Offer to Purchase Real Estate

THIS OFFER TO PURCHASE REAL ESTATE (the "Offer"), DATED March 30, 2023

IS MADE BY:

___________________________ of _________________________
(the "Buyer")

OF THE FIRST PART

- TO -

___________________________ of _________________________
(the "Seller")

OF THE SECOND PART

Background

The Buyer wishes to submit an offer to purchase a certain completed home from the Seller under the terms stated below.

IN CONSIDERATION OF and as a condition of the Seller selling the Property and the Buyer purchasing the Property (collectively the "Parties") and other valuable consideration the receipt of which is hereby acknowledged, the Parties to this Offer to Purchase Real Estate agree as follows:

1. Real Property
   
1. The legal description of the Property is as follows: ______________________________________________________________
   ______________________________________________________________, as further described in the attached exhibit, which includes the fixtures and improvements located on the Property that are listed within this Offer. All property included within this Offer is referred to as the "Property".
   
2. Chattels, Fixtures & Improvements
   
2. The following chattels, fixtures, and improvements are to be included as part of the sale of the Property: __________________________________________________________________________________________________________________________________________________________________________________________________________
   
3. Sales Price
   
3. The total purchase price of $__________ (the "Purchase Price") that is to be paid for the Property by the Buyer is payable as follows:
   
   1. The initial earnest money deposit (the "Deposit") accompanying this offer is $______________. The Deposit will be paid by cash on or before March 30, 2023. The Deposit will be held in escrow by ______________________________ until the sale is closed, at which time this money will be credited to the Buyer, or until this Offer is otherwise terminated; and
      
   2. The balance of the Purchase Price will be paid in cash or equivalent in financing at closing unless otherwise provided in this Offer. The balance will be subject to adjustments.
      
4. Return of Deposit
   
4. ______________________________ will return the Deposit to the Buyer if the Offer is rejected or expires prior to acceptance.
   
5. Sales Tax
   
5. If the sale of the Property is subject to Goods and Services Tax ("GST"), then such tax shall be in addition to the Purchase Price. If the sale of the Property is not subject to GST, the Seller agrees to certify on or before the Closing Date that the sale of the Property is not subject to GST, and will provide a GST exemption certificate to the Buyer on or before the Closing Date.
   
6. Offer Expiration
   
6. If the Offer is not accepted by the Seller by end of business day on March 30, 2023 (the "Offer Expiration"), the Deposit shall be immediately returned to the Buyer. The Buyer may not revoke the Offer prior to the Offer Expiration.
   
7. Offer is Binding Once Signed
   
7. Upon being signed by all Parties to this Offer, this Offer and all terms within will be binding, unless modified by agreement of all Parties in a subsequent agreement of purchase and sale.
   
8. If the Offer is accepted prior to the Offer Expiration and the Buyer fails to comply with the terms of the Offer, the Seller may treat the Offer as void and the Deposit will be forfeited to the Seller.
   
9. Closing & Possession
   
9. The Closing Date will be on or be prior to March 31, 2023 or at such other time agreed by the Parties, at which point the Buyer will take possession of the Property.
   
10. Residency
    
10. ___________________________ represents and warrants that he or she is not and on the Closing Date will not be a non-resident under the non-residency provisions of the Income Tax Act, R.S.C. 1985 which representation and warranty shall survive and not merge upon the completion of this transaction. ___________________________ shall deliver to the Buyer a statutory declaration that he or she is not then a non-resident of Canada.
    
11. Notices
    
11. All notices pursuant to this Offer must be written and signed by the respective party or its agent and all such correspondence will be effective upon it being mailed with return receipt requested, hand-delivered, or emailed as follows:
    
    

    Buyer Name: ___________________________ Address: _________________________ Phone: ___________________________ Email: ___________________________

    Seller Name: ___________________________ Address: _________________________ Phone: ___________________________ Email: ___________________________

12. Severability
    
12. If any term or provision of this Offer will, to any extent, be determined to be invalid or unenforceable by a court of competent jurisdiction, the remainder of this Offer will not be affected and each unaffected term and provision of this Offer will remain valid and be enforceable to the fullest extent permitted by law.
    
13. Interpretation
    
13. Headings are inserted for the convenience of the Parties only and are not to be considered when interpreting this Offer. Words in the singular mean and include the plural and vice versa. Words in the masculine gender mean and include the feminine gender and vice versa. Words importing persons include firms and corporations and vice versa.
    
14. Time of Essence
    
14. Time is of the essence in this Offer. Every calendar day except Saturday, Sunday, or a public holiday will be deemed a business day and all relevant time periods in this Offer will be calculated in business days. Performance will be due the next business day if any deadline falls on a Saturday, Sunday, or a public holiday. A business day ends at 5:00 p.m. local time in the time zone in which the Property is situated.
    

Buyer's Offer

This is an offer to purchase the Property on the above terms and conditions. The Seller has the right to continue to offer the Property for sale and to accept any other offer at any time prior to acceptance by the Seller. If the Seller does not accept this offer from the Buyer by March 30, 2023, this offer will lapse and become of no force or effect.