Get your OREA Form 101, Agreement of Purchase and Sale - Condominium Resale in 3 easy steps
01 Fill and edit template
02 Sign it online
03 Export or print immediately
What Is OREA 101 Form?
Agreement of Purchase and Sale Condominium Resale Form is a 5-page document developed by the Ontario Real Estate Association in 2010 for use in the Province of Ontario. It confirms and provides the details on the purchase of a unit in a condominium property.
What Do I Need OREA Form 101 For?
You need to fill out an OREA Form 101 fillable blank to:
- ensure a unit in a condominium property and ownership/exclusive use of parking space and lockers are provided to a buyer by a seller at a certain purchase price;
- guarantee that a buyer will deliver a payable check on the stated sum to a seller within 24 hours after the acceptance of this Agreement;
- determine other payable terms.
How to Fill Out OREA Form 101?
Step 1: Click the “Fill this form” button to get an OREA Form 101 Condominium Resale fillable template and complete it online.
Step 2: Provide the date, buyer’s and seller’s legal names, property/parking space/lockers details, and purchase price in dollars on page 1.
Step 3: The lower part of page 1 requires the date the offer will be irrevocable by, completion date, and fax numbers of both parties.
Step 4: Fill out box 5 with the data on the fixtures included. Section 6 is for rented items.
Step 5: Section 7 specifies common expenses payable to the Condominium Corporation in respect of the property, and section 8 includes parking/lockers extra expenditures.
Step 6: Section 9 states Harmonized State Tax if the sale of real estate property is subject to it.
Step 7: Page 4 is for signatures, stamps, and contact details of a buyer, a seller, their witnesses, lawyers, brokerages, a property manager, and spouses (since spousal consent is required).
Step 8: Page 5 comprises Schedule A attached to the form. Indicate the buyer’s and seller’s names, state the property, and put the current date there.
Step 9: The form should be initialed by both parties on each page to become valid.
Step 10: Click the “Done” button to download a printable PDF on your PC.
Organizations That Work With OREA Form 101
Ontario Real Estate Association
Relevant to OREA Form 101 Documents
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