The House Offer Contract is a critical document in Canadian residential real estate transactions, serving as the initial step in formalizing a property purchase. This document is used when a potential buyer wishes to make a formal offer to purchase a residential property and must comply with both federal and provincial legislation. The contract includes essential elements such as property details, purchase price, deposit terms, conditions precedent (like financing and inspection requirements), and closing arrangements. It protects both buyer and seller interests by clearly stating all terms and conditions of the proposed transaction. The House Offer Contract must be drafted in accordance with provincial real estate laws, the Real Estate and Business Brokers Act (where applicable), and other relevant Canadian legislation governing property transactions.
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1. Parties: Identifies and provides full legal names and addresses of the buyer(s) and seller(s)
2. Background: Brief context about the transaction and property
3. Definitions: Defines key terms used throughout the agreement
4. Property Description: Detailed legal description of the property including address, lot number, and registration details
5. Purchase Price: States the total purchase price and payment structure including deposit details
6. Deposit Terms: Specifies deposit amount, payment timing, and handling conditions
7. Closing Date: Specifies the date when the transaction will be completed and possession transferred
8. Conditions Precedent: Lists conditions that must be met before the agreement becomes firm (financing, inspection, etc.)
9. Representations and Warranties: Statements of fact by the seller about the property's condition and status
10. Included and Excluded Items: Lists fixtures and chattels included or excluded from the sale
11. Title and Ownership: Confirms clean title and addresses any existing encumbrances
12. Closing Adjustments: Details how property taxes, utilities, and other expenses will be prorated
13. Default and Remedies: Outlines consequences and available remedies if either party defaults
14. Notices: Specifies how and where official communications between parties should be delivered
15. Governing Law: Establishes that Canadian law governs the agreement
1. Mortgage Assumption: Used when buyer is assuming seller's existing mortgage
2. Rental Property Provisions: Required when property has existing tenants or rental units
3. Home Warranty: Included for new construction or recently built homes
4. Pool/Hot Tub Maintenance: Required when property includes these amenities
5. Condominium Provisions: Required for condominium property purchases
6. Bridge Financing: Included when buyer requires temporary financing between property sales
7. Multiple Offer Provisions: Used in competitive bidding situations
8. Sale of Buyer's Property: Included when offer is conditional on buyer selling their current property
1. Schedule A - Property Details: Comprehensive description of property including lot size, zoning, and improvements
2. Schedule B - Included Chattels: Detailed list of movable items included in the sale
3. Schedule C - Excluded Items: Detailed list of items explicitly excluded from the sale
4. Schedule D - Property Disclosure Statement: Seller's disclosure of known property issues and conditions
5. Schedule E - Inspection Report: Results and conditions from property inspection
6. Schedule F - Title Search Results: Documentation of title search and any encumbrances
7. Schedule G - Environmental Assessment: Results of any environmental testing or assessments
8. Appendix 1 - Property Survey: Recent survey showing property boundaries and structures
9. Appendix 2 - Floor Plans: Detailed plans showing property layout and dimensions
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