The Ontario Real Estate Association can best fulfil its responsibility and role in organized real estate by ensuring that all persons engaged in real estate brokerage business, either as brokers or salespersons, have an opportunity to be properly trained and well informed, and thereby better serve the public in a professional manner. To this end, this series of clauses is provided to complement the growing list of educational programs, reference materials, standard forms, and video instruction available to the general membership.
General Disclaimer and Caution to User:
The Ontario Real Estate Association has developed these clauses for the use of its members in drafting Agreements of Purchase and Sale. The clauses which are contained herein are provided solely for the purpose of guidance and do not in any way constitute required wording.
TAKE NOTE THAT EVERY REAL ESTATE TRANSACTION IS UNIQUE AND THE ONTARIO REAL ESTATE ASSOCIATION DOES NOT WARRANT AND IS NOT RESPONSIBLE IN ANY WAY FOR THE ADEQUACY, SUFFICIENCY, APPLICABILITY, ACCURACY OR SUITABILITY OF ANY OF THE CLAUSES OR PROVISIONS HEREINAFTER SET OUT. FURTHER, THE ONTARIO REAL ESTATE ASSOCIATION ASSUMES NO LIABILITY FOR THE UTILIZATION OF ANY OF THE CLAUSES OR PROVISIONS HEREINAFTER SET OUT.
The real estate professional is encouraged to seek expert advice in the drafting of agreements.
IMPORTANT INSTRUCTIONS TO USERS:
- Typed Supersedes Printed: Any clauses added to the body of the Offer will supersede any information in the pre-printed form. Care must, therefore, be taken with any inclusions.
- Conditions versus Warranties/Representations: The decision to utilize a condition, warranty, or other representation will depend largely on circumstances. The vast majority of clauses are presented in "condition" format, however, various warranty examples have been included. The reader should note that most warranties included in the handbook are made "to the best knowledge and belief", survive the closing, and do not extend beyond completion of the transaction. Many variations exist in the marketplace and caution is advised when using warranties and representations. A limited number of such clauses has been included for information purposes only.
- Alternative Wordings: In select instances, alternative wordings are provided for the same general topic area (i.e. road access to a recreational property might address rights-of-way, unregistered easements, public road access, privately maintained road, etc.). Users should carefully read all possibilities and revise as required to meet individual circumstances.
- Capitalized Words: The first letter of selected words has been capitalized for emphasis only (i.e. Buyer, Seller, Agreement of Purchase and Sale, Lease) and should not be viewed as a required format.
- Use of Pronouns: This text should be read with all changes of gender and number as the reader may feel are required.