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When entering the real estate market, whether buying or selling a property, the DuProprio form serves as a critical document outlining the nuances of traditional real estate transactions, avoiding the need for an agent. This form, specifically designed for the offer to purchase residential properties including single-family homes, condos, or vacant land, ensures both parties are well informed and agree upon terms such as identification of the parties involved, the object of the contract, price, payment terms, and conditions of the offer. It meticulously details everything from the buyer and seller's names and contact information to declaring the conditions under which the offer becomes null and void. Optional conditions can also be added to protect both parties, such as financing conditions or inspection requirements. By providing a structured outline for transactions, the DuProprio form intends to simplify the buying and selling process, making it accessible and straightforward for everyone involved. Whether addressing financing, declarations, obligations, or potential defects and irregularities, this form offers a comprehensive guide to ensure all legal requirements are met and understood, paving the way for smooth, secure property transactions. It’s important to note that while the DuProprio form is a valuable resource, consulting a legal professional for individual circumstances is advised, as it disclaims liability for the accuracy or sufficiency of its content.

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Offer to Purchase – Residential*

(single-family, condo or vacant land)

1. IDENTIFICATION OF THE PARTIES

BUYER 1 :

Name :

Address :

Telephone (res.) :

Telephone (work) :

Email :

BUYER 2 :

Name :

Address :

Telephone (res.) :

Telephone (work) :

Email :

Hereinafter the “Buyer”

SELLER 1 :

Name :

Address :

Telephone (res.) :

Telephone (work) :

Email :

SELLER 2 :

Name :

Address :

Telephone (res.) :

Telephone (work) :

Email :

Hereinafter the “Seller”

2. OBJECT OF THE CONTRACT

The Buyer promises to purchase, at the price and upon the terms set out below, the following property:

DESCRIPTION OF THE PROPERTY:

Address:

(number, street, city, province, postal code)

Cadastral designation (lot number):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Lot measurements :

 

 

 

X

 

 

 

m

ft and/or having an approximate surface area of

 

 

 

 

m2

ft2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CO-OWNERSHIP : (Fill in only if the property is held in co-ownership)

 

 

 

 

 

 

 

 

 

 

The property is held in

 

divided co-ownership

 

 

 

 

 

 

 

 

 

 

The unit is sold with

 

 

undivided co-ownership for a share equal to

 

 

 %

 

 

 

 

 

 

 

 

parking space(s) (no.

 

and/or cadastral designation

 

 

)

 

and

 

storage space(s) (no.

 

 

 

and/or cadastral designation

 

 

).

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

*The model documents on this web site are for reference purposes only; they can be modified by the parties, especially, without limitation, with respect to the provided conditions and time periods. In each case, we advise you to contact a lawyer or notary in private practice. DuProprio disclaims any and all liability with respect to the accuracy, sufficiency and relevance of the said models. DuProprio is not a real estate agency and does not represent the seller or the buyer.

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3.PRICE AND PAYMENT TERMS

3.1PRICE: The purchase price shall be

dollars (indicate the amount

in words) which the Buyer agrees to pay in full upon the execution of the deed of sale.

3.2PAYMENT TERMS (optional): The Buyer undertakes to pay the full purchase price as follows: DOWNPAYMENT (including the deposit, if applicable) according to the method and within the deadline indicated by the acting notary, to be held in trust:

MORTGAGE LOAN in accordance with paragraph 6.1.1 and according to the method and within the deadline indicated by the acting notary, to be held in trust:

TOTAL PRICE (= downpayment + mortgage loan):

The total price will be released to the Seller following the execution of the deed of sale and the registration at the Land register by the acting notary.

3.3DEPOSIT (optional): With this offer to purchase, the Buyer gives a sum of

dollars

$

(Indicate the amount in numbers)

$

(Indicate the amount in numbers)

$

(Indicate the amount in numbers)

$

(Indicate the amount in numbers)

$

(Indicate the amount in numbers)

(indicate the amount in words) by cheque payable to “Mtre,

Notary, in trust’’ (Buyer’s notary) as a deposit on the purchase price due. This amount will be deposited once all of the conditions of this offer to purchase have been met and will be applied against the purchase price. Should this offer to purchase become null and void, the deposit shall be immediately reimbursed to the Buyer without interest.

4.DECLARATIONS AND OBLIGATIONS OF THE BUYER

4.1DECLARATIONS :

a)Subject to paragraph 6.2.1 and unless otherwise indicated in paragraph 8, the Buyer has visited the property on

20

 

and declares himself satisfied therewith;

b)The Buyer declares having made the proper verifications with competent authorities regarding his intended use of the property (based on the zoning) and declares himself satisfied therewith.

