The Special Sales Contract (Real Estate) is a fundamental legal instrument used in Canadian real estate transactions to formalize property transfers between parties. This document is essential when specific or unique conditions apply to the property sale, such as development potential, heritage status, or environmental considerations. It includes comprehensive details about the property, purchase terms, conditions precedent, representations and warranties, and closing procedures, all while ensuring compliance with federal and provincial real estate regulations. The contract is particularly important for complex real estate transactions where standard form agreements may not sufficiently address all aspects of the deal. It provides additional protection to both parties by clearly outlining all terms and conditions specific to the transaction, including any special considerations or requirements unique to the property or the parties involved.
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1. Parties: Identification of the vendor and purchaser, including full legal names and addresses
2. Background: Context of the transaction and brief property description
3. Definitions: Key terms used throughout the agreement
4. Property Description: Detailed legal description of the property and included fixtures/chattels
5. Purchase Price: Statement of purchase price, deposit requirements, and payment terms
6. Closing Date: Specified date for completion of the transaction
7. Title and Ownership: Warranties regarding clear title and ownership transfer conditions
8. Conditions Precedent: Conditions that must be satisfied before the agreement becomes binding
9. Representations and Warranties: Statements of fact by both parties regarding the property and their capacity to enter into the agreement
10. Closing Procedures: Steps to be taken on closing, including documentation and payments
11. Property Inspection: Rights and procedures for property inspection
12. Risk and Insurance: Allocation of risk and insurance requirements until closing
13. Default and Remedies: Consequences of breach and available remedies
14. Notices: How formal communications between parties should be made
15. General Provisions: Standard contract clauses including governing law, entire agreement, and amendments
1. Financing Conditions: Used when purchase is contingent on buyer obtaining financing
2. Tenant Rights: Required when property is sold with existing tenants
3. Property Management: Needed for transition of property management services if applicable
4. Environmental Conditions: Required when environmental issues or assessments are relevant
5. Development Conditions: Used when property has development potential or restrictions
6. Foreign Buyer Provisions: Required when purchaser is a non-resident of Canada
7. GST/HST Provisions: Required for new properties or commercial properties subject to GST/HST
8. Condominium Provisions: Required when property is a condominium unit
9. Agricultural Land Provisions: Required when property is on agricultural land
10. Heritage Property Provisions: Required when property has heritage designation
1. Schedule A - Property Details: Detailed description of property including legal description, PID, and included items
2. Schedule B - Purchase Price Allocation: Breakdown of purchase price including chattels and fixtures
3. Schedule C - Permitted Encumbrances: List of accepted liens, easements, and encumbrances
4. Schedule D - Property Disclosure Statement: Vendor's disclosure of property condition and known issues
5. Schedule E - Environmental Reports: Environmental assessment results if applicable
6. Schedule F - Site Plans: Property plans, surveys, and drawings
7. Schedule G - Existing Tenancies: Details of current lease agreements if applicable
8. Appendix 1 - Property Photographs: Recent photographs of property and significant features
9. Appendix 2 - Title Search Results: Current title search showing registered interests
10. Appendix 3 - Building Inspection Report: Professional inspection findings and recommendations
Authors
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Commercial Property
Residential Property
Legal Services
Financial Services
Property Development
Construction
Agriculture (for farmland)
Retail
Hospitality
Healthcare
Education
Industrial
Warehousing
Mixed-Use Development
Relevant Teams
Legal
Real Estate
Compliance
Risk Management
Property Management
Asset Management
Operations
Finance
Investment
Acquisitions
Due Diligence
Contract Administration
Relevant Roles
Real Estate Lawyer
Property Manager
Real Estate Agent
Real Estate Broker
Commercial Property Manager
Legal Counsel
Compliance Officer
Real Estate Development Manager
Asset Manager
Investment Manager
Property Acquisitions Manager
Risk Manager
Contract Administrator
Real Estate Analyst
Title Examiner
Real Estate Operations Director
Real Estate Portfolio Manager
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