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In the complex and often fraught process of buying a property, the DuProprio form serves as a crucial navigational tool, guiding both buyers and sellers through the intricacies of the offer to purchase. Central to this document is the identification of the parties involved, laying the groundwork for transparency and accountability. As the contract unfolds, it articulately delineates the nature of the property in question—be it a single-family home, a condominium, or even vacant land—ensuring both parties are clear on what is being transacted. The specification of the purchase price and payment terms further underscores the form’s role in cementing the financial aspects of the deal. Significantly, it doesn’t just stop at the exchange itself but delves into conditions that might impact the sale, from the state of the property as per the seller’s declarations to the buyer’s financing arrangements and inspection rights. Additionally, the document doesn’t shy away from addressing potential complications that might arise, offering solutions and alternatives to preemptively tackle issues related to title defects, regulatory compliance, and even the intervention of spouses under certain marital regimes. By doing so, the DuProprio form acts not just as a contract but as a comprehensive guide for navigating the legal, financial, and emotional terrain of property transactions.

Preview - Duproprio Form

Offer to Purchase – Residential*

(single-family, condo or vacant land)

1. IDENTIFICATION OF THE PARTIES

BUYER 1 :

Name :

Address :

Telephone (res.) :

Telephone (work) :

Email :

BUYER 2 :

Name :

Address :

Telephone (res.) :

Telephone (work) :

Email :

Hereinafter the “Buyer”

SELLER 1 :

Name :

Address :

Telephone (res.) :

Telephone (work) :

Email :

SELLER 2 :

Name :

Address :

Telephone (res.) :

Telephone (work) :

Email :

Hereinafter the “Seller”

2. OBJECT OF THE CONTRACT

The Buyer promises to purchase, at the price and upon the terms set out below, the following property:

DESCRIPTION OF THE PROPERTY:

Address:

(number, street, city, province, postal code)

Cadastral designation (lot number):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Lot measurements :

 

 

 

X

 

 

 

m

ft and/or having an approximate surface area of

 

 

 

 

m2

ft2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CO-OWNERSHIP : (Fill in only if the property is held in co-ownership)

 

 

 

 

 

 

 

 

 

 

The property is held in

 

divided co-ownership

 

 

 

 

 

 

 

 

 

 

The unit is sold with

 

 

undivided co-ownership for a share equal to

 

 

 %

 

 

 

 

 

 

 

 

parking space(s) (no.

 

and/or cadastral designation

 

 

)

 

and

 

storage space(s) (no.

 

 

 

and/or cadastral designation

 

 

).

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

*The model documents on this web site are for reference purposes only; they can be modified by the parties, especially, without limitation, with respect to the provided conditions and time periods. In each case, we advise you to contact a lawyer or notary in private practice. DuProprio disclaims any and all liability with respect to the accuracy, sufficiency and relevance of the said models. DuProprio is not a real estate agency and does not represent the seller or the buyer.

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3.PRICE AND PAYMENT TERMS

3.1PRICE: The purchase price shall be

dollars (indicate the amount

in words) which the Buyer agrees to pay in full upon the execution of the deed of sale.

3.2PAYMENT TERMS (optional): The Buyer undertakes to pay the full purchase price as follows: DOWNPAYMENT (including the deposit, if applicable) according to the method and within the deadline indicated by the acting notary, to be held in trust:

MORTGAGE LOAN in accordance with paragraph 6.1.1 and according to the method and within the deadline indicated by the acting notary, to be held in trust:

TOTAL PRICE (= downpayment + mortgage loan):

The total price will be released to the Seller following the execution of the deed of sale and the registration at the Land register by the acting notary.

3.3DEPOSIT (optional): With this offer to purchase, the Buyer gives a sum of

dollars

$

(Indicate the amount in numbers)

$

(Indicate the amount in numbers)

$

(Indicate the amount in numbers)

$

(Indicate the amount in numbers)

$

(Indicate the amount in numbers)

(indicate the amount in words) by cheque payable to “Mtre,

Notary, in trust’’ (Buyer’s notary) as a deposit on the purchase price due. This amount will be deposited once all of the conditions of this offer to purchase have been met and will be applied against the purchase price. Should this offer to purchase become null and void, the deposit shall be immediately reimbursed to the Buyer without interest.

4.DECLARATIONS AND OBLIGATIONS OF THE BUYER

4.1DECLARATIONS :

a)Subject to paragraph 6.2.1 and unless otherwise indicated in paragraph 8, the Buyer has visited the property on

20

 

and declares himself satisfied therewith;

b)The Buyer declares having made the proper verifications with competent authorities regarding his intended use of the property (based on the zoning) and declares himself satisfied therewith.

Before making this declaration, the Buyer may consult a notary or lawyer in private practice to verify whether any particular intended use (for e.g. bi-generation, daycare, professional office, etc.) complies with municipal zoning bylaws.

4.2FEES : The Buyer shall assume all fees and expenses of the deed of sale, its publication and the required copies. If the Buyer obtains financing from a financial institution which requires any test, evaluation, inspection or other, their cost shall be borne by the Buyer.

