Co-op Assignment Deal

Step 1: Documents Required

a) Client information related:

  • ID's for each Buyer (Optional)
  • Buyer Representation Agreement - Authority for Purchase or Lease -Form 300
  • Working With Realtor - 1 Page Faxable
  • FINTRAC Individual Identification Information Record - Form OREA 630

b) Offer information related:

  • Offer Summary - Form 801
  • Confirmation of Co-operation - Form 320

  • Assignment of Agreement of Purchase and Sale:

    • Condominium Sal - Form 150
    • Freehold Sale- Form 145

  • Registrant's Disclosure of Interest Acquisition of Property - Form 160 (if applicable)

  • MLS Listing Broker Full (Unless Exclusive Listing)
  • Schedule B from Listing Brokerage
  • Offer Summary - Form 801
  • Confirmation of Co-operation - Form 320

  • Assignment of Agreement of Purchase and Sale:

    • Condominium Sale - Form 150
    • Freehold Sale- Form 145

  • Registrant's Disclosure of Interest Acquisition of Property - Form 160 (if applicable)

  • Schedule B from Listing Brokerage

Step 3: Sold Conditional- Submit to Office (within 24 Hours)

a) Client information related:

  • ID's for each Buyer (Optional)
  • Buyer Representation Agreement - Authority for Purchase or Lease -Form 300
  • Working With Realtor - 1 Page Faxable
  • FINTRAC Individual Identification Information Record - Form OREA 630

b) Offer information related:

  • Confirmation of Co-operation - Form 320

  • Assignment of Agreement of Purchase and Sale:

    • Condominium Sale - Form 150
    • Freehold Sale- Form 145

  • Registrant's Disclosure of Interest Acquisition of Property - Form 160 (if applicable)

  • Schedule B from Listing Brokerage
  • Copy of Deposit Receipt
  • Copy of Deposit Chq/Money Order
  • FINTRAC - Receipt of Funds Record - Form OREA 635
  • Mutual Release - Form 122 (If Deal Fell Through)

Step 4: Deal Firm- Submit to Office (within 24 Hours)

  • Waiver -Form 123 / Notice of Fulfillment -Form 124 (removing conditions)(if applicable)
  • Amendment - Form 120 (removing conditions, or adding offer content change)(if applicable)
  • Buyer Lawyer Lawyer Contact info: Name, Tel, Fax,Email
  • Seller Lawyer Lawyer Contact info: Name, Tel, Fax,Email
  • Trade Record Sheet to be Reviewed & Signed
  • Builder Consent Letter (Assignment Agreement)
  • Once Cheque Received from Listing Brokerage you will be paid (Approx. 2-3 weeks: 10-12 business day for Listing brokerage sending cheque to Cooperating brokerage; 5-7 business day to issue cheque for agent)