Seller agrees to provide Buyer with the Registration number and all relevant documents prior to closing. This Offer is conditional upon the approval of the terms hereof by the Buyer’s Solicitor. Any appraiser appointed pursuant hereto shall be a person with the qualifications and experience requisite to appraise property of the type and location of the demised premises. OREA produces updated OREA Standard Forms annually for … LAW-­‐3 Legal, Accounting or Environmental Advice. 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 Buyer acknowledges that the property may contain a habitat or critical habitat as defined in the Species at Risk Act, SC 2002, C29, and/or a habitat as defined in the Endangered Species Act, 2007 S.O. NOTE: For use when the Clause is not included in the pre­‐printed Agreement to Lease. My Notification Settings. Therefore, access to the property through means of water and/or access to the water from the property may be difficult or not available. It's your choice. In this case the brokerage would have to inform the seller. You can list it, sell it all for no or little commission. The Seller shall pay taxes, insurance and utilities during this period. The parties to this Agreement hereby acknowledge and agree that the Deposit Holder shall be entitled to retain any interest earned or retained on the deposit, which is less than ____________________. The Seller agrees to co-­operate in providing access to the property for the purpose of this inspection. 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. Tenant further agrees to provide proof to the Landlord on or before the date of possession that the services have been transferred to the Tenant’s name. 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. The Tenant shall keep the lawns in good condition and shall not injure or remove the shade trees, shrubbery, hedges or any other tree or plant which may be in, upon or about the premises, and shall keep the sidewalks in front and at the sides of the premises free of snow and ice. When closing real estate transactions, sometimes an agreement on the price isn't the biggest obstacle for the buyer and seller to overcome. 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. This Offer is conditional upon the Buyer obtaining an Agreement to create an easement with (name of persons), for the purpose of (insert specific use), located and more particularly described as (outline planned location). This condition is included for the benefit of the Landlord and may be waived at the Landlord’s sole option by notice in writing to the Tenant as aforesaid within the time period stated herein. This Offer is conditional upon the approval of the terms hereof by the Buyer’s Solicitor. Tenant agrees to provide general maintenance for the swimming pool located on the premises, including cleaning, use of chemicals, opening and winterizing of pool. It means that the owner (or seller in the case of a trustee/foreclosure/estate sale) will not provide any repairs or improvements and will not assume any liability for any damages, problems, physical issues and condition of title. COMP-­‐3 Change of Completion Date – Mutual Agreement. The Tenant’s proportionate share of such common area shall be defined as the Tenant’s area defined herein, divided by the total rentable area, expressed as a percentage. KIT-­‐2 Buyer Acknowledges – Kitec Plumbing on Property. 2000, c17 as amended from time to time with respect to this Agreement and any other documents respecting this transaction.”, ENV-­‐1 Condition – All Environmental Laws Complied With. NOTE: Both conditions, INSP-­‐9 and INSP-­‐10, are required to be fulfilled for a Retrofit Certificate of Compliance. 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 be null and void and the deposit shall be returned to the Buyer in full without deduction. LEASE/COMM-­‐16 Chemicals – Compliance with Regulations, The Tenant’s use of the premises is to comply with all requirements of the municipal zoning bylaws, the requirements of the Ministry of the Environment and the rules and regulations of the. This warranty shall survive and not merge upon the completion of this transaction. INSUR-­‐1 Condition – Arranging Insurance. The Tenant may install in, upon, or about the said premises any signs and advertising material which shall remain the property of the Tenant, which the Tenant may remove upon the expiration of the Lease, provided that all damage caused is repaired and the premises left in good repair. 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. A road which is maintained on a year round basis at public expense; A road which is maintained on a seasonal basis at public expense; A road which is not maintained at public expense. 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. The Tenant shall have the option to cancel the Lease at any time during the Lease, provided that the Tenant gives the Landlord at least _____ days written notice of the Tenant’s intention to cancel, and provided that the Tenant is not in default at the time of giving of such notice, or at the time of termination itself. If you do not know a professional land surveyor, your lawyer or real estate agent can usually refer one to you. 