The Informed Home Seller s Guide...choosing the optimal list price is essential to maximizing your...

The Informed

Home Seller’s GuideBy Chris Cucoch

8 Steps to Becoming

an Informed SellerPlanning to sell? If you’re like most home owners, you’re struggling with a few questions. After all,

you’re about to sell the single biggest asset you’ve ever bought.

You might have questions like, What’s my home worth? Should I use an agent or go it alone?

What can I do to make my home as attractive as possible?

And of course, the big one: How do I get the most for my home?

The best way to start answering those questions is to be informed.

If I’ve done my job right, then this guide should:

a) Give you answers to many of those questions and

b)Make you feel a lot more confident about the whole process.

And if you still need more information? My job is to make things easier – just ask. That’s what

I’m here for. You can learn more about me and my services at the end of the guide.

Welcome aboard,

Chris Cucoch

Royal LePage Signature Realty

647-268-9274

[email protected]

https://calendly.com/cucochteam

8 Steps to Selling

Your Home

Choosing the Best Agent for the Job

Price Right to Profit More

Prepare to Amaze

Maximize Exposure to Buyers

Show it Off!

Negotiate Like a Master

Calculating Your Net Proceeds

Book A Meeting

Sample Forms

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Apendix

Steps


647 268 9274 | [email protected] | www.cucochteam.com | Chris Cucoch.

Most sellers use a real estate agent. You certainly don’t have to, but there are good reasons why

most people still do:

1. Pricing is a real art.

The biggest factor in determining how quickly your home sells is the price, and deciding that price

is trickier than it seems. It takes experience and even 1% more for your home can mean

thousands to your bottom line.

2. Negotiating is hard.

Not just hard to do, but it can feel uncomfortable. If you want someone to negotiate fearlessly on

your behalf, you need an agent.

3. Marketing is more than MLS.

To get the most for your home, you need as many buyers interested as possible. According to

REALTOR.ca, over 80% of real estate sales are the result of agent contacts.

4. Showings and paperwork are a pain.

There’s more to the legal side of a home sale than you might think, and showing your own home

is not only awkward, it can really complicate your schedule.

An agent takes away the burden of all these things, and works to get your home sold for the best

price in the fastest time. After all – you’ve got a life to live!

Choosing the Best

Agent for the Job

STEP

01

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Setting the price for your home is challenging. Too low, and you leave money on the table. Too

high, and you scare away buyers to other properties. To complicate all this, your home is an

emotional asset—it’s hard to see it objectively.

Pricing is something agents spend their careers refining and mastering. They combine intimate

local and national market knowledge, an exhaustive study of similar homes for sale, and an

analysis of past sales to come up with the optimal list price. And then they combine that with your

unique needs to pick a price that fits you.

It’s no easy task, but it’s a critical one. Pricing your home right

the first time results in more exposure, more showings, more

offers, and ultimately, the highest price for your home.

If you want to get as much for your home as possible within a

reasonable time frame, you need to get the price right.

First, it is important to understand that only the market can

determine the ultimate value of your home. That said,

choosing the optimal list price is essential to maximizing your

home’s value. If you price too low, you risk not getting as

much as you can for your property, but price too high and you

risk losing potential buyers who may think your property is out

of their price range and you help your competition sell faster.

Price Right to

Profit More

STEP

02

Pricing your home

right the first time

results in:

✓ More exposure

✓ More showings

✓ More offers

✓ BEST price

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After price, the condition of your home is the single biggest factor determining how fast—and for

how much—your home sells.

REALTORS® repeatedly find that people cannot visualize the potential of a home. They have to

see it. That means that how your home shows now is how people see themselves in it. They can’t

see past the chips, leaks, clutter and stains—in fact, they tend to focus even more on those

things. Luckily, you can dramatically improve how your home sells with few quick steps:

Clean – Inside and out. It matters. A lot.

De-clutter – Give it away, throw it away or store it away, but get it out of your house.

Make minor repairs – Chipped paint, cracked tiles, squeaky hinges, leaky faucets – Fix

everything you can.

Consider staging – According to the National Association of REALTORS®, staged homes

sell 49% faster, and for 7-11% more money.

Clean again – Really. It’s that important.

Sound overwhelming? You don’t need to do it overnight. Your agent can point you to someone

who can help, or you can break it down into just one small task a day. Think of it this way:

everything you remove from the house, clean or repair puts money in your pocket. You’re

getting paid to do it!

Prepare

to Amaze

STEP

03

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Once you’ve found a price for your home and put it in showroom condition, there’s one more

critical piece of the puzzle before buyers begin flocking in to see your masterpiece: their attention.

Getting the word out about your home matters for two critical reasons. First, buyers can’t be

interested if they don’t know your home exists. But more importantly, the more buyers you have

interested in your home, the higher the potential sale price, and the faster the sale.

Marketing your home to the biggest audience possible takes more than a sign on the front lawn.

The best and fastest home sales use a combination of many of the following:

Maximize Exposure

to Buyers

STEP

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MLS Listing

The largest online database

of available real estate.

Video Tour

A behind-the-scenes, online

look at your home and

neighbourhood.

360 Degree Virtual Tour

Allow prospective buyers to

virtually step into your home

and get a feel for the space.

Property Website

Your home’s very own

website with all the info a

buyer needs. Online

Exposure on nationally

ranked real estate websites

such as royallepage.ca.

Proactive Prospecting

Reaching out directly to

people who might be

interested.

Facebook Ads

Targeted Facebook ads to

those most likely to

purchase a home like yours.

Property Brochures

Great photos, vibrant

descriptions in professional

take away form.

Print Marketing

Print ads, just listed cards

and more.

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As interest in your home rises, so will interest in seeing the real thing. It’s time to show off your

masterpiece to prospective buyers. A REALTOR® will take care of almost all of the details, but

here are a few tips to maximize the showing experience.

You should leave.

Buyers want to be able to look around and discuss your home candidly. They won’t be

comfortable if you’re there.

Is it inviting?

In addition to the usual tidying, make sure your home is inviting. Turn up/down the temperature.

Leave the lights on. Open the blinds where appropriate. Leave inside doors open or slightly ajar.

Any Information is good information.

Set up additional information that’s helpful—property brochures, floor plans and contact

information.

Flexibility is key.

Be as flexible as you can – try to accommodate the buyer’s schedule.

Show it Off!STEP

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Now this is where things get exciting. You’ve got an offer or maybe two or three at once! In most

cases, your home’s list price won’t be the selling price. When it comes to settling on that final

magic number, you’re going be negotiating. That’s something your REALTOR® is an expert at, but

here are some key strategies for owners:

It’s a conversation. Don’t be offended by low offers and

conditions. No one is forcing you to accept them. Think of it as

a starting point to have a conversation.

Price isn’t the only thing. You can negotiate on price, offer

conditions, assets in the home. Don’t get stuck on one thing.

Remember, even 1% more for your home can mean thousands

to your bottom line.

And once you agree, the buyer provides a deposit cheque to

be held in trust until the conditions are met. The conditions

usually have a set time for removal and usually include things like an inspection and financing.

Once the conditions are met, the buyer signs a waiver and the deal is firm. If you’ve completed all

these steps, then you are a successful home seller.

Congratulations!

Negotiate

Like a Master

STEP

06

Momentum

matters. Just the

act of moving a

deal forward helps

make the deal

happen.

6



The cheque is in! Now how much do you get to keep?

There are a number of closing costs to consider.

Legal Fees. Lawyer’s fees vary, but often have structured fees for the purchase and sale of

homes posted on their websites. Sellers pay in the area of $1000.00 for a lawyer to look after the

legal details necessary to close their home.

Mortgage Fees. Check with your mortgage lender to determine if any costs will occur when

transferring or releasing your mortgage. There is sometimes what is referred to as a discharge fee

to remove the mortgage from title that can range from $100 to $250.

Disbursements. These fees cover additional legal expenses such as travel, copies, couriers,

registration fees and preparing document transfers. Disbursements can range upwards of $500,

but can sometimes be built into your legal fees.

Adjustments. It’s difficult for a home seller to calculate exactly how much money is owed to

which utilities on closing day. Your lawyer will ensure that any overpayments or deficiencies on

rents, mortgage interest, property tax and utility charges will be corrected, and the buyer and

seller will be credited or charged accordingly.

