Real Estate Buyers Agreement Form

Real Estate Buyers Agreement Form Template for Canada

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Key Requirements PROMPT example:

"I need a Real Estate Buyers Agreement Form for three co-buyers looking to purchase commercial property in Vancouver, with a six-month term starting January 15, 2025, including provisions for international wire transfers and multiple representation scenarios."

Document background

The Real Estate Buyers Agreement Form is a fundamental document in Canadian real estate transactions that formalizes the professional relationship between property buyers and their chosen real estate representatives. This agreement is typically used at the beginning of the property search process, before any specific property is identified. It details the brokerage's commitment to represent the buyer's interests, the scope of services to be provided, and the agreed-upon compensation structure. The document ensures compliance with provincial real estate regulations and includes mandatory disclosures required by Canadian law. It protects both parties by clearly defining their rights, responsibilities, and expectations throughout the property search and acquisition process. This agreement is particularly important in establishing exclusive representation and ensuring that real estate professionals can be fairly compensated for their services.

Suggested Sections

1. Parties: Identifies the buyer(s) and the brokerage/agent, including full legal names and contact information

2. Background: Explains the context of the agreement - that the buyer wishes to engage the brokerage to assist in purchasing property

3. Definitions: Defines key terms used throughout the agreement, including 'Property', 'Agreement Period', 'Commission', etc.

4. Term of Agreement: Specifies the duration of the agreement, including start and end dates

5. Services to be Provided: Details the services the brokerage will provide to the buyer

6. Buyer's Obligations: Outlines the buyer's responsibilities and commitments under the agreement

7. Brokerage Obligations: Specifies the brokerage's duties, responsibilities, and standard of care

8. Commission Structure: Details the compensation arrangement, including rates and payment terms

9. Multiple Representation: Addresses situations where the brokerage represents both buyer and seller

10. Privacy Policy: Explains how personal information will be collected, used, and protected

11. Termination: Specifies how and when the agreement can be terminated by either party

12. General Provisions: Contains standard legal clauses including governing law, amendments, and notices

Optional Sections

1. Buyer's Team: Used when multiple professionals (mortgage broker, lawyer, etc.) are already selected and need to be listed

2. Property Preferences: Include when specific property requirements need to be documented as part of the agreement

3. International Buyers Provisions: Required for non-resident buyers, addressing specific legal and tax considerations

4. Digital Services: Added when specific online or virtual services will be provided

5. Holding Deposits: Include when the brokerage will hold deposit funds in trust

6. Assignment Rights: Used when the buyer may want to assign their rights under the agreement

Suggested Schedules

1. Schedule A - Buyer's Requirements: Detailed list of buyer's property preferences, requirements, and deal-breakers

2. Schedule B - Commission Schedule: Detailed breakdown of commission structures for different property types or price ranges

3. Schedule C - Service Package Details: Comprehensive list of services included in the agreement

4. Schedule D - Privacy Policy: Detailed privacy policy and information handling procedures

5. Appendix 1 - Mandatory Disclosures: Required provincial real estate disclosures and notices

6. Appendix 2 - Agency Relationships: Explanation of different types of agency relationships and obligations

7. Appendix 3 - Market Area Map: Definition of the geographic area covered by the agreement

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok��˰� | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Real Estate

Legal Services

Financial Services

Property Development

Property Management

Construction

Banking

Insurance

Relevant Teams

Legal

Real Estate Operations

Compliance

Sales

Client Relations

Documentation

Transaction Processing

Contract Administration

Relevant Roles

Real Estate Agent

Real Estate Broker

Real Estate Lawyer

Property Manager

Mortgage Broker

Legal Counsel

Compliance Officer

Real Estate Administrator

Brokerage Manager

Contract Manager

Real Estate Transaction Coordinator

Client Relations Manager

Real Estate Documentation Specialist

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