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. This Offer is conditional upon the approval of the terms hereof by the Tenant’s Board of Directors. The Landlord will provide the Tenant with a minimum of __________ (_____) parking spaces, included in the rent, during the term of the Lease, and the Tenant and the customers, representatives and agents of the Tenant shall have the sole and exclusive right to use these parking spaces set out in Schedule “_____” attached. Deposit to ____________________ at the same rate of interest the Deposit Holder earns or receives on the Deposit Holder’s real estate trust account. Your real estate agent can guide you on price, which will determine your profit (or loss). The Seller shall provide to the Buyer, on or before completion, a statutory declaration or declarations establishing that the existing [road/path/lane], has been used by the Seller and/or predecessors in title to gain access to the said property for a period of _____ years. There would also be disclosure obligations if the same brokerage were representing both the buyer and the seller in a transaction and the buyer intended to assign the purchase to another buyer. The payment for this option shall be a cancellation fee of __________, payable at the time of giving notice of intention to cancel. Tenant, if not in default hereunder, shall have the option, by written notice, given to the Landlord at least _____ days before the end of the lease term, to renew the lease for a further year term on the following terms and conditions: (Itemize tenancy particulars as agreed by the Parties). If you're an experienced real estate agent, don't think for a moment that you know it all; I admit I don't, though I've been around a block or two. The parties to this Agreement hereby acknowledge that the Deposit Holder shall place the deposit in trust in the Deposit Holder’s interest bearing real estate trust account, which earns interest at __________, and the Deposit Holder shall pay any interest it earns or receives on the Deposit to ____________________ at the same rate of interest the Deposit Holder earns or receives on the Deposit Holder’s real estate trust account. Unless the Seller gives notice in writing delivered to the Buyer or to the Buyer’s address as hereinafter indicated personally or in accordance with any other provisions for the delivery of notice in this. The Buyer agrees to assume the rental contract(s) if assumable: ________________________(item) having a payment of $ _____________________, (monthly, quarterly, etc.) NOTE: The sale of large parcels of land and vacant land can be subject to capital gains and/or HST. Sometimes sellers receive an offer from someone with the condition that they they must sell their existing home by a certain date. My Settings. 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. 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. Tenant acknowledges the Landlord’s fire insurance on the premises provides no coverage on Tenant’s personal 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. NOTE: A variety of items may be rentals, e.g. HERIT-­‐1 Ontario Heritage Act Designation. 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. NOTE: Due to the nature of this clause, a short time frame should be chosen for this condition. It is understood and agreed that any lease arising from this Offer shall be based on a rental rate which shall include the Tenant’s proportionate share of realty taxes, outside maintenance, building insurance, heat, hydro, water rates, and management fees, if any. CONDO-­‐8 Occupancy by Buyer Prior to Completion – Payment of Occupancy Fee. The Landlord covenants and agrees with the Tenant that, during the term of the lease or any renewal thereof, the Landlord will give the Tenant three (3) business days to submit an Offer upon the same terms and conditions as any bona fide Offer to purchase the leased property that the Landlord has received and is willing to accept, and any Lease executed by the Landlord and Tenant shall include this first right of refusal. Unfortunately, the holdback clauses are often poorly worded, which can lead to unnecessary disputes. Flat Fee Listing Process . The Seller agrees that the Seller will, at the Seller’s expense, have the underground fuel oil tank on the property removed from the property by a contractor registered under the Technical Standards and Safety Act, 2002, and any Regulations thereto as amended from time to time by no later than _____ p.m. on the _____ day of __________, 20_____, and thereafter to have the soil surrounding the underground fuel oil tank assessed for contamination and any contamination cleaned and removed by a contractor registered under the Technical Standards and Safety Act, 2002, and any Regulations thereto as amended from time to time, and on or before closing to provide evidence of the said testing, cleaning and removal from the said contractor and to restore the grading and landscaping on the property to the existing or a comparable condition to which it was prior to the removal of the said fuel oil tank. The Tenant covenants to comply with all applicable governmental bylaws and codes governing the use of the demised premises. 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 __________. Choose the flat fee listing package that suits you best. ENV-­‐11 No Growth or Manufacture of Illegal Substances – Warranty. We specialize in real estate law, and it’s our job to ensure that nothing is missed and that your best interests are always protected. 