The Board of Directors has agreed to make the Commission's real estate forms accessible to consumers. These secure PDF versions of the forms are available for consumer information only, not for trading in real estate, therefore the forms, with the exception of service agreements, have watermarks. By being able to review the forms, consumers will benefit by being more informed about the process of buying/selling property. Unwatermarked versions of the forms are approved by the Nova Scotia Real Estate Commission for use by licensees under the Nova Scotia Real Estate Trading Act.
The Commission has two versions of mandatory forms. One version is accessible to mombers of Nova Scotia Association of REALTORS® (NSAR) and one version is for non-members. The non-member version contain the same information as member forms, with the exclusion of the REALTOR® trademark and clauses referring to the MLS® services.
Form 100 is a disclosure document only and does not impose any contractual obligations. Form 100 has a glossary of real estate terms and explains the two types of agency practiced in Nova Scotia (common law vs. designated agency) and the differences between being a customer, a client or agreeing to transaction brokerage. Licensees are required to have consumers sign this form to acknowledge that they have reviewed and understand the various relationships that may exist.
Form 110 is used when a seller is in a client relationship with a brokerage/designated agent, but the buyer does not have licensee representation. This form is a disclosure document and does not impose any contractual obligations. By signing Form 110, a buyer acknowledges that they are in a customer relationship, therefore they do not have an agency relationship with the brokerage or any of its representatives and are not owed any agency obligations, including fiduciary duties.
Form 112 is used for a seller to acknowledge that they are a customer, do not have an agency relationship with the brokerage or any of its representatives and therefore are not owed any agency obligations, including fiduciary duties. Unlike the Buyer Customer Acknowledgement¸ this form does have contractual obligations as it includes a clause on how the brokerage will be paid. This form is used when a seller customer is selling their property privately and a brokerage has a buyer client who is interested in purchasing the property. In the event the seller is not paying the buyer’s brokerage remuneration, the agreement would be altered by striking and initialing the appropriate remuneration clauses.
Form 200 establishes the agency relationship between a seller client and a common law brokerage. Clauses include, but are not limited to, each party’s obligations, HST, use of information, holdover period, and commencement and expiry dates for the relationship. To enter into a common law agency relationship, the Commission requires licensees to obtain a signed brokerage agreement.
Form 201 establishes the agency relationship between a seller client and a brokerage via a designated agent. Clauses include, but are not limited to, each party’s obligations, HST, use of information, holdover period, and commencement and expiry dates for the relationship. To enter into a designated agency relationship, the Commission requires licensees to obtain a signed brokerage agreement.
Form 203 is a limited service agreement between a seller and brokerage. In a mere posting, there is no agency relationship between the parties. The brokerage agrees to input and maintain data on the property on the MLS® system, and the seller is selling their property privately without assistance or advice from the brokerage. There are certain conditions in the agreement that require the seller to provide limited information to the brokerage for the purpose of posting the information to the MLS® system. In a Mere Posting Service Agreement, the brokerage is paid by the seller at the time of listing.
Form 210 is used if there is any financed/leased/rented equipment located on the property. The schedule outlines if the equipment will be assumed by the buyer, paid out by the seller or removed by the seller.
It is best practice for the seller to complete the schedule at the time of listing as an attachment to an SBA/SDBA so that Form 210 will be available to licensees for their potential buyers to attach to an offer. If it is not completed by the seller at the time of listing, it must be advertised that financed/leased/rented equipment exists on the property, and a buyer can request Form 210 in the APS as a condition to their offer.
Form 211 is an optional disclosure statement that a seller can fill out, to the best of their knowledge, addressing the state of the property. A seller can complete this form at the time of listing as an attachment to an SBA/SDBA, and is responsible for updating the PDS, as required. A buyer can request the seller complete a PDS as a condition to their offer. Sellers should discuss completing a PDS with their licensee and lawyer.
