AI Ontario Purchase Agreement

Generate a complete Ontario Agreement of Purchase and Sale (APS) based on the widely used OREA Form 100 (and Form 101 for condominiums). Provide property details, purchase price, parties, deposit timing, contingencies, and dates to receive a full contract with all essential clauses, the 24-hour deposit rule, HST treatment for new construction, the 10-day statutory rescission period for new condominium purchases, requisition date mechanics, title and survey requirements, closing adjustments, possession terms, default remedies, and signature blocks., -

PARTIES AND PROPERTY

Date of Agreement: [[Date of Agreement / Offer Date (DD Month YYYY)]]

BUYER:
[[Buyer 1 Full Legal Name]]
[[Buyer 2 Full Legal Name (if joint)]]
Address for notices: [[Buyer Notice Address]]
[[City]], Ontario [[Postal Code]]
Phone: [[Buyer Phone]] Email: [[Buyer Email]]

SELLER:
[[Seller 1 Full Legal Name]]
[[Seller 2 Full Legal Name (if applicable)]]
Address for notices: [[Seller Notice Address]]
[[City]], Ontario [[Postal Code]]

REAL PROPERTY (THE "PROPERTY"):
Municipal address: [[Street Address]], [[City]], Ontario [[Postal Code]]
Legal description: [[Full Legal Description, Lot/Plan/Part, PIN or Parcel Number]]
Condominium (if applicable): [[Condominium Corporation Number / Unit Number / Level]]

The Seller agrees to sell and the Buyer agrees to purchase the Property together with all fixtures and chattels listed in Schedule A attached hereto., -

PURCHASE PRICE AND DEPOSIT

Purchase Price: $[[Purchase Price Amount]] (the "Purchase Price")

Deposit: The Buyer shall pay a deposit of $[[Deposit Amount]] (representing [[Deposit Percentage]]% of the Purchase Price) to [[Listing Brokerage / Deposit Holder Name]] (the "Deposit Holder") in trust.

Timing of Deposit: The deposit shall be delivered to the Deposit Holder within twenty-four (24) hours of acceptance of this Agreement by the Seller (or Buyer if counter-offer accepted). "Upon Acceptance" means the later of the date the Seller signs or the date the Buyer receives notice of acceptance.

The Deposit Holder shall place the deposit in a non-interest-bearing real estate trust account unless the parties otherwise agree in writing. The deposit shall be credited toward the Purchase Price on completion. If the transaction does not complete for reasons permitted under this Agreement, the deposit shall be returned to the Buyer without interest or deduction, subject to the terms below.

HST (Harmonized Sales Tax):
[[Included in Purchase Price / In addition to Purchase Price / Not applicable, resale residential property]]
If the sale is subject to HST, the Seller shall certify on or before closing whether the sale is a taxable supply. New residential construction is generally subject to HST at 13%. The Buyer is responsible for any HST on chattels if applicable., -

NEW CONDOMINIUM, STATUTORY RESCISSION PERIOD

If the Property is a new condominium unit purchased from a declarant/developer:

The Buyer has a ten (10) day statutory right to rescind this Agreement under section 73 of the *Condominium Act, 1998*.

The 10-day period begins on the latest of:

1. The date the Buyer receives a fully signed copy of this Agreement.

2. The date the Buyer receives the condominium disclosure statement and all required documents.

3. The date the Buyer receives the current Condominium Guide published by the Minister.

To rescind, the Buyer (or Buyer's solicitor) must deliver written notice of rescission to the Seller or the Seller's solicitor within the 10-day period. Upon valid rescission, the Seller shall promptly refund all money paid by the Buyer without penalty or interest deduction.

This rescission right does not apply to resale condominium units., -

CONDITIONS AND CONTINGENCIES

This Agreement is conditional upon the following (check all that apply and insert deadlines):

1. Financing Condition
The Buyer obtaining a mortgage commitment on terms satisfactory to the Buyer in the amount of $[[Mortgage Amount]] on or before [[Financing Condition Date (DD Month YYYY)]].

2. Inspection / Due Diligence Condition
The Buyer completing a satisfactory home inspection (or other due diligence) on or before [[Inspection Deadline Date]]. Buyer may terminate if inspection reveals material defects not acceptable to Buyer.

3. Sale of Buyer's Property Condition
The Buyer entering into an unconditional agreement to sell the Buyer's current property located at [[Buyer's Current Address]] on or before [[Sale Condition Date]].

4. Requisition / Title Condition
The Buyer's solicitor completing title search, survey review, and requisitions on or before the Requisition Date of [[Requisition Date (typically 10-20 days before closing)]].