Moving Costs. Moving costs vary based on location and the amount of possessions being

moved. If you’re moving yourself, you should factor gas, rental vehicles and moving supplies.

To estimate your net proceeds, see the worksheet at the end.

Calculating Your

Net Proceeds

STEP

07

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Feeling more informed? I hope so! There’s a lot to selling a home. If, after reading this, you feel

like you want some help, I’d be happy to speak with you. I’ll provide you with a complimentary

market evaluation of your home and answer any other questions you have.

I’ve added some worksheets and other reference material after this page. I think you’ll find it

helpful for becoming even more informed and getting organized to get the most for your home!

Sincerely,

Chris Cucoch

Royal LePage Signature Realty

201-30 Eglinton Ave. W., Mississauga, ON

Tel 647-268-9274

[email protected]

www.chriscucoch.com

Book a MeetingSTEP

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/ChrisCucochRE

Chriscucoch

/chriscucoch

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Chris CucochSales Representative | Royal LePage Signature Realty

Chris has always loved it when a deal comes together. With over 12 years of sales experience he

still finds there is nothing quite like seeing the smile on a client’s face after helping them buy their

dream home. He has developed a complete system to generate the best possible results for his

clients

Chris is best known by his clients as a skilled negotiator who always puts their needs before all

else. He prides himself on educating his clients about the real estate market, helping his clients

realize the best possible price for their sale or purchase of a home in the least amount of time. To

this end he has created a YouTube channel and podcast in order to provide real estate and

community based information to everybody, absolutely free of charge.

Chris has resided in Mississauga for almost 10 years and is actively involved in their community.

He is a member of the Mississauga Board of Trade and participates in other committees from time

to time as the need arises.

Chris Cucoch Realty

Meet the Team!



Taufeeq RahimMortgage Advisor

I am driven to help clients make better choices about the

most expensive personal loan (their mortgage) they will

ever have. I enjoy educating people on finding ways to

help payoff their mortgage sooner, and thereby savings

thousands of dollars they would otherwise lose to

interest.

I prefer building long-term relationship with my clients, so

that they can really benefit from my services.

“Providing mortgage solutions that best fit your

lifestyle and goals!”

Gareth CahillMortgage Advisor

Gareth has been advising on Mortgages for over 18

years, saving his clients’ money & time. Having closed

over 1,200 mortgage transactions throughout his career,

Gareth has the experience and knowledge to give you all

the advice and education you need. I strongly

recommend a 15 minute call with Gareth and review all

your mortgage options, rates and the contract itself. Lean

on his experience, it could be the most valuable 15

minutes you ever spend.

“We make it happen, you make it home”

Jeffrey McInnesHome Inspector

Whether you are a home buyer, seller, or investor you

are in good hands. We offer a wide array of packages to

suit your needs and provide additional services including

Infrared scanning, air quality testing, septic inspections

and many more

“Being a family man myself, I understand the true

importance of having a safe home.”




Crys MastersonReal Estate Lawyer

Crys Masterson is a lawyer with Masterson Law - the

least "lawyer-y" lawyer you'll ever encounter. Equipped

with her yoga pants, home office, and clients-can-have-

my-cell-phone-number business model, Crys wins clients

over with her personable approach to law. She practices

real estate law, wills & estates law, and collaborative

family law.

.

Nathaniel BrettleReal Estate Lawyer

Nathaniel Brettle is a partner at Malo, Pilley, Lehman, a

West Toronto law office with over 65 years of service in

the area. Nathaniel practices residential and commercial

real estate law, as well as corporate, wills and estates.

He especially enjoys assisting clients with purchasing

and selling small businesses. Located at 1678 Bloor

West, his office is conveniently located by Keele subway

station and Parkside Drive.

Elise HarrisonStaging Consultant

My expertise is to recognize the highlights of your

property & emphasize it’s desired features at the lowest

cost possible. One does not need to spend thousands of

dollars to accomplish this.

What sets me apart from other stagers is my ‘Active

Staging’ technique - when I arrive at your house I will try

to leave each room staged. This way, you are not over-

whelmed with a long list that you must complete. You will

find this to be a great experience because you will

actually get to see the results of each room as we go

through your home.



A Few Words

From our Sellers

Sold in 7 Days for 100% of List Price!

“Our house sat on the market for 3 months without an

offer. A friend had suggested that we enlist Chris’ help

on selling our house. After relisting with Chris, we sold

our home in 7 days for 99% of list price, more than I ever

expected! It was unbelievable how fast he helped us sell

our house and we’re so grateful.”

Yen Tang and Andre Stolowski

A stress-free real estate experience!

“With 3 kids, a dog, a cat and hamsters, I thought no way would this

be easy. I couldn't have been more wrong. The entire process was

seamless.”

Matt and Dorthy Kowalski.

Chris kept me informed every step of the way!

“I want to thank the entire team for helping us through such a stressful

time. Chris was a mind reader, always keeping us informed before we

even had a chance to ask!”

Errol Ramani and Hanife Oruglica.

Sold in 3 weeks for $20,000 more than expected!

“Everyone kept telling us to put our house on the market like it was,

but Chris suggested we speak to his home stager. After finishing

some minor repairs, we listed with Chris $20,000 higher than what a

couple other agents suggested and sold in 3 weeks for list price!”

Ibrahim and Amanda Kladnjak.

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Describe 10 things you love most about your home or neighbourhood.

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Calculating Net Proceeds

Estimated Selling Price $

Less: $

Mortgage Balance: $

Mortgage Penalty: (If Applicable) $

Interest Per Diem: (Interest from last payment to date of closing) $

Property Tax / Utilities Adjustments: $

Real Estate Commission With HST: $

Moving Costs: $

Other: $

Estimated Net Proceeds of Sale $

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MLS (Multiple Listing Service)

MLS is the largest online database of available real estate, and it’s where the majority of people

begin their search. This website is accessible by over 50,000 real estate agents in the GTA, each

with (on average) four clients potentially looking for a place just like yours. MLS listings contain

complete and detailed information about the property and full colour images.

Website Marketing | 123AnyStreet.com

Your property will be featured prominently on its own personal website URL and featured on the

nationally ranked website, royallepage.ca, along with several other prominent real estate sites that

combined garner over 300,000 hits per month. Our online marketing strategy gives your listing the

best possible exposure to the most potential buyers worldwide.

Proactive Prospecting

There are only two ways to find a buyer. You can wait for them to find you, or you can

proactively go out and find them! We do both, and that means far more potential buyers for you

and your home.

Viewing Feedback

You will receive real-time feedback directly to your e-mail inbox from all agents who take their

clients through your property. You can log into the secure system to view past and pending

appointments, as well as read the reviews. We analyze all feedback and continually tweak your

listing for maximum appeal.

Our Proven Multi-Media

Marketing System

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Video Tours

In a sea of competitive listings, video-tours give potential buyers a behind-the-scenes look at your

neighbourhood and home without having to leave their couch. Your custom video tour will be

uploaded to its own website, and to YouTube, where hundreds of potential buyers have viewing

access 24/7. This is an invaluable tool for today’s tech savvy, educated consumer.

Property Brochures

Breathtaking photos and vibrant descriptions make up your customized home brochure, designed

as a memorable take-away for visiting buyers and their agents. These professionally designed

brochures leave a lasting impression and often lead to repeat viewings.

360 Degree Virtual Tours

Our virtual tours allow prospective buyers to step inside and experience your home without having

to actually step foot inside. This helps by weeding out the tire kickers. Anybody who books a

showing after taking the tour will be a serious potential buyer for your home.

Print Marketing

In most cases, we distribute ‘Just Listed’ cards in your area to let your neighbours know that your

property is for sale. It’s just one more way we widen the net to get your property the best possible

exposure. Who knows who might end up buying your home?

Complimentary Home Staging Consultation

Studies suggest staged homes sell faster and attract more money, in a changing marketplace, a

staged home can make the difference between selling your home or not. Staging can be as

simple as removing some clutter or as detailed as redesigning or refurnishing rooms. The choice

is yours and our home-staging professionals will provide you with a complimentary

recommendation list that will create maximum buyer appeal for your home.

