Agreement of Purchase and Sale

Once you have found the home you want to purchase, you must put in a written offer. It is standard that all offers be accompanied by an Agreement of Purchase and Sale.

• Is a legally binding document;
• Includes a detailed list of fixtures and chattels that are included in the sale;
• Includes all important times and dates, such as the date your offer expires, the title search date, and the day you take possession;
• Can have additional clauses, such as conditions for home inspections or arrangements for financing; and
• Has an area for signing under seal. By signing the contract you give your promise to fulfill your end of the agreement.

I use the standard Agreement of Purchase and Sale forms, (Freehold and Condominium) as provided by the Toronto Real Estate Board. I would be happy to give you a blank copy, so that you may familiarize yourself.

After all the planning and searching, the moment you’ve been waiting for has finally arrived – you’ve found the home that you want to buy! Now, you must present the seller with an offer.

Presenting your offer can be extremely confusing and nerve-wracking. My knowledge, training, and experience will serve you well as I walk you through the process. As your realtor, I will:

• Help you customize your offer. Each offer is accompanied by the Agreement of Purchase and Sale, and by a deposit (usually 5-10% of the purchase price, or a minimum of $5,000.). Every transaction is different, and I can help you leverage your buying power;
• Call and register the offer with the Listing Agent, and set up a presentation time;
• Attend the presentation with you. At this meeting I will present your offer, help you understand the process of the counter-offer, and provide you with my professional advice;
• Use my expertise to negotiate the best possible price and conditions for you

Once your offer is accepted, there are still steps to be taken before you can move in. I will guide you through these final steps of the process:

Step 1: Any and all conditions or clauses that were added to the Agreement of Purchase and Sale must be removed. This may mean setting up a home or termite inspection, or arranging financing.

Step 2: As each condition is met, it must be waived from the Agreement of Purchase and Sale.

Step 3: Send all paperwork to your lawyer.

At this point, the paperwork is in the hands of your lawyer, and my job is technically over. Lawyers do not always maintain communication with realtors once they receive the final paperwork.

However, if any complications should arise before the closing date, do call me and let me know. I will do everything in my power to help resolve any issues. I am working for you.

“Closing Day” has come and gone, and you finally own your new home! But this doesn’t mean our relationship is over. I work hard to establish-and keep-relationships with my clients.

I will keep you informed of the real estate market, news and trends, and what’s new in the community by sending you my quarterly newsletter.

Now that your life is a little less hectic, I would like to ask you for your help. I would appreciate any feedback you have on your experience. Was there anything that I could have done better? Were there things that I did that you found helpful?

My business is by referral only. I prefer working with my clients to cold-calling or doing open houses, so I rely on your references to grow my business. I’d appreciate a letter of reference from you.

As time passes, you may find that you are outgrowing your home or wanting to live in a new neighbourhood. Or, perhaps a family member or friend has a real estate need. I would be happy to assist you or your friends and family again, so keep in touch!

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• Take Charge When buying your house Condo or loft
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• Closing cost when buying your house, condo or loft
• Basics of Making an Offer on a property
• The Agreement of Purchase and Sale
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