Before making this declaration, the Buyer may consult a notary or lawyer in private practice to verify whether any particular intended use (for e.g. bi-generation, daycare, professional office, etc.) complies with municipal zoning bylaws.

4.2FEES : The Buyer shall assume all fees and expenses of the deed of sale, its publication and the required copies. If the Buyer obtains financing from a financial institution which requires any test, evaluation, inspection or other, their cost shall be borne by the Buyer.

4.3LEASING CONTRACTS: The Buyer shall assume the following appliance and equipment leases:

4.4NON-ASSIGNABILITY: The Buyer may not sell, assign or otherwise alienate any of his rights in this offer to purchase without the prior written consent of the Seller.

5.DECLARATIONS AND OBLIGATIONS OF THE SELLER

5.1DECLARATIONS: The Seller declares, unless otherwise indicated in paragraph 8 or in the “Declaration of the Seller”:

a)The Seller is not aware of any factor relating to the property which could substantially reduce its value or the income generated thereby, or increase the expenses relating thereto (for e.g. environmental issues, harmful noise or odors, construction or development project, etc.);

b)The Seller has not received a notice, from a competent authority or an insurer, indicating that the property does not comply with the laws and regulations in force, and with which he has not complied;

c)The property is not part of a housing complex within the meaning of the Act respecting the Régie du logement;

d)The property is not subject to the Act respecting the Preservation of agricultural land and agricultural activities;

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e)The property is not classified as cultural property and is not located in a historic or natural district, on a classified historic site or in a protected area pursuant to the Cultural Heritage Act;

f)The property complies with applicable laws and regulations relating to environmental protection;

g)The relevant municipality provides the property with water and sewer services;

h)The Seller is a resident of Canada within the meaning of federal and provincial taxation laws.

5.2DELIVERY: Unless otherwise indicated in paragraph 8, the property shall be delivered, upon the sale, in the same condition in which it was during the Buyer’s last visit.

5.3TITLE OF OWNERSHIP: The Seller guarantees the Buyer with a valid title of ownership, free of any prior claim, mortgage, real right or other charge, other than the usual and apparent servitudes of public utility.

5.4OWNERSHIP DOCUMENTS: The Seller shall provide the Buyer with a certified copy of its act of acquisition (for e.g. deed of sale) as well as a certified copy of a certificate of location describing the current state of the property. The cost of any new certificate of location shall be borne by the Buyer if it reveals no change from the certificate of location provided by the Seller. If the property is held in divided co-ownership, the certificate of location shall pertain to the private portion being sold. If the property is held in co-ownership, the Seller shall also provide the Buyer, as the case may be, with a certified copy (or, if unavailable, a copy certified by the Land register) of the declaration of co-ownership including the building by-laws or of the indivision agreement and any document adopted by the undivided co-owners. These documents shall be forwarded by the Seller to the Buyer’s notary at the latest thirty (30) consecutive days before the date on which the deed of sale is scheduled to be signed.

5.5FEES: The fees relating to the repayment (including any penalty due for early repayment) and to the striking-off of any loan secured by mortgage, prior claim or any other real right affecting the property shall be borne by the Seller where payment of those costs is not assumed by the Buyer.

5.6DEFECT OR IRREGULARITY: Should the parties be notified, prior to the execution of the deed of sale, of any defect or irregularity affecting the titles, or in the case of non-compliance with any declaration of the Seller contained herein, the Seller shall, within twenty-one (21) consecutive days following receipt of written notice to that effect, notify the Buyer in writing: (i) that he has remedied the said defect, irregularity or non-compliance at his own expense; or (ii) that he will not remedy it.

In the event that the Seller does not remedy the said defect, the Buyer may, within five (5) consecutive days following receipt of the Seller’s notice, notify the Seller in writing: (i) that he is purchasing the property with the said defect, irregularity or non-compliance, in which case the Seller’s warranty shall be reduced accordingly; or (ii) that he renders this offer to purchase null and void.

If the Buyer fails to notify the Seller within this five (5) day time period, this offer to purchase shall become null and void, in which case the fees, expenses and disbursements incurred by each party shall be borne by each party respectively.

5.7INTERVENTION OF SPOUSE (MARRIED OR CIVIL UNION): If all or part of the property constitutes the Seller’s family residence, or where rendered necessary by the Seller’s matrimonial regime, the Seller shall provide to the Buyer, as soon as this offer to purchase is accepted, his spouse’s written consent, and, where applicable, his spouse’s concurrence and undertaking to intervene in the deed of sale for the same purpose, failing which the Buyer may render this offer to purchase null and void by giving written notice to that effect.