5. Other Conditions: [[Describe any additional conditions e.g. condominium status certificate review, well/septic inspection, zoning confirmation]]

If any condition is not satisfied or waived by the stated deadline (time being of the essence), this Agreement shall be null and void and the deposit shall be returned to the Buyer., -

REQUISITION DATE, TITLE, AND SURVEY

Requisition Date: [[Requisition Date]]

On or before the Requisition Date, the Buyer's solicitor shall deliver written requisitions on title. The Seller shall answer requisitions in good time before closing and shall provide at the Seller's expense:

• A good and marketable title free from encumbrances except as permitted herein.
• A current survey or reference plan if available or required by the Buyer.
• Any existing status certificates (for condominiums).
• Keys, access devices, codes, and remote controls on closing.

The Seller shall discharge any existing mortgages or liens that are not assumed by the Buyer on or before closing., -

CLOSING, POSSESSION, AND ADJUSTMENTS

Closing Date: [[Closing Date (DD Month YYYY)]]

Possession: The Seller shall give vacant possession of the Property to the Buyer at [[Time e.g. 6:00 p.m.]] on the Closing Date, unless otherwise agreed.

Adjustments: The following items shall be adjusted as of the Closing Date on a per diem basis:

• Property taxes (based on the latest assessment)
• Common expenses / condominium fees (if applicable)
• Rents (if tenanted)
• Utilities (final meter readings arranged by Seller)
• Fuel oil or propane in tank
• Any other items customarily adjusted in Ontario residential transactions

The Buyer shall be responsible for land transfer tax, registration fees, and any HST on new construction (subject to any rebates the Buyer may claim)., -

DEFAULT AND REMEDIES

If the Buyer defaults and fails to complete, the Seller may:

1. Declare the deposit forfeited as liquidated damages (not a penalty) and pursue additional damages if the deposit is insufficient; or

2. Pursue specific performance or other remedies available at law or equity.

If the Seller defaults and fails to complete, the Buyer may:

1. Terminate and recover the deposit plus reasonable damages; or

2. Pursue specific performance.

Time is of the essence in all respects., -

REPRESENTATIONS, WARRANTIES AND DISCLOSURES

The Seller represents and warrants that:

• The Seller has the authority to sell the Property.
• The Seller is not aware of any material latent defects affecting the Property's safety, structural integrity, or habitability that have not been disclosed.
• All chattels and fixtures included are owned by the Seller free of liens.
• The Property is not subject to any outstanding work orders or notices of violation known to the Seller except as disclosed in writing.

The Buyer acknowledges having had the opportunity to inspect the Property and is purchasing in its present condition subject to the terms of this Agreement, except for any written warranties or representations made herein.

Additional required disclosures (as applicable): [[Flood risk, heritage designation, private well/septic, urea formaldehyde foam insulation, etc.]], -

SCHEDULES AND ADDENDA

The following schedules form part of this Agreement:

• Schedule A, List of Included Chattels and Fixtures
• Schedule B, List of Excluded Items
• [[Other schedules e.g. renovation allowance, rental equipment list]]

Any additional terms or conditions must be in writing and signed by both parties., -

SIGNATURES

BUYER SIGNATURE

__________________________________________
[[Buyer 1 Full Legal Name]]
Date: [[Date Signed]]

[[Buyer 2 Signature if applicable]]

SELLER SIGNATURE

__________________________________________
[[Seller 1 Full Legal Name]]
Date: [[Date Signed]]

[[Seller 2 Signature if applicable]]

WITNESS (optional but recommended)

__________________________________________
[[Witness Name]], -

SOLICITOR INFORMATION (FOR COMPLETION)

Buyer's Solicitor:
[[Buyer Solicitor Firm and Lawyer Name]]
[[Address]] Phone: [[Phone]]

Seller's Solicitor:
[[Seller Solicitor Firm and Lawyer Name]]
[[Address]] Phone: [[Phone]], -

DISCLAIMER AND SOURCES

> ⚠️ Template example, not professional legal advice. This document is modeled on the OREA Form 100 Agreement of Purchase and Sale but is not an official form. Parties should use current OREA or custom forms prepared or reviewed by their solicitors. Laws, standard practices, and forms change. Verify with a licensed Ontario real estate lawyer. Information current as of June 2026.

Key references:
- OREA Form 100 Agreement of Purchase and Sale (and Form 101 for condominiums)
- Condominium Act, 1998, s. 73 (10-day rescission)
- Land Transfer Tax Act and HST rules for new housing
- Real Estate and Business Brokers Act, 2002 (REBBA) disclosure obligations, -

End of Ontario Purchase Agreement template