The Simple Offer To Purchase Form is a crucial document in Canadian real estate transactions, serving as the initial formal step in property acquisition. This document is used when a prospective buyer wishes to present a legally binding offer to purchase real property, whether residential or commercial. The form includes essential elements required by Canadian law, such as party identification, property description, purchase price, conditions precedent, and closing terms. It is designed to protect both buyers' and sellers' interests while ensuring compliance with provincial real estate regulations and federal laws. The Simple Offer To Purchase Form can be used for various property types and transaction structures, though it may need modification based on specific provincial requirements or transaction complexity. The document typically serves as the foundation for subsequent negotiations and, once accepted, becomes a binding agreement of purchase and sale.
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1. Parties: Identification of the buyer(s) and seller(s) with full legal names and current addresses
2. Property Description: Detailed legal description of the property, including municipal address and legal description as registered
3. Purchase Price: The offered purchase amount in both numbers and words, including details of deposit
4. Terms of Payment: Structure of payment including deposit, balance due, and payment methods
5. Closing Date: Proposed date for completing the transaction and transfer of ownership
6. Conditions Precedent: Essential conditions that must be satisfied for the offer to become binding, such as financing and home inspection
7. Included Items: List of fixtures and chattels included in the purchase price
8. Excluded Items: List of items specifically excluded from the sale
9. Irrevocability: Period during which the offer cannot be revoked
10. Completion and Possession: Details about closing procedures and when possession will be given
11. Representations and Warranties: Basic statements about the property's condition and seller's authority to sell
12. Notices: How and where formal communications between parties should be delivered
13. Execution: Signature blocks for all parties with dates and witness provisions
1. Spousal Consent: Required if the property is or was a matrimonial home under applicable family law
2. Tenant Rights: Include if the property is currently tenanted or has existing lease agreements
3. HST/GST Declaration: Required for new construction or substantially renovated properties
4. Property Management: Include if there are ongoing property management contracts or obligations
5. Condominium Provisions: Required if the property is a condominium unit, including status certificate requirements
6. Rural Property Provisions: Include for rural properties, addressing wells, septic systems, and environmental matters
7. Survey Provisions: Optional section regarding the provision or requirement of property surveys
8. Mortgage Assumption: Include if an existing mortgage is to be assumed by the buyer
1. Schedule A - Property Details: Comprehensive description of the property, including lot size, dimensions, and improvements
2. Schedule B - Included Items List: Detailed inventory of all fixtures and chattels included in the purchase
3. Schedule C - Financial Terms: Detailed breakdown of the purchase price, deposit structure, and payment terms
4. Schedule D - Conditions: Full details of all conditions precedent and their respective timelines
5. Schedule E - Property Inspection Results: To be attached after inspection, if applicable
6. Schedule F - Existing Tenancies: Details of any existing lease agreements or tenancies, if applicable
7. Appendix 1 - Property Photographs: Current dated photographs of the property and included items
8. Appendix 2 - Required Disclosures: Any mandatory disclosure forms required by provincial legislation
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