4.3LEASING CONTRACTS: The Buyer shall assume the following appliance and equipment leases:

4.4NON-ASSIGNABILITY: The Buyer may not sell, assign or otherwise alienate any of his rights in this offer to purchase without the prior written consent of the Seller.

5.DECLARATIONS AND OBLIGATIONS OF THE SELLER

5.1DECLARATIONS: The Seller declares, unless otherwise indicated in paragraph 8 or in the “Declaration of the Seller”:

a)The Seller is not aware of any factor relating to the property which could substantially reduce its value or the income generated thereby, or increase the expenses relating thereto (for e.g. environmental issues, harmful noise or odors, construction or development project, etc.);

b)The Seller has not received a notice, from a competent authority or an insurer, indicating that the property does not comply with the laws and regulations in force, and with which he has not complied;

c)The property is not part of a housing complex within the meaning of the Act respecting the Régie du logement;

d)The property is not subject to the Act respecting the Preservation of agricultural land and agricultural activities;

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e)The property is not classified as cultural property and is not located in a historic or natural district, on a classified historic site or in a protected area pursuant to the Cultural Heritage Act;

f)The property complies with applicable laws and regulations relating to environmental protection;

g)The relevant municipality provides the property with water and sewer services;

h)The Seller is a resident of Canada within the meaning of federal and provincial taxation laws.

5.2DELIVERY: Unless otherwise indicated in paragraph 8, the property shall be delivered, upon the sale, in the same condition in which it was during the Buyer’s last visit.

5.3TITLE OF OWNERSHIP: The Seller guarantees the Buyer with a valid title of ownership, free of any prior claim, mortgage, real right or other charge, other than the usual and apparent servitudes of public utility.

5.4OWNERSHIP DOCUMENTS: The Seller shall provide the Buyer with a certified copy of its act of acquisition (for e.g. deed of sale) as well as a certified copy of a certificate of location describing the current state of the property. The cost of any new certificate of location shall be borne by the Buyer if it reveals no change from the certificate of location provided by the Seller. If the property is held in divided co-ownership, the certificate of location shall pertain to the private portion being sold. If the property is held in co-ownership, the Seller shall also provide the Buyer, as the case may be, with a certified copy (or, if unavailable, a copy certified by the Land register) of the declaration of co-ownership including the building by-laws or of the indivision agreement and any document adopted by the undivided co-owners. These documents shall be forwarded by the Seller to the Buyer’s notary at the latest thirty (30) consecutive days before the date on which the deed of sale is scheduled to be signed.

5.5FEES: The fees relating to the repayment (including any penalty due for early repayment) and to the striking-off of any loan secured by mortgage, prior claim or any other real right affecting the property shall be borne by the Seller where payment of those costs is not assumed by the Buyer.

5.6DEFECT OR IRREGULARITY: Should the parties be notified, prior to the execution of the deed of sale, of any defect or irregularity affecting the titles, or in the case of non-compliance with any declaration of the Seller contained herein, the Seller shall, within twenty-one (21) consecutive days following receipt of written notice to that effect, notify the Buyer in writing: (i) that he has remedied the said defect, irregularity or non-compliance at his own expense; or (ii) that he will not remedy it.

In the event that the Seller does not remedy the said defect, the Buyer may, within five (5) consecutive days following receipt of the Seller’s notice, notify the Seller in writing: (i) that he is purchasing the property with the said defect, irregularity or non-compliance, in which case the Seller’s warranty shall be reduced accordingly; or (ii) that he renders this offer to purchase null and void.

If the Buyer fails to notify the Seller within this five (5) day time period, this offer to purchase shall become null and void, in which case the fees, expenses and disbursements incurred by each party shall be borne by each party respectively.

5.7INTERVENTION OF SPOUSE (MARRIED OR CIVIL UNION): If all or part of the property constitutes the Seller’s family residence, or where rendered necessary by the Seller’s matrimonial regime, the Seller shall provide to the Buyer, as soon as this offer to purchase is accepted, his spouse’s written consent, and, where applicable, his spouse’s concurrence and undertaking to intervene in the deed of sale for the same purpose, failing which the Buyer may render this offer to purchase null and void by giving written notice to that effect.

6. OPTIONAL CONDITIONS OF THIS OFFER TO PURCHASE

IN THIS SECTION, ONLY THE CONDITIONS WHICH ARE CHECKED FORM AN INTEGRAL PART OF THIS OFFER TO PURCHASE. THE FOLLOWING LIST IS NON-EXHAUSTIVE: YOU MAY ADD CONDITIONS.

6.1FINANCING CONDITIONS (Check paragraph 6.1.1 or 6.1.2, depending on which is applicable to your situation)

6.1.1 Financing of the Buyer by a Mortgage Lender

a)Terms: This offer to purchase is conditional upon the Buyer obtaining a mortgage loan of at least $

(indicate the price offered in section 3.1 minus the downpayment) secured by a first

rank mortgage. The interest rate of the loan shall not exceed

 

 

% per year and the loan shall be

calculated according to a maximum amortization plan of

 

 

years for a minimum term of

 

years.

b)Undertaking of the Mortgage Lender : The Buyer shall, within ten (10) consecutive days following the acceptance of this offer to purchase, provide the Seller with a copy of the mortgage lender’s undertaking to grant the Buyer such a loan without conditions, or on condition of the sale of the Buyer’s property in the event paragraph 6.2.5 applies. The receipt by the Seller of such undertaking within that period shall have the effect of satisfying this condition.