Social Media Campaigning

We actively maintain a Facebook page, Twitter, Instagram, YouTube and LinkedIn. Check us out.

Your home will be everywhere!

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In preparation for listing your home, you will need to gather up a few things:

❑ A copy of your survey

❑ Your most recent annual property tax assessment

❑ The average cost of utilities (electricity, hydro, water)

❑ The age of your home

❑ Details of recent improvements or renovations

❑ A list of items you would like to exclude from the sale

❑ Pictures of seasonal features (i.e. gardens in bloom)

❑ A list of any easements or right-of-ways

❑ Receipts and warranties for recent home improvements

❑ “10 Best Features of Your Home” Worksheet

❑ Other relevant information (any upgrades, copy of floor plans, builder plans and/or model

name)

For condominium owners:

❑ Maintenance fees and a list of maintenance/fee inclusions

❑ Parking and locker numbers

❑ Pass key to the building

❑ Status Certificate (if available)

❑ A list of by-laws and restrictions

Checklist:

Preparing to List Your Home

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*These forms and explanations are included for information purposes only and are not intended to

be take as legal advice.

APENDIXSample Forms

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Form 200 Revised 2019 Page 2 of 5

The trademarks REALTOR®, REALTORS®, MLS®, Multiple Listing Services® and associated logos are owned or controlled byThe Canadian Real Estate Association (CREA) and identify the real estate professionals who are members of CREA and thequality of services they provide. Used under license.

© 2019, Ontario Real Estate Association (“OREA”). All rights reserved. This form was developed by OREA for the use and reproduction by its members and licensees only. Any other use or reproduction is prohibited except with prior written consent of OREA. Do not alter when printing or reproducing the standard pre-set portion. OREA bears no liability for your use of this form.

Listing Agreement Seller Representation Agreement Authority to Offer for Sale

Form 200for use in the Province of Ontario

GENERAL USE: This Form is a contract between a Seller and a real estate company that gives the real estate company permission to act on the Seller’s behalf when they offer their home for sale in the open market. A written agreement is necessary in order to secure commission and to ensure compliance with the REBBA Code of Ethics.

This section of the Agreement identifies the parties involved and specifies the time period for the contract. If the time period is greater than six months then the Real Estate and Business Brokers Act and the Real Estate Council of Ontario require that the Seller(s) initial in the oval beside the bracket. There is also a statement in the form of a representation or warranty stating that the Sellers are party to another contract whether a Listing or an agreement to pay commission.

This is a Multiple Listing Service® Agreement OR Exclusive Listing Agreement (Seller’s Initials) (Seller’s Initials)BETWEEN:

BROKERAGE: ................................................................................................................................................................................................

..................................................................................................................(the “Listing Brokerage”) Tel.No. ........................................................

SELLER: ........................................................................................................................................................................................(the “Seller”)

In consideration of the Listing Brokerage listing the real property for sale known as....................................................................................................

..................................................................................................................................................................................................(the “Property”)

the Seller hereby gives the Listing Brokerage the exclusive and irrevocable right to act as the Seller’s agent, commencing at 12:01 a.m. on the .............. day

of .............................................., 20..........., until 11:59 p.m. on the ............ day of .............................................., 20.......... (the “Listing Period”),

Seller acknowledges that the length of the Listing Period is negotiable between the Seller and the Listing Brokerage and, if an MLS® listing, may be subject to minimum requirements of the real estate board, however, in accordance with the Real Estate and Business Brokers Act, 2002, (REBBA) if the Listing Period exceeds six months, the Listing Brokerage must obtain the Seller’s initials.

to offer the Property for sale at a price of: Dollars (CDN$) ..........................................

.............................................................................................................................................................................................................Dollars and upon the terms particularly set out herein, or at such other price and/or terms acceptable to the Seller. It is understood that the price and/or terms set out herein are at the Seller’s personal request, after full discussion with the Listing Brokerage’s representative regarding potential market value of the Property.

The Seller hereby represents and warrants that the Seller is not a party to any other listing agreement for the Property or agreement to pay commission to any other real estate brokerage for the sale of the Property.

1. DEFINITIONS AND INTERPRETATIONS: This paragraph clarifies the terms used in the Agreement and defines Buyer and Seller as they are referred to in the document.

1. DEFINITIONS AND INTERPRETATIONS: For the purposes of this Agreement (“Authority” or “Agreement”): “Seller” includes vendor, a “buyer” includes a purchaser, or a prospective purchaser. A “real estate board” includes a real estate association.

A purchase shall be deemed to include the entering into of any agreement to exchange, or the obtaining of an option to purchase which is subsequently exercised. Commission shall be deemed to include other remuneration. This Agreement shall be read with all changes of gender or number required by the context. For purposes of this Agreement, anyone introduced to or shown the Property shall be deemed to include any spouse, heirs, executors, administrators, successors, assigns, related corporations and affiliated corporations. Related corporations or affiliated corporations shall include any corporation where one half or a majority of the shareholders, directors or officers of the related or affiliated corporation are the same person(s) as the shareholders, directors, or officers of the corporation introduced to or shown the Property.

2. COMMISSION: An important section of the Agreement as it sets out fee that will be paid to real estate company. It also authorizes the real estate company to cooperate with any other real estate companies in order to sell the property. This section details how the commission paid to the Listing real estate company will be shared with the cooperating real estate company. In addition there is a period after the expiry of the Agreement where the real estate company would be entitled to commission if the Buyer was introduced to or shown the property during the contract period. This is the “holdover period”.

2. COMMISSION: In consideration of the Listing Brokerage listing the Property, the Seller agrees to pay the Listing Brokerage a commission of

...............% of the sale price of the Property or ........................................................................................................................................ for any valid offer to purchase the Property from any source whatsoever obtained during the Listing Period and on the terms and conditions set out in this Agreement OR such other terms and conditions as the Seller may accept. The Seller authorizes the Listing Brokerage to co-operate with any

other registered real estate brokerage (co-operating brokerage) and to offer to pay the co-operating brokerage a commission of................% of the sale

price of the Property or................................................................................................ out of the commission the Seller pays the Listing Brokerage.

INITIALS OF LISTING BROKERAGE: INITIALS OF SELLER(S):

EXCLUSIVE®

(Seller’s Initials)

{{

(Seller’s Initials)

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The Seller further agrees to pay such commission as calculated above if an agreement to purchase is agreed to or accepted by the Seller or anyone

on the Seller’s behalf within ............................. days after the expiration of the Listing Period (Holdover Period), so long as such agreement is with anyone who was introduced to the Property from any source whatsoever during the Listing Period or shown the Property during the Listing Period.

If, however, the offer for the purchase of the Property is pursuant to a new agreement in writing to pay commission to another registered real estate brokerage, the Seller’s liability for commission shall be reduced by the amount paid by the Seller under the new agreement.

The Seller further agrees to pay such commission as calculated above even if the transaction contemplated by an agreement to purchase agreed to or accepted by the Seller or anyone on the Seller’s behalf is not completed, if such non-completion is owing or attributable to the Seller’s default or neglect, said commission to be payable on the date set for completion of the purchase of the Property.

Any deposit in respect of any agreement where the transaction has been completed shall first be applied to reduce the commission payable. Should such amounts paid to the Listing Brokerage from the deposit or by the Seller’s solicitor not be sufficient, the Seller shall be liable to pay to the Listing Brokerage on demand, any deficiency in commission and taxes owing on such commission.

All amounts set out as commission are to be paid plus applicable taxes on such commission.

3. REPRESENTATION: This paragraph confirms that the real estate company and the salesperson have explained the different types of agency relationships that may occur in a real estate transaction.

3. REPRESENTATION: The Seller acknowledges that the Listing Brokerage has provided the Seller with information explaining agency relationships, including information on Seller Representation, Sub-agency, Buyer Representation, Multiple Representation and Customer Service.

