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The Simple Real Estate Sales Contract is a fundamental legal document used in Canadian real estate transactions to formalize the agreement between a buyer and seller of real property. This contract type is essential for both residential and commercial property transactions across Canadian provinces, providing a standardized framework while allowing for customization based on specific provincial requirements. It includes critical elements such as property description, purchase price, closing conditions, and various representations and warranties. The document ensures compliance with provincial real estate laws, the Statute of Frauds, and other relevant Canadian legislation. This contract is typically used when parties have agreed to basic terms and need to document their agreement in a legally binding format, serving as the foundation for the property transfer process.
