Fillable Printable Agreement of Purchase And Sale - Nova Scotia

Agreement of Purchase And Sale - Nova Scotia

meeting with the Buyer’s satisfaction. The Buyer shall be deemed to be

satisfied with this statement unless the Seller or the Seller’s Agent is

notified to the contrary, in writing, within ___________ hours of receipt.

The Seller warrants it to be complete and current, to the best of his/

her knowledge, as of the date of acceptance of this Agreement, and

further agrees to advise the Buyer of any changes that occur in the

condition of the property prior to the closing date. If notice to the contrary

is received, then either party shall be at liberty to terminate this

Agreement and the deposit shall be returned to the Buyer. Once

received and accepted, the Property Condition Disclosure

Statement shall form part of this Agreement of Purchase and Sale.

CLOSING DATE

4. This Agreement shall be completed on or before the _____________ day of

______________________________ 20_______ (hereinafter called the closing

date). Upon completion, vacant possession of the property shall be given to the

Buyer unless otherwise provided as follows:

_______________________________________________________________

The Seller shall use their best efforts to have the property empty by

__________ (a.m./p.m.) to facilitate the Buyer’s pre-closing viewing.

CONVEYANCE

5. The conveyance of the property, which is the subject of this Agreement, shall

be by ____________________________ Deed, (or general conveyance if

a mini/mobile home) drawn at the expense of the Seller, to be delivered on

payment of the purchase price on the closing date. The said property is to be

conveyed free from encumbrances, except as to any easements, registered

restrictions or covenants that affect the property and do not materially affect

the enjoyment of the property, except as specifically set out in paragraph 12 of

this Agreement.

DEPOSIT

1. The Buyer submits _______________________________________Dollars

($___________________) cash/cheque on or before _____________

______________________________ payable to Seller Brokerage in trust, as a

deposit to be held pending completion or other termination of this Agreement and

to be credited towards the purchase price on completion. Balance of purchase

price to be paid on closing or as otherwise stated in this Agreement. If the deposit

is not delivered as specified, the Seller shall be at liberty to declare this Agreement

null and void.

It is understood and agreed that if the Buyer does not complete this Agreement

in accordance with the terms thereof, the Buyer will forfeit the above deposit in

addition to any other claim which the Seller may have against the Buyer for the

Buyer’s failure to so complete. If the deposit is being returned to the Buyer, in

accordance with the terms of this Agreement, it shall be done without interest

or penalty (unless otherwise specified) and the release of the deposit from the

brokerage trust account is subject to the terms of the Real Estate Trading Act.

FINANCING

2. This Agreement is subject to the Buyer being able to obtain approval for financing

in a principal amount of approximately $ ____________________________

or ________________% of purchase price at an interest rate not to exceed

________________%. This financing shall be deemed to be arranged unless the

Seller or the Seller’s Agent is notified to the contrary in writing on or before the

_____________ day of ______________________________ 20_______. If

notice to the contrary is received, either party shall be at liberty to terminate this

Agreement and the deposit shall be returned to the Buyer.

PCDS

This Agreement is subject to the Seller providing to the Buyer, within

____________ hours of the acceptance of this offer, a current Property

Condition Disclosure Statement (for Resale condo includes Unit and

Parking Unit including any exclusive use common area storage and/

or exclusive use common area parking space), and that statement

PUBLISHED BY THE NOVA SCOTIA REAL ESTATE COMMISSION FORM 400-09/2010

Approved by the Nova Scotia Real Estate Commission for use by industry members under the Real Estate Trading Act

AGREEMENT OF PURCHASE AND SALE

PART 1: COMMON CLAUSES

Agreement of Purchase and Sale Schedule(s): is/are attached and form(s) part of this Agreement.

r Residential r Resale Condo r Vacant Land – Urban

r Vacant Land – Rural r Mini/Mobile Home r Multi-Unit Residential Income Properties

r Other __________________________________________________________________________________

Total # of pages including all Schedules ________________

The Buyer(s) _______________________________________________________________________________________________________________

of __________________________________________________________________________________________________________________ ____ __

r having personally viewed

r having not personally viewed

Buyer(s)

initials required

Offer Date: / /

Buyer’s Initials: Witness

Seller’s Initials: Witness

the following property offers to buy from the Seller(s) _______________________________________________________________________________

through Brokerage(s) ___________________________________________________ and _________________________________________________

Said property known as (Civic address/lot #) ______________________________________________________________________________________

(PID#)__________________________________ in the County of _________________________________________________ Province of Nova Scotia,

at a purchase price of ____________________________________________________________________ dollars. ($Cdn. ______________________ )

on the following terms subject to provisions in paragraph 9(a) regarding HST which must be initialed by the parties to this agreement.

(Listing)

(Co-operating)

Page 1 of 3

(b) The Buyer shall have the right, upon providing the Seller with reasonable

notice, to conduct a pre-closing viewing of the property to ensure that the

property is in the same condition as of the date of this Agreement.

survive the closing unless otherwise stated in this Agreement.

(d) Time shall in all respects be of the essence in this Agreement. In the event

of a written agreement of extension, time shall continue to be of the

essence. This Agreement shall enure to the benefit of and be binding upon

the parties, their respective heirs, executors, administrators, successors

and assigns.

(e) This Agreement is to be read with all changes of gender or number required

of the context. This Agreement shall constitute the entire Agreement,

between the parties.

(f) The Seller and the Buyer agree to be bound by offers and counter offers

and related documentation that may be transmitted electronically and that

reproductions of the signatures therein will be treated as originals.

PERMISSION TO PROVIDE INFORMATION FOR REPORTING,

APPRAISAL AND STATISTICAL PURPOSES

11. The Seller agrees that the sale and other related information regarding this

transaction may be retained and disclosed by the Nova Scotia Association

of REALTORS

or Associated Boards if the property was listed on the MLS

system for reporting, appraisal and statistical purposes.

ADDITIONAL TERMS AND CONDITIONS

12. This Agreement is further subject to the following terms and conditions:

_______________________________________________________________

LAWYERS’ APPROVAL

13. This Agreement is subject to the approval of both the Buyer’s and Seller’s lawyers

acting reasonably with respect to wording and content within the Agreement. This

approval shall be deemed to have been given unless the other party or their Agent

is notified to the contrary, in writing, on or before the _____________ day of

______________________________ 20_______ . If notice to the contrary is

received, then either party shall be at liberty to terminate this Agreement, and the

deposit shall be returned to the Buyer.

TAX VERIFICATION

6. This Agreement is subject to the Seller providing to the Buyer, on or before

the ____ of ______________, 20__, a copy of the current property tax

statement and that statement meeting with the Buyer’s satisfaction. The Buyer

shall be deemed to be satisfied with this statement unless the Seller or the

Seller’s Agent is notified to the contrary, in writing, on or before the ____ of

______________, 20__, If notice to the contrary is received, then either party

shall be at liberty to terminate this Agreement and the deposit shall be returned

to the Buyer.

DAMAGE PRIOR TO CLOSING

7. All lands, buildings, fixtures and all other property being purchased hereby

shall be and remain at the risk of the Seller. Pending completion of the sale,

the Seller shall hold all insurance policies and the proceeds thereof in trust for

the parties as their interests may appear, and in event of damage to the said

property, the Buyer may either have the proceeds of the insurance and

complete the purchase, or may terminate this Agreement and the deposit shall

be returned to the Buyer. (Not applicable to Agreement of Purchase and Sale

Resale Condo – see Clause 7 of Resale Condo Schedule).

ADJUSTMENTS

8. Interest, rentals, leases, taxes, rates, fuel on the premises and assessments

are to be adjusted to the closing date. The cost of municipal improvements,

including, but without limiting the generality of the phrase “municipal

improvements”, betterment charges and capital charges for utility or municipal

services completed as of the date of this Agreement, whether billed or not, are

to be paid by the Seller on or before the closing date unless otherwise stated.

