AI Alberta Purchase Agreement

Provide property details, purchase price, parties, contingencies, and dates, and receive a complete, Alberta-compliant residential purchase agreement in minutes. Follows the structure and customary terms of the AREA standard Residential Purchase Contract, incorporates Alberta Real Estate Act requirements, RECA rules, and key practices for financing, inspection, deposit trust, seller disclosure, and distinct completion/possession dates., -

This Residential Purchase Agreement (this "Agreement") is made as of [[Agreement Date]] ("Effective Date") between:

Seller: [[Seller Full Legal Name(s)]] ("Seller")
Address for notices: [[Seller Notice Address]]
Phone: [[Seller Phone]] | Email: [[Seller Email]]

Buyer: [[Buyer Full Legal Name(s)]] ("Buyer")
Address for notices: [[Buyer Notice Address]]
Phone: [[Buyer Phone]] | Email: [[Buyer Email]]

Seller agrees to sell and Buyer agrees to purchase the Property described below on the terms set out in this Agreement., -

ARTICLE I, PARTIES AND PROPERTY

1. Property

The Property is the residential real property located at:
[[Street Address, Unit Number if any]]
[[City or Town]], Alberta [[Postal Code]]

Legal description: [[Full Legal Description, Plan, Block, Lot, or other from title]]

Tax / Parcel ID: [[Tax Roll or Parcel Identifier]]

The Property includes all buildings, improvements, fixtures, and appurtenances. Included personal property: [[List included chattels, e.g., fridge, stove, washer, dryer, window coverings, or "as per attached Schedule A"]]. Excluded: [[List exclusions or "none"]].

2. Title and Encumbrances

Seller will convey marketable title free and clear of all encumbrances except for: permitted registered easements and restrictive covenants that do not materially affect use; any mortgage to be discharged on or before completion from sale proceeds; and any other items disclosed in the Seller Property Disclosure Statement.

3. Seller Property Disclosure Statement (SPDS)

Seller shall deliver to Buyer within [[e.g., 3 business days]] after the Effective Date a completed Seller Property Disclosure Statement (or equivalent form required or recommended by RECA / AREA) disclosing all known material latent defects. Material latent defects are defects that are not discoverable by reasonable inspection and that render the Property dangerous, unfit for habitation, or substantially affect its value or use.

Buyer acknowledges that the SPDS is not a warranty and that Buyer is relying on Buyer's own inspections and investigations., -

ARTICLE II, PURCHASE PRICE AND DEPOSIT

4. Purchase Price

The total purchase price is $[[Purchase Price, Numerals]] (the "Purchase Price"), allocated and payable as follows:

5. Deposit (Earnest Money)

Within [[Deposit Deadline, e.g., 3 business days]] after the Effective Date, Buyer shall pay the deposit of $[[Deposit Amount]] to the listing brokerage (or its designated trust account) as stakeholder, to be held in trust in accordance with the Real Estate Act and RECA rules. The deposit shall be credited toward the Purchase Price on completion.

If the transaction does not complete due to Buyer's default, the deposit may be forfeited to Seller subject to the terms of this Agreement and applicable law. If the transaction does not complete for other reasons permitted by this Agreement, the deposit shall be returned to Buyer.

The listing brokerage is: [[Listing Brokerage Name and Trust Account Details]].

6. Adjustments

Taxes, rents, utilities, condo fees, and other items shall be adjusted as of the Completion Date on a per diem basis using the Completion Date as the adjustment date., -

ARTICLE III, CONDITIONS AND CONTINGENCIES

7. Financing Condition

☐ This Agreement is not subject to financing. Buyer represents that Buyer has sufficient funds or firm financing to complete.

☐ This Agreement is subject to Buyer obtaining a mortgage commitment on or before [[Financing Waiver / Satisfaction Deadline, e.g., 5 business days after Effective Date]] (the "Financing Deadline").

Loan details: [[Conventional / CMHC insured / Other]] for not more than $[[Loan Amount]] at interest not exceeding [[Max Rate]]% for a term of [[Term]] years.

If Buyer cannot obtain financing meeting these terms through no fault of Buyer, Buyer may terminate by written notice delivered to Seller by the Financing Deadline. The deposit shall be returned. If Buyer fails to give timely notice, the financing condition is waived.

8. Property Inspection / Due Diligence Condition

Buyer shall have the right to conduct inspections (home, structural, environmental, septic/well, etc.) at Buyer's expense. Buyer may terminate this Agreement by delivering written notice to Seller on or before [[Inspection Waiver / Satisfaction Deadline, e.g., 7 business days after Effective Date]] if Buyer is not satisfied with the results of inspections in Buyer's sole discretion.

Seller shall provide reasonable access for inspections during normal business hours upon 24 hours' notice (or shorter by agreement). Buyer shall restore the Property and repair any damage caused by inspections.

9. Sale of Buyer's Property Condition (if applicable)

☐ Not applicable.
☐ This Agreement is conditional on Buyer selling Buyer's current property at [[Buyer's Current Address]] on or before [[Sale Deadline]]. Buyer shall provide Seller with a copy of the accepted offer upon request.

10. Condominium / HOA Documents (if applicable)

If the Property is a condominium or subject to a homeowners association, Seller shall deliver the current bylaws, rules, financial statements, reserve fund study (if any), and estoppel certificate or status certificate within [[e.g., 5 business days]] after the Effective Date. Buyer may terminate if not satisfied with the documents on or before [[Condo Doc Review Deadline]].

