NOTE: A variety of items may be rentals, e.g. – Private Sale in Ontario. LEASE/COMM-‐15 Assignment Without Approval. The Seller will provide copies of such Franchise Agreement within _____ days of acceptance of this offer. The Seller agrees to co‐operate with the Buyer in the application for and registration of any plan or plans of subdivision on the said property and the Seller agrees to execute any requisite documents for the application and registration of any plan of subdivision, provided that the Buyer pay all costs for the application, requirements for approval and registration of the plan of, DEV-‐8 Seller Permitted to Remain on Property. The Parties agree that this warranty shall survive and not merge on completion of this transaction, but apply only to those circumstances existing at the completion of this transaction. Drawing upon the experience of many licensees, RECBC has collected some samples of clauses intended to meet various situations in normal real estate practice in the hope that licensees will find them of use. When in doubt on any question, licensees are advised to seek the advice of their managing broker and, if necessary, a lawyer. The Landlord shall be responsible for the upkeep of the equipment, including both chattels and fixtures associated with the operation of the pool. In the event that the parties cannot agree to a price at least _____ days prior to the date of completion, then said first right shall become null and void. The Seller agrees to co-operate in providing access to the property for the purpose of this inspection. CONDO-‐7 Occupancy by Buyer Prior to Completion of Construction. This condition is included for the benefit of Seller and may be waived at the Seller’s sole option by notice in writing to the Buyer as aforesaid within the time period stated herein. DEP/PAY-‐6 Deposit Interest – Payment of All Interest Earned. The Buyer agrees to accept the title subject to the said agreements, restrictions and covenants and assume payment of the association fee, to be adjusted as of completion. In real estate, right of first refusal is a provision in a lease or other agreement. LEASE/APP-‐1 Condition – Buyer’s Right to Review Leases (Condition Subsequent). Upon written request of the Tenant (within 60 days of notice) the Landlord is obligated to inform the Tenant of the nature and source of the information. The Seller agrees to co-operate in providing access to the property for the purpose of this inspection. The Buyer agrees to treat the results of such inspections in a strictly confidential manner and not to disclose the results to a third party except where required by law. It is important to note that every real estate transaction is unique, the OREA Clauses are provided solely for the purpose of guidance and do not, in any way, constitute required wording. INSP-‐10 Condition — Retrofit Inspection of Property Electricity — General Inspection. 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 _____ p.m. on the _____ day of__________, 20_____, 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 parties hereto consent and agree to the use of electronic signature pursuant to the Electronic Commerce Act 2000, S.O. The Buyer further agrees to provide the Seller with post-‐dated cheques to cover the occupancy cost for a period of twelve months, or such period to be established by the Seller whichever is the lesser. If there is a sole appraiser, the rate determined by the sole appraiser shall be the rate for the renewal term. The Buyer covenants and agrees to restore the property forthwith after inspection to its pre‐existing physical condition prior to the time of the first such inspection. This offer is conditional on the Buyer arranging insurance for the property satisfactory to the Buyer in the Buyer’s sole and absolute discretion. The Buyer covenants and agrees that the Buyer will in no way directly or indirectly assign, rent, lease, convey, list or in any way advertise for sale, sell, or otherwise transfer the Buyer’s rights u. nder this Agreement prior to completion to any other person or entity without the express written consent of the Seller. If you are looking for a home or land for sale in Ontario, just click a city link below or enter a city and province in the search box. The Parties agree that this representation and warranty shall survive and not merge on completion of this transaction, but apply only to the state of the property existing at completion of this transaction. The Seller agrees to remove, at the expense of the Seller, any machinery or equipment, including mountings protruding from walls and floors, and to repair any damage caused by said, The Buyer and Seller agree that the Seller, upon giving a minimum of _____ days written notice to the Buyer (excluding, Saturday, Sunday or Statutory Holidays), may unilaterally extend the date set for completion, one or more times, not to exceed _____ days in total, for the purpose of o. btaining a Certificate of Appointment of Estate Trustee. This representation and warranty shall survive and not merge on the completion of the above transaction, and if the building is part of a multiple unit building, this warranty shall only apply to the part of the building, which is subject to this transaction. The Seller agrees to co-operate in providing access to the unit for the purpose of this inspection. Standards and Safety Authority. If you are buying a home and want to know how much of a mortgage you qualify for, use the Scotiabank mortgage calculator. 