Real Estate Purchase Form - Open Door Law - Legal Services In Vancouver, BC

Real Estate Purchase Form

Congratulations on your real estate purchase! Open Door Law Corporation’s legal counsel are experienced and ready to assist with your closing. Please complete our Real Estate Purchase Form as thoroughly as possible and our lawyer and/or paralegal team will contact you to discuss the transaction.

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If you would rather complete this form on paper, we also offer a PDF version that you can print, then mail or fax to us. (Details within)

Fields marked with * are required

Completion Date

Street Address of Property Being Purchased *

City *

Province *

Postal Code *

A. Purchaser(s) Information

How many purchasers are there?

Please use full legal names of all persons purchasing the property (do not use initials). Your names must be the same as your passport or driver's license. If the purchaser is a corporate entity or trust, please contact our office.

First Purchaser:

Mr.Mrs.Ms.Dr.

First Name *

Middle Name

Last Name *

Street Address *

City *

Province *

Postal Code

Date of Birth

Occupation *

Phone *

Email *

Pursuant to Law Society of British Columbia Rules, please provide details as to your source of funds as it relates to this financial transaction. (For example, if you are listing your employment as self-employed or providing just a title such as “manager”, “investor”, “advisor”, you will need to explain the economic activity (e.g. bank loan, savings from salary, settlement funds) or action that generated your source of money (e.g. inheritance, savings from salary, life insurance proceeds etc.), as well as a brief description of your business or employment activities (e.g. rental income, investment income, sale of goods and services etc.)

Citizenship

On the date of registration, are you a Canadian citizen or a permanent resident as defined in the Immigration and Refugee Protection Act (Canada)?
YesNo

Of what country are you a citizen?

Marital Status

SingleMarriedCommon Law

If you are married or in a common law relationship, and your spouse is not going on title, we may need to know the reason why to your lender. The lender may require your spouse to sign postponement agreement.

Spouse's full name

Second Purchaser:

Mr.Mrs.Ms.Dr.

First Name

Middle Name

Last Name

Street Address

City

Province

Postal Code

Date of Birth

Occupation

Phone

Citizenship

On the date of registration, are you a Canadian citizen or a permanent resident as defined in the Immigration and Refugee Protection Act (Canada)?
YesNo

Of what country are you a citizen?

Marital Status

SingleMarriedCommon Law

Spouse's full name

Third Purchaser:

Mr.Mrs.Ms.Dr.

First Name

Middle Name

Last Name

Street Address

City

Province

Postal Code

Date of Birth

Occupation

Phone

Citizenship

On the date of registration, are you a Canadian citizen or a permanent resident as defined in the Immigration and Refugee Protection Act (Canada)?
YesNo

Of what country are you a citizen?

Marital Status

SingleMarriedCommon Law

Spouse's full name

Property Information

This property is a: Condo/StrataHouse/Land

Is this new construction?
YesNo

New Construction

Goods and Services Tax (GST)

If this property is new construction, it is subject to GST. GST is payable by the Purchaser. We advise you to contact your accountant so that they can advise you of your rights and obligations under the GST legislation and the contract of purchase and sale. Your accountant will be able to advise and assist you in this regard.

Purchase date

Please confirm if the purchase price includes GST:
Yes, purchase price includes GSTNo, GST is payable in addition to the purchase price

Provided you, or a relation (as defined for purposes of section 254 of the Excise Tax Act) are acquiring the property for use as your primary place of residence and you (or a relation) will be the first individual to occupy the Property as a place of residence, you may be entitled to a GST Rebate.

The Vendor will collect from the purchaser on closing the GST payable to Canada Revenue Agency (CRA) in the amount as set out below, which GST will be credited to the Vendor on the Vendors Statement of Adjustments, unless advised by the Purchasers Solicitor/Notary that the Purchase is a GST registrant.

If the Purchaser is registered for GST purposes, the Purchaser may account directly to CRA for the GST, provided that the Purchaser delivers to the Vendor an executed Purchasers GST Certificate and satisfactory CRA GST Registry Search results for the Purchase prior to the Completion Date.

Will the property be your principal residence?
YesNo

Please provide your primary residence's address:

Primary Street Address *

City *

Province *

Postal Code *

Is this real estate purchase a revenue/investment property?
YesNo

B. Tenancy

Should there be more than one Purchaser, you have the option of being registered on title in one of two ways:

As Joint Tenants (right of survivorship): in the case of death of one of the joint tenants, the deceased interest in the property does not form part of their estate but is transmitted to the surviving joint tenant(s).
As Tenants in Common: in the case of death of one of the Tenants in Common, the deceased interest in the property forms part of their estate and will be dealt with in accordance with their will or intestacy.

