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Example Contract of Purchase and Sale of Real Property

This offer to enter into a contract of purchase and sale is made on June 1, 2023 by John Doe (the “Purchaser”) of Toronto, Ontario, Canada.

The Purchaser offers to purchase the property described as 123 St, Vancouver, British Columbia, Canada bearing a legal description of Lot 12, District 34 (the “Property”), from the owners thereof (the “Vendor”). The offer is subject to the terms and conditions set forth herein.

Purchase Price

The purchase price is $1500000.

Completion

The sale must be completed on or before July 1, 2023 (the “Completion Date”) at the appropriate Land Title Office. Tender or payment of monies by the Purchaser to the Vendor must be by certified cheque, bank draft, lawyer's or notary's trust cheque, or as otherwise agreed on in writing. All documents required to give effect to this contract must be delivered on or before the Completion Date and must be, where necessary, in a form acceptable for registration in the appropriate Land Title Office. If the balance of the cash payment is not paid and such formal agreement to pay the balance as may be necessary is not entered into on or before the Completion Date, the Vendor may, at the Vendor's option, terminate this contract.

Possession

The Purchaser will receive possession of the Property at 12:00 p.m. on June 1, 2023 (the “Possession Date”). If applicable, the Vendor must vacate the Property by the Possession Date.

Adjustments

The Purchaser will assume and pay all taxes, rates, local improvement assessments, fuel, utilities, and other charges from 12:00 p.m. on July 1, 2023, from which date all adjustments both incoming and outgoing of whatsoever nature will be made and the Vendor must pay all such charges to date.

This is only a small sample. The final document has at least three pages. Ready to get started?

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