Risk Management

Property Management

Investment

Operations

Finance

Administration

Business Development

Relevant Roles

Real Estate Agent

Real Estate Broker

Property Lawyer

Conveyancing Lawyer

Property Manager

Real Estate Developer

Investment Manager

Legal Counsel

Compliance Officer

Title Examiner

Mortgage Specialist

Real Estate Analyst

Property Administrator

Real Estate Investment Officer

Transaction Coordinator

Real Estate Portfolio Manager

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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