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1. Parties: Identification of the buyer(s), seller(s), and escrow agent/brokerage holding the earnest money
2. Property Description: Legal description and address of the property being purchased
3. Earnest Money Details: Specific amount of earnest money, form of payment, and deadline for deposit
4. Deposit Terms: Details of where and how the earnest money will be held
5. Release Conditions: Conditions under which the earnest money will be released to either party
6. Default and Remedies: Consequences of default by either party and available remedies
7. Signatures: Execution block for all parties including dates and witness provisions
1. Additional Deposit Terms: Used when there are multiple deposit payments or special conditions for the deposit schedule
2. Interest Provisions: Required when parties agree that interest earned on the deposit will be handled in a specific way
3. Dispute Resolution: Optional section detailing specific procedures for resolving disputes about the earnest money
4. Special Instructions: Used when there are unique requirements or conditions for handling the earnest money
5. Foreign Buyer Provisions: Required when the buyer is not a Canadian resident and additional compliance requirements apply
1. Schedule A - Deposit Receipt: Confirmation of receipt of earnest money by the escrow agent/brokerage
2. Schedule B - Proof of Funds: Documentation showing the source and availability of earnest money funds
3. Schedule C - Wire Transfer Instructions: Specific banking details and procedures for wire transfer of earnest money
4. Appendix 1 - Release Authorization Form: Standard form for authorizing release of earnest money to either party
5. Appendix 2 - Dispute Resolution Procedures: Detailed procedures for handling disputes over earnest money if dispute resolution section is included
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