Prince Edward Island Real Estate Purchase and Sale Agreement

Buy and sell real estate property in Prince Edward Island with this Offer to Purchase / Agreement of Purchase and Sale of Real Property.

Responsibilities of Parties

The vendor (seller) is responsible for paying out and discharging any existing financial encumbrances on title to the property which are not being assumed by the purchaser.
The purchaser is responsible for paying the costs of arranging new mortgage financing (if applicable) and the costs of conveyance of the title.

Key Conditions of the Agreement

The buildings and property remain at the risk of the vendor until the closing, after which the purchaser assumes the risk.
The vendor makes certain warranties and representations about the property (e.g. residential use only, Canadian residency, etc.).
Once signed, the offer becomes a binding contract between the parties.

Format and Jurisdiction

This legal document template is available as a fully editable MS Word form. It is intended for use solely in the Province of Prince Edward Island, Canada.

Document Type:

Microsoft Word