6. OPTIONAL CONDITIONS OF THIS OFFER TO PURCHASE

IN THIS SECTION, ONLY THE CONDITIONS WHICH ARE CHECKED FORM AN INTEGRAL PART OF THIS OFFER TO PURCHASE. THE FOLLOWING LIST IS NON-EXHAUSTIVE: YOU MAY ADD CONDITIONS.

6.1FINANCING CONDITIONS (Check paragraph 6.1.1 or 6.1.2, depending on which is applicable to your situation)

6.1.1 Financing of the Buyer by a Mortgage Lender

a)Terms: This offer to purchase is conditional upon the Buyer obtaining a mortgage loan of at least $

(indicate the price offered in section 3.1 minus the downpayment) secured by a first

rank mortgage. The interest rate of the loan shall not exceed

 

 

% per year and the loan shall be

calculated according to a maximum amortization plan of

 

 

years for a minimum term of

 

years.

b)Undertaking of the Mortgage Lender : The Buyer shall, within ten (10) consecutive days following the acceptance of this offer to purchase, provide the Seller with a copy of the mortgage lender’s undertaking to grant the Buyer such a loan without conditions, or on condition of the sale of the Buyer’s property in the event paragraph 6.2.5 applies. The receipt by the Seller of such undertaking within that period shall have the effect of satisfying this condition.

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c)Default : Should the Buyer fail to provide the Seller with an undertaking within this ten (10) day time period or in the case of a refusal from the mortgage lender, the Seller may, within five (5) consecutive days following the expiry of said time period, notify the Buyer in writing:

i)that he renders the present offer to purchase null and void, without further recourse on either side;

OR

ii)that the Buyer must immediately submit a new application for a mortgage loan to a mortgage lender determined by the Seller, respecting the terms of paragraph 6.1.1 a). Should the Buyer fail to provide the Seller with an undertaking within the time period provided in the Seller’s notice or upon presentation, by the Buyer, of evidence of the refusal from the mortgage lender, the present offer to purchase shall become null and void.

Should the Seller fail to notify the Buyer, this offer to purchase shall become null and void upon expiry of this five

(5) day time period.

OR

6.1.2Proof of Availability of Funds in case of Cash Sale

a)Terms : This offer to purchase is conditional upon the Buyer providing the Seller, within ten (10) consecutive days following the acceptance of this offer to purchase, with any document proving:

i)that the Buyer has the necessary funds to cover the purchase price; or

ii)that the Buyer has accepted an offer to purchase on a property which he owns, and that all conditions thereof have been fulfilled, excluding the execution of the deed of sale, as well as evidence (for example, a letter from the mortgage lender) to the effect that the proceeds of such sale will be sufficient to cover the purchase price indicated at paragraph 3.1.

b)Default : Should the Buyer fail to provide the Seller with such documents within the time period provided, this offer to purchase shall become null and void when that period expires.

6.2 OTHER CONDITIONS (Check only the applicable conditions)

6.2.1 Inspection (Check only if applicable)

This offer to purchase is conditional upon the Buyer being able to have the property inspected at his expense by a building expert within seven (7) consecutive days following the acceptance of this offer to purchase. Should this inspection reveal the existence of defects or other factors affecting the property, which could substantially reduce its value or the income generated thereby, or increase the expenses relating thereto, the Buyer shall so notify the Seller in writing and shall give him, within four (4) consecutive days following the expiry of the above-mentioned time period, a copy of the inspection report as well as his decision to: (i) purchase in accordance to the terms of this offer to purchase; (ii) propose an amendment to this offer to purchase; or (iii) declare this offer to purchase null and void. If the Buyer fails to carry out the inspection or notify the Seller pursuant to the above-mentioned terms in the time period provided, he shall be deemed to have waived this condition.

6.2.2Drinking Water Quality and Septic Systems Compliance Tests (Check only if applicable)

The Buyer shall have seven (7) consecutive days following the acceptance of this offer to purchase to have a drinking water test conducted and to have the septic systems’ compliance verified, at his expense. Should the result of these tests reveal that the water is unfit for human consumption or that the septic systems are not compliant, the Buyer shall so notify the Seller in writing and give him a copy of this result within four (4) consecutive days following the expiry of the above-mentioned time period. This offer to purchase shall become null and void following receipt by the Seller of such notice together with this result. Should the Buyer fail to conduct the tests or notify the Seller in the time period provided, the Buyer shall be deemed to have waived this condition.

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6.2.3Review of Divided or Undivided Co-ownership Documents (Check only if applicable)

This offer to purchase is conditional upon the Buyer reviewing the declaration of co-ownership, including the building by-laws, or the indivision agreement and any document adopted by the undivided co-owners, as well as the following documents:

To this effect, the Seller shall provide the Buyer with a copy of these documents within five (5) consecutive days following the acceptance of this offer to purchase. Should the Buyer be unsatisfied after reviewing these documents and therefore wish to withdraw this offer to purchase, he shall so notify the Seller in writing, within seven (7) consecutive days following receipt of these documents. This offer to purchase shall become null and void upon receipt of such notice by the Seller. Should the Buyer fail to notify the Seller in the time period provided, the Buyer shall be deemed to have waived this condition.

