The Agreement of Purchase and Sale for purchasing a home in the Province of Ontario is also commonly called an Offer To Purchase.

The Ontario Real Estate Association (OREA) is continuosly updating and revising this form in order to better protect both Buyers and Sellers of Real Estate.

As this is a legal and binding contract (once agreed to by all parties) it is very important that home buyers and sellers understand exactly what they are signing and their responsibilites and rights which are outlined within the Offer.

Your Realtor will prepare your offer if you are buying Real Estate, or will explain an offer submitted to you if you are selling Real Estate.

The Offer will include:

1. The offered price and deposit.

2. Fixtures that are included in the purchase price.

The Offer will also include many clauses, disclosures, and more. Note that they can be lengthy and difficult to understand (they were created by lawyers after all!).

Below is a link to an easy to understand (in laymans terms) summary of the most current OREA Agreement of Purchase and Sale for the Province in Ontario.

Each point has been summarised in plain language in red italic.

I hope you will find this helpful!

Click here to access the link

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