CONTRACT CLAUSES
Explore key BC real estate clauses used in CPS contracts. protect your clients, stay compliant, and write stronger offers with confidence.
*ALWAYS CONSULT WITH MANAGING BROKER OR LAWYER. THIS IS NOT LEGAL ADVICE
INSPECTIONS
BUYER / SELLER CLAUSES
SELLER CLAUSES
ADD TO ALL CONTRACTS - BUYER AND SELLER - FUTURE PROPOSED AMENDMENTS
Buyer and seller hereby agree that any future proposed amendment is not intended to be a counter-offer or a repudiation of the Contract. The unilateral execution of any Addendum by either the Sellers or the Buyers shall not constitute a counter-offer and shall have no effect on the underlying Contract until executed by both the Sellers and the Buyers. A proposed amendment shall only become effective if and when the addendum is fully executed by both the sellers and the buyers. Upon such execution, the sellers and buyers ratify and confirm that all other covenants, terms, and conditions of the contract remain unchanged, except as amended by the proposed amendment, and that time shall remain of the essence. The sellers and buyers specifically confirm that a fully signed addendum shall be considered executed under seal.
ADD TO ALL AMENDMENTS AFTER ACCEPTANCE
The Proposed Amendment is not intended to be a counter-offer or a repudiation of the Agreement and is prepared on a without prejudice basis. Unilateral execution of this Amendment by either the Seller or Purchaser hereto shall not constitute a counter-offer and shall not, until executed by the Seller and the Purchaser, have any effect on the underlying Agreement. The Proposed Amendment will be effective if and when this Amendment is executed by the Seller and Purchaser. Upon such execution, the Seller and the Purchaser thereby ratify and confirm that all other covenants, terms and conditions of the Agreement remain the same, save as amended by this said Proposed Amendment, and that time shall remain of the essence.
TEAM ADDENDUM
In accordance with the section 5-54 of the BC Real Estate Council rules, the Seller(s) and the Buyer(s) acknowledge that the seller(s) buyer(s) have a designated agency relationship with The Vancouver Island Real Estate Group which includes the following agents:
Jeff Meyer *PREC, Cara Akerman, Ben McCulloch, Chris Peereboom *PREC & Brian Niles
BUYER CLAUSES
STANDARD OFFER BUYER TERMS
Reproduction: The parties agree that reproduction of signatures/initials by fax, e-mail or by e-signature will be treated as originals.
Ttitle Charges: The seller / listing agent agrees to provide at their expense, a copy of ALL non financial charges, Legal Notations, on title to the buyer / buyer’s agent within 3 business days of an accepted offer.
Access: The seller(s) agree to allow the buyer access to the home up to 3 times after subject removal prior to completion (with min 24 hour notice) for the purpose of having inspections, bank appraisals if necessary and taking measurements. The seller(s) grant buyer(s) permission to take photo/video while at the property.
Deposit: The Buyer & Seller agree that the deposit due date, if the buyer is paying by wire transfer, shall be changed to 5 business days after the date that the proof of wire transfer, is dated, as long that proof is dated on or before the initial
deposit due date.
Cleaning: The seller agrees to leave the property in a professionally cleaned condition, including inside of appliances, cabinets and cupboards & interior windows, prior to closing at the sellers expense.
E-Signing: The parties agree that reproduction of signatures/initials by fax, e-mail or by e-signature will be treated as originals.
Refuse Containers: The Seller will leave behind any containers provided by the local authority for recycling and compost waste.
RAW LAND PURCHASE
FEASIBILITY STUDY: Subject to the Buyer, satisfying themselves on all aspects of the property by way of a self conducted feasibility study as to the usage of the property for the desired needs of the buyer(s), in their sole discretion, including but not limited to: building envelope, building restrictions, building permits, rental restrictions, lot size, lot dimensions, encroachments on or by the property, building square footage, potential subdivision, zoning, , building/property inspection, perk testing, septic tests, oil tank scans, well/water testing, land surveys, building site planning, bylaws, building envelope, building restrictions, building permits, bylaw contraventions, finished square footage, restrictive covenants, right of ways, charges on title, local improvement levies/charges, required connections, maximum buildable square footage, parking, storage, subdivision potential, hydro connections, allowable use, toxic or environmental hazards, obtain all city, municipal, regional, district, and/ or health authority documentation and information on the property, and any provincial or federal taxes or legislation that may apply, on or before March 3rd, 2025. This condition is for the sole benefit of the Buyer.
STRATA DUPLEX PURCHASE
The Buyer is aware that the administration of the affairs of the Strata duplex, of which the property is one part, does not comply with the Strata Properties Act and in particular, that the Strata duplex owners do not collect a monthly assessment, maintain a contingency reserve fund, or prepare financial statements for the Strata Corporation. The buyer is aware that the standard strata bylaws apply.
INSPECTIONS
General Inspections: The buyer reserves the right to conduct inspections that they deem relevant (at their sole discretion) Inspections may include but are not limited to :Home/Building Inspection – Perimeter Drain Scope – Conducting WETT Inspections For Wood-Burning Fireplaces Or Stoves – Well Water Component Inspection – Well Water Potability / Bacteria Coliform And Heavy Metals / Mineral Test – Septic Inspection – Performing Buried Oil Tank Scans (Preferably Using Ground-Penetrating Radar) – Obtaining Confirmation From Municipal Authorities / Fire Department Regarding The Potential Existence Of A Buried Oil Tank.
SEPTIC
Subject to the Buyer, at the Buyer's expense, receiving and being satisfied with a report from a Septic Inspector/Technician concerning the operational function and condition of the components of the sewage system and compliance with the Sewerage system Regulation on or before _______________________ The seller is responsible for the pump out charge which includes the disposal of waste and to have lids exposed. On the day of the inspection seller will provide access to the home in order to test flows from all plumbing fixture to confirm their arrival at the septic tank. In the event a pump out is not required for inspection, the seller agrees to at the seller’s expense to have the tank pumped within 14 days prior to completion and agrees to provide the buyer(s) with a copy of the paid receipt as proof. The seller (s) agrees within 3 business days to complete and sign owner’s declaration and authorization form, provide permission to work on the property, provide usage information, provide any documentation regading the septic system that may be on file with local health authority, and provide the seller’s billing information to the septic company for pump out charge. This condition is for the sole benefit of the Buyer.
WELL AND WATER TESTING
Well / Well Pump Testing: Subject to the buyer at the Buyer's expense, receiving and being satisfied with a report from a Well Inspector / Technician concerning the operational function and condition of the components of the well water system on or before _______________________. This condition is for the sole benefit of the Buyer.
Well Water Testing: Subject to the buyer at the Buyer's expense, receiving and being satisfied with a favourable result from a water testing laboratory as to the potability of the well water on or before________________________. This condition is for the sole benefit of the Buyer.
CPS ADDENDUM I
THE UNDERSIGNED HEREBY AGREE AS FOLLOWS:
CPS ADDENDUM I
THE UNDERSIGNED HEREBY AGREE AS FOLLOWS: