Ontario Agreement of Purchase and Sale (OREA Form 100)

An Agreement of Purchase and Sale (APS) sets out the terms of a real estate purchase in Ontario. It identifies the property, price, deposit, closing date and any conditions that must be addressed before the transaction becomes firm. Once an offer is properly accepted and acceptance is communicated, the agreement creates legal obligations for both the buyer and seller, subject to its terms.

OREA Form 100 is commonly used in Ontario for resale freehold homes, such as detached, semi-detached, and freehold townhouses. OREA Form 101 is commonly used for condo apartments and condo townhouses. Understanding the completed form, including every attached schedule, helps you see what you are agreeing to before you sign.

This guide provides general information about Ontario resale agreements. Have an Ontario real estate lawyer review the terms and any proposed waivers.

OREA stands for the Ontario Real Estate Association. It publishes standard forms used by Ontario real estate professionals, including members of the Toronto Regional Real Estate Board (TRREB).

The property's ownership structure matters more than its appearance: a townhouse may be freehold or condominium. New homes purchased from builders usually involve builder agreements and additional documents. A condo resale form should not be treated as a substitute for a pre-construction agreement.

Use this annotated section map to find the main terms in your agreement. It follows the six-page Revised 2024 layout. Your version may have different page breaks or additional schedules, so follow the clause headings in the agreement you actually sign.

Source: OREA Form 100 Revised 2024

Use the full legal names of all buyers and sellers. Check the street address and legal description, and have your lawyer confirm ownership and signing authority. If someone signs for an estate, company or another person, their authority needs to be verified. Ask whether spousal consent is required.

The purchase price is the agreed amount for the property. The deposit is an advance payment credited toward that price on closing; it is not an extra charge or the same thing as the total down payment.

For example, on an $800,000 purchase with a $160,000 down payment, a $40,000 deposit would normally leave $120,000 of the down payment to provide on closing, plus closing costs and adjustments. The mortgage would fund the remaining $640,000.

Specify the deposit amount, recipient, payment method and delivery deadline. There is no single deposit percentage required for every Ontario resale purchase. The standard Form 100 wording defines a deposit due upon acceptance as payable within 24 hours, unless the agreement provides otherwise. Arrange access to the money before making the offer.

Not paying the deposit does not automatically cancel an accepted agreement. It can put the buyer in breach. Missing a deposit has consequences.

The irrevocability section records how long the offer is to remain open. Check the exact date, time and a.m. or p.m. designation. Do not assume you can withdraw an outstanding offer during that period; get legal advice before attempting to do so.

The completion date is the agreed closing date. Choose it with your lawyer and lender so funds, documents and possession can be arranged. A closing period of 60 or 90 days is common.

Chattels are movable items, such as a freestanding refrigerator. Fixtures are attached to the property, such as a built-in light fixture. List the items that matter instead of relying on assumptions or the listing description. Identify appliances by make or model where useful, and expressly exclude any fixture the seller will remove.

If the seller promises to leave an appliance in working order, complete repairs or replace an excluded fixture, put the promise and deadline in the agreement.

Identify rented or leased items, including water heaters, furnaces, air conditioners and solar equipment. Request the actual contracts and check payments, remaining terms, transfer rules and buyout costs. State whether the buyer will assume a contract, if transferable, or whether the seller must pay it out.

Give your lawyer enough time before the title search or requisition deadline to investigate the property and raise appropriate objections. It is not a promise that every possible title issue will be fixed by that date.

Read Schedule A and every other attachment. Ask for conflicting terms to be resolved before signing, and put negotiated conditions, repairs and other commitments in writing.

Both types of accepted agreements are legally binding.

A mortgage preapproval does not guarantee funding for a particular property. The lender may still need to approve the appraisal, property and supporting documents. A low appraisal can leave you needing more cash than expected.

If you waive financing and cannot close, you may lose your deposit and face a claim for additional losses. Before waiving, confirm the lender's outstanding requirements and whether you can cover any funding gap.

Giving up an inspection condition means giving up that contractual protection. You may discover expensive defects after committing to the purchase. A pre-offer inspection can provide information, but it does not guarantee the property's condition or create a cancellation right.

A home inspection also does not automatically require the seller to fix everything it identifies. Repairs or a price change need agreement from both parties.

Fulfilment confirms that a condition has been met. Waiver gives up the protection where the agreement permits it. Follow the clause's notice, signature and delivery requirements before the deadline.