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. Tenant agrees to be responsible for any repair or replacement cost due to the presence of any pets on the premises. These common area costs are currently estimated to be $ __________ per square foot per year, and will be adjusted annually according to actual costs. The unusual circumstances of the pandemic caused the Ontario Real Estate Association (OREA) recently to put out suggested “state of emergency” clauses that agents could use in contracts. This Offer is conditional upon the Buyer obtaining an Agreement to create an easement with (name of persons), for the purpose of (insert specific use), located and more particularly described as (outline planned location). DEP/PAY-­‐6 Deposit Interest – Payment of All Interest Earned. In the event of a discrepancy in area, the purchase price will be adjusted accordingly at time of completion. 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 irrevocable clause. 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. 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. EN FR. on the _____ day of __________. The Seller shall be permitted to remove all personal property from the said property either during this period or upon vacating the property. Environmental Protection Act and any amendments thereto. This warranty shall survive and not merge upon the completion of this transaction. INSP — 3 Condition – Inspection of Property – Limited Inspection. We specialize in providing Flat Fee listings for homes for sale by owner in Ontario. Unless the Buyer gives notice in writing 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 5 p.m. on the _____ day of __________. ActiveRain, Inc. takes no responsibility for the content in these profiles, that are written by the members of this community. __________________________________________________________________________. Unless the Landlord gives notice in writing delivered to the Tenant personally or in accordance with any other provisions for the delivery of notice in this Agreement to Lease 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 Tenant in full without deduction. ENV-­‐14 Underground Tank – Seller to Remove. 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. The Seller warrants that municipal services to the subject property include __________ and ______________________________ are available for use by the Buyer, Buyer to pay any usual connection charges. This Offer is conditional upon the Buyer determining, at the Buyer’s own expense, that a building permit for the structure indicated on Schedule “_____” attached hereto is available with respect to the property. to a maximum of _____ time(s), at a mutually agreed upon time(s). LEASE/COMM-­‐46 Shipping and Receiving Access. The Seller shall be permitted the right to remain upon and continue the Seller’s use of the real property, free of any payment of rent for a period of ____________________ after the date of completion, provided that the Seller agrees to vacate the property at the end of the period and provided that the Seller shall, during the period, maintain the lands and buildings in good repair and not permit waste upon the property. The Seller agrees to assign, and the Buyer agrees to assume, the existing land lease on the property, with [insert name of Tenant], a copy of which is attached as Schedule “_____”. The Tenant shall pay its proportionate share of any increase in property taxes and local improvement levies over the base year of 20_____. The Seller agrees to co‐operate in providing access to the property, if necessary, for any inspection of the property required for the fulfillment of this condition. This amount is to be credited towards the purchase price on completion of this transaction. CONDO-­‐1 Condition – Review of Condominium Documents – By Specific Date. 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. Working with an experienced real estate lawyer who knows the specific legislation in your area will help you if you have concerns about your home, cottage or property and what can or cannot be grandfathered. 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. ENV-­‐6 Agricultural Activities Acknowledgement. 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. Real estate roundup: Ontario housing market overview Point2 gives you far more than a simple list of houses for sale. Standards and Safety Authority. 20, 2020 A respected real estate lawyer has sounded the alarm against using untested COVID-19 clauses in property transactions. ENV-­‐12 Underground Tank – Compliance Warranty. ], used in conjunction with the property, and passing to the Buyer on completion, [has/have] received all necessary approvals and permits from the Ministry of Natural Resources, the Federal Government under the Navigable Waters Protection Act, Canada, from [insert appropriate conservation or canal authority as required], and from all other relevant authorities. 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. 