Offer to Purchase Real Estate

THIS OFFER TO PURCHASE REAL ESTATE (the "Offer"), DATED January 27, 2022 (the "Offer Date"),

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: ______________________________________________________________
   ______________________________________________________________ located at ________________________________, and includes the fixtures located on the Property except as provided for in this Offer. All property included within this Offer is referred to as the "Property".
   
2. Sales Price
   
2. The total purchase price for the Property is $__________ (the "Purchase Price"), payable as follows:
   
   1. The Buyer will pay a deposit of $______________ (the "Deposit") in cash to __________________________, to be held in escrow, on or before January 27, 2022. On the Closing Date, __________________________ will credit the Deposit to the Seller.
      
   2. The Buyer will pay the balance of the Purchase Price in cash or equivalent in financing at closing unless otherwise provided in this Offer. The balance will be subject to adjustments.
      
3. Return of Deposit
   
3. __________________________ will return the Deposit to the Buyer if the Offer is rejected or expires pior to acceptance.
   
4. Sales Tax
   
4. 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.
   
5. Offer Expiration
   
5. If the Offer is not accepted by the Seller by end of business day on January 27, 2022 (the "Offer Expiration"), the Deposit shall be immediately returned to the Buyer. The Buyer may not revoke the Offer prior to the Offer Expiration.
   
6. Offer is Binding Once Signed
   
6. 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.
   
7. 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.
   
8. Closing & Possession
   
8. The closing date will be on or be prior to January 28, 2022 (the "Closing Date") or at such other time agreed by the Parties, at which point the Buyer will take possession of the Property.
   
9. Conditions
   
9. The Buyer's obligation to purchase the Property is contingent upon the following enumerated condition(s):
   
   1. The Seller must provide the Buyer with a real property report prepared by a licensed  land surveyor on or before January 27, 2022. The Buyer can always waive this condition on or before January 27, 2022.
      
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 transmitted by facsimile as follows:
    
    

    Buyer Name: _________________________ Address: _________________________ Phone: _________________________ Facsimile: _________________________ E-mail: _________________________

    Seller Name: _________________________ Address: _________________________ Phone: _________________________ Facsimile: _________________________ E-mail: _________________________

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 January 27, 2022, this Offer will lapse and become of no force or effect.

Seller's Acceptance/ Counter-Offer/ Rejection

_____Acceptance of offer to purchase: The Seller accepts the foregoing Offer on the terms and conditions specified above, and agrees to convey the Property to the Buyer.

_____Counteroffer: The Seller presents for the Buyer's Acceptance the terms of the Buyer's Offer subject to the exceptions or modifications as specified in the attached addendum.

_____Rejection: The Seller rejects the foregoing Offer.