Wondering what the home buying process will actually look like? Well, there’s a lot of paperwork involved! Most people have never seen the legal documents involved in a real estate transaction, outside of the few times they may have bought a home in the past. I believe that education is key to a successful purchase, so to help you grow in understanding and get the edge over the competition, I’ve placed the commonly used forms – many of them in plain English – here for you to preview. If you’re buying a home, together we’ll fill out and sign the following forms:
• Buyer Representation Agreement (pdf)
This form sets out the parties to the Agreement between the buyers and the Realtor, explaining the scope of the representation and any compensation agreed upon.
• Working With a Realtor (pdf)
This form outlines the services provided by the Realtor to the buyer, and includes some different scenarios commonly encountered with respect to agency relationships.
• Fintrac (pdf)
This form asks the buyer to provide personal identification to fulfill legal requirements, when a transaction takes place.
When you submit an offer to buy a home, these are the forms we’ll need to fill out and sign:
• Agreement of Purchase and Sale (pdf)
A comprehensive document describing the particulars of a real estate transaction, setting out the parties involved and stipulating the terms and conditions of the sale.
• Confirmation of Co-operation (pdf)
This form outlines the arrangement between the two real estate companies and the extent of their cooperation with one another for the purpose of ensuring the clients are treated fairly during the transaction.
• Notice of Fulfillment of Condition (pdf) – if your offer is conditional
This form notifies the parties to a transaction that conditions have been satisfied, so a deal can proceed towards closing.
Please remember that these forms, which are designed by the Ontario Real Estate Association, do change slightly over time – new versions are usually released at least annually in compliance with new legislation. If you have any questions about what the forms mean in plain English, please let me know!