6.2.4Waiver of a Pre-emptive Right Provided in an Indivision Agreement or elsewhere (Check only if applicable)

This offer to purchase is conditional upon the Seller obtaining from any undivided co-owner who benefits from a right to acquire the property by preference over the Buyer, a written waiver of such right and to submit it to the Buyer within five (5) consecutive days following the acceptance of this offer to purchase. Receipt of such a waiver within this time period shall fully satisfy this condition. Should the Seller fail to provide the Buyer with such waiver within the time period provided, this offer to purchase shall become null and void.

6.2.5Sale of the Buyer’s Property and 72-Hour Clause (Check only if applicable)

a)Terms : This offer to purchase is conditional upon the sale of the Buyer’s property located at

 

 

 

 

 

,

before

 

20

 

.

 

Receipt, within this time period, of a written notice from the Buyer that the present condition is fulfilled or waived, together with either the undertaking of a mortgage lender to grant him a loan without conditions or proof respecting the terms of paragraph 6.1.2 a), shall fully satisfy this condition.

Should the Buyer be unable to meet the requirements of this condition within the time period provided, this offer to purchase shall become null and void when that period expires.

Notwithstanding this condition, the Buyer must proceed with the fulfilment of the other conditions as of the acceptance of this offer to purchase.

b)72-Hour Clause: The Seller may continue to offer the property for sale despite the acceptance of this offer to purchase. If the Seller accepts another offer to purchase, he shall so notify the Buyer by any means providing evidence of the time of receipt, as soon as all the conditions of this new offer to purchase have been fulfilled, excluding obtaining the cancellation of this offer to purchase. The Buyer shall then have seventy-two (72) consecutive hours from the receipt of such notice to inform the Seller in writing of his decision to:

i)remove all conditions of this offer to purchase which have not yet been fulfilled, including, without limitation, the condition of sale of the Buyer’s property, and to provide an undertaking from a mortgage lender to grant him a loan without conditions or proof respecting the terms of paragraph 6.1.2 a); or

ii)render this offer to purchase null and void.

Should the Buyer fail to notify the Seller within the time period provided, this offer to purchase shall become null and void when that period expires.

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6.2.6Acceptance Conditional Upon Cancellation of Another Accepted Offer to Purchase (Check only if the property is the object of another accepted offer to purchase, conditional upon paragraph 6.2.5)

The Seller declares that the property is the object of a conditional offer to purchase accepted on

.

Consequently, this offer to purchase is conditional upon the cancellation of the first offer to purchase. The Seller shall take the necessary steps to obtain the cancellation of the first offer to purchase as soon as all the conditions of this offer to purchase are fulfilled, excluding the present condition. Should the Seller fail to notify the Buyer in writing of the cancellation of the first offer to purchase on or before

20(allow for a deadline which takes into account the time period for the fulfilment of the conditions of this offer to purchase once it is accepted + 72 hours + 1 extra day), this offer to purchase shall become null and void. Receipt of a notice within the time period provided indicating that the first offer to purchase has been cancelled shall give full effect to this offer to purchase.

7.TRANSFER OF OWNERSHIP AND OCCUPANCY

7.1DEED OF SALE : The parties undertake to execute a deed of sale before the Buyer’s notary, on or before

20 . The Buyer shall become the owner of the property upon the execution of the deed of sale and shall assume the risks starting on such a date in accordance with article 950 of the Civil Code of Québec.

7.2OCCUPANCY: The property shall be available for occupancy by the Buyer as of

20

 

at

 

:

 

am

pm, and the Seller undertakes to leave the

property free of all possessions not included in this offer to purchase, failing which the Buyer may have them removed at the Seller’s expense.

If the occupancy of the property is subsequent to the execution of the deed of sale, the Seller shall pay to the Buyer the

amount of $(indicate the amount in numbers) per month, from the date of execution of the deed of sale until the expected date of occupancy, as compensation for the occupation of the property by the Seller during that period. This amount shall be withheld from the purchase price by the notary and delivered to the Buyer. In addition, the Seller shall remain responsible for the costs of heating, electricity and repairs deemed to be leasehold repairs during that period.

7.3ADJUSTMENTS: Upon the execution of the deed of sale, all adjustments in respect of general and special real estate taxes, income generated by or expenses relating to the property, fuel reserves, equipment leases, co-ownership expenses if applicable, etc., shall be made as of the date of execution of the deed of sale.

