Clause By Clause Review

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Today we would like to continue on the Agreement of Purchase and Sale. This post will be about Clause By Clause Review. The last post, was about the first page of the agreement, so today we are going to explain the second page.

Clause 3. Notices: In this section, all parties can see the Email Address and the fax number of the salespersons.

Clause 4. Chattels Included: Be specific. Include identifying characteristics such as name, model, or serial number.

Clause 5. Fixtures Excluded: In addition, there is a part for fixtures. Salespersons should be specified in this part.

Clause 6. Rental Items: Seller should be specific about this part because they should provide the list of them and full details to the buyer.

Additionally, Clause 7. HST has two parts. 1)HST Included in or 2)HST In Addition To which is based on the property/business that you wish to buy it.

At the bottom of page two, there are spots to initial for buyers and sellers. It means they understand and agree with each part. On page three, there is a clause, Title search. Each salesperson should put a date for that. on the other hand, a title search should be after all conditions. This is a time period for the lawyer to start the search on the agreement. All these sections are the salesperson’s job, to make sure his/her client is on the safe side. So, if you need our help, please reply!

These definitions are the simple Clause By Clause Review. Our team is here to help our clients to understand better about their deals. Also, we are working with a high range of sellers and investors.

THE BEST CHOICE

HIGHLY CONFIDENTIAL SALE Call Babak Mehrabi Commercial agent

https://www.reco.on.ca/

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