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 __________. DOCKS-­‐1 Condition – Docks/BoatHouses (Including Reference to Conservation and/or Canal Authorities). Said occupancy fee shall be due and payable on a monthly basis, in advance, commencing on the 1st day of each month following the date of occupancy. CONDO-­‐4 Alterations/Changes to Unit During Interim Occupancy. LEASE/COMM-­‐29 Gross Lease with Escalations. The Landlord and Tenant agree that the rentable area of the leased premises is about _____ square feet, with the actual area to be adjusted accordingly, should the actual measurement differ. It is understood and agreed that, provided a formal lease has been executed by both the Landlord and the Tenant, and upon Tenant providing evidence of Tenant’s insurance satisfactory to the Landlord, the Tenant shall be granted possession of the demised premises on the_____ day of__________, 20_____, net rent free to the Lease Commencement Date, in order to prepare the premises for the operation of its business, provided that, during the said rent­‐free period, the Tenant shall comply with all the terms and conditions of the lease, and be responsible for the Tenant’s proportionate share of all expenses of the property, save and except for payment of minimum rent. This condition gives the buyer the right to have the home professionally inspected by a certified home inspector to evaluate the house that is being sold. A couple small requests are one thing, but we have seen people requesting mountains to be moved in only a couple days. The Seller agrees to co‐operate in providing access to the property for the purpose of this inspection. 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 Tenant shall have the right to assign its interests under this Lease to a limited company, partnership, or person. 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. 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. 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. One important contractual concept that may be implicated by COVID-19 is force majeure. This Offer is conditional upon the inspection of the subject property by a home inspector at the Buyer’s own expense, and the obtaining of a report satisfactory to the Buyer in the Buyer’s sole and absolute discretion. Either term may be used. If you are buying a home and want to know how much of a mortgage you qualify for, use the Scotiabank mortgage calculator. LEASE/COMM-­‐14 Assignment – Approval by Landlord. The Landlord covenants and agrees with the Tenant that, during the term of the lease or any renewal thereof, the Landlord will give the Tenant three (3) business days to submit an Offer upon the same terms and conditions as any bona fide Offer to purchase the leased property that the Landlord has received and is willing to accept, and any Lease executed by the Landlord and Tenant shall include this first right of refusal. 2007, C6. The Buyer shall take occupancy of the unit provided that the interior of the unit has been substantially completed, notwithstanding that the common areas have not been substantially finished. 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. Area shall be defined as ______________________________. LAW-­‐2 Condition – Lawyer’s Approval – Seller. DEV-­‐3 Condition – Suitability for Roads/Services. Such approval shall not be arbitrarily or unreasonably withheld or delayed. 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. Ontario Regulation 19/99 under the Land Registration Reform Act contains information on the requirements. Visit REALTOR.ca for the most comprehensive list of real estate listings in Canada from homes, condos, lofts, and much more! He joined the plaintiff’s team in large part due to the training … 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. Your real estate agent may advise you to put in an offer that is NOT conditional on financing (or anything, for that matter). ASSOCIATION FEES Landlord agrees to have the carpets professionally cleaned prior to the commencement of the lease at the Landlord’s cost, and Tenant shall have the carpets professionally cleaned at end of lease term at Tenant’s cost. Unless the Landlord gives notice in writing delivered to the Tenant personally or in accordance with any other provisions for the delivery of notice in this Agreement to Lease 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 Tenant 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 clause is designed to defeat competing offers by automatically increasing the buyer’s purchase price by a pre-set amount to trump a competing offer. – FSBO Listing in Ontario That said, probably one of the most important pieces of the real estate investing puzzle is the residential lease. 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. INSP-­‐15 Right of Re‐inspection Prior to Completion. Supply the Buyer not later than _____ p.m. on the _____ day of __________, 20_____, with all Leases and/or Offers to Lease which are in force at the time of acceptance of this Offer and a set of “as built” building plans for the development of the site (if such are in its possession); Allow the Buyer, its agents and employees, to inspect the land and improvements at mutually convenient time or times; and. Unless the Buyer gives notice in writing 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 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. NOTE: This Clause should be used in conjunction with an Insurance Clause specifically outlining insurance requirements. INSUR-­‐2 Condition – Arranging Insurance – Cost Not to Exceed. The Seller will provide copies of such Franchise Agreement within _____ days of acceptance of this offer. The terms of the purchase shall be the following: __________________________. “The parties hereto consent and agree to the use of electronic signature pursuant to the Electronic Commerce Act 2000, S.O. 