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c)Default : Should the Buyer fail to provide the Seller with an undertaking within this ten (10) day time period or in the case of a refusal from the mortgage lender, the Seller may, within five (5) consecutive days following the expiry of said time period, notify the Buyer in writing:

i)that he renders the present offer to purchase null and void, without further recourse on either side;

OR

ii)that the Buyer must immediately submit a new application for a mortgage loan to a mortgage lender determined by the Seller, respecting the terms of paragraph 6.1.1 a). Should the Buyer fail to provide the Seller with an undertaking within the time period provided in the Seller’s notice or upon presentation, by the Buyer, of evidence of the refusal from the mortgage lender, the present offer to purchase shall become null and void.

Should the Seller fail to notify the Buyer, this offer to purchase shall become null and void upon expiry of this five

(5) day time period.

OR

6.1.2Proof of Availability of Funds in case of Cash Sale

a)Terms : This offer to purchase is conditional upon the Buyer providing the Seller, within ten (10) consecutive days following the acceptance of this offer to purchase, with any document proving:

i)that the Buyer has the necessary funds to cover the purchase price; or

ii)that the Buyer has accepted an offer to purchase on a property which he owns, and that all conditions thereof have been fulfilled, excluding the execution of the deed of sale, as well as evidence (for example, a letter from the mortgage lender) to the effect that the proceeds of such sale will be sufficient to cover the purchase price indicated at paragraph 3.1.

b)Default : Should the Buyer fail to provide the Seller with such documents within the time period provided, this offer to purchase shall become null and void when that period expires.

6.2 OTHER CONDITIONS (Check only the applicable conditions)

6.2.1 Inspection (Check only if applicable)

This offer to purchase is conditional upon the Buyer being able to have the property inspected at his expense by a building expert within seven (7) consecutive days following the acceptance of this offer to purchase. Should this inspection reveal the existence of defects or other factors affecting the property, which could substantially reduce its value or the income generated thereby, or increase the expenses relating thereto, the Buyer shall so notify the Seller in writing and shall give him, within four (4) consecutive days following the expiry of the above-mentioned time period, a copy of the inspection report as well as his decision to: (i) purchase in accordance to the terms of this offer to purchase; (ii) propose an amendment to this offer to purchase; or (iii) declare this offer to purchase null and void. If the Buyer fails to carry out the inspection or notify the Seller pursuant to the above-mentioned terms in the time period provided, he shall be deemed to have waived this condition.

6.2.2Drinking Water Quality and Septic Systems Compliance Tests (Check only if applicable)

The Buyer shall have seven (7) consecutive days following the acceptance of this offer to purchase to have a drinking water test conducted and to have the septic systems’ compliance verified, at his expense. Should the result of these tests reveal that the water is unfit for human consumption or that the septic systems are not compliant, the Buyer shall so notify the Seller in writing and give him a copy of this result within four (4) consecutive days following the expiry of the above-mentioned time period. This offer to purchase shall become null and void following receipt by the Seller of such notice together with this result. Should the Buyer fail to conduct the tests or notify the Seller in the time period provided, the Buyer shall be deemed to have waived this condition.

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6.2.3Review of Divided or Undivided Co-ownership Documents (Check only if applicable)

This offer to purchase is conditional upon the Buyer reviewing the declaration of co-ownership, including the building by-laws, or the indivision agreement and any document adopted by the undivided co-owners, as well as the following documents:

To this effect, the Seller shall provide the Buyer with a copy of these documents within five (5) consecutive days following the acceptance of this offer to purchase. Should the Buyer be unsatisfied after reviewing these documents and therefore wish to withdraw this offer to purchase, he shall so notify the Seller in writing, within seven (7) consecutive days following receipt of these documents. This offer to purchase shall become null and void upon receipt of such notice by the Seller. Should the Buyer fail to notify the Seller in the time period provided, the Buyer shall be deemed to have waived this condition.

6.2.4Waiver of a Pre-emptive Right Provided in an Indivision Agreement or elsewhere (Check only if applicable)

This offer to purchase is conditional upon the Seller obtaining from any undivided co-owner who benefits from a right to acquire the property by preference over the Buyer, a written waiver of such right and to submit it to the Buyer within five (5) consecutive days following the acceptance of this offer to purchase. Receipt of such a waiver within this time period shall fully satisfy this condition. Should the Seller fail to provide the Buyer with such waiver within the time period provided, this offer to purchase shall become null and void.

6.2.5Sale of the Buyer’s Property and 72-Hour Clause (Check only if applicable)

a)Terms : This offer to purchase is conditional upon the sale of the Buyer’s property located at

 

 

 

 

 

,

before

 

20

 

.

