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The purchase and sale of commercial real property in Alberta and the vendor and purchaser obligations will be governed by the provisions of the signed purchase and sale agreement. It is important to review the specific provisions of each agreement carefully
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Deposits: 4.5. Failure to Pay Deposits: this is a brand-new section found in clause 4.5 of the 2016 Alberta Real Estate Purchase Contract. Here is what the clause says: " If the buyer fails to pay a deposit, by the agreed date, the seller may void this contract at the seller's option by giving the buyer written notice.
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OFFER TO PURCHASE the property municipally known as , , Alberta (hereinafter referred to as "the Property") and legally described as Plan , Block , Lot , subject to the reservations and exceptions appearing in the existing Certificate of Title. 1. The total Purchase Price shall be the sum of $ , payable as follows: $_________
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Signing a purchase agreement Resources Contact Overview After deciding on the type of home, budget, location, and other important factors, you may be ready to buy a new home. How many homes are for sale at a given time within your price range may change quite a bit throughout the year, and from year to year. Know the market
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When buying land in Alberta, you must understand zoning, pre-qualify for a land loan mortgage, and carefully review the purchase agreement. If you plan on building a home on the land, you'll need an additional home construction loan.; These loans can require a down payment of up to 50% and have a higher interest rate than conventional mortgages.
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The Alberta Real Estate Association (AREA) has created this document to assist its members in drafting terms, conditions and warranties to meet the needs of buyers and sellers in the preparation and negotiation of the Residential Real Estate Purchase Contract. At no time are the provided clauses to be thought of as required wording. The clauses
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1. The availability of the FST new housing rebate. 2. The ability of the customer to transfer the GST new housing rebate to the home builder. 3. The timing of liability for payment of the GST.
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Agricultural Purchase Contract. This contract is best used for plots of land (not subdivided lots usually) where no habitable dwelling exists. In general, the purchase and sale of these properties always have some income element (hay lease, cropping, grazing, etc.), resulting in a GST implication, so the contract assumes this by not including.
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2.1 The Buyer and the Seller agree to act cooperatively, reasonably, diligently and in good faith. 2.2 Other than the Deposits, the Buyer shall pay the Purchase Price by certified cheque, lawyer's trust cheque, bank draft or other agreed value as follows: $______________________ Initial Deposit $______________________ Additional Deposit
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Signing Documents (Alberta) There are a number of documents which must be created and signed respecting every purchase and sale of real estate in Alberta. Some of the documents are for internal use or are documents that are for the Buyer, Seller and the Lender only. There are, however, documents which must be registered at the Land Title Office.
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2) Look At The Real Property Report. The real property report is a survey of the property. Always ask to see it before signing any Alberta real estate purchase contracts. If the sellers do not have one, or if they have added structures to the property since the last one was completed, then you can add it as a condition to the contract.
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Buying and selling real estate can be a challenging for even experienced consumers. Each transaction presents important and often difficult decisions to be made. And each decision seems to involve its own form.
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unless the seller, buyer or both have agreed to alternate representation, the seller and buyer are each represented by their own sole agent and those agents have no agency responsibility to the other party; the laws of Alberta apply to this contract;
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2.1 The Buyer and the Seller agree to act cooperatively, reasonably and in good faith. 2.2 The Buyer hereby offers to purchase the Property for the Purchase Price specified and allocated below: $ _______________________________________________ Initial Deposit $ _______________________________________________ Additional Deposit