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. Partial charges prior to the 1st day of the initial month shall be pro-‐rated accordingly. 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. But the Real Estate Council of Alberta is warning against the use of COVID clauses, saying it may not be in the seller’s or buyer’s best interests and advising parties to seek legal advice. An Ontario court recently refused to award damages after a real estate agent resigned from a brokerage before the end of his agreement, finding the clause to be a penalty clause and therefore unenforceable.. What Happened? Sign In. The Seller agrees to provide access to the property for the purpose of the inspection(s). 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. In real estate, right of first refusal is a provision in a lease or other agreement. This offer is conditional upon the Buyer’s lawyer reviewing the Status Certificate and Attachments and finding the Status Certificate and Attachments satisfactory in the Buyer’s Lawyer’s sole and absolute discretion. Percentage rent lease. 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. This Offer is conditional upon the inspection of the unit and common elements by _______________ and the obtaining of a report satisfactory to the Buyer at the Buyer’s own expense. LEASE/COMM-­‐32 Insurance – Tenant to Obtain. CHATT-­‐2 Chattels and Fixtures – Good Working Order. The Seller agrees to co‐operate in providing access to the property for the purpose of this inspection. 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 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 under this Agreement prior to completion to any other person or entity without the express written consent of the Seller. The Seller agrees to provide the Buyer with a copy of the requisite documentation w. ithin _____ days of the acceptance of this offer. LEASE/COMM-­‐9 Alterations and Improvements. 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 Tenant agrees to indemnify and hold harmless the Landlord from and against any claims, demands, losses, costs, damages, actions, suits or proceedings which may be brought or commenced by anyone or any group including any environmental agency or group as a result of the Tenant’s use of the premises or any breach by the Tenant of any rules, bylaws, and regulations. If there is a sole appraiser, the rate determined by the sole appraiser shall be the rate for the renewal term. The Buyer shall have the right at any time prior to closing, to assign the within Offer to any person, persons or corporation, either existing or to be incorporated, and upon delivery to the Seller of notice of such assignment, together with the assignee’s covenant in favour of the Seller to be bound hereby as Buyer, the Buyer hereinbefore named shall stand released from all further liability hereunder. The Tenant may, at the Tenant’s own expense, subject to the written approval of the Landlord, install any fittings, fixtures, and partitions that may be necessary for the operation of the Tenant’s business, from time to time during the lease term, provided that upon termination of the lease term or renewal thereof, the Tenant shall, at the option of the Landlord, restore the premises to its original condition, at no cost to the Landlord. Upon completion of the transaction, the Buyer agrees to abide by the Bylaws and Rules relating to alterations and changes within the unit. 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. The plaintiff was a real estate agent who began his own brokerage in 2012. When you begin to enter the world of real estate investing, there is so much information available for you to access that, at times, it can feel like you are trying to take a drink from a fire hose. 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. Within 10 days following the giving of the Second Notice (if given), the two appraisers shall appoint a third appraiser, failing which either party may apply to a judge of the Ontario Court (General Division) as persona designata to appoint the third appraiser. 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. 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 Tenant in full without deduction. OREA requires written consent through the execution of a separate licence agreement should Member Boards or Members wish to make the OREA Standard Forms available in any software/technology platform that applies functionality to them beyond Members downloading them in electronic file format or printing them. Tenant agrees not to make any decorating changes to the premises without the express written consent of the Landlord or his authorized agent. LAND/LSE-­‐3 Landlease – Option to Purchase. The __________________________ (buyer/seller) agrees to request at the ____________________ (Buyer/Seller) expense, the Status Certificate and _______________________ (Buyer’s/Seller’s) attachments within _____ days of acceptance of this Offer. LAW-­‐1 Condition – Lawyer’s Approval – Buyer. 