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Real Estate Pre Sale Agreement

Real Estate Pre Sale Agreement Template for Canada

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Key Requirements PROMPT example:

Real Estate Pre Sale Agreement

"I need a Real Estate Pre-Sale Agreement for a luxury condominium development in Vancouver, BC, with completion expected in March 2025, that includes specific provisions for exclusive amenities (private rooftop lounge, concierge service) and allows for customization of high-end finishes by purchasers."

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Document background
The Real Estate Pre-Sale Agreement is a fundamental document in Canadian property development, used when selling properties that are yet to be constructed or are under construction. This agreement type is particularly common in condominium and new housing developments across Canadian provinces, where properties are sold before completion. The document must comply with provincial real estate development marketing laws, consumer protection legislation, and federal regulations regarding property transactions. It typically includes comprehensive details about the property specifications, construction standards, completion timelines, payment structures, and warranty provisions. The agreement serves to protect both the developer's interests in securing sales and financing, and the purchaser's interests in ensuring delivery of the promised property. It's essential for risk management and establishing clear expectations in pre-construction property sales.
Suggested Sections

1. Parties: Identification of the Developer/Seller and the Purchaser with full legal names and addresses

2. Background: Context of the development project, property details, and purpose of the agreement

3. Definitions: Detailed definitions of key terms used throughout the agreement

4. Property Description: Detailed description of the property being sold, including legal description and unit details

5. Purchase Price: Statement of the purchase price, deposit requirements, and payment schedule

6. Completion and Closing: Terms and conditions for completion, estimated completion date, and closing procedures

7. Developer's Covenants: Developer's obligations regarding construction, warranties, and delivery of the property

8. Purchaser's Covenants: Purchaser's obligations including payments, cooperation with closing procedures, and compliance requirements

9. Representations and Warranties: Statements of fact and guarantees from both parties

10. Construction and Completion: Details about construction timeline, standards, and completion requirements

11. Adjustments and Closing Costs: Allocation of costs, taxes, and adjustments at closing

12. Default and Remedies: Consequences of default by either party and available remedies

13. Assignment: Terms regarding the ability to assign the contract to another party

14. Notice: Requirements for giving notice under the agreement

15. General Provisions: Standard contract clauses including governing law, severability, and entire agreement

Optional Sections

1. Parking and Storage: Details of parking stalls or storage units if included in the purchase

2. Strata Provisions: Required for condominium/strata properties, including bylaws and strata fees

3. View and Layout Protection: Specific provisions regarding protection of views or layout if guaranteed

4. Rental Pool Agreement: For properties with rental management programs

5. Foreign Buyer Provisions: Additional requirements if the purchaser is a foreign buyer

6. GST/HST Certificate: Special tax status declarations if applicable

7. Development Financing: Provisions related to the developer's construction financing if relevant to purchaser

8. Environmental Provisions: Special environmental requirements or certifications

9. Pre-Construction Changes: Process for handling changes during construction phase

Suggested Schedules

1. Schedule A - Property Plans: Detailed floor plans, site plans, and unit layouts

2. Schedule B - Features and Finishes: Detailed list of included features, materials, and finishes

3. Schedule C - Disclosure Statement: Required disclosures under applicable real estate development marketing laws

4. Schedule D - Payment Schedule: Detailed breakdown of deposit and payment requirements with dates

5. Schedule E - Permitted Encumbrances: List of permitted liens, encumbrances, and easements

6. Schedule F - Construction Standards: Detailed construction specifications and standards

7. Schedule G - Common Elements: Description of common areas and facilities (for strata properties)

8. Schedule H - Warranty Information: Details of construction warranties and coverage

9. Appendix 1 - Form of Transfer: Template for the transfer of title document

10. Appendix 2 - Assignment Agreement: Standard form for assignment if permitted

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 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 Development

Residential Construction

Commercial Real Estate

Property Management

Legal Services

Banking and Finance

Construction

Urban Planning

Property Investment

Real Estate Marketing

Relevant Teams

Legal

Real Estate Development

Sales

Compliance

Construction Management

Project Management

Risk Management

Finance

Operations

Marketing

Property Management

Contract Administration

Relevant Roles

Real Estate Lawyer

Property Developer

Real Estate Agent

Construction Manager

Project Manager

Legal Counsel

Development Director

Sales Manager

Compliance Officer

Contract Administrator

Real Estate Broker

Property Manager

Development Manager

Risk Manager

Financial Controller

Industries










Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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