This Residential Real Estate Sale Contract (Cash Sale or Seller Financing) is used for residential real estate transactions where the buyer is paying for the property in cash or the seller is financing the property purchase. This sales contract is used for the sale of free-standing residential homes and creates a binding legal obligation when signed by the parties. This contract contains the customary terms between a buyer and seller and also contains provisions regarding financing contingencies, required surveys and conveyance of title. It is crucial that this type of sales contract be clearly set out in writing. A written Residential Real Estate Sale Contract (Cash Sale or Seller Financing) will prove invaluable in the event of disagreements, misunderstandings or litigation between the buyer and seller.

This Residential Real Estate Sale Contract (Cash Sale or Seller Financing) for Canada contains the following provisions:

• Property To Be Sold: Sets forth the address and a detailed legal description of the property;
• Included/Excluded Items: Detailed list of the property items which are included (such as fixtures, appliances and window hangings) and items which are excluded from the property sale;
• Purchase Price/Payment: Sets out the total purchase price of the property and if financed by seller, the payment terms;
• Credit Check: If seller provides financing, the buyer must agree to a credit check and to provide all necessary financial information;
• Sale Contingencies: If financing is provided by a third party, the buyer agrees to obtain firm commitment for financing within a certain time and if buyer cannot obtain financing, the contract may be canceled;
• Additional Contingencies: Sets forth additional contingencies which must be satisfactorily completed before purchase (i.e., property, architectural and environmental inspections);
• Home Warranty: Sets forth who will purchase a homeowner’s warranty plan and when this warranty will expire;
• Existing Mortgages: The seller shall furnish buyer all information regarding mortgages which now exist on the property;
• Closing and Possession: Sets out the closing date and that buyer will have immediate possession of the property unless agreed otherwise;
• Closing Costs: A detailed list of how closing costs will be paid (by buyer, seller or both parties);
• Disputes: If there are disputes, whether they will be settled by litigation, mediation or arbitration;
• Signatures: The seller(s) and buyer(s) must sign and date this sale contract.

Protect your rights and your property by using this accurate and easy to use form. This lawyer-prepared package includes:

1. Instructions and Checklist
2. General Information
3. Residential Real Estate Sale Contract (Cash Sale or Seller Financing) for Canada

Law Compliance: This form can be used in the following provinces: Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Northwest Territories, Nova Scotia, Nunavut, Ontario, Prince Edward Island, Saskatchewan and Yukon