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. Ontario Real Estate Association president Karen Cox says the government should use its current review of the act that governs Realtors in the province to bar the practice. We put the business in your hands. The Seller represents and warrants that the fuel oil tank in, on or about the property is in compliance with the requirements of the Technical Standards and Safety Act, 2002, and any Regulations thereto as amended from time to time and has been registered with the Technical Standards and Safety Authority. The Parties further acknowledge that no information provided by such real estate Broker(s) is to be construed as legal, tax or environmental advice. This can depend upon present and future use, who is selling, and who is buying. The Seller(s) acknowledge(s) and consent(s) to a third party taking photographs/videos of the property as required for the purpose of an inspection with respect to the above. These Standard Clauses have integrated notes with important explanations and drafting and negotiating tips. The Tenant shall have the first right of refusal on adjacent space if and when such space becomes available. ENV-­‐9 Environmental Warranty – All Laws Complied With. Throughout my career, during which I was consistently in the upper production echelon - virtually from day one - I was always growing, not only from reading and participating in training seminars, but from my peers. The Landlord shall have until not later than _____ p.m. on the _____ day of __________. 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. The Seller agrees to co­‐operate in providing access to the property for the purpose of this inspection. This condition is included for the sole 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. 20_____. If your property is in Ontario, YES! Attached hereto as Schedule “_____” is a copy of the Landlord’s standard Lease form, which the Landlord will alter to reflect the business terms defined herein, and the Tenant agrees to sign same subject to minor adjustments as negotiated between the Landlord’s and the Tenant’s Solicitors, both acting reasonably. NOTE: It is not lawful for a Landlord to “demand” post-­dated cheques for rent as a requirement when leasing residential premises. List your property for FREE then upgrade to a Flat Fee listing on REALTOR.ca. 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. What are Common Real Estate Subject Clauses in Contracts? COMP-­‐1 Change of Completion Date by Buyer. LEASE/APP-­‐1 Condition – Buyer’s Right to Review Leases (Condition Subsequent). 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. LEASE/COMM-­‐7 Condition – Zoning Satisfaction (Condition Subsequent). So, I will look at various clauses contained in the agreement and explain what they mean and how they impact the transaction. Or, the seller can … The Seller represents and warrants to the best of the Seller’s knowledge and belief that during the period of his ownership of the property, that all environmental laws and regulations have been complied with, no hazardous conditions or substances exist on the land, no limitations or restrictions affecting the continued use of the property exist, other than those specifically provided for herein, no pending litigation respecting Environmental matters, no outstanding Ministry of Environment Orders, investigations, charges or prosecutions regarding Environmental matters exist, there has been no prior use as a waste disposal site, and all applicable licences are in force. This is to ensure that you can obtain financing safely on the property and that the lender is satisfied with it. The plaintiff was a real estate agent who began his own brokerage in 2012. We receive many questions from clients regarding the clauses contained in the standard Ontario Real Estate Association Agreement of Purchase and Sale. 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. Any use of the OREA Standard Forms that is not permitted herein is prohibited except with the written consent of OREA. ANY PROPERTY IN ANY CITY. NOTE: This clause is a true Condition Precedent and neither a Seller nor a Buyer is entitled to waive this  condition. 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 __________. 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. 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 Fire Protection and Prevention Act, 1997, and its regulations as amended from time to time. In the event the foregoing condition is not fulfilled or waived by the Buyer, the Buyer agrees to provide the Seller with a true copy of the Inspection Report and all estimates related thereto prior to the return of the deposit herein. INSP-­‐10 Condition — Retrofit Inspection of Property Electricity — General Inspection. LEASE/COMM-­‐23 Electrical and Mechanical Equipment in Good Working Order. The Seller agrees to co-­operate in providing access to the unit for the purpose of this inspection. 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 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 removal. We also list full service. The Seller agrees to co-­operate in providing access to the unit for the purpose of this inspection. Your Real Estate Lawyer will get this done for the vacant land which is under consideration for purchase. In consideration of the sum of ____________________ ($ __________) paid by the Tenant to the Landlord, the receipt of which is hereby acknowledged, and in consideration of the terms and conditions herein recited, the Landlord gives to the Tenant an option irrevocable within the time limit herein for acceptance, to purchase, free and clear of all encumbrances, the lands and premises situated at ____________________ in the _______________ of _______________ in the _______________of _______________.
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