The Seller understands that unless the Seller is otherwise informed, the co-operating brokerage is representing the interests of the buyer in the transaction. The Seller further acknowledges that the Listing Brokerage may be listing other properties that may be similar to the Seller’s Property and the Seller hereby consents to the Listing Brokerage listing other properties that may be similar to the Seller’s Property without any claim by the Seller of conflict of interest. The Seller hereby appoints the Listing Brokerage as the Seller’s agent for the purpose of giving and receiving notices pursuant to any offer or agreement to purchase the Property. Unless otherwise agreed in writing between Seller and Listing Brokerage, any commission payable to any other brokerage shall be paid out of the commission the Seller pays the Listing Brokerage, said commission to be disbursed in accordance with the Commission Trust Agreement.

MULTIPLE REPRESENTATION: The Seller hereby acknowledges that the Listing Brokerage may be entering into buyer representation agreements with buyers who may be interested in purchasing the Seller’s Property. In the event that the Listing Brokerage has entered into or enters into a buyer representation agreement with a prospective buyer for the Seller’s Property, the Listing Brokerage will obtain the Seller’s written consent to represent both the Seller and the buyer for the transaction at the earliest practicable opportunity and in all cases prior to any offer to purchase being submitted or presented.

The Seller understands and acknowledges that the Listing Brokerage must be impartial when representing both the Seller and the buyer and equally protect the interests of the Seller and buyer. The Seller understands and acknowledges that when representing both the Seller and the buyer, the Listing Brokerage shall have a duty of full disclosure to both the Seller and the buyer, including a requirement to disclose all factual information about the Property known to the Listing Brokerage.

However, the Seller further understands and acknowledges that the Listing Brokerage shall not disclose:• that the Seller may or will accept less than the listed price, unless otherwise instructed in writing by the Seller;• that the buyer may or will pay more than the offered price, unless otherwise instructed in writing by the buyer;• the motivation of or personal information about the Seller or buyer, unless otherwise instructed in writing by the party to which the information applies or unless failure to disclose would constitute fraudulent, unlawful or unethical practice;• the price the buyer should offer or the price the Seller should accept; and• the Listing Brokerage shall not disclose to the buyer the terms of any other offer.

However, it is understood that factual market information about comparable properties and information known to the Listing Brokerage concerning potential uses for the Property will be disclosed to both Seller and buyer to assist them to come to their own conclusions.

Where a Brokerage represents both the Seller and the Buyer (multiple representation), the Brokerage shall not be entitled or authorized to be agent for either the Buyer or the Seller for the purpose of giving and receiving notices.

MULTIPLE REPRESENTATION AND CUSTOMER SERVICE: The Seller understands and agrees that the Listing Brokerage also provides representation and customer service to other sellers and buyers. If the Listing Brokerage represents or provides customer service to more than one seller or buyer for the same trade, the Listing Brokerage shall, in writing, at the earliest practicable opportunity and before any offer is made, inform all sellers and buyers of the nature of the Listing Brokerage’s relationship to each seller and buyer.

4. FINDERS FEES: In order for a Salesperson to receive any finder’s fee it is necessary to receive consent. This section provides that consent. This may occur where a mortgage company sends a referral fee.

4. FINDERS FEES: The Seller acknowledges that the Brokerage may be receiving a finder’s fee, reward and/or referral incentive, and the Seller consents to any such benefit being received and retained by the Brokerage in addition to the Commission as described above.

5. REFERRAL OF ENQUIRIES: This section requires that the Seller is to advise the real estate company of any enquiries made with respect to the property. If the enquiry results in an accepted offer to purchase during the listing period or after, during the holdover period, the Seller will be liable to pay commission.

5. REFERRAL OF ENQUIRIES: The Seller agrees that during the Listing Period, the Seller shall advise the Listing Brokerage immediately of all enquiries from any source whatsoever, and all offers to purchase submitted to the Seller shall be immediately submitted to the Listing Brokerage before the Seller accepts or rejects the same. If any enquiry during the Listing Period results in the Seller accepting a valid offer to purchase during the Listing Period or within the Holdover Period after the expiration of the Listing Period, the Seller agrees to pay the Listing Brokerage the amount of Commission set out above, payable within five (5) days following the Listing Brokerage’s written demand therefor.


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6. MARKETING: The real estate brokerage is authorized to market the property. To do this there is permission to place a “For Sale” and “Sold” sign on the property.

6. MARKETING: The Seller agrees to allow the Listing Brokerage to show and permit prospective buyers to fully inspect the Property during reasonable hours and the Seller gives the Listing Brokerage the sole and exclusive right to place “For Sale” and “Sold” sign(s) upon the Property. The Seller consents to the Listing Brokerage including information in advertising that may identify the Property. The Seller further agrees that the Listing Brokerage shall have sole and exclusive authority to make all advertising decisions relating to the marketing of the Property for sale during the Listing Period. The Seller agrees that the Listing Brokerage will not be held liable in any manner whatsoever for any acts or omissions with respect to advertising by the Listing Brokerage or any other party, other than by the Listing Brokerage’s gross negligence or wilful act.

7. WARRANTY: This warranty confirms that the Seller has all the authority necessary in order to sign the Listing. It also confirms that the Seller has disclosed outside interests such as first rights of refusal, easements, mortgages and so forth.

7. WARRANTY: The Seller represents and warrants that the Seller has the exclusive authority and power to execute this Authority to offer the Property for sale and that the Seller has informed the Listing Brokerage of any third party interests or claims on the Property such as rights of first refusal, options, easements, mortgages, encumbrances or otherwise concerning the Property, which may affect the sale of the Property.

8. INDEMNIFICATION AND INSURANCE: The Seller will not hold the Listing Brokerage liable for loss or damage to the property or contents unless it was caused by the Listing Brokerage’s gross negligence or a willful act. Further the Seller confirms that the Seller has insurance to cover any injury or property damage that may occur.

8. INDEMNIFICATION AND INSURANCE: The Seller will not hold the Listing Brokerage and representatives of the Brokerage responsible for any loss or damage to the Property or contents occurring during the term of this Agreement caused by the Listing Brokerage or anyone else by any means, including theft, fire or vandalism, other than by the Listing Brokerage’s gross negligence or wilful act. The Seller agrees to indemnify and save harmless the Listing Brokerage and representatives of the Brokerage and any co-operating brokerage from any liability, claim, loss, cost, damage or injury, including but not limited to loss of the Commission payable under this Agreement, caused or contributed to by the breach of any warranty or representation made by the Seller in this Agreement or the accompanying data form. The Seller warrants the Property is insured, including personal liability insurance against any claims or lawsuits resulting from bodily injury or property damage to others caused in any way on or at the Property and the Seller indemnifies the Brokerage and all of its employees, representatives, salespersons and brokers (Listing Brokerage) and any co-operating brokerage and all of its employees, representatives, salespersons and brokers (co-operating brokerage) for and against any claims against the Listing Brokerage or co-operating brokerage made by anyone who attends or visits the Property.

9. THE FAMILY LAW ACT: The Seller is warranting that if spousal consent is necessary then the spouse has signed this agreement.9. FAMILY LAW ACT: The Seller hereby warrants that spousal consent is not necessary under the provisions of the Family Law Act, R.S.O. 1990, unless

the spouse of the Seller has executed the consent hereinafter provided.

10. VERIFICATION OF INFORMATION: This section authorizes the Salesperson to obtain information from governments, mortgagees and others in order to help with the sale of the property.

10. VERIFICATION OF INFORMATION: The Seller authorizes the Listing Brokerage to obtain any information affecting the Property from any regulatory authorities, governments, mortgagees or others and the Seller agrees to execute and deliver such further authorizations in this regard as may be reasonably required. The Seller hereby appoints the Listing Brokerage or the Listing Brokerage’s authorized representative as the Seller’s attorney to execute such documentation as may be necessary to effect obtaining any information as aforesaid. The Seller hereby authorizes, instructs and directs the above noted regulatory authorities, governments, mortgagees or others to release any and all information to the Listing Brokerage.

11. USE AND DISTRIBUTION OF INFORMATION: This provision is necessary in order to facilitate the sale of the property. In order to ensure compliance with privacy laws the Seller consents to use and disclosure of personal information in order to market the property. This will include the use of photographs, surveys and so on.