 

Receipt, within this time period, of a written notice from the Buyer that the present condition is fulfilled or waived, together with either the undertaking of a mortgage lender to grant him a loan without conditions or proof respecting the terms of paragraph 6.1.2 a), shall fully satisfy this condition.

Should the Buyer be unable to meet the requirements of this condition within the time period provided, this offer to purchase shall become null and void when that period expires.

Notwithstanding this condition, the Buyer must proceed with the fulfilment of the other conditions as of the acceptance of this offer to purchase.

b)72-Hour Clause: The Seller may continue to offer the property for sale despite the acceptance of this offer to purchase. If the Seller accepts another offer to purchase, he shall so notify the Buyer by any means providing evidence of the time of receipt, as soon as all the conditions of this new offer to purchase have been fulfilled, excluding obtaining the cancellation of this offer to purchase. The Buyer shall then have seventy-two (72) consecutive hours from the receipt of such notice to inform the Seller in writing of his decision to:

i)remove all conditions of this offer to purchase which have not yet been fulfilled, including, without limitation, the condition of sale of the Buyer’s property, and to provide an undertaking from a mortgage lender to grant him a loan without conditions or proof respecting the terms of paragraph 6.1.2 a); or

ii)render this offer to purchase null and void.

Should the Buyer fail to notify the Seller within the time period provided, this offer to purchase shall become null and void when that period expires.

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6.2.6Acceptance Conditional Upon Cancellation of Another Accepted Offer to Purchase (Check only if the property is the object of another accepted offer to purchase, conditional upon paragraph 6.2.5)

The Seller declares that the property is the object of a conditional offer to purchase accepted on

.

Consequently, this offer to purchase is conditional upon the cancellation of the first offer to purchase. The Seller shall take the necessary steps to obtain the cancellation of the first offer to purchase as soon as all the conditions of this offer to purchase are fulfilled, excluding the present condition. Should the Seller fail to notify the Buyer in writing of the cancellation of the first offer to purchase on or before

20(allow for a deadline which takes into account the time period for the fulfilment of the conditions of this offer to purchase once it is accepted + 72 hours + 1 extra day), this offer to purchase shall become null and void. Receipt of a notice within the time period provided indicating that the first offer to purchase has been cancelled shall give full effect to this offer to purchase.

7.TRANSFER OF OWNERSHIP AND OCCUPANCY

7.1DEED OF SALE : The parties undertake to execute a deed of sale before the Buyer’s notary, on or before

20 . The Buyer shall become the owner of the property upon the execution of the deed of sale and shall assume the risks starting on such a date in accordance with article 950 of the Civil Code of Québec.

7.2OCCUPANCY: The property shall be available for occupancy by the Buyer as of

20

 

at

 

:

 

am

pm, and the Seller undertakes to leave the

property free of all possessions not included in this offer to purchase, failing which the Buyer may have them removed at the Seller’s expense.

If the occupancy of the property is subsequent to the execution of the deed of sale, the Seller shall pay to the Buyer the

amount of $(indicate the amount in numbers) per month, from the date of execution of the deed of sale until the expected date of occupancy, as compensation for the occupation of the property by the Seller during that period. This amount shall be withheld from the purchase price by the notary and delivered to the Buyer. In addition, the Seller shall remain responsible for the costs of heating, electricity and repairs deemed to be leasehold repairs during that period.

7.3ADJUSTMENTS: Upon the execution of the deed of sale, all adjustments in respect of general and special real estate taxes, income generated by or expenses relating to the property, fuel reserves, equipment leases, co-ownership expenses if applicable, etc., shall be made as of the date of execution of the deed of sale.

If the property is held in co-ownership, there shall be no adjustments in respect of the contingency fund and the operating fund of the co-ownership.

7.4INCLUSIONS: The following items are included in the purchase price and sold without any legal warranty of quality, but must be in working order at the time of delivery:

7.5EXCLUSIONS: The following items are excluded from the sale:

8.OTHER CONDITIONS OR DECLARATIONS

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Buyer’s Initials

8. OTHER CONDITIONS OR DECLARATIONS (CONTINUED)

9. CONDITIONS OF ACCEPTANCE

This offer to purchase is irrevocable until

 

:

 

am

pm, on

20

 

.

 

 

 

 

 

If the Seller accepts this offer to purchase within this deadline, it shall constitute a legally binding contract between the Buyer and the Seller. If the Seller does not accept this offer within this deadline, this offer to purchase shall become null and void.

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10. SIGNATURES

The BUYER acknowledges having read, understood and agreed to this offer to purchase and having retained a copy thereof.

Signed in

 

, on

 

 

 

, at

 

:

 

am

pm.

 

(place)

 

 

 

(date)

 

(time)

 

 

 

 

 

 

 

 

 

 

 

 

 

Signature of Buyer 1

 

 

 

Signature of witness

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Signature of Buyer 2

 

 

 

Signature of witness

 

 

 

 

 

 

11. SELLER’S REPLY

The SELLER acknowledges having read and understood this offer to purchase and having received a copy thereof.