Based on the foregoing, please indicate the appropriate tenancy:
Joint TenantsTenants in Common

Please skip to the next section. This section is not applicable to you.

C. Property Transfer Tax

Property Transfer Tax is imposed by the provincial government. The tax is based on the fair market value of the property, calculated at 1% on the first $200,000 and 2% on the portion of the fair market value greater than $200,000 and up to and including $2,000,000, and 3% on the portion greater than $2,000,000. You may be eligible for an exemption from this tax under the First Time Home Buyers program.

For more information on property tax exemptions, please visit the Government of British Columbia's website.

How many of the purchasers are first time buyers and eligible for the First Time Home Buyer Exemption?

First Purchaser (if first time buyer):

First Name

Middle Name

Last Name

Address(es) for the past two years:

Length of time

Second Purchaser (if first time buyer):

First Name

Middle Name

Last Name

Address(es) for the past two years:

Length of time

Third Purchaser (if first time buyer):

First Name

Middle Name

Last Name

Address(es) for the past two years:

Length of time

D. Property Insurance

Insurance Agent Name

Insurance Company Name

Phone

Please skip to the next section. This section is not applicable to you.

E. Realtor Information

Realtor Name

Real Estate Company Name

Phone

Kindly contact your realtor and request that their office forward a complete copy of your Contract of Purchase and Sale together with the conveyance instructions to our office.

F. Mortgage Financing

Are you obtaining mortgage financing? YesNo

Name of Financial Institution

Name of Mortgage Broker/Banker

Phone

Kindly contact your broker/banker to ensure your mortgage instructions are forwarded to our office at least ten (10) business days prior to your completion date.

G. Guarantor Information

Does your mortgage require a guarantor? YesNo

How many guarantors do you have?

Please use full legal names of all persons guaranteeing the mortgage (do NOT use initials).

First Guarantor:

First Name

Middle Name

Last Name

Street Address

City

Province

Postal Code

Relationship to the Purchaser

Home Phone

Work Phone

Mobile Phone

Second Guarantor:

First Name

Middle Name

Last Name

Street Address

City

Province

Postal Code

Relationship to the Purchaser

Home Phone

Work Phone

Mobile Phone

Third Guarantor:

First Name

Middle Name

Last Name

Street Address

City

Province

Postal Code

Relationship to the Purchaser

Home Phone

Work Phone

Mobile Phone

As our office will be acting on your (the purchaser) behalf, as well as on behalf of your bank (the mortgagee), the guarantor(s) must obtain independent legal advice. Kindly provide the name of the Solicitor who will be representing the guarantor(s).

Guarantor solicitor

Should the Guarantor(s) not have the name of such a lawyer, we can arrange the names of a few local lawyers to assist.

Additional Comments (if any):

Required Consent and Agreement *
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Print this form

A. Purchaser(s) Information

First Purchaser:

Second Purchaser:

Third Purchaser:

Property Information

New Construction

Goods and Services Tax (GST)

B. Tenancy

C. Property Transfer Tax

First Purchaser (if first time buyer):

Second Purchaser (if first time buyer):

Third Purchaser (if first time buyer):

D. Property Insurance

E. Realtor Information

F. Mortgage Financing

G. Guarantor Information

First Guarantor:

Second Guarantor:

Third Guarantor:

Open Door Law Corporation

P: 604-689-3667
F: 604-689-5843
E: info@opendoorlaw.com

Contact Us

Print this form

A. Purchaser(s) Information

First Purchaser:

Second Purchaser:

Third Purchaser:

Property Information

New Construction

Goods and Services Tax (GST)

B. Tenancy

C. Property Transfer Tax

First Purchaser (if first time buyer):

Second Purchaser (if first time buyer):

Third Purchaser (if first time buyer):

D. Property Insurance

E. Realtor Information

F. Mortgage Financing

G. Guarantor Information

First Guarantor:

Second Guarantor:

Third Guarantor:

Open Door Law Corporation

P: 604-689-3667 F: 604-689-5843 E: info@opendoorlaw.com

Contact Us

P: 604-689-3667
F: 604-689-5843
E: info@opendoorlaw.com