Single Family
The Buyer agrees to pay the balance of the purchase price, subject to adjustments, to the Seller on completion of this transaction, with funds drawn on a lawyer’s trust account in the form of a bank draft, certified cheque or wire transfer using the Large Value Transfer System.
This agreement is conditional upon the Buyer;
a) arranging a new first mortgage sufficient to close this transaction bearing current rates, terms and conditions suitable to the buyer. The proceeds from this said mortgage shall form part of the Purchase Price on closing.
b) having the subject property inspected by a home inspector at the Buyer’s own expense, and the obtaining of a report satisfactory to the Buyer in the Buyer’s sole and absolute discretion.
c) being able to obtain property insurance that is satisfactory to the Buyer in the Buyer’s sole and absolute discretion.
Unless the Buyer gives notice in writing delivered to the Seller personally or in accordance with any other provisions for the delivery of notice in this Agreement of Purchase and Sale or any Schedule thereto not later than 11:59 p.m. on ____________, that these conditions are fulfilled, this Offer shall be null and void and the deposit shall be returned to the Buyer in full without deduction. The Seller agrees to co-operate in providing access to the property for the purpose of this inspection. This condition is included for the benefit of the Buyer and may be waived at the Buyer’s sole option by notice in writing to the Seller as aforesaid within the time period stated herein.
The Buyer shall have the right to revisit the property two further times prior to completion with a 24 hour verbal notice to be given to the Seller and further, the Buyer shall have the right to a pre-closing walk through prior to closing. From the date of acceptance to the date of closing, the Seller agrees to maintain the house and property in the same condition as upon the initial inspection by the Buyer, (reasonable wear and tear accepted) including but not limited to snow removal, maintaining lawns and gardens, repairs to chattels, plumbing, electrical, air conditioning and heating systems (if present).
The Seller warrants that all fixtures and chattels included in this transaction will be free of all encumbrances and/or conditional sales contracts and in good working order at the time of the closing of this transaction. The Seller further undertakes to leave the home in reasonable condition and remove chattels (not being purchased) and garbage from the house on or before closing, without damaging the property. It is agreed and understood that all existing broadloom (carpet) plus drapery tracks, bathroom mirrors (fastened or hanging), cabinets and anything else fastened by means of nails, screws or similar fastening devices now on the real property are to be included in the purchase price. With the exception of those items previously excluded in this agreement.
Multi-Family
The Buyer agrees to pay the balance of the purchase price, subject to adjustments, to the Seller on completion of this transaction, with funds drawn on a lawyer’s trust account in the form of a bank draft, certified cheque or wire transfer using the Large Value Transfer System.
This agreement is conditional upon the Buyer;
a) arranging a new first mortgage sufficient to close this transaction bearing current rates, terms and conditions suitable to the buyer. The proceeds from this said mortgage shall form part of the Purchase Price on closing. Unless the Buyer gives notice in writing delivered to the Seller personally or in accordance with any other provisions for the delivery of notice in this Agreement of Purchase and Sale or any Schedule thereto not later than 11:59 p.m. on ______________, that this condition is fulfilled, this Offer shall be null and void and the deposit shall be returned to the Buyer in full without deduction.
This agreement is also conditional upon the buyer:
b) having the subject property inspected by a home inspector at the Buyer’s own expense, and the obtaining of a report satisfactory to the Buyer in the Buyer’s sole and absolute discretion.
c) being able to obtain property insurance that is satisfactory to the Buyer in the Buyer’s sole and absolute discretion.
d) the buyer reviewing and being satisfied will all leases for the property and the hydro bills, in the Buyer’s sole and absolute discretion.
e) the buyer satisfying themselves that the property can be continued to be rented out as it currently is
f) The buyer viewing and being satifsied of all ___ units, in the buyers sole and absolute discretion
Unless the Buyer gives notice in writing delivered to the Seller personally or in accordance with any other provisions for the delivery of notice in this Agreement of Purchase and Sale or any Schedule thereto not later than 11:59 p.m. on ____________, that this condition is fulfilled, this Offer shall be null and void and the deposit shall be returned to the Buyer in full without deduction. The Seller agrees to co-operate in providing access to the property for the purpose of this inspection and provide copies of all leases to the Buyer within 3 days of acceptance of this Agreement. This condition is included for the benefit of the Buyer and may be waived at the Buyer’s sole option by notice in writing to the Seller as aforesaid within the time period stated herein.
The seller agrees to provide all leases for the last 12 months and the last 12 months of hydro bills within 3 days of acceptance.
The Buyer shall have the right to revisit the property two further times prior to completion with a 24 hour verbal notice to be given to the Seller and further, the Buyer shall have the right to a pre-closing walk through prior to closing. From the date of acceptance to the date of closing, the Seller agrees to maintain the house and property in the same condition as upon the initial inspection by the Buyer, (reasonable wear and tear accepted) including but not limited to snow removal, maintaining lawns and gardens, repairs to chattels, plumbing, electrical, air conditioning and heating systems (if present). The Seller warrants that all fixtures and chattels included in this transaction will be free of all encumbrances and/or conditional sales contracts and in good working order at the time of the closing of this transaction. The Seller further undertakes to leave the home in reasonable condition and remove chattels (not being purchased) and garbage from the house on or before closing, without damaging the property. It is agreed and understood that all existing broadloom (carpet) plus drapery tracks, bathroom mirrors (fastened or hanging), cabinets and anything else fastened by means of nails, screws or similar fastening devices now on the real property are to be included in the purchase price. With the exception of those items previously excluded in this agreement.