Fillable Printable Contract of Purchase and Sale for the Province of British Columbia

Contract of Purchase and Sale for the Province of British Columbia

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CONTRACT OF PURCHASE AND SALE

BUYER:____________________________________

ADDRESS:__________________________________

___________________________________________

___________________________PC:_____________

PHONE:____________________________________

OCCUPATION:_______________________________

SELLER:___________________________________

ADDRESS:_________________________________

__________________________________________

____________________________PC:___________

PHONE:___________________________________

Resident of Canada___Non-Resident of Canada___

As defined under the Income Tax Act.

PROPERTY:

UNIT NO.__________ADDRESS OF PROPERTY________________________________________________

CITY/TOWN/MUNICIPALITY:_______________________________________________PC_______________

PID_____________________________________________________________________________________

LEGAL DESCRIPTION:______________________________________________________________________

________________________________________________________________________________________

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 $____________________ (Purchase Price)

2. DEPOSIT: A deposit of $________________________which will form part of the Purchase Price, will be paid on the

following terms: _________________________________________________________________________________

______________________________________________________________________________________________

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 Services 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 Services Act pending the completion of the

transaction and not on behalf of any of the principals to the transaction; and (c) if the sale does not complete, the

money should be returned to such party as stakeholder or paid into Court.

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PROPERTY ADDRESS

3. TERMS AND CONDITIONS: The purchase and sale of the Property includes the following terms and is subject to the

following conditions: ______________________________________________________________________________

Each condition, if so indicated, is for the sole benefit of the party indicated. Unless each condition is waived or declared

fulfilled by written notice given by the benefiting party to the other party on or before the date specified for each

condition, this Contract will be terminated thereupon and the Deposit returnable in accordance with the Real Estate

Services Act. Call Axiom Mortgage Solutions, 1-888-449-6570 to help with your financing needs

4. COMPLETION: The sale will be completed on ___________________, yr._____________ (Completion Date) at the

appropriate Land Title Office.

5. POSSESSION: The Buyer will have vacant possession of the Property at 12 noon on__________________________

________________________________yr.____________ (Possession Date) OR, subject to the following existing

tenancies, if any: ________________________________________________________________________________

6. ADJUSTMENTS: The Buyer will assume and pay all taxes, rates, local improvement, assessments, fuel, utilities and

other charges from, and including, the date set for adjustments, and all adjustments both incoming and outgoing of

whatsoever nature will be made as of _______________________, yr._____________ (Adjustment Date).

7. INCLUDED ITEMS: The Purchase Price includes any buildings, improvements, fixtures, appurtenances and

attachments thereto, and all blinds, awnings, screen doors and windows, curtain rods, tracks and valances, fixed

mirrors, fixed carpeting, electric, plumbing, heating and air conditioning fixtures and all appurtenances and attachments

thereto as viewed by the Buyer at the date of inspection, INCLUDING: ______________________________________

_________________________________________________________________________________________________

BUT EXCLUDING: _________________________________________________________________________________

8. VIEWED: The Property and all included items will be in substantially the same condition at the Possession Date as

when viewed by the Buyer on________________________________________________________, yr. ___________.

9. TITLE: Free and clear of all encumbrances except subsisting conditions, provisos, restrictions, exceptions and

reservations, including royalties, contained in the original grant or contained in any other grant or disposition from the

Crown, registered or pending restrictive covenants and rights-of-way in favor of utilities and public authorities,

existing tenancies set out in Clause 5, if any, and except as otherwise set out herein.

10. TENDER: Tender or payment of monies by the Buyer to the Seller will be by certified cheque, bank draft, cash or

Lawyer’s/Notary’s trust cheque.

11. DOCUMENTS: All documents required to give effect to this Contract will be delivered in registrable form where

necessary and will be lodged for registration in the appropriate Land Title Office by 4 pm on the Completion Date.

12. TIME: Time will be of the essence hereof, and unless the balance of the cash payment is paid and such formal

agreement to pay the balance as may be necessary is entered into on or before the Completion Date, the seller may,

at the Seller’s option, terminate this Contract, and, in such event, the amount paid by the Buyer will be absolutely

forfeited to the Seller in accordance with the Real Estate Services Act, on account of damages, without prejudice to

the Seller’s other remedies.

