Alberta Sellers and Buyers · Offer Stage

How to read a real estate purchase agreement.
Every section explained, so nothing gets missed before you sign.

This guide covers the Alberta residential purchase contract section by section. BC and Ontario use equivalent agreements with different names. The structure and key terms are similar across all three provinces.

What should you look for when reading a purchase agreement?

When reviewing a purchase agreement, focus on five things: the purchase price and what it includes, the deposit amount and deadline, all conditions and their expiry dates, the completion and possession dates, and which items are included or excluded from the sale. Every other section is either standard provincial language or administrative detail. Missing or misreading any of the five key areas can affect your legal position after the contract is signed.

At a Glance

The structure of a purchase agreement.

Alberta’s residential purchase contract is organized into 18 numbered sections. The five sections that require the most attention are highlighted below. The rest are standard provincial terms that apply automatically.

01 Section 1

Property details: address, legal description, and included items.

Section 1 identifies the property being sold. It includes the municipal address and the legal land description, which can be found on your land title document. The legal description is not the street address. It is the formal identifier used in the land registry and must be accurate.

Sections 1.1(b) and 1.1(c) are the most important parts of Section 1. They define which items are included in the sale and which are being taken by the seller.

Disputes about what was supposed to stay or go are among the most common post-closing conflicts. List every item explicitly. Vague entries create ambiguity. Ambiguity becomes a dispute.

02 Section 2

Purchase price and completion date.

Section 2.1 states the purchase price inclusive of GST. Confirm the number matches what was agreed. Errors in the price field, though rare, have occurred and are difficult to correct after signatures.

Section 2.3 is the completion day, also called the possession date or closing date. This is the date the buyer takes legal possession of the property and the date your lawyer registers the transfer. Confirm this date is realistic. If you need time to arrange your own move, negotiate a possession date that gives you enough time. A date that is too tight creates pressure on both your move and your lawyer’s closing process.

Section 2.4 confirms that the property will be in the same condition on completion day as it was when the contract was accepted. This includes all attached and unattached goods being in normal working order.

03 Section 4

Deposit: amount, method, and deadline.

Section 4.3 specifies the deposit amount, the method of payment, and the date by which the buyer must deliver it. The most common payment method is certified funds, though wire transfers and bank drafts are also used.

The deposit deadline is one of the most important dates in the contract. If a buyer fails to deliver the deposit by the specified date, the seller has grounds to cancel the deal and potentially accept another offer. Track this date closely.

Section 4.2 identifies who holds the deposit as trustee. This is typically the listing brokerage but can be the buyer’s brokerage or a lawyer. Whoever is named in 4.2 holds the funds until conditions are removed and the sale is firm.

04 Inclusions and Exclusions

What stays and what goes.

The general rule in Alberta real estate is that anything attached to the property stays unless specifically excluded in writing. Anything not attached leaves with the seller unless specifically included in writing. This rule sounds straightforward. In practice, it creates disputes constantly.

Light fixtures, window coverings, garage door openers, TV wall mounts, and built-in speaker systems are the most commonly contested items. If you plan to take something or if a buyer expects something to remain, it must be named explicitly in the contract. Verbal agreements made during showings are not binding. See the full guide on what stays and what goes when selling your home.

05 Section 8

Conditions: financing, inspection, and sale of buyer’s property.

Section 8 is where conditions are listed. A condition is a requirement that must be satisfied before the sale becomes firm. The contract pre-fills the three most common buyer conditions. Each has a deadline by which it must be met or waived.

Section 8.2(d) allows the buyer to add custom conditions. Section 8.3 allows seller conditions. The most common seller condition is a backup offer clause: acceptance of this offer is subject to the collapse of offer number one. This protects you from being bound to two buyers at once.

06 Section 7

Dower Rights.

Section 7 is one of the most commonly missed sections in an Alberta purchase agreement. If only one spouse is on title and you are legally married, Dower Rights apply. A spouse who is not on title has a legal interest in the matrimonial home and must consent to its sale. The property cannot transfer without this consent.

If Dower applies, you must fill in a date at Section 7.1(b). This date commits you to delivering a signed Dower Consent and Acknowledgment form to the buyer or their representative by that date. Bōde asks about Dower during the listing process and provides the form if required. The non-owner spouse also signs in the Acceptance section at the back of the contract.

Dower is an Alberta-specific legal concept. BC and Ontario do not have equivalent legislation. In those provinces, both spouses must be on title or consent is handled differently under family property law.

07 Sections 17 and 18

Offer expiry and acceptance.

Section 17 contains the offer expiry date and time. If the seller does not accept the offer before this deadline, the offer is null and void. Buyers set this date strategically. A short expiry creates urgency. A longer expiry gives you time to review and potentially receive competing offers.

Section 18 is the acceptance section. If you want to accept, this section must be completed and signed before the Section 17 expiry. If you want to counter, you complete a counter-offer rather than signing here. If you reject the offer outright, the rejection section is available but rarely used in practice.

One critical rule in Section 15: the contract stands on its own. Everything must be in writing. If you and the buyer agreed to something verbally during negotiations, it is not binding unless it appears in the signed contract or a written amendment. Do not rely on anything that is not on the page.

08 Other Provinces

BC and Ontario use equivalent agreements.

The structure and key terms of a residential purchase agreement are similar across all three provinces where Bōde operates. The document names and some provisions differ.

In BC, buyers have three clear business days after acceptance to rescind the contract under the Home Buyer Rescission Period. Read the full guide to the BC cooling-off period.

Bōde’s offer process is fully digital. Every section of the purchase agreement is populated and signed online.

Common Questions

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