Form 212 is an optional disclosure statement that a seller can fill out, to the best of their knowledge addressing the state of the vacant land property. A seller can complete this form at the time of listing as an attachment to an SBA/SDBA, and is responsible for updating the PDS, as required. A buyer can request the seller complete a PDS as a condition to their offer. Sellers should discuss completing a PDS with their licensee and lawyer. Form 212 differs slightly from the Form 211 PDS as it is specific to vacant land.
Form 220 is used to make changes to an effective SBA, SDBA, BBA, or BDBA, including, but not limited to the expiry date, list price, or other conditions. This form is for situations when there is an agency relationship between a buyer or a seller and brokerage. If there is no agency relationship between the seller and the brokerage, form 222 would be used.
Form 221 is used when the buyer/seller and their brokerage mutually agree to either terminate the SBA, SDBA, BBA, or BDBA, or to temporarily discontinue (withdraw) the services outlined in the brokerage agreement/designated brokerage agreement. Prior to signing, the buyer/seller should be very clear which option they are agreeing to. If there is no agency relationship between the seller and the brokerage, Form 224 would be used.
Form 222 is used to make changes to an effective Seller Customer Acknowledgement & Fee Agreement (Form 112) or a Mere Posting Service Agreement (Form 203) including the expiry date, list price, or other conditions. This form is for situations when there is no agency relationship. If there is an agency relationship between the seller and the brokerage, form 220 would be used.
Form 223 is used to transfer a seller/buyer representation agreement to a different brokerage when the client’s licensee is transferring to a different brokerage. Transferring a client requires the consent of the client, transferring broker, and receiving broker. Agreements can be assigned only from a common law brokerage to another common law brokerage or from a designated agency brokerage to another designated agency brokerage. If the transferring brokerage and the receiving brokerage do not practice the same agency model, the original brokerage agreement must be terminated and a new brokerage agreement at the different brokerage with the appropriate agency model would need to be signed.
Form 224 is used when the seller and their brokerage mutually agree to either terminate, or to temporarily discontinue (withdraw) the services outlined in the Seller Customer Acknowledgement & Fee Agreement or a Mere Posting Service Agreement. Prior to signing, the seller should be very clear which option they are agreeing to. If there is an agency relationship between the seller and the brokerage, Form 221 would be used.
Form 300 establishes the agency relationship between a buyer client and a common law brokerage. Clauses include, but are not limited to, each party’s obligations, remuneration, use of information, and commencement and expiry dates for the relationship. To enter into a common law agency relationship, the Commission requires licensees to obtain a signed brokerage agreement.
Form 301 establishes the agency relationship between a buyer client and a brokerage via a designated agent. Clauses include, but are not limited to, each party’s obligations, remuneration, use of information, and commencement and expiry dates for the relationship. To enter into a designated agency relationship, the Commission requires licensees to obtain a signed brokerage agreement.
Form 400 is an offer on a property from the buyer to the seller, to which the seller can choose to accept, reject, counter, or not respond. If the seller accepts the buyer’s offer, the Agreement of Purchase and Sale (APS) becomes the purchase contract for the property. Clauses include, but are not limited to, deposit, closing date, obligations of both parties (inspections, financing, restrictive covenants), HST, fixtures, chattels, lawyer review, property migration, and title investigation. Additional applicable schedules may be attached to the APS.
Form 402 is attached to the offer (APS) to add clauses specific to resale condos that are not captured in the standard APS. Clauses include, but are not limited to, additional unit information, documentation, conveyance, damage, adjustments and representations.
Form 403 is an offer on a new construction property from the buyer to the seller, to which the seller can choose to accept, reject, counter, or not respond. If the seller accepts the buyer’s offer, the Agreement of Purchase and Sale for New Construction becomes the purchase contract for the property. Form 403 is different from the standard APS (Form 400) because it has clauses specific to new construction, including, but not limited to change orders, delays, warranty, holdbacks, and lot grading. Additional schedules may be attached to Form 403.
Form 404 is attached to the offer (APS) to add clauses specific to the purchase of vacant land. Clauses include, but are not limited to, final municipal lot approval, municipal services available, building permit, and zoning approval.