Conditions should explain what must happen, whose approval is required, the deadline, how notice must be delivered and what happens to the agreement and deposit if the condition is not met. Act in good faith and make the efforts the agreement requires. The following are topics to discuss with your lawyer or agent.

Allow time to obtain satisfactory financing for the specific purchase. Ask the lender to confirm the loan amount, appraisal requirements, down payment documentation and any outstanding conditions. Don’t treat a rate hold or preapproval as final approval.

Allow access for a qualified inspector and time to review the report. Consider whether the property also needs specialist checks, such as a well, septic system or structural assessment. The contract should describe what happens if the results are unsatisfactory. A visual inspection cannot identify every hidden defect.

Allow time to obtain the status certificate and supporting documents and have your lawyer review them. Focus on unit arrears, condo fees, special assessments, reserve funds, litigation, insurance and restrictions that could affect your plans.

Ontario condo corporations generally have 10 days after receiving the request and payment to provide the certificate and may charge up to $100. Build in time for delivery and legal review.

Specify which property must sell, by when, and whether its sale must become firm or actually close. If you need the proceeds to fund the purchase, check that both closing dates and any bridge financing work together. Selling your home and receiving the money are different milestones.

Consider a condition allowing you to confirm that suitable property insurance is available on acceptable terms and at an affordable premium. Obtain a home insurance quote early, particularly where the property's condition, location, prior claims or intended use could affect coverage. Ask your lender about its insurance requirements.

A lawyer review condition can provide time for legal review after acceptance, if the other party agrees to it. Define its scope and deadline clearly. Hiring a lawyer after signing does not, by itself, create a right to cancel; arranging review before submitting an offer can avoid that problem.

A negotiated escape clause may allow the seller to continue marketing the property and trigger a deadline for the first buyer to remove specified conditions. The clause must say how this works. Receiving a better offer does not, on its own, let the seller disregard an accepted agreement.

A properly handled condition may entitle the buyer to a refund. A buyer who defaults on a firm agreement may instead lose the deposit and face additional claims.

If ownership of the deposit is disputed, RECO says a brokerage can release it under a mutual consent or release signed by the buyer and seller, or under a court order. A request from one party does not settle the dispute. Your lawyer can address the contractual entitlement and the documents needed for release.

If there is no brokerage deposit holder, agree on the arrangement with your lawyer. A lawyer's trust account is different from a brokerage trust account. Do not assume RECO insurance applies to every person holding a deposit.

RECO specifically states that its consumer deposit coverage does not apply to deposits paid to a builder or transferred to a builder's lawyer in accordance with the purchase agreement. New-home deposit protections by Tarion apply separately.

The HST clause addresses whether applicable sales tax is included in the price or payable on top. Get the tax treatment confirmed before signing, especially for new construction, assignments, commercial property or mixed-use buildings.

Sales of previously occupied residential homes are generally exempt from HST. Exceptions can arise from the property's use or the seller's activities. HST still applies to services such as legal work and real estate commissions even when the home itself is exempt.

New or substantially renovated homes sold by a builder are subject to Ontario's 13% HST. There are federal and Ontario first-time home buyer rebates available.

These amounts do not mean every first-time buyer receives $130,000. The rebate depends on the tax paid, price, eligibility and interaction with existing rebates.

For a qualifying purchase from a builder, the federal program generally requires an agreement entered into on or after March 20, 2025, and before 2031, construction to begin before 2031, and substantial completion before 2036. Personal eligibility includes age, citizenship or permanent residence, occupancy and prior-home-ownership tests. The first-time buyer test considers the current calendar year and the previous four calendar years, including relevant ownership by a spouse or common-law partner.

Ontario's temporary enhanced new housing rebate also covers eligible buyers who are not first-time buyers. For qualifying house-and-land purchases from a builder, the agreement generally must be signed from April 1, 2026, through March 31, 2027. Combined provincial relief can reach $80,000 through the $1.5 million price level, then declines below $1.85 million. Construction, completion, tax-payment and occupancy deadlines also apply.

An eligible buyer may also qualify for the Ontario new home affordability payment of up to $50,000, reduced by applicable federal housing rebates.

Ask whether the price includes HST, whether it is quoted net of rebates, which rebates are credited by the builder and who bears the cost if a claim is denied. Under the ordinary federal GST/HST new housing rebate, qualifying purchases of $350,000 or less may receive up to $6,300. The rebate is gradually reduced for purchases above $350,000 and is fully phased out at $450,000.