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PROPERTY ADDRESS

13. BUYER FINANCING: If the Buyer is relying upon a new mortgage to finance the Purchase Price, the Buyer, while still

required to pay the Purchase Price on the Completion Date, may wait to pay the Purchase Price to the Seller until

after the transfer and new mortgage documents

have been lodged for registration in the appropriate Land Title Office,

but only if, before such lodging, the Buyer has: (a) made available for tender to the Seller that portion of the Purchase

Price not secured by the new mortgage, and (b) fulfilled all the new mortgagee’s conditions for funding except

lodging the mortgage for registration, and (c) made available to the Seller, a Lawyer’s or Notary’s undertaking to

pay the Purchase Price upon the lodging of the transfer and new mortgage documents and the advance by the

mortgagee of the mortgage proceeds pursuant to the Canadian Bar Association (BC Branch) (Real Property Section)

standard undertakings (the “CBA Standard Undertakings”). Call Axiom Mortgage Solutions, 1-888-449-6570

14. CLEARING TITLE: If the Seller has existing financial charges to be cleared from title, The Seller, while still

required to clear such charges, may wait to pay and discharge existing financial charges until immediately after

receipt of the Purchase Price, but in this event, the Seller agrees that payment of the Purchase Price shall be made

by the Buyer’s Lawyer or Notary to the Seller’s Lawyer of Notary, on the CBA Standard Undertakings to pay out and

discharge the financial charges, and remit the balance, if any, to the Seller.

15. COSTS: The Buyer will bear all costs of the conveyance and, if applicable, any costs related to arranging a mortgage

and the Seller will bear all costs of clearing title.

16. RISK: All buildings on the Property and all other items included in the purchase and sale will be, and remain, at the

risk of the Seller until 12:01 am on the Completion Date. After that time, the Property and all included items will be at

the risk of the Buyer.

17. PLURAL: In this Contract, any reference to a party includes that party’s heirs, executors, administrators, successors

and assigns; singular includes plural and masculine includes feminine.

18. REPRESENTATIONS AND WARRANTIES: There are no representations, warranties, guarantees, promises or

agreements other than those set out in this Contract and the representations contained in the Property Disclosure

Statement if incorporated into and forming part of this Contract, all of which will survive the completion of the sale.

19. ACCEPTANCE IRREVOCABLE ((Buyer and Seller): The Seller and the Buyer specifically confirm that this

Contract of Purchase and Sale is executed under seal. It is agreed and understood that the Seller’s acceptance is

irrevocable, including without limitation, during the period prior to the date specified for the Buyer to either: A) fulfill or

waive the terms and conditions herein contained; and/or, B) exercise any option(s) herein contained.

20. THIS IS A LEGAL DOCUMENT. READ THIS ENTIRE DOCUMENT & INFORMATION PAGE BEFORE YOU SIGN.

21. OFFER: This offer, or counter-offer, will be open for acceptance until_______________o’clock_____m, on

________________________________________, yr.__________ (unless withdrawn in writing with notification to the

other party of such revocation prior to notification of its acceptance), and upon acceptance of the offer, or counter-

offer, by accepting in writing and notify the other party of such acceptance, there will be a binding Contract of

Purchase and Sale on the terms and conditions set forth.

X_____________________________ _________________________________ ______________________________

WITNESS BUYER PRINT NAME

X_____________________________________ ______________________________________ _________________________________________

WITNESS BUYER PRINT NAME

22. ACCEPTANCE: The Seller hereby accepts the above offer and agrees to complete the sale upon the terms and

conditions set out above.

Seller’s acceptance is dated_______________________________________________, yr.__________________ __

X______________________________ _______________________________ ________________________________

WITNESS SELLER PRINT NAME

X_____________________________________ ______________________________________ ______________________________________

WITNESS SELLER PRINT NAME

CONTRACT OF PURCHASE AND SALE ADDENDUM

RE: ADDRESS:____________________________________________________________________________________

LEGAL DESCRIPTION:______________________________________________________________________________

__________________________________________________________________PID#:__________________________

FURTHER TO THE CONTRACT OF PURCHASE AND SALE DATED_________________________________________

MADE BETWEEN____________________________________________________________________AS BUYER, AND

________________________________________________________________________AS SELLER AND COVERING

THE ABOVE-MENTIONED PROPERTY, THE UNDERSIGNED HEREBY AGREE AS FOLLOWS:

X_____________________________ _________________________________ ______________________________

WITNESS BUYER PRINT NAME

X_____________________________________ ______________________________________ _________________________________________

WITNESS BUYER PRINT NAME

X______________________________ _______________________________ ________________________________

WITNESS SELLER PRINT NAME

X_____________________________________ ______________________________________ ______________________________________

WITNESS SELLER PRINT NAME