I declare that I

Signed in

accept this offer to purchase.

make a counter-offer to this offer to purchase. 

refuse this offer to purchase.

, on

 

, at

 

:

 

am

pm.

(place)

 

(date)

(time)

 

 

 

 

Signature of Seller 1

 

Signature of witness

 

 

 

 

 

Signature of Seller 2

 

Signature of witness

 

12.ACKNOWLEDGEMENT OF RECEIPT (Following the acceptance of the offer to purchase only)

The BUYER acknowledges having received a copy of the above accepted offer to purchase from the Seller.

Signed in

 

, on

 

 

 

, at

 

:

 

am

pm.

 

(place)

 

 

 

(date)

 

(time)

 

 

 

 

 

 

 

 

 

 

 

 

 

Signature of Buyer 1

 

 

 

Signature of witness

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Signature of Buyer 2

 

 

 

Signature of witness

 

 

 

 

 

 

13. INTERVENTION OF SELLER’S SPOUSE (MARRIED OR CIVIL UNION)

The undersigned declares being the spouse of the Seller, consenting to, and if applicable, concurring with the acceptance of this offer to purchase, and undertakes to intervene in the execution of the deed of sale for all purposes that the law may require.

Signed in

 

, on

 

 

 

, at

 

:

 

am

pm.

 

(place)

 

 

 

(date)

 

(time)

 

 

 

 

 

 

 

 

 

 

 

 

 

Signature of Spouse of Seller 1

 

 

 

Signature of witness

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Signature of Spouse of Seller 2

 

 

 

Signature of witness

 

 

 

 

 

 

The model documents on this web site are for reference purposes only; they can be modified by the parties, especially, without limitation, with respect to the provided conditions and time periods. In each case, we advise you to contact a lawyer or notary in private practice. DuProprio disclaims any and all liability with respect to the accuracy, sufficiency and relevance of the said models. DuProprio is not a real estate agency and does not represent the seller or the buyer.

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Download Duproprio PDF Form

Form Data

Fact Number Description
1 The form initiates with the identification of both the buyers and sellers, delineating their names, addresses, contact numbers, and email addresses.
2 It specifies the object of the contract, including a detailed description of the property, co-ownership details, and cadastral designation.
3 Price and payment terms are clearly outlined, detailing the method and timing of payment, including an optional deposit clause.
4 Buyer's declarations and obligations encompass property inspection, verification of intended use compliance with zoning laws, and assumption of various fees.
5 Seller's declarations assure the property's compliance with environmental, legal, and communal standards, and address potential defects or irregularities.
6 The offer includes a commitment to deliver title documents and ownership evidence, free of undisclosed encumbrances.
7 Conditions related to the offer can be tailored, including financing requirements and inspection results, with clear procedures for amendment or withdrawal.
8 Special clauses regarding the intervention of a seller's spouse in sale processes are provided to ensure legal compliance.
9 The document emphasizes DuProprio's disclaimers regarding liability for accuracy and adequacy, clarifying that the templates are modifiable and that legal consultation is advised.

Instructions on Utilizing Duproprio

Filling out the DuProprio form for an Offer to Purchase – Residential is a fundamental step in the home buying process, serving as a formal proposal from the buyer to the seller. This form outlines the terms under which the buyer agrees to purchase the property, including identification of all parties, the object of the contract, price, payment terms, and any additional conditions. It’s essential that all information provided is accurate and comprehensive, ensuring a clear and legally binding agreement between the two parties. The steps below guide you through the completion of this form, and what follows is a meticulous review to align expectations and facilitate a smoother transaction.

  1. Start with the IDENTIFICATION OF THE PARTIES section. Enter the full names, addresses, telephone numbers (residential and work), and email addresses for both Buyer 1 and Buyer 2, if applicable. This identifies who is making the offer.
  2. Provide the seller's information under SELLER 1 and, if applicable, SELLER 2. Include the same details as requested for the buyers. This confirms who is receiving the offer.
  3. Proceed to the OBJECT OF THE CONTRACT. Fill in the complete address of the property, including the cadastral designation and lot measurements. If the property is a condominium, specify the share percentages for parking and storage spaces.
  4. In the PRICE AND PAYMENT TERMS section, clearly state the purchase price both in words and numbers. Detail the downpayment and mortgage loan information, if relevant, and how the total price will be paid to the seller.
  5. If a DEPOSIT is part of your offer, specify the amount in numbers and words, and make the cheque payable as indicated.
  6. Under DECLARATIONS AND OBLIGATIONS OF THE BUYER, include any relevant declarations about the property inspection and any other verifications done by the buyer. State any leasing contracts that the buyer will assume and affirm the non-assignability clause.
  7. Complete the DECLARATIONS AND OBLIGATIONS OF THE SELLER section with the seller's declarations regarding the property’s condition, compliance with regulations, and any potential issues.
  8. Review the OPTIONAL CONDITIONS OF THIS OFFER TO PURCHASE section carefully. Check any conditions that apply to your offer, such as financing conditions, inspection requirements, and other contingencies. Provide all necessary details for each condition you check.
  9. Ensure all parties involved provide their initials on each page of the form where indicated, to acknowledge their agreement with the information provided.
  10. Finally, carefully review the entire form to ensure accuracy and completeness. Once satisfied, all parties must sign and date the form to validate the offer.

