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As Is Home Sale Contract
"I need an As Is Home Sale Contract for a heritage property in Ontario that I'm selling to a property development company, with specific emphasis on the building's historical features and current structural condition, closing planned for March 2025."
1. Parties: Identifies and provides full legal names and addresses of the seller and purchaser
2. Background: Establishes the context of the sale and confirms the seller's ownership of the property
3. Definitions: Defines key terms used throughout the agreement
4. Property Description: Detailed legal description of the property being sold, including municipal address and legal land description
5. Purchase Price and Payment Terms: Specifies the agreed purchase price, deposit amount, and payment structure
6. 'As Is' Condition and Acknowledgment: Explicitly states that the property is being sold 'as is' and details the implications of this condition
7. Buyer's Acknowledgment of Property Condition: Buyer's confirmation of property inspection and acceptance of current condition
8. Seller's Disclosures: Mandatory disclosures required by law, even in 'as is' sales
9. Closing Date and Possession: Specifies the closing date and terms of possession transfer
10. Closing Adjustments: Details how property taxes, utilities, and other expenses will be adjusted between parties
11. Risk: Addresses risk transfer and insurance responsibilities until closing
12. Default and Remedies: Outlines consequences of default by either party
13. Notices: Specifies how and where formal notices must be delivered
14. Governing Law: Confirms that the agreement is governed by Canadian law and specifies the applicable province
15. Entire Agreement: Confirms that the written contract represents the complete agreement between parties
1. Chattels and Fixtures: Used when specific items are included or excluded from the sale
2. Financing Condition: Include when buyer requires mortgage financing to complete the purchase
3. Property Management: Used for properties with tenant occupancy or ongoing management requirements
4. Environmental Matters: Include when there are known environmental issues or concerns
5. Survey Condition: Used when a new survey is required or an existing survey needs verification
6. HST/GST Provisions: Include for properties where HST/GST applies to the sale
7. Foreign Buyer Provisions: Include when purchaser is not a Canadian citizen or permanent resident
8. Common Elements: Used for properties that include shared or common elements
9. Spousal Consent: Include when the property is or was a matrimonial home
1. Schedule A - Legal Description: Detailed legal description of the property from land registry
2. Schedule B - Permitted Encumbrances: List of existing encumbrances that will continue after sale
3. Schedule C - Included Chattels: Itemized list of movable items included in the sale
4. Schedule D - Excluded Fixtures: List of attached items that are specifically excluded from the sale
5. Schedule E - Known Defects: List of known issues with the property disclosed by seller
6. Schedule F - Recent Repairs: Documentation of any recent repairs or renovations
7. Appendix 1 - Property Disclosure Statement: Standard form disclosure of property condition
8. Appendix 2 - Inspection Reports: Any existing inspection reports provided by seller
9. Appendix 3 - Property Photographs: Documentation of property condition at time of sale
Authors
Real Estate
Legal Services
Financial Services
Property Management
Construction
Insurance
Property Development
Professional Services
Legal
Real Estate
Compliance
Property Management
Sales
Finance
Risk Management
Operations
Administrative Support
Investment
Real Estate Agent
Real Estate Broker
Property Lawyer
Conveyancing Lawyer
Real Estate Legal Counsel
Property Manager
Mortgage Advisor
Title Officer
Real Estate Transaction Coordinator
Compliance Officer
Legal Assistant
Real Estate Administrator
Property Developer
Real Estate Investment Manager
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