Below is the  Offer To Purchase Real Estate Property Short Formtemplate body. If necessary, please put the personal information, company information, such as text to replace the specific content you need. you can download the .doc template file on the end of the article by click download link. 

OFFER TO PURCHASE



This Offer to Purchase Agreement (the Agreement) is effective [DATE],


BEWTEEN:   [FIRST PARTY NAME] (the Purchaser), a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at:

[YOUR COMPLETE ADDRESS]


AND:   [COMPANY/INDIVIDUAL NAME] (the Vendor), a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at OR an individual with his principal place of living located at:

[COMPLETE ADDRESS]


PREAMBLE

We, [YOUR COMPANY NAME], hereby offer to purchase from you, the Vendor, upon and subject to the terms and conditions herein, the following immoveable property:

[DESCRIBE PROPERTY] (hereinafter collectively referred to as the Property), as the said Property now subsists, including all equipment, furniture, tools and supplies used in the daily operation and administration of the Property, except to the extent not owned by Vendor.


PURCHASE PRICE

The total purchase price for the Property (the Purchase Price) shall be the sum of [AMOUNT IN LETTERS] Dollars ([AMOUNT]) allocated as to [AMOUNT IN LETTERS] Dollars ([AMOUNT]) for the Land and [AMOUNT IN LETTERS] ([AMOUNT]) for the buildings, and payable as follows:

The amount of [AMOUNT IN LETTERS] ([AMOUNT]) shall be paid by certified check or bank draft at Closing to Vendors [ATTORNEY/NOTARY/LEGAL REPRESENTATIVE] in trust, to be released to Vendor upon registration of the deed of sale without adverse entries;

The amount of [AMOUNT IN LETTERS] ([AMOUNT]) shall be paid by the assumption by the Purchaser of the obligations of the Vendor pursuant to the deed of loan and hypothec between the Vendor and the [LENDER NAME] signed on [DATE], and registered at the registry office for the registration division of [MUNICIPALITY], to the complete exoneration of the Vendor;

The amount of [AMOUNT IN LETTERS] ([AMOUNT]) shall be paid by the delivery by the Purchaser to the Vendor of a promissory note in such amount.






CLOSING

Subject as herein provided, a Deed of Sale giving effect hereto and containing the standard clauses, representations and warranties and hypothec securing the balance of price, shall be executed before Vendors [ATTORNEY/NOTARY/LEGAL REPRESENTATIVE] at his or her offices and the payment referred to above will be made (the Closing) on [NUMBER] day following the date of delivery by the Purchaser to the Vendor of the Certificate of Location contemplated hereof (the Closing Date) at [TIME], or at such other time and place as may be mutually agreed upon between us.


CONDITIONS PRECEDENT TO CLOSING

This Offer is made subject to the following conditions, each of which is of the essence hereof:

There are no leases, offers to lease, sub-leases or other similar agreements relating to the Property which are currently in force or may come into force prior to the Closing;

There are no hypothecs, charges or other encumbrances on the Property other than the hypothec referred to in subsection (b) hereinabove;

All service contracts, insurance policies, and other agreements relating to the Property which are currently in force or may come into force prior to the Closing may be cancelled on not more [NUMBER] days notice without penalty;

Within [NUMBER] days of Vendors acceptance hereof, Vendor will, at its expense, furnish Purchaser with copies of (i) an up-to-date Certificate of Location; (ii) all service contracts, insurance policies, and other agreements relating to the Property which are then in force or may come into force prior to the Closing; (iii) all correspondence, litigation, notices or other documents from any municipal or governmental authority in connection with the Property or work to be done thereon. Purchaser agrees to keep all such information confidential in the event the Closing does not take place.

Purchaser and its agents may, at any time prior to Closing, inspect or survey the Property and Vendor shall grant access to Purchaser and its agents for such purpose;

Purchasers legal counsel shall have [NUMBER] days from the date of delivery of the Certificate of Location to review same and to complete their search of title to the Property and to report to Purchaser thereon. If they or Purchaser are not satisfied with the results of such review and/or searches, Purchaser shall have the option to have any title defects so discovered corrected to its satisfaction and that of its counsel, at Vendors cost and expense, and deduct such cost from the payment of the purchase price hereof, or to cancel the transaction as set out below.

In the event that Purchaser is not satisfied with (i) its inspection of the Property, or (ii) its examination of the foregoing documents, or (iii) the results of the title searches, or (iv) if Purchaser should determine for any other reason not to proceed with the transaction contemplated herein, Purchaser shall give Vendor written notice to such effect at any time prior to Closing. Upon delivery of such notice, the deposit referred to in Section (a) above shall be returned to Purchaser with all interest earned thereon, the agreement resulting from Vendors acceptance hereof shall be terminated and, subject to the obligations of Purchaser concerning confidentiality set forth above, neither party shall be further obligated hereunder.

At the closing, [YOUR COMPANY NAME] shall have obtained from the Vendor an affidavit, acceptable to Purchasers legal counsel, acting reasonably, certifying that at the time of Closing, the Vendor is a resident of [COUNTRY] for the purposes of Income Tax.