This step-by-step guide ensures that the Offer to Purchase form is filled out correctly and comprehensively. It’s advisable for all buyers to consult a lawyer or notary to ensure that all legal requirements are met and that the terms of the offer protect their interests. Once the form is completed and submitted, a period of negotiation may follow, potentially leading to an acceptance, counteroffer, or refusal. Preparing this document with attention to detail is crucial for a successful real estate transaction.

Obtain Answers on Duproprio

  1. What is the purpose of the DuProprio form?

    The DuProprio form serves as an "Offer to Purchase" document, primarily used in transactions involving residential properties such as single-family homes, condos, or vacant land. Its main purpose is to outline the agreement between the buyer and seller, detailing the identification of the parties involved, the object of the contract, price, payment terms, declarations, obligations, and any conditions applicable to the purchase.

  2. Who should fill out the DuProprio form?

    Both the buyer and the seller need to fill out the DuProprio form. The form is designed to capture essential details from both parties, including their names, addresses, contact information, and details about the property in question. It is crucial for ensuring that all parties are on the same page regarding the terms of the sale.

  3. Is a deposit required when submitting an offer via the DuProprio form?

    A deposit is optional and depends on the agreement between the buyer and seller. If opted for, the buyer provides a specified amount as a deposit on the purchase price, which is held in trust by the buyer's notary until all conditions of the offer to purchase are met. The deposit is applied against the purchase price upon the sale's closure or immediately reimbursed to the buyer without interest if the offer to purchase becomes null and void.

  4. What happens if a buyer or seller fails to meet the agreed conditions?

    If either party fails to meet the conditions outlined in the DuProprio form within the specified time frames, the offer to purchase may become null and void. The form includes clauses that detail the steps to be taken should a party default on conditions related to financing, inspection, or the sale of the buyer’s existing property, for example. Each condition has specific repercussions and actions that can be taken by both the buyer and seller.

  5. Can the offer be modified after the DuProprio form is filled out?

    Yes, the offer can be modified after the initial form is filled out, but any changes must be agreed upon by both the buyer and seller, and these changes should be documented in writing. Amendments to the offer can occur, for instance, after an inspection reveals the need for repairs or if either party wishes to alter the terms of the sale.

  6. Are there any specific legal requirements or professionals needed when using the DuProprio form?

    While the DuProprio form serves as a comprehensive template for drafting an offer to purchase, it is recommended that both buyers and sellers consult with a legal professional, such as a lawyer or notary, to review the terms of the agreement. This ensures that the form aligns with legal standards and protects the rights and interests of all parties involved.

  7. What happens to the information provided in the DuProprio form?

    The information provided in the DuProprio form is used to formalize the offer to purchase between the buyer and seller. It becomes part of the legal documentation regarding the sale and must be retained by both parties for their records. The details within the form are also used by legal professionals to prepare the final deed of sale and any other necessary legal documents to conclude the property transaction.

Common mistakes

  1. Not thoroughly identifying all parties involved: It's essential to provide complete and accurate information for every individual listed, whether as a buyer or seller. This includes full names, addresses, contact numbers, and email addresses. When this step is incorrectly filled out, it can lead to confusion about who is legally responsible for the transaction.

  2. Omitting details in the "Object of the Contract" section: Every aspect of the property, such as the address, cadastral designation, and measurements, must be precisely recorded. Failure to do so can result in disputes over what was included in the sale.

  3. Inaccurate representation of the purchase price and payment terms: If the amount in words and numbers doesn't match or if details about the downpayment, mortgage, or total price are vague, this can delay or derail the purchase process.

  4. Overlooking deposit information: Neglecting to state the deposit amount or not specifying the conditions under which it can be refunded can lead to legal complications if the offer to purchase is canceled.

  5. Skipping declarations and obligations: Both buyers and sellers must accurately disclose all known issues with the property and any fees or obligations. Ignoring this section can result in future legal action if undisclosed issues are discovered.

  6. Ignoring the need for inspection or testing: If the optional conditions for inspection, water quality, and septic system compliance are not properly addressed, buyers may end up with costly problems after the purchase.

  7. Failing to review co-ownership documents: Buyers should demand and thoroughly review documents related to divided or undivided co-ownership. Not doing so can lead to misunderstandings about what is owned and the rules that apply to the property.

  8. Leaving optional conditions unchecked: Not clearly specifying which optional conditions apply to the offer can lead to ambiguity and weaken the buyer's position if certain conditions, like financing or the sale of the buyer's property, are not met.

Documents used along the form

When navigating the process of buying or selling property, the DuProprio form, specifically the Offer to Purchase – Residential, is a crucial document. However, to ensure a smooth and legally sound transaction, several other forms and documents frequently accompany the Offer to Purchase. Each document serves a specific purpose, aiming to provide clarity, fulfill legal requirements, and protect all parties involved.

