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AGREEMENT OF PURCHASE AND SALE

Once you have found the house of your dreams, you will enter into an agreement of purchase and sale. Unfortunately, many people tend to forget that they are signing a contract. Once you sign it, you have to live with it, including any less than favourable terms. Therefore, it is a good idea to have your lawyer review it before you sign. The agreement should include and properly describe the list of chattels you are buying (e.g., appliances, blinds), an escape clause in the event your current home does not sell and a condition that the purchase is dependent on a satisfactory home inspection.

This information is a brief summary for information purposes only and is applicable only in the Province of Ontario. It is not intended to be legal advice. Full and complete legal advice can only be given by a lawyer who has detailed information about your individual circumstances.