Alberta Condominium Purchase & Sale Agreement Package
Land developers can sell units in a condominium project which is still under construction with this Alberta Purchase & Sale Agreement Package for New Condominium.
- The sale transaction will be finalized at a specified future date after construction of the condominium project is complete.
- The purchase price for the condo unit includes a parking stall.
- All prepaid deposits will be held in trust until the sale closes.
- The purchaser acknowledges reviewing the construction plans for the condo unit and giving approval.
- Prior to possession, the purchaser and the vendor will do a joint inspection of the condo unit to check for deficiencies in construction that need to be remedied. No holdback is allowed for deficiencies.
- Final closing cannot take place until the condominium plan has been registered with the Land Titles Office, however, the purchaser can take early possession as a licensee of the vendor.
The package contains the following:
- Offer to Purchase and Agreement of Purchase & Sale,
- Schedule re Manager's Residence,
- Schedule re Alberta New Home Warranty Program,
- Restrictive Covenant re Parking Units,
- Addenda re Financing and Financing (CMHC), and a Waiver of CMHC Financing,
- Addendum re GST,
- Addenda re Additional Parking Stall, Storage, and Customization.
See how easy writing real estate paperwork can be - buy and download the Purchase & Sale Agreement Package for your sales office.
Last Updated: 11-June-2016