Contract Of Purchase And Sale
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5CONTRACT OF PURCHASE AND SALE
PREPARED BY:
_________________________________________________________________
DATE OF OFFER: _________________________________________________________________
SELLER:
______________________________
BUYER:
____________________________
SELLER:
______________________________
BUYER:
____________________________
ADDRESS: ______________________________
ADDRESS: ____________________________
PHONE:
______________________________
PHONE:
___________________________
OCCUPATION: ________________________
Resident of Canada
Non-Resident of Canada
As defined under the Income Tax Act.
PROPERTY:
Address:____________________________ Municipality:_______ PC: ________
Legal Description:
PID # _____________________ (the “Property”)
The Buyer agrees to purchase the Property from the Seller on the following terms and subject to
the following conditions:
1. PURCHASE PRICE:
The purchase price of the Property will be _____ DOLLARS ($_____) (the “Purchase Price”)
2. DEPOSIT:
A deposit of $_____ which will form part of the Purchase Price, will be paid on the following
terms:
(1) _________________________________________________________________________
All monies paid pursuant to this section (Deposit) will be delivered in trust to
_______________________ and held in trust in accordance with the provisions of the Real
Estate Act. In the event the Buyer fails to pay the Deposit as required by this Contract, the
Seller may, at the Seller’s option, terminate this Contract. The party who receives the Deposit is
authorized to pay all or any portion of the Deposit to the Buyer’s or Seller’s conveyancer (the
“Conveyancer”) without further written direction of the Buyer or Seller, provided that: (a) the
Conveyancer is a Lawyer or Notary: (b) such money is to be held in trust by the Conveyancer as
stakeholder pursuant to the provisions of the Real Estate Act pending the completion of the
transaction and not on behalf of any of the principals to the transaction; and (c) if the sales does
not complete, the money should be returned to such party as stakeholder or paid into Court.
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