The Seller's Agreement For House is a crucial legal document used in Canadian residential real estate transactions when a property owner intends to sell their house. This document serves as the foundation for the entire sale process, incorporating essential elements required by both federal and provincial legislation. It details the rights and obligations of both seller and buyer, including property specifications, purchase price, deposit requirements, closing conditions, and warranties. The agreement must comply with various Canadian laws including the Real Estate and Business Brokers Act (REBBA), provincial property laws, and consumer protection legislation. It's typically used in conjunction with real estate professionals and legal representatives to ensure all aspects of the property transfer are properly documented and legally binding. The document provides protection for all parties involved and creates a clear framework for the successful completion of the property sale.
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1. Parties: Identification of the seller and buyer, including full legal names, addresses, and contact information
2. Background: Context of the sale, including brief property description and intention to transfer ownership
3. Definitions: Key terms used throughout the agreement defined for clarity and legal certainty
4. Property Description: Detailed legal description of the property, including address, lot number, and registered details
5. Purchase Price: Statement of the agreed purchase price and payment terms
6. Deposit: Details of the deposit amount, when it's due, and how it will be held
7. Closing Date: Specified date for completion of the sale and transfer of ownership
8. Seller's Representations and Warranties: Seller's declarations about the property's condition, title, and any known issues
9. Property Condition and Inspection: Details about the current state of the property and inspection rights
10. Title and Ownership: Confirmation of clear title and process for title transfer
11. Closing Procedures: Step-by-step process for completing the sale
12. Default and Remedies: Consequences and available remedies if either party fails to meet obligations
13. Notices: How and where formal communications between parties should be made
14. Governing Law: Specification that the agreement is governed by Canadian law and the relevant province
1. Fixtures and Chattels: List of items included or excluded from the sale, used when there are specific items to be detailed
2. Tenant Rights: Required when the property is currently tenanted, detailing existing lease agreements and tenant rights
3. Property Management: Used when the property is part of a managed complex or has ongoing management requirements
4. Environmental Matters: Required when there are environmental concerns or special conditions to be addressed
5. Home Warranty: Included for newer properties with existing warranty coverage
6. Conditions Precedent: Used when there are specific conditions that must be met before closing
7. Assignment: Included when transfer rights need to be specifically addressed
8. HST/GST Provisions: Required for new properties or commercial properties where HST/GST applies
1. Schedule A - Property Description: Detailed legal description and property boundaries
2. Schedule B - Included Items: Comprehensive list of fixtures and chattels included in the sale
3. Schedule C - Excluded Items: List of items specifically excluded from the sale
4. Schedule D - Title Searches: Results of title searches and any encumbrances
5. Schedule E - Property Disclosure Statement: Seller's disclosure of property condition and known issues
6. Appendix 1 - Property Survey: Current survey of the property and boundaries
7. Appendix 2 - Property Photographs: Documentation of property condition at time of agreement
8. Appendix 3 - Inspection Reports: Any existing inspection reports or property assessments
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