Agreement of Purchase and Sale Ontario
Usually our clients will have entered into an agreement on a printed form prepared by either Law Booth, the other lawyer or more common, through their realtors.
Apparently, because it is printed, most people sign the form before consulting a lawyer and, in many cases, without even reading it. The purchase or sale of a home is the biggest transaction most people ever enter into, yet an amazing number blindly sign the agreement without ever calling on their lawyer for advice. Then they appear in their lawyer’s offices asking them to solve problems arising out of that very agreement. These agreements are almost always prepared by real estate agents who, while trained and often expert in their own field, have little training or expertise in the complicated world of drafting legal documents.
For cases where we are given an opportunity to advise on such an agreement before signing, or where we are called upon to draft such a standard form agreement, we look to the latest form of the Ontario Real Estate Association (“OREA”) agreement of purchase and sale.
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