REPRESENTATIONS AND WARRANTIES

The deed of sale will contain the standard representations and warranties, including without limitations those as to:

the Vendors title to the Property;

the Property being in compliance with all applicable municipal, [state/provincial] and federal legislation, regulations and ordinances;

the absence of any work orders, notices calling on the Vendor to perform any work on the Property, or litigation with respect to the Property;

the Vendors residence for federal and [state/provincial] income tax purposes;

that no brokers or other persons are entitled to receive any commissions or similar compensation in connection with this transaction.


RISK

The Property shall remain at Vendors risk until the Closing.  If more than [%] of the floor area of the Building(s) is damaged or destroyed, whether wholly or partially, prior to Closing, the [YOUR COMPANY NAME] shall have the option of terminating the agreement resulting from Vendors acceptance of this Offer, by notice to the Vendor, without further recourse, in which event the amount referred to in Section (a) above and all interest earned thereon shall forthwith be returned to [YOUR COMPANY NAME].

In the event that [PERCENTAGE % IN LETTERS] percent ([PERCENTAGE %]) or less of the floor area of the Building is so damaged or destroyed, Purchaser shall, subject to the terms and conditions hereof, proceed with the Closing and shall be entitled to all insurance proceeds payable as a result of such damage or destruction together with an amount equal to the deductible portion of all applicable policies of insurance.

In no event contemplated by this Section (Risk) shall [YOUR COMPANY NAME]have any recourse in damages against Vendor.


COSTS

[YOUR COMPANY NAME] shall pay the cost of municipal transfer tax on the transfer of the Property. The cost of the Deed of Sale, including, without limitation, all fees and disbursements of Vendors notary, registration thereof and authentic copies thereof for the Vendor and the [YOUR COMPANY NAME], shall be paid by Vendor. [YOUR COMPANY NAME] shall pay only the legal fees and disbursements of its own counsel.


OWNERSHIP, POSSESSION AND ADJUSTMENTS

[YOUR COMPANY NAME] shall become owner of the Property and be given vacant possession thereof at the time of Closing. All taxes and utilities shall be adjusted as of the date of the Closing. If at Closing there are any items in respect of which adjustments cannot be finally made until a later date, adjustments in respect of such items shall be made on an estimated basis at Closing and the parties shall exchange written undertakings at the Closing to adjust such items as soon as the requisite information becomes available.


ASSIGNMENT OF WARRANTIES

The Deed of Sale shall contain an assignment by Vendor to Purchaser of all assignable existing guarantees, warranties and indemnities respecting the Property or any part thereof, including without limitation, those respecting the condition or ownership of the wiring, heating, ventilating, air conditioning, electrical, plumbing and mechanical systems and equipment (including elevators).


PRIOR AGREEMENTS: LIMIT ON WARRANTIES

This Offer supersedes all previous agreements, negotiations, statements and undertakings between Vendor and Purchaser or their respective representatives or agents. Both parties accept and agree that in connection with the transaction contemplated hereby, neither party has made to the other party any warranties whatsoever other than those expressly set forth in the deed of sale.


NOTICES

Any notice given pursuant hereto shall be in writing and may be delivered by hand or sent by prepaid registered mail to Vendor or to Purchaser at the following addresses, respectively:

To Vendor:  

[COMPANY NAME]
[COMPLETE ADDRESS]
Attention: [NAME]

To Purchaser:    

[YOUR COMPANY NAME]
[YOUR COMPLETE ADDRESS]
Attention: [INDIVIDUAL NAME]

Such notices shall be deemed to have been received, if hand delivered, when so delivered and, if mailed, [NUMBER IN LETTERS] ([NUMBER]) business days after mailing as aforesaid. In the event of postal strike or other interruption, existing or threatened, all notices shall be hand delivered. Any party may give notice to the others changing the address as hereinabove set forth. Notice may be furnished by a party or by its legal counsel.


SUCCESSORS AND ASSIGNS

The agreement resulting from the acceptance of this Offer shall inure to the benefit of and be binding upon the parties hereto and their respective heirs, executors, successors and permitted assigns.


GOVERNING LAW

The agreement resulting from the acceptance of this Offer shall be governed by and shall be construed in accordance with the laws of the [State/Province] of [STATE/PROVINCE].






ACCEPTANCE

This Offer is open for acceptance up to but not after [HOUR], [CITY] time, on [DATE]. If you wish to accept, please return the enclosed copy to us, signed by you prior to such time. It is understood that this Offer will be deemed to have been refused unless you have delivered the enclosed copy duly signed as aforesaid, to us or to our representative, [INDIVIDUAL NAME], prior to such time.


IN WITNESS WHEREOF, each party to this agreement has caused it to be executed at [PLACE OF EXECUTION] on the date indicated above.


PURCHASER             VENDOR



                          
Authorized Signature          Authorized Signature


                          
Print Name and Title          Print Name and Title

click to download Offer To Purchase Real Estate Property Short Form template
                            

Other legal template form