New Construction
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DEVELOPMENT CONSTRUCTION (DEV)
DEV - 01 Conditional Upon Suitability for Roads/Servicing
DEV - 02 Home Under Construction
DEV - 03 Intention of Buyer to Develop
DEV - 04 Ontario New Home Warranty Program
DEV - 05 Price Based Upon Acreage
DEV - 06 Conditional Upon Re-zoning/Minor Variance
DEV - 07 Conditional Upon Right-of-Way Permission
DEV - 08 Right to Access Property for Preliminary Work
DEV - 09 Conditional Upon Services - Hydro/Telephone
DEV - 10 Conditional Upon Severance - Seller Undertakes Expense and Completion
DEV - 11 Partial Discharge Privilege on Seller Take Back Charge/Mortgage
DEV - 01 Conditional Upon Suitability for Roads/Servicing
This Offer is conditional upon the Buyer determining, at the Buyer’s own expense, the cost of constructing roads, installing necessary services, and generally ascertaining if the terrain will permit development at a reasonable price. Unless the Buyer gives notice in writing delivered to the Seller not later than ____ p.m. on the _____ day of _________, 20____, that this condition is fulfilled, this Offer shall become null and void and the deposit shall be returned to the Buyer in full without deduction. This condition is included for the benefit of the Buyer and may be waived at the Buyer’s sole option by notice in writing to the Seller within the time period stated herein.
DEV - 02 Home Under Construction
The Seller agrees to complete the house, the (itemize any other structures), and grounds in a good and workmanlike manner, in accordance with all the specifications outlined in Schedule “_____” attached hereto and forming part of this Agreement of Purchase and Sale.
DEV - 03 Intention of Buyer to Develop
The Seller acknowledges that it is the intention of the Buyer to develop and/or renovate and resell the property.
DEV - 04 Ontario New Home Warranty Program
The Seller represents and warrants, to the best of the Seller’s knowledge and belief, that the said home and its builder are both registered under the Ontario New Home Warranty Program. The Parties agree that this representation and warranty shall form an integral part of this Agreement and survive the completion of this transaction, but apply only to the state of the property existing at completion of this transaction. Documents attesting to these registrations are attached as Schedule “_____” and form part of this Agreement of Purchase and Sale.
DEV - 05 Price Based Upon Acreage
The Seller acknowledges that the Buyer is acquiring the property for development, and the purchase price is calculated on the basis of _________________________ ($______________) per acre. In the event of a discrepancy in area, the purchase price will be adjusted accordingly at time of completion.
NOTE: Survey or other acceptable confirmation of exact acreage is required.
DEV - 06 Conditional Upon Re-zoning/Minor Variance
This Offer is conditional upon the [Buyer/Seller] obtaining at the [Buyer’s/Seller’s] expense, a [rezoning/minor variance], to allow for [specify exact variance/use] for said property. Both Buyer and Seller agree to proceed in a diligent manner to acquire the [re-zoning/minor variance]. Unless the [Buyer/Seller] gives notice in writing delivered to the [Seller/Buyer] not later than ____ p.m. on the _______ day of ____________, 20___, that this condition is fulfilled, this Offer shall become null and void and the deposit shall be returned to the Buyer in full without deduction.
NOTE: If the Buyer wishes to retain the right to purchase the property, even though the rezoning or minor variance is not approved, then a “Waiver” should be included.
DEV - 07 Conditional Upon Right-of-Way Permission
This Offer is conditional upon the Buyer obtaining an Agreement to create an easement with (name of persons), for the purpose of (insert specific use), located and more particularly described as (outline planned location). Unless the Buyer gives notice in writing delivered to the Seller not later than ____ p.m. on the _______ day of _______, 20____, that this condition is fulfilled, this Offer shall become null and void and the deposit shall be returned to the Buyer in full without deduction. This condition is included for the benefit of the Buyer and may be waived at the Buyer’s sole option by notice in writing to the Seller within the time period stated herein.
DEV - 08 Right To Access Property for Preliminary Work
The Seller agrees to grant the Buyer and the Buyer’s authorized agent the right to enter the property for the purpose of surveying and conducting soil tests prior to the completion of this transaction. Such permission does not extend to any alteration of the lands, servicing work, removal of trees, soil, or any other activity which would alter the current state of the property.
DEV - 09 Conditional Upon Services - Hydro/Telephone
This Offer is conditional upon the Buyer determining, at the Buyer’s own expense, that the provision of service by hydro and telephone to the said property shall not exceed a cost of ___________________ ($______________). Unless the Buyer gives notice in writing delivered to the Seller not later than ____ p.m. on the _____ day of ___________, 20___, that this condition is fulfilled, this Offer shall become null and void and the deposit shall be returned to the Buyer in full without deduction. This condition is included for the benefit of the Buyer and may be waived at the Buyer’s sole option by notice in writing to the Seller within the time period stated herein.
DEV - 10 Conditional Upon Severance - Seller Undertakes Expense and Completion
This Offer is conditional upon the Buyer obtaining, at the Seller’s expense, a consent to sever the property as follows: (provide description of proposed severance). Unless the Buyer gives notice in writing delivered to the Seller not later than ____ p.m. on the _____ day of _____________, 20____, that this condition is fulfilled, this Offer shall become null and void and the deposit shall be returned to the Buyer in full without deduction. This condition is included for the benefit of the Buyer and may be waived at the Buyer’s sole option by notice in writing to the Seller within the time period stated herein.
The Seller understands and acknowledges that the Seller shall be responsible for satisfying any conditions imposed, and if such conditions give the Seller options in the manner of compliance, the Buyer shall determine which option will be selected. The Seller shall obtain a reference plan prepared by an Ontario Land Surveyor suitable for registration purposes in the Land Registry Office in which the said property is located.
NOTE: Additional wording may be inserted concerning the extension of the completion date if the severance is not completed and limits of cost relating to obtaining said severance.
NOTE: If only part of the property is being purchased, the waiver provision must be deleted as this clause becomes a true Condition Precedent.
DEV - 11 Partial Discharge Privilege on Seller Take Back Charge/Mortgage
The Charge/Mortgage shall contain a clause permitting partial discharges of individual [lots, acres] on payment of the sum of __________________________________________ ($________________) on account of principal, plus accrued interest to the date of payment, for each [lot, acre] to be discharged.