If the property is held in co-ownership, there shall be no adjustments in respect of the contingency fund and the operating fund of the co-ownership.

7.4INCLUSIONS: The following items are included in the purchase price and sold without any legal warranty of quality, but must be in working order at the time of delivery:

7.5EXCLUSIONS: The following items are excluded from the sale:

8.OTHER CONDITIONS OR DECLARATIONS

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Buyer’s Initials

8. OTHER CONDITIONS OR DECLARATIONS (CONTINUED)

9. CONDITIONS OF ACCEPTANCE

This offer to purchase is irrevocable until

 

:

 

am

pm, on

20

 

.

 

 

 

 

 

If the Seller accepts this offer to purchase within this deadline, it shall constitute a legally binding contract between the Buyer and the Seller. If the Seller does not accept this offer within this deadline, this offer to purchase shall become null and void.

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Buyer’s Initials

10. SIGNATURES

The BUYER acknowledges having read, understood and agreed to this offer to purchase and having retained a copy thereof.

Signed in

 

, on

 

 

 

, at

 

:

 

am

pm.

 

(place)

 

 

 

(date)

 

(time)

 

 

 

 

 

 

 

 

 

 

 

 

 

Signature of Buyer 1

 

 

 

Signature of witness

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Signature of Buyer 2

 

 

 

Signature of witness

 

 

 

 

 

 

11. SELLER’S REPLY

The SELLER acknowledges having read and understood this offer to purchase and having received a copy thereof.

I declare that I

Signed in

accept this offer to purchase.

make a counter-offer to this offer to purchase. 

refuse this offer to purchase.

, on

 

, at

 

:

 

am

pm.

(place)

 

(date)

(time)

 

 

 

 

Signature of Seller 1

 

Signature of witness

 

 

 

 

 

Signature of Seller 2

 

Signature of witness

 

12.ACKNOWLEDGEMENT OF RECEIPT (Following the acceptance of the offer to purchase only)

The BUYER acknowledges having received a copy of the above accepted offer to purchase from the Seller.

Signed in

 

, on

 

 

 

, at

 

:

 

am

pm.

 

(place)

 

 

 

(date)

 

(time)

 

 

 

 

 

 

 

 

 

 

 

 

 

Signature of Buyer 1

 

 

 

Signature of witness

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Signature of Buyer 2

 

 

 

Signature of witness

 

 

 

 

 

 

13. INTERVENTION OF SELLER’S SPOUSE (MARRIED OR CIVIL UNION)

The undersigned declares being the spouse of the Seller, consenting to, and if applicable, concurring with the acceptance of this offer to purchase, and undertakes to intervene in the execution of the deed of sale for all purposes that the law may require.

Signed in

 

, on

 

 

 

, at

 

:

 

am

pm.

 

(place)

 

 

 

(date)

 

(time)

 

 

 

 

 

 

 

 

 

 

 

 

 

Signature of Spouse of Seller 1

 

 

 

Signature of witness

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Signature of Spouse of Seller 2

 

 

 

Signature of witness

 

 

 

 

 

 

The model documents on this web site are for reference purposes only; they can be modified by the parties, especially, without limitation, with respect to the provided conditions and time periods. In each case, we advise you to contact a lawyer or notary in private practice. DuProprio disclaims any and all liability with respect to the accuracy, sufficiency and relevance of the said models. DuProprio is not a real estate agency and does not represent the seller or the buyer.

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Document Attributes

Fact Name Description
Identification of the Parties The form requires the detailed information of both buyers and sellers, including names, addresses, and contact information, establishing clear identification of all parties involved.
Object of the Contract It specifies that the buyer intends to purchase the property described in the contract, including details such as address, lot measurements, and co-ownership information, if applicable.
Price and Payment Terms Outlines the agreed purchase price, payment terms including downpayment and mortgage loan specifics, and conditions for releasing the total price to the seller.
Buyer and Seller Declarations and Obligations Both the buyer and seller must declare satisfaction with the property's condition, compliance with laws, and other specifics. They also have obligations regarding fees, leases, and ensuring clear title to the property.
Optional Conditions of the Offer The offer may include conditional terms such as financing, inspections, review of co-ownership documents, and specific deadlines for fulfilling these conditions to keep the offer valid.

