Buying a home in Alberta can be a daunting experience. I'm here to make it easy for you. Here are the most common forms you'll encounter when buying or selling a home in Alberta
| Form | Purpose |
|---|---|
| Purchase Contract / Offer to Purchase | The main document that outlines the terms and conditions of the sale, including price, closing date, deposit amount and any conditions. When writing an offer, the offer will be written on the Purchase Contract. Until it is accepted by the Seller, it remains just an Offer to Purchase. Once it's signed by all parties, it now forms the official Purchase Contract. |
| Exclusive Listing Agreement | For sellers, this agreement gives a real estate broker the authorization to list the house for sale. It outlines your asking price, the length of your contract, the commission payable to your listing brokerage, and the commission that will be payable to the brokerage who purchases your home. |
| Exclusive Buyer Representation Agreement | An agreement between a prospective home Buyer and a real estate brokerage that grants the brokerage the exclusive right to represent the buyer in the purchase of a property. It outlines the duties and responsibilities of both parties as well as the commission payable on a successful purchase. |
| Consumer Relationships Guide | Explains the different types of working relationships between consumers and real estate professionals, including the legal duties and obligations that a real estate agent owes a client. It also outlines the Customer relationship, where less obligations are owed by the real estate agent. |
| Real Property Report (RPR) | Illustrates the location of visible improvements relative to property boundaries, often required by buyers to ensure no encroachments. |
| Certificate of Compliance | Confirms the property meets local land use bylaws, issued by municipalities based on the Real Property Report. Will often include a stamp or Seal of Compliance by the Municipality. |
| Title | The legal document that shows the true ownership of the property. This must accompany a purchase or sale to confirm the Seller has the right to sell the home. This can be purchased online for $10. |
| FINTRAC Forms | Required for compliance with the Financial Transactions and Reports Analysis Centre of Canada, these forms help prevent money laundering by verifying client identity and the nature of the transaction. Your signatures are not required, and it is a record your REALTOR® will complete and submit on your behalf. The most common forms you'd encounter are: Individual Identification Information Record The Receipt of Funds Politically Exposed Person/Head of International Organization Checklist/Record |
I live in Cochrane, Alberta and help clients buy and sell homes in Cochrane, Calgary, Airdrie, Chestermere and anywhere in Rocky View County. If you have questions about the home buying process, reach out to me anytime! Click HERE, and let's get started.
For access to the most up-to-date database of homes for sale in Alberta, click HERE.