11. USE AND DISTRIBUTION OF INFORMATION: The Seller consents to the collection, use and disclosure of personal information by the Brokerage for the purpose of listing and marketing the Property including, but not limited to: listing and advertising the Property using any medium including the Internet; disclosing Property information to prospective buyers, brokerages, salespersons and others who may assist in the sale of the Property; such other use of the Seller’s personal information as is consistent with listing and marketing of the Property. The Seller consents, if this is an MLS® Listing, to placement of the listing information and sales information by the Brokerage into the database(s) of the MLS® System of the appropriate Board, and to the posting of any documents and other information (including, without limitation, photographs, images, graphics, audio and video recordings, virtual tours, drawings, floor plans, architectural designs, artistic renderings, surveys and listing descriptions) provided by or on behalf of the Seller into the database(s) of the MLS® System of the appropriate Board. The Seller hereby indemnifies and saves harmless the Brokerage and/or any of its employees, servants, brokers or sales representatives from any and all claims, liabilities, suits, actions, losses, costs and legal fees caused by, or arising out of, or resulting from the posting of any documents or other information (including, without limitation, photographs, images, graphics, audio and video recordings, virtual tours, drawings, floor plans, architectural designs, artistic renderings, surveys and listing descriptions) as aforesaid. The Seller acknowledges that the database, within the board’s MLS® System is the property of the real estate board(s) and can be licensed, resold, or otherwise dealt with by the board(s). The Seller further acknowledges that the real estate board(s) may: during the term of the listing and thereafter, distribute the information in the database, within the board’s MLS® System to any persons authorized to use such service which may include other brokerages, government departments, appraisers, municipal organizations and others; market the Property, at its option, in any medium, including electronic media; during the term of the listing and thereafter, compile, retain and publish any statistics including historical data within the board’s MLS® System and retain, reproduce and display photographs, images, graphics, audio and video recordings, virtual tours, drawings, floor plans, architectural designs, artistic renderings, surveys and listing descriptions which may be used by board members to conduct comparative analyses; and make such other use of the information as the Brokerage and/or real estate board(s) deem appropriate, in connection with the listing, marketing and selling of real estate during the term of the listing and thereafter. The Seller acknowledges that the information, personal or otherwise (“information”), provided to the real estate board or association may be stored on databases located outside of Canada, in which case the information would be subject to the laws of the jurisdiction in which the information is located.


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Once a Listing has expired the Seller can choose to be contacted or not to be contacted by other real estate salespersons.

In the event that this Agreement expires or is cancelled or otherwise terminated and the Property is not sold, the Seller, by initialling:

Does Does Notconsent to allow other real estate board members to contact the Seller after expiration or other termination of this Agreement to discuss listing or otherwise marketing the Property.

12. SUCCESSORS AND ASSIGNS: This states that heirs, estate trustees or any other party legally acting on behalf of the Seller must also abide by the terms of this Agreement.

12. SUCCESSORS AND ASSIGNS: The heirs, executors, administrators, successors and assigns of the undersigned are bound by the terms of this Agreement.

13. CONFLICT OR DISCREPANCY: In the event something is added to the agreement, for example by way of schedule and the added part is in conflict or there is a discrepancy with a pre-printed clause, then the added part overrides the pre-printed provision.

13. CONFLICT OR DISCREPANCY: If there is any conflict or discrepancy between any provision added to this Agreement (including any Schedule attached hereto) and any provision in the standard pre-set portion hereof, the added provision shall supersede the standard pre-set provision to the extent of such conflict or discrepancy. This Agreement, including any Schedule attached hereto, shall constitute the entire Agreement between the Seller and the Listing Brokerage. There is no representation, warranty, collateral agreement or condition which affects this Agreement other than as expressed herein.

14. ELECTRONIC COMMUNICATION: This confirms that communications may occur electronically and will still be binding.14. ELECTRONIC COMMUNICATION: This Agreement and any agreements, notices or other communications contemplated thereby may be transmitted

by means of electronic systems, in which case signatures shall be deemed to be original. The transmission of this Agreement by the Seller by electronic means shall be deemed to confirm the Seller has retained a true copy of the Agreement.

15. ELECTRONIC SIGNATURES: This clause provides consent if the parties use electronic signatures with respect to this Agreement.15. ELECTRONIC SIGNATURES: If this Agreement has been signed with an electronic signature the parties hereto consent and agree to the use of such

electronic signature with respect to this Agreement pursuant to the Electronic Commerce Act 2000, S.O. 2000, c17 as amended from time to time.

16. SCHEDULE(S): If something has been added such as a form, it should be noted here.

16. SCHEDULE(S): ....................................................................................... and data form attached hereto form(s) part of this Agreement.

This section provides that the listing company will market the property in order to obtain an offer acceptable to the Seller. The salesperson will sign the Listing on behalf of the brokerage.THE LISTING BROKERAGE AGREES TO MARKET THE PROPERTY ON BEHALF OF THE SELLER AND REPRESENT THE SELLER IN AN ENDEAVOUR TO OBTAIN A VALID OFFER TO PURCHASE THE PROPERTY ON THE TERMS SET OUT IN THIS AGREEMENT OR ON SUCH OTHER TERMS SATISFACTORY TO THE SELLER.

............................................................................................. ....................................... .........................................................................(Authorized to bind the Listing Brokerage) (Date) (Name of Person Signing)

THIS AGREEMENT HAS BEEN READ AND FULLY UNDERSTOOD BY ME AND I ACKNOWLEDGE THIS DATE I HAVE SIGNED UNDER SEAL. Any representations contained herein or as shown on the accompanying data form respecting the Property are true to the best of my knowledge, information and belief.

SIGNED, SEALED AND DELIVERED I have hereunto set my hand and seal:

............................................................................................. .............................................. ...........................................................(Signature of Seller) (Seal) (Date) (Tel. No.)

............................................................................................. .............................................. ...........................................................(Signature of Seller) (Seal) (Date) (Tel. No.)

SPOUSAL CONSENT: The undersigned spouse of the Seller hereby consents to the listing of the Property herein pursuant to the provisions of the Family Law Act, R.S.O. 1990 and hereby agrees to execute all necessary or incidental documents to further any transaction provided for herein.

............................................................................................. .............................................. ...........................................................(Spouse) (Seal) (Date) (Tel. No.)

DECLARATION OF INSURANCE

The Salesperson/Broker/Broker of Record ..................................................................................................................................................... (Name of Salesperson/Broker/Broker of Record) hereby declares that he/she is insured as required by REBBA.

.................................................................................................................................................................... (Signature(s) of Salesperson/Broker/Broker of Record)

ACKNOWLEDGEMENTThe Seller(s) hereby acknowledge that the Seller(s) fully understand the terms of this Agreement and have received a copy of this Agreement

on the ……......................... day of …………….....................................................…......................…………, 20 ….................................................……

.......................................................................................................................................................... ..........................................................(Signature of Seller) (Date)

.......................................................................................................................................................... ..........................................................(Signature of Seller) (Date)

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Agreement of Purchase and SaleForm 100for use in the Province of Ontario

GENERAL USE: The Agreement of Purchase and Sale is the document used to state the Buyer’s desire to purchase the property, and to negotiate the terms of the sale. It is often referred to as an “Offer”. This document also allows the Buyer an opportunity to set out in detail all of the terms and conditions they wish to be part of their Offer when buying the Seller’s property. Common examples of a Buyer’s conditions include arranging financing (a mortgage) for the property to be purchased, completing a home inspection, arranging for fire insurance or ensuring they can sell their current home before purchasing. After the Offer is prepared and signed by the Buyer, it is presented to the Seller for consideration and possible acceptance. The Seller, in turn, may want to make changes to the Offer for the Buyer’s consideration. This process can continue back and forth several times in an effort to reach an agreement.

This line below states the date that the document is created. This date is used to identify or reference this Offer.

This Agreement of Purchase and Sale dated this ....................... day of .................................................................................................... 20............

BUYER : ......................................................................................................................................................................, agrees to purchase from (Full legal names of all Buyers)

SELLER : ....................................................................................................................................................................................., the following (Full legal names of all Sellers)

REAL PROPERTY:

Address ...........................................................................................................................................................................................................

fronting on the ................................................................................... side of ....................................................................................................

in the ...............................................................................................................................................................................................................

and having a frontage of ............................................................... more or less by a depth of ............................................................ more or less

and legally described as ....................................................................................................................................................................................