HST

9. (a) All conveyances of real property in Nova Scotia are subject to the

Harmonized Sales Tax, hereinafter referred to as HST, unless the

conveyance is specifically exempt pursuant to the Excise Tax Act. The

facts required to determine exemption from HST are entirely dependant

upon the use of the property by the Seller or the intention of the Seller

when the property was purchased and are therefore accordingly within

the knowledge of the Seller only. The conveyance contemplated by this

Agreement shall be:

r Exempt from HST

r Not exempt from HST; included in purchase price

r Not exempt from HST; over and above purchase price

(b) If the conveyance contemplated by this Agreement is exempt from HST,

the Seller agrees to provide the Buyer, on or before the closing date, a

certificate in a form reasonably satisfactory to the Buyer certifying that the

conveyance contemplated by this Agreement is exempt from HST.

then the HST shall be remitted in accordance with the applicable legislation.

GENERAL

10. (a) Any tender of documents to be delivered or money payable may be made

upon the Seller or the Buyer or any party acting on their behalf. Money

paid, subsequent to the deposit, shall be by Solicitor’s trust cheque,

certified cheque, or their equivalent, drawn on a chartered Canadian

Bank, Trust Company or Credit Union.

PUBLISHED BY THE NOVA SCOTIA REAL ESTATE COMMISSION FORM 400-09/2010

AGREEMENT OF PURCHASE AND SALE PART 1: COMMON CLAUSES Page 2 of 3

Offer Date: / /

Buyer’s Initials: Witness

Seller’s Initials: Witness

Buyer(s)

initials required

Seller(s)

initials required

Sale of: ______________________________________________________ Buyer(s) _______________________________________________________

AGENCY RELATIONSHIP

14. The Seller and the Buyer acknowledge having received, read and understood

the brochure entitled “Working With A REALTOR

”, published by the

Nova Scotia Association of REALTORS

and acknowledge and confirm

as follows:

(a) The Seller

rdoes rdoes not have an agency relationship with

__________________________________________________________

Brokerage

and _______________________________________________________

Brokerage Representative

(b) The Buyer rdoes rdoes not have an agency relationship with

__________________________________________________________

Brokerage

and _______________________________________________________

Brokerage Representative

TIME FOR ACCEPTANCE

15. This offer shall be open for acceptance until __________ a.m./ p.m. on the _____day of ______________________________ 20 ______.

Dated at ________________________ in the Province of ____________, the _____day of ______________________________. 20 ______.

Signed, Sealed and delivered in the presence of In Witness whereof I have hereunto set my hand and seal

Witness ________________________________________________ Buyer _________________________________________________

ACCEPTANCE

16. I hereby accept the above offer and agree to sell on the terms set forth.

Dated at _______________________ in the Province of _____________, the _____day of ______________________________ 20 ______.

Signed, Sealed and delivered in the presence of: In Witness whereof I have hereunto set my hand and seal:

Witness ________________________________________________ Seller ________________________________________________

REJECTION

17. I hereby confirm this offer was presented and not accepted

___________________ ________________________________________

Time Date

______________________________________________________________ ______________________________________________________________

Seller Or Brokerage Representative Signature Name (Print)

COUNTER OFFER

18. I hereby confirm having read and understood this Agreement and have prepared a Counter Offer dated the _________day of ____________________________20____.

Seller ________________________________________________________ Seller ________________________________________________________

Seller’s Solicitor ________________________________________________________Phone _________________________ Fax ______________________________

Buyer’s Solicitor ________________________________________________________Phone _________________________ Fax ______________________________

Seller Brokerage Representative ___________________________________________Fax ___________________________ Email ____________________________

Buyer Brokerage Representative ___________________________________________Fax ___________________________ Email ____________________________

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SEAL

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SEAL



SEAL

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SEAL

PUBLISHED BY THE NOVA SCOTIA REAL ESTATE COMMISSION

FORM 400-09/2010

AGREEMENT OF PURCHASE AND SALE PART 1: COMMON CLAUSES Page 3 of 3

Sale of: ______________________________________________________ Buyer(s) _______________________________________________________

they will have consented to a Transaction Brokerage relationship with

__________________________________________________________

Brokerage

and _______________________________________________________

Brokerage Representative

and _______________________________________________________

Brokerage Representative

and have signed or agree to sign a separate Transaction Brokerage Agreement.