11. Title Search and Review

Buyer shall have until [[Title Review Deadline, e.g., 5 business days]] after receipt of title documents to review title and to deliver written notice of any objection. Seller shall have until completion to clear title objections that are within Seller's control.

12. Waiver of Conditions

All conditions in favour of Buyer are for Buyer's sole benefit and may be waived by Buyer in writing at any time before the applicable deadline. Failure to waive or terminate by the deadline constitutes waiver.

There is no statutory cooling-off period for resale residential properties in Alberta., -

ARTICLE IV, COMPLETION, POSSESSION, AND CLOSING

13. Completion Date

Completion ("Closing") shall take place on [[Completion Date]] (the "Completion Date"). On the Completion Date, Seller shall deliver to Buyer (or Buyer's lawyer/notary) the following:

• Transfer of title in registrable form
• Keys, access devices, garage openers, and all codes
• Vacant possession (unless otherwise agreed)
• All required documents and adjustments

The deposit held in trust shall be released to the appropriate party on or immediately after completion.

14. Possession Date

Possession shall be given on [[Possession Date]] at [[Time, e.g., 12:00 noon]]. The Completion Date and Possession Date are distinct and negotiated separately. Buyer may take early possession only by separate written agreement.

If possession is not delivered on the Possession Date, Seller shall pay Buyer a per diem occupancy fee of $[[Per Diem Amount]] per day until delivery, without prejudice to other remedies.

15. Risk and Insurance

Risk of loss or damage to the Property remains with Seller until completion. Seller shall maintain property insurance until completion. If the Property is materially damaged before completion, Buyer may terminate and receive return of deposit, or proceed with an abatement., -

ARTICLE V, REPRESENTATIONS, WARRANTIES, AND DISCLOSURES

16. Seller Representations

Seller represents that:

• Seller has the legal right and authority to sell the Property.
• There are no undisclosed material latent defects.
• All known material latent defects have been disclosed in the SPDS.
• The Property is not subject to any pending expropriation or major municipal work orders that have not been disclosed.
• All improvements were constructed with required permits or Seller has disclosed unpermitted work.

17. "As Is" and Latent Defects

Except as expressly set out in this Agreement or the SPDS, the Property is sold "as is" subject to the duty to disclose known material latent defects. Disclosure of known material latent defects is mandatory regardless of any "as is" language.

18. Buyer Acknowledgment

Buyer acknowledges that Buyer has had the opportunity to inspect the Property and to obtain independent professional advice. Buyer is not relying on any representation not set out in this Agreement or the SPDS., -

ARTICLE VI, DEFAULT AND REMEDIES

19. Default by Buyer

If Buyer defaults, Seller may:

• Terminate this Agreement and retain the deposit as liquidated damages (not a penalty), or
• Pursue other remedies available at law or in equity, including specific performance.

20. Default by Seller

If Seller defaults, Buyer may:

• Terminate and recover the deposit plus reasonable costs, or
• Seek specific performance or damages.

21. Time of Essence

Time is of the essence for all deadlines and dates in this Agreement., -

ARTICLE VII, GENERAL PROVISIONS

22. Notices

All notices under this Agreement shall be in writing and delivered by personal delivery, registered mail, or email (with read receipt if available) to the addresses in the preamble or to the parties' lawyers/notaries.

23. Entire Agreement

This Agreement, including all schedules and the SPDS, constitutes the entire agreement between the parties and supersedes all prior negotiations and representations. Amendments must be in writing and signed.

24. Governing Law

This Agreement is governed by the laws of the Province of Alberta. Any dispute shall be resolved in the courts of Alberta or through the applicable real estate dispute processes.

25. Severability

If any provision is held invalid, the remaining provisions continue in full force.

26. Counterparts and Electronic Execution

This Agreement may be executed in counterparts and by electronic signature, each of which is deemed an original.

27. Schedules and Addenda

The following are attached and form part of this Agreement:

• Schedule A, Included / Excluded Chattels
• Schedule B, Seller Property Disclosure Statement
• Schedule C, Additional Conditions: [[list or "none"]]
• [[Other schedules as needed]], -

ARTICLE VIII, SIGNATURES

SELLER

Signature: ______________________________ Date: ___________

Name: [[Seller Signatory Name]]
(If more than one Seller, all must sign)

BUYER

Signature: ______________________________ Date: ___________

Name: [[Buyer Signatory Name]]

WITNESS (if required by brokerage or lawyer)

Signature: ______________________________ Date: ___________

Name: [[Witness Name]], -

DEPOSIT RECEIPT (to be completed by brokerage)

Received from [[Buyer]] the sum of $[[Deposit Amount]] on [[Date Received]] to be held in trust.

Brokerage: [[Listing Brokerage]]
Trust Account: [[Details]]
Received by: ______________________________ Date: ___________, -

SOURCES AND REFERENCES

• *Real Estate Act*, RSA 2000, c R-5 (Alberta) and regulations
• Real Estate Council of Alberta (RECA), agency disclosure, service agreements, and conduct rules
• Alberta Real Estate Association (AREA), standard Residential Purchase Contract forms and practices
• *Residential Tenancies Act* (where tenancy issues arise post-closing)
• Common law of contracts and property in Alberta
• As of June 2026, -

> Template, not professional advice. This is a general-purpose template illustrating typical Alberta residential purchase terms. It is not a substitute for legal advice or the current AREA standard forms. All parties should obtain independent legal advice and use the most current prescribed or recommended forms. Verify all deadlines, disclosure obligations, and trust requirements with RECA, a licensed Alberta real estate lawyer, or a qualified realtor before use. As of June 2026., -

*AI Alberta Purchase Agreement, airealtydesk.pro*