................................................................................................................................................................................................. (the “property”) (Legal description of land including easements not described elsewhere)

PURCHASE PRICE: Dollars (CDN$) ..........................................

............................................................................................................................................................................................................. Dollars

DEPOSIT: A Buyer typically submits a deposit on the purchase of the property. It demonstrates the Buyer’s sincerity and good faith in the purchase transaction. When a deposit is to be delivered can vary at the discretion of the Buyer to be accepted or negotiated by the Seller.

DEPOSIT: Buyer submits ................................................................................................................................................................................... (Herewith/Upon Acceptance/as otherwise described in this Agreement)

..................................................................................................................................................... Dollars (CDN$) ..........................................

by negotiable cheque payable to ............................................................................................................................ “Deposit Holder” to be held in trust pending completion or other termination of this Agreement and to be credited toward the Purchase Price on completion. For the purposes of this Agreement, “Upon Acceptance” shall mean that the Buyer is required to deliver the deposit to the Deposit Holder within 24 hours of the acceptance of this Agreement. The parties to this Agreement hereby acknowledge that, unless otherwise provided for in this Agreement, the Deposit Holder shall place the deposit in trust in the Deposit Holder’s non-interest bearing Real Estate Trust Account and no interest shall be earned, received or paid on the deposit.

Buyer agrees to pay the balance as more particularly set out in Schedule A attached.

SCHEDULE(S) A..............................................................................................................attached hereto form(s) part of this Agreement.

INITIALS OF BUYER(S): INITIALS OF SELLER(S):

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1. IRREVOCABLE: The party submitting the Offer to the other side agrees to allow the other side until this time and date to consider and accept the Offer. The submitting party is not permitted to withdraw their Offer prior to that time. The Seal beside their signature shows that the submitting party has received something of value for this irrevocable Offer.

1. IRREVOCABILITY: This offer shall be irrevocable by ..................................................................... until ............................... on the .............. (Seller/Buyer) (a.m./p.m.)

day of ................................................................... 20 ........., after which time, if not accepted, this offer shall be null and void and the deposit shall be returned to the Buyer in full without interest.

2. COMPLETION DATE: This is the date the transaction is scheduled to be completed. Unless there is a provision elsewhere in the Agreement, the property is to be vacant. This date is not to be on a weekend or a statutory holiday.

2. COMPLETION DATE: This Agreement shall be completed by no later than 6:00 p.m. on the .............. day of ...................................................

20 ............... Upon completion, vacant possession of the property shall be given to the Buyer unless otherwise provided for in this Agreement.

3. NOTICES: Under the Agreement there will be requirements to deliver notices to the other side. This provision highlights various methods that would be available to deliver notices.

3. NOTICES: The Seller hereby appoints the Listing Brokerage as agent for the Seller for the purpose of giving and receiving notices pursuant to this Agreement. Where a Brokerage (Buyer’s Brokerage) has entered into a representation agreement with the Buyer, the Buyer hereby appoints the Buyer’s Brokerage as agent for the purpose of giving and receiving notices pursuant to this Agreement. Where a Brokerage represents both the Seller and the Buyer (multiple representation), the Brokerage shall not be appointed or authorized to be agent for either the Buyer or the Seller for the purpose of giving and receiving notices. Any notice relating hereto or provided for herein shall be in writing. In addition to any provision contained herein and in any Schedule hereto, this offer, any counter-offer, notice of acceptance thereof or any notice to be given or received pursuant to this Agreement or any Schedule hereto (any of them, “Document”) shall be deemed given and received when delivered personally or hand delivered to the Address for Service provided in the Acknowledgement below, or where a facsimile number or email address is provided herein, when transmitted electronically to that facsimile number or email address, respectively, in which case, the signature(s) of the party (parties) shall be deemed to be original.

FAX No.: ...................................................................................... FAX No.: .......................................................................................... (For delivery of Documents to Seller) (For delivery of Documents to Buyer)

Email Address: .............................................................................. Email Address: .................................................................................. (For delivery of Documents to Seller) (For delivery of Documents to Buyer)

4. CHATTELS INCLUDED: In this section of the Agreement, the Buyer would list the items that the Buyer wished to include in the purchase price. Subject to the Seller’s agreement, these might include appliances, and other items that were not attached. To avoid disputes later the items should be described in detail. This might include GE Stove, Kenmore Refrigerator and might involve adding serial numbers. The rule to follow is “when in doubt, spell it out”.

4. CHATTELS INCLUDED:.............................................................................................................................................................................

...............................................................................................................................................................................................................

...............................................................................................................................................................................................................

...............................................................................................................................................................................................................

...............................................................................................................................................................................................................

Unless otherwise stated in this Agreement or any Schedule hereto, Seller agrees to convey all fixtures and chattels included in the Purchase Price free from all liens, encumbrances or claims affecting the said fixtures and chattels.


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5. FIXTURES EXCLUDED: If the Seller wished to remove an item that had been attached to the home, such as a “dining room light fixture” this would have to be detailed here.

5. FIXTURES EXCLUDED:.............................................................................................................................................................................

................................................................................................................................................................................................................

................................................................................................................................................................................................................

................................................................................................................................................................................................................

................................................................................................................................................................................................................

6. RENTAL ITEMS: This has become an important issue in recent times. There are a number of items that potentially are not owned by the Seller but rather leased or rented. The Seller would have to identify these to a Buyer. An important issue these days is the “hot water tank”. These may be rented or more frequently now, on a contract for “lease to own”.

6. RENTAL ITEMS (Including Lease, Lease to Own): The following equipment is rented and not included in the Purchase Price. The Buyer agrees to assume the rental contract(s), if assumable:

................................................................................................................................................................................................................

................................................................................................................................................................................................................

................................................................................................................................................................................................................

The Buyer agrees to co-operate and execute such documentation as may be required to facilitate such assumption.

7. HST: This section indicates how the Harmonized Sales Tax will impact the sale price if at all.

7. HST: If the sale of the property (Real Property as described above) is subject to Harmonized Sales Tax (HST), then such tax shall be

............................................................... the Purchase Price. If the sale of the property is not subject to HST, Seller agrees to certify on or before (included in/in addition to)

closing, that the sale of the property is not subject to HST. Any HST on chattels, if applicable, is not included in the Purchase Price.

8. TITLE SEARCH: There are a number of searches that a lawyer may undertake when working on a real estate purchase. This paragraph sets out the times for those searches to be done. These searches may include the title search or work orders among others.

8. TITLE SEARCH: Buyer shall be allowed until 6:00 p.m. on the .............. day of ......................................................., 20..........., (Requisition Date) to examine the title to the property at Buyer’s own expense and until the earlier of: (i) thirty days from the later of the Requisition Date or the date on which the conditions in this Agreement are fulfilled or otherwise waived or; (ii) five days prior to completion, to satisfy Buyer that there are no outstanding

work orders or deficiency notices affecting the property, and that its present use (....................................................................................) may be lawfully continued and that the principal building may be insured against risk of fire. Seller hereby consents to the municipality or other governmental agencies releasing to Buyer details of all outstanding work orders and deficiency notices affecting the property, and Seller agrees to execute and deliver such further authorizations in this regard as Buyer may reasonably require.

9. FUTURE USE: This sets out the Buyer is entitled to get what the Agreement provides when it comes to the use of the property. If the Buyer intends on turning the property into a commercial use in the future there are no assurances that the Buyer will be able to do so in the future.

9. FUTURE USE: Seller and Buyer agree that there is no representation or warranty of any kind that the future intended use of the property by Buyer is or will be lawful except as may be specifically provided for in this Agreement.


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10. TITLE: This paragraph sets out that the Buyer is entitled to good title subject to a number of items. These items include having the title subject to minor utility easements for gas, water hydro and so on. The Buyer will also have to accept restrictive covenants provided they are complied with.