  • Title Insurance Policy: A document that provides protection to the homebuyer and lender against any loss or damage due to liens, encumbrances, or defects in the title to the property.
  • Property Inspection Report: An assessment conducted by a professional inspector detailing the condition of the property, including its systems and structures, and highlighting any needed repairs.
  • Mortgage Pre-Approval Letter: A letter from a lender stating the amount of money that a potential buyer is authorized to borrow based on their creditworthiness and financial history.
  • Property Disclosure Statement: A form where the seller provides detailed information about the property’s condition, including any known defects or issues.
  • Property Tax Records: Documents that contain the historical property tax payments, helping the buyer understand the property’s annual tax obligations.
  • Homeowners’ Association (HOA) Documents: For properties in an HOA, these documents outline the rules, regulations, and fees associated with the community.
  • Home Warranty Policy: A contract that covers the repair or replacement of the home’s systems and appliances due to normal wear and tear for a certain period after the sale.
  • Survey Report or Certificate of Location: A document that shows the boundaries, dimensions, and location of the property and its structures on a plot of land.
  • Final Walk-Through Checklist: A form used during the final walk-through before closing, ensuring all agreed-upon repairs have been completed and the property is in the expected condition.
  • Closing Disclosure: A detailed document from the lender that outlines the terms of the loan, closing costs, and other financial details in the final stages before completing the sale.

Each of these documents plays a vital role in the real estate transaction process, providing transparency, assurance, and legal protection. For buyers and sellers alike, understanding and properly managing these forms can lead to a more informed, secure, and satisfactory purchase experience. Ensuring all documents are in order, accurate, and fully understood can significantly impact the smooth completion of a property transaction.

Similar forms

  • The Real Estate Sales Contract shares many similarities with the DuProprio form, as both outline the terms and conditions of a property sale, including identification of parties, property details, and the price. These contracts serve as binding agreements once signed by both parties, detailing the transfer of property from seller to buyer.

  • Lease Agreements resemble the DuProprio form in their structure for identifying parties and property, though focused on rental arrangements rather than sales. Lease agreements specify terms concerning the use of property, payment schedules, and responsibilities of both landlord and tenant, paralleling DuProprio's function in defining the obligations and rights of buyers and sellers.

  • The Mortgage Agreement mirrors the financing conditions section of the DuProprio form, laying out the terms under which a lender provides a loan to a buyer for purchasing property. Both documents detail payment conditions, interest rates, and other financial obligations, ensuring clarity around the financial aspects of property acquisition.

  • Inspection Reports are akin to the provisions in the DuProprio form that allow for property inspections. These reports evaluate the property's condition, identifying potential issues that might affect the sale. Like the DuProprio form, they play a crucial role in decision-making, allowing buyers to renegotiate or withdraw based on the findings.

  • The Title Insurance Policy has parallels in the declarations and obligations sections of the DuProprio form, which guarantee clear title and disclose any known issues with the property. Both protect the buyer's interests by ensuring the property is transferred without undisclosed encumbrances or legal hindrances.

  • Amendment to Offer to Purchase documents are related closely to the DuProprio form's structure for offering conditional terms, amendments following inspections, and other modifications to initial offers. These documents allow parties to renegotiate terms before finalizing the sale, reflecting the dynamic nature of real estate transactions.

  • Condominium Association Documents, similar to the section in the DuProprio form addressing divided or undivided co-ownership, provide vital information about the management, rules, and financial health of a condominium association. These documents are crucial for buyers to understand their obligations and rights within a condo complex.

Dos and Don'ts

When filling out the DuProprio Offer to Purchase form, it is crucial to adhere to specific dos and don'ts to ensure the process goes smoothly and legally. Here is a guide to help navigate filling out the form:

Do:
  • Verify all information thoroughly. Make sure names, addresses, and contact details for all parties (buyer and seller) are accurate and complete. Errors in identification can lead to significant complications down the line.
  • Describe the property in detail. Include all relevant information such as the address, cadastral designation, lot measurements, and whether the property is held in divided or undivided co-ownership. This clarity helps prevent misunderstandings.
  • Specify the price and payment terms clearly. Outline the purchase price in words and numbers, detail the downpayment, mortgage loan information, and deposit requirements. Clear communication on financial matters is key to a smooth agreement.
  • Be explicit about conditions of the sale. If applicable, clearly state financing, inspection, and any other conditions. Checking the proper boxes and providing explicit details will ensure that all parties understand the terms.
  • Include necessary documents. Attach any required supporting documents such as the mortgage lender's undertaking, inspection reports, or co-ownership documents, as specified in the conditions of the offer.
  • Consult with a legal professional. Although the form can be filled out without legal help, it is advisable to consult with a lawyer or notary, especially for customized conditions or to verify compliance with zoning bylaws.
Don't:
  • Skip sections. Even if a section seems not to apply, review it carefully before deciding to leave it blank. Every part of the form serves a purpose, and overlooking sections can create issues.
  • Underestimate the importance of deadlines. Whether it is for accepting the offer, fulfilling conditions, or conducting inspections, adhere strictly to the deadlines specified in the offer to purchase. Delays can jeopardize the transaction.
  • Ignore the need for precision in financial figures. When it comes to the deposit and total purchase price, accuracy is non-negotiable. Ensure that all financial figures match up in the text and numeric forms to avoid disputes.
  • Forget to review municipal zoning bylaws. Understanding the legal use of the property is essential. Avoid making assumptions about what activities or modifications are permitted.
  • Overlook declarations and obligations. Both buyers and sellers must pay close attention to the declarations and obligations sections, ensuring that all statements are accurate and all responsibilities are clear.
  • Proceed without written consent when required. If the sale involves the seller’s family residence, make sure to obtain and provide the spouse's written consent if required, to prevent any legal complications.