How to Fill Out Duproprio

Filling out the DuProprio Offer to Purchase form is a critical step in the process of buying a residential property, whether it's a single-family home, condo, or vacant land. It's essential to complete this form accurately and thoroughly, as it constitutes a formal promise to purchase the property under the terms outlined. Following the correct steps ensures that your offer is legally binding and clearly communicates your intentions to the seller. Here's how you fill out the form:

  1. Identification of the Parties: Start by providing the full names, addresses, telephone numbers (both residential and work), and email addresses of all buyers and sellers involved in the transaction.
  2. Object of the Contract: Include a comprehensive description of the property, mentioning its address, cadastral designation, lot measurements, and if applicable, details about co-ownership shares, parking, and storage spaces.
  3. Price and Payment Terms: Precisely state the purchase price in words and numbers. Outline the payment terms, including the downpayment and mortgage loan details, if any. Specify the total price and mention any deposit made with this offer.
  4. Declarations and Obligations of the Buyer: Confirm that you have visited the property, are satisfied with it, and have verified zoning regulations for your intended use of the property. Agree to assume all fees related to the transaction.
  5. Declarations and Obligations of the Seller: Note any seller declarations regarding the property's condition and compliance with laws, including ownership documents and any defects or irregularities. The seller must also disclose any fees they will cover.
  6. Optional Conditions of this Offer to Purchase: Check any conditions that apply to your offer, such as financing, inspections, or the sale of the buyer's current property. Fill out the applicable sections thoroughly based on your specific conditions.

After completing these steps, review the form carefully to ensure all information is correct and complete. Both parties’ initials may be required on each page, depending on the form's layout. Remember, this form is a crucial document in the property buying process, and getting it right can help avoid misunderstandings or legal issues. After submitting this offer, the next steps typically involve negotiations based on the conditions listed in your offer, inspections, and the eventual closing of the sale if all conditions are met and both parties agree to proceed.

More About Duproprio

FAQs About the DuProprio Offer to Purchase Form

  1. What is the DuProprio Offer to Purchase form?

    The DuProprio Offer to Purchase form is a legal document used to outline an agreement between a buyer and seller for the purchase of residential property. This includes single-family homes, condos, or vacant land in Canada. The form specifies the terms, conditions, price, and payment details of the property transaction.

  2. Who needs to fill out the identification sections for the buyer and seller?

    Both the buyer(s) and seller(s) need to provide their full names, addresses, telephone numbers (residential and work), and email addresses. This information formally identifies the parties involved in the property transaction.

  3. How is the object of the contract defined in the form?

    The object of the contract is the property being sold. The form requires a detailed description of the property, including its address, cadastral designation (lot number), lot measurements, and, if applicable, details about co-ownership shares for parking and storage.

  4. What are the payment terms outlined in the form?

    The form details the purchase price, payment terms (including downpayment and mortgage loan details), and deposit information if applicable. It explains how the total price will be paid to the seller upon the execution of the deed of sale and its registration.

  5. What declarations and obligations must the buyer fulfill?

    Buyers need to acknowledge they have visited the property and are satisfied with it, have verified zoning regulations, and assume responsibility for all fees associated with the deed of sale and financing. They also need to agree to take over certain leasing contracts and cannot assign their rights without the seller’s consent.

  6. What are the seller's declarations and obligations?

    Sellers must declare their awareness of any issues that might affect the property's value, compliance with laws and regulations, and several other property-specific conditions. They are also responsible for providing a valid title and the necessary documents for the property, as well as covering certain costs related to clearing any mortgages or claims on the property.

  7. How are optional conditions of the offer to purchase handled?

    The form allows for optional conditions to be added, such as financing conditions, inspection requirements, tests for water quality and septic systems compliance, review of co-ownership documents, and others. These conditions must be checked and agreed upon by both parties.

  8. What happens if certain conditions are not met?

    If any of the conditions outlined in the contract are not fulfilled within the specified time frames, the offer to purchase may become null and void. Each condition has specific requirements for notification and resolution if not met, which can include the offer becoming void or the condition being waived.

Common mistakes

Filling out the DuProprio form, an essential document in real estate transactions, requires attention to detail and accuracy. Here are seven common mistakes people often make when completing this form:

  1. Incorrect Identification of Parties: Many individuals mistakenly provide incomplete or incorrect information regarding the buyer(s) or seller(s). This section requires full names, addresses, telephone numbers (both residential and work), and email addresses to ensure all parties are correctly identified.

  2. Property Description Errors: The property's address, cadastral designation, lot measurements, and surface area must be accurately detailed. Overlooking or misstating these details can lead to significant confusion or disputes later in the transaction process.

  3. Failing to Specify Co-ownership Details Correctly: If the property is held in co-ownership, specifying whether it is divided or undivided co-ownership and detailing the shares and designated spaces (parking, storage) is often overlooked or inaccurately filled in.

  4. Price and Payment Terms Ambiguities: Not clearly stating the purchase price in both words and figures, or leaving out details about the downpayment, mortgage loan, and total price calculation can cause misunderstandings regarding the financial terms of the sale.

  5. Omitting Deposit Information: The deposit section is sometimes left blank or filled incorrectly. It is crucial to specify the deposit amount in numbers and words, and whom it is paid to, ensuring these terms are agreed upon by both parties.

  6. Overlooking Declarations and Obligations: Buyers and sellers sometimes neglect to thoroughly review and complete the declarations and obligations sections, leading to potential legal challenges. It's vital to declare any factors that might affect the property's value, compliance with laws, or any leasing contracts accurately.

  7. Incorrectly Managing Optional Conditions: Optional conditions, such as financing, inspection, or the sale of the buyer's property, need to be meticulously checked or added as per the agreement between buyer and seller. Failing to accurately state these conditions can invalidate the offer or complicate the sale process.

Avoiding these mistakes requires careful review and understanding of the form's requirements. When in doubt, seeking legal advice from a professional can prevent errors and ensure a smooth transaction.

Documents used along the form

When engaging in the process of buying or selling property using the DuProprio form, several other forms and documents often complement the Offer to Purchase – Residential. These additional documents play a crucial role in ensuring that all legal, financial, and practical aspects of the transaction are covered comprehensively.

  • Property Inspection Report: This document is generated after a property has been inspected by a certified building inspector. It details the condition of the property, including any defects or issues that may affect the property's value or safety. It serves as a crucial tool for the buyer to make an informed decision or negotiate repairs.
  • Title Insurance Policy: Title insurance offers protection against losses that might result from title defects, undisclosed liens, or other legal issues with the property's title. It's a safeguard for both the buyer and the lender against potential title problems.
  • Mortgage Pre-approval Letter: This letter from a lender indicates that a buyer has been pre-approved for a mortgage up to a certain amount. It is used to demonstrate financial readiness and credibility to the seller, strengthening the buyer's offer.
  • Closing Disclosure: A closing disclosure is provided to the buyer by the lender at least three days before closing. This document outlines the final terms of the loan, including the interest rate, monthly payments, and closing costs. It ensures transparency and allows the buyer to review and confirm the agreed-upon financial details before finalizing the transaction.
  • Home Warranty Policy: This policy provides the buyer with coverage for the repair or replacement of major home systems and appliances that fail due to normal wear and tear within a specific period after closing. It offers peace of mind by mitigating the financial risk associated with unexpected repairs.

Collectively, these documents support the Offer to Purchase by addressing various contingencies, providing financial assurances, and ensuring the integrity of the property's condition and title. Both buyers and sellers are encouraged to understand and utilize these documents fully to safeguard their interests in real estate transactions.

Similar forms

  • The Real Estate Purchase Agreement: This form is foundational in real estate transactions, detailing the conditions under which a property will change hands from seller to buyer. It closely aligns with the DuProprio form by specifying the identification of the parties involved, the property description, price and payment terms, as well as any declarations and obligations from both buyer and seller.

  • The Bill of Sale: Commonly used in the transfer of ownership of personal property, the Bill of Sale resembles the DuProprio form in its function of documenting the terms of a sale, though it focuses more on movable items rather than real estate. Both documents serve as recorded proof of a transaction and outline specifics such as price and party details.

  • The Lease Agreement: Though primarily for rentals, the Lease Agreement shares similarities with the DuProprio form, especially in identifying the parties, property details, and conditions of use. Both ensure terms are agreed upon upfront to prevent future disputes, despite the difference in property interest (ownership vs. temporary use).

  • The Mortgage Loan Agreement: This document outlines terms for borrowers to finance real estate purchases, mirrored in the DuProprio form’s section on mortgage financing conditions. They both detail payment terms, interest rates, and other conditions critical to loan approval and the execution of a property sale.

  • The Title Report: While not a contract, the Title Report is essential in real estate transactions for disclosing the legal status of a property's title, similar to the declarations about the property’s legal standing found in the DuProprio form. Both aim to ensure transparency and prevent future legal issues regarding property ownership.

  • The Property Inspection Report: Echoes the DuProprio form’s conditional clauses regarding property inspection. It's a document that assesses a property’s condition before sale, aiming to disclose any defects or issues that could affect the transaction, paralleling the DuProprio’s emphasis on informed consent to the sale conditions.

  • The Co-ownership Agreement: Relevant for properties with shared ownership, this agreement shares similarities with the DuProprio form’s sections on co-ownership. Both detail the rights, shares, and obligations of each party, ensuring clear definitions of ownership extents and maintenance responsibilities.

  • The Conditional Sale Agreement: This agreement postpones the transfer of property ownership until certain conditions are met, which is a concept seen in the DuProprio form's optional conditions section. Both documents provide mechanisms to ensure that specific prerequisites, such as financing approval or satisfactory inspections, are completed before the sale finalizes.