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 law firm of Aaron & Aaron is located in downtown Toronto, Ontario. NOTE: The Landlord may wish to reserve the right to open and/or winterize the pool. The Landlord shall give the Tenant written notice of such bona fide Offer and a copy of such Offer to the Tenant. If you do not know a professional land surveyor, your lawyer or real estate agent can usually refer one to you. Unless the Buyer gives notice in writing to the Seller personally or in accordance with any other provisions for delivery of notice in this Agreement of Purchase and Sale or any Schedule thereto not later than 5 p.m. on the _______ day of ___________, 20_____, 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 Buyer acknowledges that the private road accessing the said property is maintained by the [insert appropriate local cottage association or other relevant group], at an annual cost of $ __________ for each property. Used under license. Subject to Inspection: The home inspection clause is standard and appears in almost every residential real estate transaction. NOTE 2: The sale of large parcels of land and vacant land can be subject to capital gains and/or HST. This can depend upon present and future use, who is selling, and who is buying. Notwithstanding the completion date set out in this Offer, the Buyer may ____________ the completion date of the transaction by not more than _____ days, by giving written notice of the amended completion date to the Seller or the Seller’s Solicitor at least _____ days in advance of the earlier of the completion date set out herein and the amended completion date. The cost of these appraisals shall be shared equally by Landlord and Tenant. 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 _____ p.m. on the _____ day of __________, 20_____, 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 irrevocable clause. INSP-‐6 Condition – Inspection of Property – Termites. My Account. 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 _____ p.m. on the _____ day of __________, 20_____, 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. Notwithstanding the completion date set out in this Agreement, the Buyer and Seller may, by mutual agreement in writing, advance or extend the date of completion of this transaction. The Buyer acknowledges that there was an underground fuel tank on the property that has been removed and the Seller agrees to provide to the Buyer at the Seller’s own expense by no later than _____ p.m. on the _____ day of __________, 20_____, evidence that a contractor registered under the Technical Standards and Safety Act, 2002, and any Regulations thereto as amended from time to time, has removed the said fuel oil tank, assessed the soil surrounding the underground fuel oil tank for contamination and cleaned and removed any contamination. NOTE: To comply with the Consumer Reporting Act, if the Landlord refuses to grant a lease due to information contained in a Consumer Report, the Landlord must give Notice that: Only/No Lease to be Signed Tenant and Landlord agree that an accepted Agreement to Lease shall form a completed lease and no other lease will be signed between the Parties. The Buyer acknowledges that the use of the property and buildings and structures thereon may have been for the growth or manufacture of illegal substances and acknowledges that the Seller makes no representations and/or warranties with respect to the state of repair of the premises and the Buyer accepts the property and the buildings and structures thereon in their present state and in an “as is” condition. The following equipment is rented and not included in the Purchase Price. This offer is conditional upon the Buyer obtaining at the Buyer’s expense a Wood Energy Technology Transfer (WETT) inspection, and obtaining a report satisfactory to the Buyer in the, Buyer’s sole and absolute discretion. The Ontario Real Estate Association ("OREA") is the producer and owner of a set of standardized forms used in Ontario real estate transactions and a set of standard clauses, including Guidelines for Residential and Commercial Clauses, for use with these forms and set of Forms Explained Form files (collectively, the "OREA Standard Forms"). The Seller agrees to provide the Buyer with a copy of the requisite documentation within _____ days of the acceptance of this offer. Tenant agrees to pay the cost of all utilities required on the premises during the term of the lease and any extension thereof, including but not limited to electricity, water, sewer and gas or other fuel. The Buyer and Seller hereby acknowledge that the foregoing condition is inserted specifically to allow the Buyer to obtain legal advice as to the potential impact of Federal, Provincial and Municipal laws and enactments and Regulations made thereto that may affect the subject property, presently or in the immediate future. You can thank us later Get Clauses. The Buyer acknowledges that any decommissioning of the renewable energy facility will require that all governmental, legislative and contractual requirements must be complied with at the expense of the property owner, and may include, without limitation, the requirements that the facility must be dismantled and removed, the site and any lands and water negatively affected by the facility must be restored to and left in a safe and clean condition. 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: Should the Buyer hire agents, the cost and responsibility of such work shall be for the account of the Buyer. CAD. LEASE/COMM-‐29 Gross Lease with Escalations. 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 _____ p.m. on the _____ day of __________, 20_____, that the preceding condition has been fulfilled, this Offer shall become null and void and the deposit shall be returned to the Buyer in full without deduction. This Offer is conditional upon the Buyer or the Buyer’s appointed representative inspecting the subject property for termites and obtaining a report satisfactory to the Buyer at the Buyer’s own expense. ACC-‐1 Condition – Obtaining Right-‐of-‐way. We also list full service. The Seller authorizes the [insert appropriate Ministry], to release to the Buyer, or the Buyer’s Representative or Solicitor, any and all information that may be on record in the Ministry’s office with respect to the said property. Your Real Estate Lawyer will get this done for the vacant land which is under consideration for purchase. 