Following these guidelines can make the process of filling out a DuProprio Offer to Purchase form more straightforward, ensuring that both buyers and sellers are protected and informed throughout the transaction.

Misconceptions

Understanding the DuProprio form, a document often used in real estate transactions in areas where the service operates, can sometimes lead to misconceptions among buyers and sellers. Given the technical nature and specificity of real estate transactions, it is crucial to address these misunderstandings:

  • Misconception #1: The DuProprio form fully replaces the need for a real estate professional.

    While the form is comprehensive, it does not replace the personalized advice and experience that a real estate professional, such as an agent, lawyer, or notary, can provide, especially in complex transactions.

  • Misconception #2: The identification of parties is just a formality.

    Gathering detailed information about both the buyer and the seller is critical for legal identification and ensuring the enforceability of the contract.

  • Misconception #3: All conditions of the offer to purchase are standard and non-negotiable.

    Conditions can often be negotiated and tailored to the specific needs and agreements between the buyer and seller, such as adjusting financing terms or inspection deadlines.

  • Misconception #4: The deposit is non-refundable under any circumstance.

    The deposit can be refunded if the offer to purchase is nullified based on failure to meet agreed-upon conditions or through mutual agreement between the parties.

  • Misconception #5: Buyer declarations do not require due diligence.

    Buyers are encouraged to perform thorough due diligence on the property, including zoning and use verifications, which could influence their satisfaction and the legality of their intended use of the property.

  • Misconception #6: The seller’s declarations are an absolute guarantee.

    While sellers must disclose known issues, buyers should conduct independent inspections and verifications to confirm the property’s condition.

  • Misconception #7: Optional conditions are seldom important.

    Optional conditions, such as financing, inspections, and reviews of co-ownership documents, are crucial for protecting the interests of both buyers and sellers. They should be tailored to the specifics of the transaction.

  • Misconception #8: The property is immediately transferred upon signing the offer to purchase.

    Property transfer only occurs after all conditions are met, and the deed of sale is executed and registered.

  • Misconception #9: Amendments to the offer are not allowed once signed.

    Amendments can be made if both parties agree, especially in response to inspection findings or financing issues.

  • Misconception #10: The form negates the need for legal review.

    Even though the DuProprio form is comprehensive, consulting a lawyer or notary before signing the document can prevent legal oversights and ensure the protection of all parties involved.

In conclusion, while the DuProprio form is a valuable tool in real estate transactions, individuals should approach the process with due diligence and, where necessary, professional guidance.

Key takeaways

Filling out and using the DuProprio form accurately is key to a smooth property transaction. Here are eight key takeaways to ensure clarity and compliance:

  • Complete identification of the parties is crucial. This section details the buyer(s) and seller(s)' name, address, telephone numbers, and email. It's the foundation of the agreement, identifying all involved individuals.
  • The object of the contract section clearly outlines the property in question, including its address, cadastral designation, measurements, and specifics about co-ownership. This part ensures both parties agree on exactly what is being bought or sold.
  • Price and payment terms must be specified. This includes the total purchase price, the downpayment, mortgage information, if applicable, and how the total price will be released to the seller. It's important for establishing financial understanding and obligations.
  • A deposit may be included as a show of good faith from the buyer, which will be applied against the purchase price once all conditions are met. If the offer becomes null and void, it’s typically refunded without interest.
  • The form includes sections for declarations and obligations of both the buyer and the seller. Buyers will declare they’ve inspected the property and researched applicable zoning, while sellers must disclose any known issues that could affect the property's value or legality.
  • Special attention should be given to the ownership documents and delivery conditions, ensuring the buyer gets a valid title and the property in the condition expected. These sections protect the buyer’s interests and clarify what documents the seller provides.
  • The form also addresses optional conditions of the offer, including financing, inspection, and other contingent factors that could affect the completion of the sale. Being precise here helps prevent misunderstandings.
  • Optional conditions like financing approval, property inspection outcomes, water quality testing, and the sale of the buyer’s current property can significantly impact the transaction's progress and outcome. These must be checked and fulfilled according to the agreed terms.

Understanding and accurately filling each section of the DuProprio form can make the process of buying or selling property smoother and more transparent for all parties involved.

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