The parties acknowledge that the Assignor is selling the subject property based on the Assignor's contractual rights under an Agreement of Purchase and Sale with the Builder (Name Builder) and Assignor warrants that all deposits have been paid, together with all obligations satisfied, in according with the terms with the builder up to the present time, there being no money owning for any extras or upgrades ordered.
This agreement is conditional for a period of five days from acceptance upon the Assignee confirming by written waiver to the Assignor or Assignor's agent (within such give days) that the terms of this agreement have been approved by the lawyer for the Assignee. Should such waiver not be delivered, this agreement will be null and void and the deposit returned to the Assignee forthwith without interest or deduction.
THIS OFFER IS CONDITIONAL for seven (7) business days following acceptance of this offer upon the Buyer or his Agent being able to arrange satisfactory financing, otherwise this offer shall become null and void and the deposit money shall be returned to the Buyer in full without interest or deduction. This condition is included for the benefit of the Buyer and may be waived at his sole option
The Assignor shall provide a full copy of the Builders Agreement to the Assignee within Two (2) business days following acceptance of this offer.
THIS OFFER IS CONDITIONAL upon the approval of terms hereof and approval of the terms and conditions of the Builders Agreement by the Buyer's solicitor. Unless the Buyer gives notice in writing delivered to the Seller within seven (7) business days following acceptance of this offer, that this condition is fulfilled, this offer shall be null and void and the deposit shall be returned to the Buyer in full without interest. This condition is included for the sole benefit of the Buyer and may be waived at his option by notice in writing to the Seller within the time period stated herein.
The closing date of ________________________, 2013, refers to the date for completion of this assignment from the Assignor to the Assignee and on such date, the Assignee will pay to the Assignor's solicitor in trust a certified cheque as a further deposit of ______________ to be released to the Assignor upon the completion of the assignment consented to by the Builder. The Balance of the proceeds due to the Assignor will be paid to the Assigner's lawyer in trust by certified cheque upon final closing with the builder.
On the assignment completion date, Assignee and Assignee's lawyer will provide a written undertaking to the Assignor not to complete the purchase with the builder unless such certified cheque for the balance due to t Assignors is first delivered (on the final closing day with the builder) to the Assignor's lawyer to be held in escrow pending written fax confirmation that the purchase from the builder has been completed.
On or before the completion date of the assignment, the Assignor will provide:
1. Pre-delivery inspection documents including Tarion warranty certificate, and any deficiency list
2. Disclosure documentation including draft condominium documents and sketch for layout of the unit
3. Any keys, access security cards or remote controls
4. any written notices to or from the builder since the original agreement with the builder was signed
5. Undertaking that no money is owned for extras or upgrades, that all deposits have been paid as required by the builder's agreement and that copies of any amendments or written notices which might affect the builder's agreement have been provided to Assignee.
Upon completion date of the assignment, the Assignee will provide:
1. If applicable, a series of post dated cheques and any other items to satisfy occupancy.
2. A personal undertaking to the Assignor to provide a copy of the final statement of adjustments (upon final purchase closing of the condominium) to the Assignor's solicitor and to provide a certified cheque to the Assignor delivered to the Assignor's solicitor for the appropriate portion of interest credited in the final closing adjustments which reasonably applies to the deposits held by the builder prior to the assignment completion date.
The Assignor warrants that they are current will all payments and obligations to the Developer and agrees to transfer the Assignor's rights, title and interest in the Developer's Agreement to the Assignee for the consideration herein:
The Assignee understand that the monthly interim occupancy fee shall not exceed $_____ per month to the builder, Assignor agrees to pay any difference between the time of occupancy and final closing date with the builder.
The Assignee will pay all final closing costs and adjustments to the Builder on final closing.
Assignor agrees and acknowledges that commission shall be payable at time of assignment closing.