Writing Agreements of Purchase and Sale
Home Purchase or Sales Agreements
Experienced home buyer or first-time property seller, don't miss out on opportunities to create a more legally binding agreement of purchase and sale.
Ontario real estate offers to purchase have standard features like inclusions and exclusions -- appliances, light fixtures, drapes and even furniture. What you don't see could be vital to making a valid real estate contract.
Axess Law helps you amend any real estate agreement to get better terms that work to your advantage. You pay more later to deal with situations you overlooked. Having us redraft your offer before it closes costs just $299.99 and up.
Rights and Obligations in Real Estate Forms
Ontario agreements of purchase and sale contain standard legal clauses developed by the Real Estate Council of Ontario (RECO). Realtors can fill in the blanks, but all those terms -- future property uses, inspections, documents and discharges, irrevocable clauses -- may affect your ability to complete the deal to your satisfaction. Your rights and obligations are limited by what you agree to when you sign standard agreements of purchase and sale.
By the book arrangements for 24- to 72-hour or less irrevocable periods, 10% down deposits and 30-day closing periods are fine if they suit your purposes. But what if you are moving to a new city to start a job or selling prime property in a hot market where you need a solid buyer commitment? Axess Law's legal professionals revise standard real estate forms to give you flexibility to make a purchase or sale easier to accept.
Protect your deposit if a home or property is in sale-worthy condition, just not to your high standards.
Including Legal Clauses in Real Estate Offers
Our Ontario real estate attorneys add specialized legal clauses to real estate sales or purchase contracts if you are:
- in a bidding war
- acquiring a heritage home
- buying a condo subject to repairs or fees
- purchasing waterfront property in Ontario
- waiting for the buyer's home to sell
- and more.
Special Legal Clauses for Ontario Real Estate
Standard RECO forms can leave off these typical situations and more.
Competitive Clauses for Bidding Wars
Bidding wars are won because prospective buyers are first to the table with conditions sellers desire. Our competitive clauses make your offer flexible enough to outdo other purchasers who make offers you don't know about.
Buying Heritage Homes in Ontario
Age and condition aside, heritage homes can be subject to municipal designated heritage property or heritage conservation district renovation and design bylaws. Getting insurance or a mortgage may rely on proving the home you want passes structural integrity and servicing standards. We write conditions into your APS to cover home inspection scenarios.
Paying Special Assessments or HOA Fees
Leaky condos are almost a thing of the past, but buying condos in Ontario could subject you to special assessments or HOA-type (home owner association) fees you didn't expect. Buyers can be surprised to discover condo special assessment disclosures that add thousands in home buying expenses or monthly fees to maintain common areas. Our legal clause add-ins give you a way to recover extraordinary expenses or back out of legal purchase contracts if needed.
Requesting Drinking Water Certificates
Buying a rural waterfront home in Ontario cottage country is exciting. We've got your back on water issues. Your mortgage lender or home insurance agent may only agree to a purchase if you include these water potability, private water well or co-op water clauses in your offer. Axess Law reviews your agreement to make sure you won't run out of drinking water or find the water is too contaminated to drink after you close a real estate sale.
Warranties for Rural Septic Systems
Who wants to make their first big purchase installing or replacing expensive septic systems? Before you look forward to relaxing weekends or vacations, let Axess Law amend your agreement to include legal clauses that put the onus on the seller to produce warranties the septic system is permitted, inspected and operating and meets Environmental Protection Act provisions. Representations or warranties can be used to make a legal or financial claim if something goes wrong before or after you move in.
Escape Clauses for Conditional Offers
Seller escape clauses unbind your hands when buyers have to sell property before purchasing yours. Escape clauses give buyers first right of refusal if you accept other offers so they have time to close the deal or walk away without penalty.
Adding Legal Clauses to Buy-Sell Offers
Axess Law can resolve almost any situation you can think of, from who owns the alarm system to rarely-used holdback or cash back agreements by sellers for missed deadlines or late repairs. Ask us if you are uncertain your purchase or sales agreement includes worst case scenarios. Sellers or buyers don't have to accept add-on legal clauses, but there's no harm in asking.
Why You Need a Lawyer
Having a lawyer review agreements of purchase and sale ensures you get answers to legal questions that may be bothering you. You avoid conflicts of interest that can arise when the same lawyer represents real estate buyers and sellers. Axess Law's Toronto area realty attorneys give you fair, affordable advice you can trust.
Our experienced local lawyers go through every detail of sales or purchase contracts. We strike clauses that commit you in ways you don't expect and point out obligations you may not be aware of. We explain every step of buying a home or selling real estate.
You could use an online agreement of purchase and sale or store-bought versions, but that won't give you the practical legal advice only a licensed Ontario lawyer can provide. We're up to date on any recent changes to real estate law in Ontario and assess your situation quickly and objectively.
Our fees are affordable. Call our 1-647-479-0118 lawyer line for a free quote on reviewing agreements of purchase and sale. Axess Law has lawyers nearby throughout Greater Toronto Area and can make remote video conference calls anywhere in Ontario.
Book Real Estate Lawyer Appointments
Our Greater Toronto Area law offices are open at times convenient for you. Drop by any of our law offices nearby to make an appointment. You can video conference online with real estate lawyers anywhere in Ontario by using our online booking form or calling our 1-647-479-0118 lawyer line. We set a date for you to email your draft agreement of purchase and sale to us before you sign and amend legal clauses that protect you as buyer or seller.