Simple Home Purchase Agreement Template for Canada

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Key Requirements PROMPT example:

Simple Home Purchase Agreement

"I need a Simple Home Purchase Agreement for a detached house in Ontario, with a purchase price of $750,000 and closing date of March 15, 2025; the agreement should include standard inspection and financing conditions."

Document background
The Simple Home Purchase Agreement serves as the primary legal instrument for residential property transactions in Canada. This document is essential when individuals or entities wish to formalize the purchase and sale of residential real estate, ensuring compliance with Canadian federal and provincial regulations. It includes crucial details such as property description, purchase price, closing arrangements, conditions of sale, and various warranties. The agreement is designed to protect both buyers and sellers while providing a clear framework for the transaction. It may be used for various residential properties, from single-family homes to condominiums, and can be adapted to include specific provincial requirements while maintaining its core purpose of documenting the transfer of real property ownership.
Suggested Sections

1. Parties: Identification of the Seller and Buyer with full legal names and current addresses

2. Background: Brief context of the transaction and acknowledgment of parties' intention to enter into the agreement

3. Definitions: Key terms used throughout the agreement defined for clarity and legal certainty

4. Property Description: Detailed legal description of the property including address, lot number, and property boundaries

5. Purchase Price: Statement of the agreed purchase price and payment terms including deposit details

6. Deposit: Details of the deposit amount, payment schedule, and handling of funds

7. Closing Date: Specified date for completion of the transaction and transfer of ownership

8. Title and Ownership: Seller's warranties regarding clear title and process for title transfer

9. Inspections and Property Condition: Rights and obligations regarding property inspections and condition warranties

10. Closing Adjustments: Process for adjusting taxes, utilities, and other expenses at closing

11. Representations and Warranties: Standard declarations by both parties regarding their capacity and authority

12. Default and Remedies: Consequences and available remedies if either party fails to fulfill obligations

13. Notices: How and where formal communications between parties should be delivered

14. Governing Law: Specification that the agreement is governed by Canadian law and relevant provincial jurisdiction

15. Execution: Signature blocks and execution requirements

Optional Sections

1. Financing Condition: To be included when buyer's purchase is conditional on obtaining mortgage financing

2. Sale of Buyer's Property: Include when purchase is conditional on buyer selling their existing property

3. Chattels and Fixtures: Used when specific items of personal property are included or excluded from the sale

4. Home Warranty: Include for new constructions or when seller is providing specific warranties

5. Tenant Rights: Required if property is currently tenanted with existing lease agreements

6. Construction Completion: For new builds or properties under construction

7. Environmental Matters: Include if property has known environmental issues or requires assessment

8. Swimming Pool/Hot Tub Compliance: When property includes these features requiring specific compliance

9. Heritage Property Requirements: For properties designated as heritage buildings with special requirements

Suggested Schedules

1. Schedule A - Property Details: Comprehensive legal description and property boundaries

2. Schedule B - Included Chattels: Detailed list of movable items included in the sale

3. Schedule C - Excluded Fixtures: List of items that would normally be included but are specifically excluded

4. Schedule D - Current Tenancies: Details of existing lease agreements if applicable

5. Schedule E - Property Disclosure Statement: Seller's declarations about property condition and known issues

6. Schedule F - Inspection Reports: Attached property inspection findings and reports

7. Schedule G - Title Documents: Copies of relevant title documents and certificates

8. Appendix 1 - Property Photographs: Dated photographs documenting property condition at time of agreement

9. Appendix 2 - Floor Plans: Current floor plans and property measurements

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Clauses
Relevant Industries

Real Estate

Residential Property

Legal Services

Banking & Finance

Insurance

Property Development

Construction

Property Management

Professional Services

Public Administration

Relevant Teams

Legal

Real Estate

Property Management

Compliance

Risk Management

Documentation

Sales

Client Services

Operations

Administrative Support

Relevant Roles

Real Estate Agent

Real Estate Broker

Property Lawyer

Conveyancing Lawyer

Mortgage Advisor

Property Inspector

Title Examiner

Real Estate Paralegal

Escrow Officer

Property Developer

Real Estate Manager

Compliance Officer

Legal Document Specialist

Real Estate Administrator

Transaction Coordinator

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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