Your lawyer should confirm which rebates apply, how the builder has accounted for them in the purchase price, and the amount you will actually need at closing.

You can buy or sell a home privately, but you are responsible for protecting your interests if you are not a client of a real estate brokerage. Retain your own lawyer early to help prepare or review the agreement, identify suitable conditions and arrange the deposit and closing.

If the other party has an agent, that agent represents their client's interests. They cannot give you advice as though you were their client. Before providing permitted assistance, they must explain RECO's information and disclosure form for self-represented parties.

Be careful about sharing your maximum budget, minimum acceptable price or reasons for moving; information you disclose may be passed to the agent's client. Ask who is authorized to receive formal notices, and use your lawyer to check delivery requirements. You can choose to engage your own brokerage, but doing so does not undo an agreement you have already signed.

• Names: All buyers and sellers are correctly identified, and signing authority is confirmed.
• Property: The address, legal description and any condo parking or locker details match what you intend to buy.
• Price: You understand the purchase price, tax wording and available funds for closing costs.
• Deposit: The amount, holder, payment method and deadline are clear, and the funds are accessible.
• Dates: Offer expiry, condition deadlines, title search, closing and possession dates work together.
• Inclusions: Appliances and other agreed items are identified, including any promised condition or repairs.
• Rentals: You have reviewed the contracts, costs and any transfer or buyout requirement.
• Conditions: Each protection you need is included, with realistic deadlines and clear notice instructions.
• Signatures: All necessary signatures, initials, changes and schedules are complete; you have the final accepted copy.

• Exclusions: Identify fixtures you will remove and any agreed replacements.
• Warranties: Understand every promise about condition, repairs, use, equipment or other matters. Do not sign statements you cannot support.
• Offer expiry: Check whether acceptance can be properly completed and communicated before the deadline.
• Conditions: Understand the buyer's exit rights, your own obligations and any escape clause.
• Deposit: Confirm the holder, amount and deadline, then verify that it has been received.
• Authority: Confirm the required owners, authorized signatories and any spousal consent.
• Closing obligations: Plan for agreed repairs, included items, mortgage discharges, rental payouts, adjustments and the promised possession arrangements.

Use these checklists to review the completed contract with your lawyer or agent. They do not replace the wording of the agreement.

Signing and acceptance are different stages. Once the offer has been properly accepted, changing your mind is generally not enough to cancel. A valid condition, another contractual or legal right, or a negotiated release may allow the transaction to end. Leaving a firm agreement without a legal basis can put the deposit at risk and expose the buyer to additional damages. Get legal advice before refusing to close.

There is generally no automatic cooling-off period for a typical Ontario resale home purchase. Do not assume the rules for a newly built condo purchased from a developer apply to a resale house or condo. Review the offer before committing, or negotiate an appropriate condition.

A rejected offer does not create an accepted purchase agreement. The seller may reject it, let it expire or propose a counteroffer. A counteroffer needs acceptance; it is not an acceptance of the original terms. If you delivered a deposit with an offer that was not accepted, arrange its return with the deposit holder and confirm the paperwork required.

Yes. Offering the asking price, or more, does not guarantee acceptance. The seller can consider the closing date, deposit, conditions and other terms as well as price.

If a valid financing condition is still in effect, the agreement may let you end the purchase if you comply with the clause and its deadlines. If there is no financing condition, or you already waived or fulfilled it, a later financing problem does not automatically cancel the purchase. Contact your lender and lawyer immediately; do not assume an extension will be granted.

You may be entitled to a refund if the agreement ends under a valid condition and its requirements have been followed. The wording, notice and circumstances matter. If the parties dispute entitlement, the brokerage does not decide who is right: release requires the appropriate signed consent or release, or a court order.

Yes, if the parties agree to the change and properly document it. Common amendments change the closing date, price, repair obligations or condition deadlines. Identify the original agreement and the exact change, obtain the required signatures, and provide the amendment to the lawyers and lender where relevant. Asking for an amendment does not suspend an existing deadline. Have an extension completed before the deadline it is intended to change.

OREA forms are copyrighted and distributed under OREA's licensing terms. Obtain an authorized current form through your real estate professional or lawyer, and check the applicable usage terms. A sample or educational diagram may omit schedules or contain older wording. A privately prepared agreement can also be used, but it should be drafted or reviewed for your transaction.