10. TITLE: Provided that the title to the property is good and free from all registered restrictions, charges, liens, and encumbrances except as otherwise specifically provided in this Agreement and save and except for (a) any registered restrictions or covenants that run with the land providing that such are complied with; (b) any registered municipal agreements and registered agreements with publicly regulated utilities providing such have been complied with, or security has been posted to ensure compliance and completion, as evidenced by a letter from the relevant municipality or regulated utility; (c) any minor easements for the supply of domestic utility or telecommunication services to the property or adjacent properties; and (d) any easements for drainage, storm or sanitary sewers, public utility lines, telecommunication lines, cable television lines or other services which do not materially affect the use of the property. If within the specified times referred to in paragraph 8 any valid objection to title or to any outstanding work order or deficiency notice, or to the fact the said present use may not lawfully be continued, or that the principal building may not be insured against risk of fire is made in writing to Seller and which Seller is unable or unwilling to remove, remedy or satisfy or obtain insurance save and except against risk of fire (Title Insurance) in favour of the Buyer and any mortgagee, (with all related costs at the expense of the Seller), and which Buyer will not waive, this Agreement notwithstanding any intermediate acts or negotiations in respect of such objections, shall be at an end and all monies paid shall be returned without interest or deduction and Seller, Listing Brokerage and Co-operating Brokerage shall not be liable for any costs or damages. Save as to any valid objection so made by such day and except for any objection going to the root of the title, Buyer shall be conclusively deemed to have accepted Seller’s title to the property.

11. CLOSING ARRANGMENTS: Most transactions in Ontario are completed electronically. The following paragraph sets out how this is to be accomplished.

11. CLOSING ARRANGEMENTS: Where each of the Seller and Buyer retain a lawyer to complete the Agreement of Purchase and Sale of the property, and where the transaction will be completed by electronic registration pursuant to Part III of the Land Registration Reform Act, R.S.O. 1990, Chapter L4 and the Electronic Registration Act, S.O. 1991, Chapter 44, and any amendments thereto, the Seller and Buyer acknowledge and agree that the exchange of closing funds, non-registrable documents and other items (the “Requisite Deliveries”) and the release thereof to the Seller and Buyer will (a) not occur at the same time as the registration of the transfer/deed (and any other documents intended to be registered in connection with the completion of this transaction) and (b) be subject to conditions whereby the lawyer(s) receiving any of the Requisite Deliveries will be required to hold same in trust and not release same except in accordance with the terms of a document registration agreement between the said lawyers. The Seller and Buyer irrevocably instruct the said lawyers to be bound by the document registration agreement which is recommended from time to time by the Law Society of Ontario. Unless otherwise agreed to by the lawyers, such exchange of Requisite Deliveries shall occur by the delivery of the Requisite Deliveries of each party to the office of the lawyer for the other party or such other location agreeable to both lawyers.

12. DOCUMENTS AND DISCHARGE: The Seller is to deliver to the Buyer documents in the Seller’s possession respecting the property. These would include copies of surveys and deeds. In the event that there is a mortgage on the title and it is with a chartered bank, trust company, insurance company, credit union or Caisse Populaire, it will most likely not be discharged on or before closing. This paragraph details how this discharge will come about. All other mortgages will have to be discharged by closing.

12. DOCUMENTS AND DISCHARGE: Buyer shall not call for the production of any title deed, abstract, survey or other evidence of title to the property except such as are in the possession or control of Seller. If requested by Buyer, Seller will deliver any sketch or survey of the property within Seller’s control to Buyer as soon as possible and prior to the Requisition Date. If a discharge of any Charge/Mortgage held by a corporation incorporated pursuant to the Trust And Loan Companies Act (Canada), Chartered Bank, Trust Company, Credit Union, Caisse Populaire or Insurance Company and which is not to be assumed by Buyer on completion, is not available in registrable form on completion, Buyer agrees to accept Seller’s lawyer’s personal undertaking to obtain, out of the closing funds, a discharge in registrable form and to register same, or cause same to be registered, on title within a reasonable period of time after completion, provided that on or before completion Seller shall provide to Buyer a mortgage statement prepared by the mortgagee setting out the balance required to obtain the discharge, and, where a real-time electronic cleared funds transfer system is not being used, a direction executed by Seller directing payment to the mortgagee of the amount required to obtain the discharge out of the balance due on completion.

13. INSPECTIONS: This provision sets up that the Buyer has had the opportunity to personally inspect the property. Further the Buyer acknowledges the opportunity to have included a condition clause for review of a property inspection report and agrees that if there is not some other provision respecting this type of report then the Buyer is not going to get an inspection report.

13. INSPECTION: Buyer acknowledges having had the opportunity to inspect the property and understands that upon acceptance of this offer there shall be a binding agreement of purchase and sale between Buyer and Seller. The Buyer acknowledges having the opportunity to include a requirement for a property inspection report in this Agreement and agrees that except as may be specifically provided for in this Agreement, the Buyer will not be obtaining a property inspection or property inspection report regarding the property.


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14. INSURANCE: The Seller is responsible for the property until closing. The Seller is to maintain any insurance policies until completion. In the event the property suffers substantial damage prior to closing, the Buyer can cancel the Agreement or can close and get the proceeds of any insurance.

14. INSURANCE: All buildings on the property and all other things being purchased shall be and remain until completion at the risk of Seller. Pending completion, Seller shall hold all insurance policies, if any, and the proceeds thereof in trust for the parties as their interests may appear and in the event of substantial damage, Buyer may either terminate this Agreement and have all monies paid returned without interest or deduction or else take the proceeds of any insurance and complete the purchase. No insurance shall be transferred on completion. If Seller is taking back a Charge/Mortgage, or Buyer is assuming a Charge/Mortgage, Buyer shall supply Seller with reasonable evidence of adequate insurance to protect Seller’s or other mortgagee’s interest on completion.

15. PLANNING ACT: This clause makes the entire agreement subject to compliance with the Planning Act. The Planning Act governs things such as severance.

15. PLANNING ACT: This Agreement shall be effective to create an interest in the property only if Seller complies with the subdivision control provisions of the Planning Act by completion and Seller covenants to proceed diligently at Seller’s expense to obtain any necessary consent by completion.

16. DOCUMENT PREPARATION: The deed is prepared (except for the Land Transfer Tax affidavit) at the expense of the Seller and any mortgage to be given back at the expense of the Buyer.

16. DOCUMENT PREPARATION: The Transfer/Deed shall, save for the Land Transfer Tax Affidavit, be prepared in registrable form at the expense of Seller, and any Charge/Mortgage to be given back by the Buyer to Seller at the expense of the Buyer. If requested by Buyer, Seller covenants that the Transfer/Deed to be delivered on completion shall contain the statements contemplated by Section 50(22) of the Planning Act, R.S.O.1990.

17. RESIDENCY: The Income Tax Act has sections in it to address a non-resident Seller selling property. To ensure the appropriate taxes are paid, this paragraph discusses what the options are in a real estate transaction.

17. RESIDENCY: (a) Subject to (b) below, the Seller represents and warrants that the Seller is not and on completion will not be a non-resident under the non-residency provisions of the Income Tax Act which representation and warranty shall survive and not merge upon the completion of this transaction and the Seller shall deliver to the Buyer a statutory declaration that Seller is not then a non-resident of Canada; (b) provided that if the Seller is a non-resident under the non-residency provisions of the Income Tax Act, the Buyer shall be credited towards the Purchase Price with the amount, if any, necessary for Buyer to pay to the Minister of National Revenue to satisfy Buyer’s liability in respect of tax payable by Seller under the non-residency provisions of the Income Tax Act by reason of this sale. Buyer shall not claim such credit if Seller delivers on completion the prescribed certificate.

18. ADJUSTMENTS: In a real estate transaction there will be adjustments such as prorating the property taxes. This clause lists the usual adjustments and provides that the Buyer will be responsible for the day of closing.

18. ADJUSTMENTS: Any rents, mortgage interest, realty taxes including local improvement rates and unmetered public or private utility charges and unmetered cost of fuel, as applicable, shall be apportioned and allowed to the day of completion, the day of completion itself to be apportioned to Buyer.

19. PROPERTY ASSESSMENT: The property may be evaluated and re-assessed on an annual basis. The Buyer and Seller agree not to hold the real estate sales people responsible when a change takes place.