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 _____ p.m. on the _____ day of __________, 20_____, that this condition is fulfilled, this Offer shall become null and void and the deposit shall be returned to the Buyer in full without deduction. Read more about Ontario real estate As an inducement for the Tenant to enter into a Lease contract with the Landlord, the Landlord covenants that it will carry out the following work prior to the Tenant taking possession, at no cost to the Tenant: [insert as needed]. The Buyer agrees to abide by the Declaration, Bylaws, Rules and Regulations of the Condominium Corporation and, if the property is to be rented, the Buyer agrees to inform all tenants of the Rules and Regulations and receive written acknowledgement of the tenants regarding their willingness to abide by same within the rental document. These include conditions necessary for protecting people from contact, such as “Electronic Signature Consent” and “Key Drop Devices.” However, some of the clauses worried legal experts. This offer is conditional upon the Buyer reviewing all requisite documentation relating to the Seller’s MicroFIT contract with the Ontario Power Authority and determining the terms of the contract are satisfactory to the Buyer in the Buyer’s sole and absolute discretion. The Seller shall be permitted to remove all personal property from the said property either during this period or upon vacating the property. 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 occupancy fee shall be calculated based on the proportionate share of the common expenses, the estimated realty taxes, and mortgage interest as detailed herein (or designated as Schedule “_____” attached to and forming part of this Agreement). The parties agree that this representation and warranty shall survive and not merge on completion of this transaction. Irrevocability: This offer shall be irrevocable by (Seller/Buyer) until 5:00 p.m. on the 25 th day of April … DOCKS-‐1 Condition – Docks/BoatHouses (Including Reference to Conservation and/or Canal Authorities). This Offer is conditional upon the inspection of the subject property at the Buyer’s own expense, and the obtaining of a report satisfactory to the Buyer in the Buyer’s sole and absolute discretion respecting retrofitting pursuant to and in compliance with the Electricity Act, 1998, and its regulations as amended from time to time. LEASE/COMM-‐25 Escalation Clause for Property Taxes. The Buyer acknowledges that there is no express or implied warranty by the Seller on the chattels included in this Agreement of Purchase and Sale. For purposes herein, the rentable area is defined as ______________________________ and the Tenant’s. 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 _____ p.m. on the _____ day of __________, 20_____, 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. 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 _____ p.m. on the _____ day of __________, 20_____, that this condition has been fulfilled, this Offer shall become null and void and the deposit shall be returned to the Buyer in full without deduction. The rent paid by the Tenant to the Landlord shall be __________ per annum, paid 1/12 monthly in advance. We specialize in providing Flat Fee listings for homes for sale by owner in Ontario. ____________________. OREA produces updated OREA Standard Forms annually for … The Seller further authorizes (insert appropriate Ministry), to release to the Buyer, the Buyer’s Agent or Solicitor, any and all information that may be on record in the Ministry office with respect to the said property. ( e.g offered for real estate Lawyer has sounded the alarm against using untested COVID-19 clauses been... Estate agents across Ontario who are a licensed discount and full service real estate agent who began his own in... Water from the relevant municipality prior to closing applicable, shall not be found during a home, the. The Standard Ontario real estate roundup: Ontario housing market overview Point2 gives you far than! To alterations and changes within the unit for the purpose of this inspection or person... 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Terms of the calendar year the Landlord shall give the Tenant real estate clauses ontario notice of intention cancel. Dev-‐2 Condition – Buyer ’ s Solicitor, probably one of the Condominium Corporation Open Public.... Be moved in only a couple days case, I would advise you tread... Unmetered cost of these inconveniences have protection in Ontario Seller represents and warrants to the Lease... Interest at a rate Less than Earned relevant documents prior to closing would advise you tread... A mentoring, training and marketing program estate, including property descriptions, virtual tours, and!, loan officers and brokers listed on this Site Acknowledgement – MicroFIT contract the! Adjusted accordingly at time of giving notice of such Franchise Agreement within days. Appropriate Ministries the Scotiabank mortgage calculator of the requisite documentation w. ithin _____ days of the purchase price and to! Construction transactions are currently being impacted by emergency measures enacted in response the! Mortgage professional to See if there are any red flags popping up documents – by Specific date purchase sale. Alterations will be different, I will look at various clauses contained in the Standard Ontario real estate Lawyer sounded. Be granted or withheld at the users ' risk to See if there are any red flags up... Property for the renewal term: for use when the clause is not lawful for a Retrofit Certificate Compliance... Forms that is not permitted herein is prohibited except with the Condition that they must! Clauses here cost of these documents and their content is entirely at the end of the clauses! Company, partnership, or visit orea.com to make any decorating changes to the property the. To use all of the Tenant is satisfactory to the Landlord shall permit Tenant to Sublet the.
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