Dos and Don'ts

Filling out the DuProprio form, an Offer to Purchase for residential properties such as single-family homes, condos, or vacant lands, requires careful attention to detail and an understanding of the terms. Here are some essential dos and don'ts to guide you through the process:

  • Do thoroughly review the entire form before filling it out to ensure you understand all sections and instructions.
  • Do provide complete and accurate information for all parties involved, including names, addresses, telephone numbers, and email addresses under the "Identification of the Parties" section.
  • Do clearly describe the object of the contract, including a detailed description of the property you intend to purchase, its cadastral designation, and lot measurements.
  • Do specify the purchase price in words and numbers to avoid any confusion, as outlined in the "Price and Payment Terms" section.
  • Do include any conditions of the offer, such as financing conditions or the results of inspections, in the relevant section and ensure they are clearly articulated.
  • Don't leave any sections incomplete. If a section does not apply, clearly mark it as "N/A" (not applicable) instead of leaving it blank to avoid misunderstandings.
  • Don't forget to consult a lawyer or notary in private practice, as advised by DuProprio, to ensure the accuracy, sufficiency, and relevance of the filled form.
  • Don't hesitate to ask for clarifications or seek legal advice if you encounter terms or clauses in the form that you do not understand. Making assumptions can lead to errors in the contract.
  • Don't sign the form until you and all parties involved have reviewed the completed form thoroughly and are satisfied that it accurately reflects the terms of the deal.

Completing the DuProprio form with diligence and care will help ensure a smooth transaction and protect the interests of all parties involved in the purchase.

Misconceptions

When considering the use of the DuProprio offer to purchase form for real estate transactions, several misconceptions may arise. It's pivotal to address these inaccuracies to ensure both buyers and sellers are well-informed during the process. Here are four common misconceptions and their clarifications:

  • Legal Representation Not Required: Many believe that utilizing the DuProprio form negates the need for a lawyer or notary. However, it's highly recommended to consult legal professionals when completing these forms. They can provide necessary legal advice and ensure that the agreements align with current laws and personal interests.
  • Fixed and Non-Negotiable: Another misconception is that the terms outlined in the DuProprio form are fixed and cannot be altered. In reality, parties are free to modify the conditions within the form, such as price, payment terms, and conditions of sale, to suit their specific agreement. Legal consultation can assist in these modifications to maintain fairness and legality.
  • Exclusivity to Certain Property Types: Some might mistakenly think the form is only applicable to single-family homes. However, the form explicitly includes various property types such as condos, vacant land, and includes provisions for properties with co-ownership aspects. Understanding this versatility is crucial for its effective application.
  • No Post-Agreement Responsibilities: Lastly, a common misunderstanding is that once the offer to purchase form is signed, all responsibilities are fully outlined, and no further action is needed. This overlooks critical post-agreement steps such as inspections, obtaining financing, and fulfilling other conditions stated in the form. Obligations like delivering necessary documents and ensuring the property meets declared conditions cannot be ignored.

Addressing these misconceptions is essential for both buyers and sellers to navigate the real estate transaction process smoothly. Proper comprehension of the DuProprio form's purpose, flexibility, and the importance of legal oversight can prevent future disputes and misunderstandings. Keeping well-informed and seeking professional advice where necessary ensures that all parties’ interests are adequately protected.

Key takeaways

  • Filling out the DuProprio form requires thorough identification of all parties involved, including names, addresses, phone numbers, and email addresses for both buyers and sellers. This foundational step ensures all communications and legal documents are correctly addressed.

  • The object of the contract should be detailed precisely, including the address of the property, cadastral designation, and specifics about co-ownership if applicable. Precision in this section prevents misunderstandings about what is being bought or sold.

  • Price and payment terms, including the total purchase price, downpayment, mortgage details, and any deposit made, need to be clearly stated. These details are crucial for financial planning and legal clarity on the sale’s financial structure.

  • Buyers must make several declarations and take on specific obligations, such as being satisfied with the property after a visit and assuming all related fees and expenses. This section underscores the buyer's responsibilities and the due diligence performed.

  • Sellers must also make crucial declarations about the property, covering everything from environmental issues to compliance with legal regulations. These assurances protect the buyer and ensure transparency.

  • The condition of the property upon delivery is agreed to be as it was during the buyer’s last visit, ensuring that the estate remains in the agreed-upon state up to the transfer of ownership.

  • Details about the title of ownership, including guarantees from the seller and the requirement for ownership documents, are pivotal. These points safeguard the buyer’s investment and confirm the property’s legal standing.

  • Optional conditions of the offer can significantly affect the transaction. These include financial contingencies, property inspections, compliance tests, and document reviews, offering both parties additional security and clarity.

  • Non-compliance or defects must be addressed by the seller, or the buyer has options to renegotiate or void the offer. This clause protects the buyer from unforeseen legal or structural issues.

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