19. PROPERTY ASSESSMENT: The Buyer and Seller hereby acknowledge that the Province of Ontario has implemented current value assessment and properties may be re-assessed on an annual basis. The Buyer and Seller agree that no claim will be made against the Buyer or Seller, or any Brokerage, Broker or Salesperson, for any changes in property tax as a result of a re-assessment of the property, save and except any property taxes that accrued prior to the completion of this transaction.

20. TIME LIMITS: Dates and times are important and must be adhered to.

20. TIME LIMITS: Time shall in all respects be of the essence hereof provided that the time for doing or completing of any matter provided for herein may be extended or abridged by an agreement in writing signed by Seller and Buyer or by their respective lawyers who may be specifically authorized in that regard.


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21. TENDER: Each side must be able to demonstrate that they are ready, willing and able to complete the transaction. For the Buyer generally, they must be able to produce the money to close and for the Seller it is generally produce the Deed and keys.

21. TENDER: Any tender of documents or money hereunder may be made upon Seller or Buyer or their respective lawyers on the day set for completion. Money shall be tendered with funds drawn on a lawyer’s trust account in the form of a bank draft, certified cheque or wire transfer using the Large Value Transfer System.

22. FAMILY LAW ACT: The Seller is warranting that they have complied with the Family Law Act insofar as it relates to spousal requirements and that no spouse has a claim to the property other than a spouse who has signed a consent in the area set aside for that signature.

22. FAMILY LAW ACT: Seller warrants that spousal consent is not necessary to this transaction under the provisions of the Family Law Act, R.S.O.1990 unless the spouse of the Seller has executed the consent hereinafter provided.

23. UFFI: The Seller is warranting that they did not install any Urea Formaldehyde Foam Insulation and to the best of their knowledge there is none in the buildings.

23. UFFI: Seller represents and warrants to Buyer that during the time Seller has owned the property, Seller has not caused any building on the property to be insulated with insulation containing ureaformaldehyde, and that to the best of Seller’s knowledge no building on the property contains or has ever contained insulation that contains ureaformaldehyde. This warranty shall survive and not merge on the completion of this transaction, and if the building is part of a multiple unit building, this warranty shall only apply to that part of the building which is the subject of this transaction.

24. LEGAL, ACCOUNTING AND ENVIRONMENTAL ADVICE: This clause states that no information the Buyer and Seller have been given by the real estate sales people shall be considered to be Legal, Accounting or Environmental Advice. If these factors impact the transaction or valuation, the Buyers and Sellers should seek independent professional expert advice.

24. LEGAL, ACCOUNTING AND ENVIRONMENTAL ADVICE: The parties acknowledge that any information provided by the brokerage is not legal, tax or environmental advice.

25. CONSUMER REPORTS: The following paragraph notifies the Buyer that a personal or credit check may be obtained and referred to.

25. CONSUMER REPORTS: The Buyer is hereby notified that a consumer report containing credit and/or personal information may be referred to in connection with this transaction.

26. AGREEMENT IN WRITING: If there is a conflict or discrepancy between any of the pre-set (preprinted) clauses and anything that has been added to the Agreement, then added parts supersedes the pre-set clauses. Further there are no other agreements between the Buyer and Seller other than those contained in this Agreement.

26. AGREEMENT IN WRITING: If there is conflict or discrepancy between any provision added to this Agreement (including any Schedule attached hereto) and any provision in the standard pre-set portion hereof, the added provision shall supersede the standard pre-set provision to the extent of such conflict or discrepancy. This Agreement including any Schedule attached hereto, shall constitute the entire Agreement between Buyer and Seller. There is no representation, warranty, collateral agreement or condition, which affects this Agreement other than as expressed herein. For the purposes of this Agreement, Seller means vendor and Buyer means purchaser. This Agreement shall be read with all changes of gender or number required by the context.

27. TIME AND DATE: Times and Dates within this Agreement are determined by the location of the property.

27. TIME AND DATE: Any reference to a time and date in this Agreement shall mean the time and date where the property is located.


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28. SUCCESSORS AND ASSIGNS: In the event one of the parties dies before closing their heirs and executors are bound by the Agreement. 28. SUCCESSORS AND ASSIGNS: The heirs, executors, administrators, successors and assigns of the undersigned are bound by the terms herein.

SIGNED, SEALED AND DELIVERED in the presence of: IN WITNESS whereof I have hereunto set my hand and seal:

............................................................................... ........................................................................ ........................................(Witness) (Buyer) (Seal) (Date)

............................................................................... ........................................................................ ........................................(Witness) (Buyer) (Seal) (Date)

I, the Undersigned Seller, agree to the above offer. I hereby irrevocably instruct my lawyer to pay directly to the brokerage(s) with whom I have agreed to pay commission, the unpaid balance of the commission together with applicable Harmonized Sales Tax (and any other taxes as may hereafter be applicable), from the proceeds of the sale prior to any payment to the undersigned on completion, as advised by the brokerage(s) to my lawyer.

SIGNED, SEALED AND DELIVERED in the presence of: IN WITNESS whereof I have hereunto set my hand and seal:

............................................................................... ........................................................................ ........................................(Witness) (Seller) (Seal) (Date)

............................................................................... ........................................................................ ........................................(Witness) (Seller) (Seal) (Date)

SPOUSAL CONSENT: The undersigned spouse of the Seller hereby consents to the disposition evidenced herein pursuant to the provisions of the Family Law Act, R.S.O.1990, and hereby agrees to execute all necessary or incidental documents to give full force and effect to the sale evidenced herein.

............................................................................... ........................................................................ ........................................(Witness) (Spouse) (Seal) (Date)

CONFIRMATION OF ACCEPTANCE: Notwithstanding anything contained herein to the contrary, I confirm this Agreement with all changes both typed

and written was finally accepted by all parties at ........................... this ................. day of...................................................................., 20........... (a.m./p.m.)

.................................................................................................. (Signature of Seller or Buyer)

INFORMATION ON BROKERAGE(S)

Listing Brokerage ....................................................................................................................... ........................................................... (Tel.No.)

...............................................................................................................................................................................................................(Salesperson/Broker/Broker of Record Name)

Co-op/Buyer Brokerage ............................................................................................................. ........................................................... (Tel.No.)

...............................................................................................................................................................................................................(Salesperson/Broker/Broker of Record Name)

ACKNOWLEDGEMENTI acknowledge receipt of my signed copy of this accepted Agreement of I acknowledge receipt of my signed copy of this accepted Agreement ofPurchase and Sale and I authorize the Brokerage to forward a copy to my lawyer. Purchase and Sale and I authorize the Brokerage to forward a copy to my lawyer.

.......................................................................... ............................ ........................................................................ ...............................(Seller) (Date) (Buyer) (Date)

.......................................................................... ............................ ........................................................................ ...............................(Seller) (Date) (Buyer) (Date)Address for Service ............................................................................ Address for Service ............................................................................

........................................................ ............................................. ........................................................ ............................................. (Tel. No.) (Tel. No.)Seller’s Lawyer ................................................................................... Buyer’s Lawyer ...................................................................................

Address ............................................................................................ Address .............................................................................................

Email ................................................................................................ Email ................................................................................................

....................................................... .............................................. ....................................................... ........... ...................................(Tel. No.) (Fax. No.) (Tel. No.) (Fax. No.)

FOR OFFICE USE ONLY COMMISSION TRUST AGREEMENT

To: Co-operating Brokerage shown on the foregoing Agreement of Purchase and Sale:In consideration for the Co-operating Brokerage procuring the foregoing Agreement of Purchase and Sale, I hereby declare that all moneys received or receivable by me in connection with the Transaction as contemplated in the MLS® Rules and Regulations of my Real Estate Board shall be receivable and held in trust. This agreement shall constitute a Commission Trust Agreement as defined in the MLS® Rules and shall be subject to and governed by the MLS® Rules pertaining to Commission Trust.

DATED as of the date and time of the acceptance of the foregoing Agreement of Purchase and Sale. Acknowledged by:

....................................................................................................................... .............................................................................................(Authorized to bind the Listing Brokerage) (Authorized to bind the Co-operating Brokerage)


Chris CucochRoyal LePage Signature Realty

201-30 Eglinton Ave. W., Mississauga, ON

Tel 647-268-9274

[email protected]

www.chriscucoch.com

/ChrisCucochRE

chriscucoch

/ChrisCucoch

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