Form 405 is attached to the Agreement of Purchase and Sale for New Construction. This form is used when a buyer qualifies for a rebate on HST per federal government requirements. Qualifying properties must have a purchase price of $517,500 or less. The formula used to determine the rebate is taken from the Income Tax Act.
Form 406 is attached to the offer (APS) to add clauses specific to the purchase of mini/mobile homes. Clauses include, but are not limited to, providing documentation, confirming lot rental, and approval by park management to be a tenant and for the mini/mobile home to remain on the lot.
Form 407 is attached to the offer (APS) to add clauses specific to the purchase of a multi-unit residential income property. Clauses include, but are not limited to, zoning letter, current rent rolls, and notice to quit.
Form 408 is the notice of satisfaction that the buyer must provide to the seller or the seller’s agent on or before their condition deadline as written confirmation that they have satisfied their list of buyer’s conditions. Form 408 is only for specific clauses in the Agreement of Purchase and Sale (and/or applicable attached schedules) that require notice of satisfaction. Form 408 is not required for the standard wording of the lawyer review, title investigation, estoppel certificate, or sale of buyer’s property conditions.
Form 410 is a seller’s offer in response to a buyer’s offer (APS, Form 400 or 403). A counter offer is considered a new offer from a seller and can be proposed at any time, even after the ‘open for acceptance date’ in the buyer’s offer. This form allows the seller to propose new or change existing terms from the buyer’s APS, such as price, fixtures or chattels, or other conditions. Once completed and signed by the seller, and relayed to the buyer, the counter offer form and the attached buyer’s APS becomes the sellers offer to the buyer. Once relayed, it is irrevocable until the ‘open for acceptance’ date. The buyer can choose to accept, reject, or not respond. If the buyer accepts the seller’s counter offer, the counter offer and the APS form the purchase contract for the property.
Form 411 is used if a brokerage and two or more existing clients (either a buyer and a seller or two or more buyers) of the brokerage agree to enter into a transaction brokerage relationship due to a conflict of interest. In an agency relationship, a brokerage is legally obligated to promote their client’s best interests. A conflict of interest, real or perceived, would be a brokerage representing a buyer and a seller client in the same transaction, or two or more buyer clients represented by the same brokerage who are interested in the same property. Under transaction brokerage, a brokerage cannot promote the best interests of multiple clients if their interests are in conflict. In such cases, a conflict or perceived conflict arises because the brokerage cannot owe the same fiduciary duties to two or more clients with opposing interests.
Neither the clients, nor the brokerage are obligated to enter into transaction brokerage, and first must be provided with an opportunity to obtain independent advice. One party may be referred to another brokerage so both are represented in agency relationships, or one party may agree to be treated as a customer and receive no agency representation.
To enter into transaction brokerage, the two or more clients and the brokerage must agree, in writing, prior to preparing an offer (APS), to limit the services provided by the brokerage from that of an agency relationship to that of an impartial facilitator. See Form 100 for more information on all of these options. The standard form identifies a seller client and a buyer client so would have to be altered for situations with two or more buyer clients. Form 411 is for brokerages that practice common law. Form 412 is for brokerages that practice designated agency.
Form 412 is used if a designated agent and two or more existing clients (either a buyer and a seller or two or more buyers) of the designated agent agree to enter into a transaction brokerage relationship due to a conflict of interest. In an agency relationship, a designated agent is legally obligated to promote their client’s best interests. A conflict of interest, real or perceived, would be a designated agent representing a buyer and a seller client in the same transaction, or two or more buyer clients represented by the same designated agent who are interested in the same property. Under transaction brokerage, a designated agent cannot promote the best interests of multiple clients if their interests are in conflict. In such cases, a conflict or perceived conflict arises because the designated agent cannot owe the same fiduciary duties to two or more clients with opposing interests.
Neither the clients, nor the designated agent are obligated to enter into transaction brokerage, and first must be provided with an opportunity to obtain independent advice. One party may be referred to another brokerage or designated agent so both are represented in agency relationships, or one party may agree to be treated as a customer and receive no agency representation.
To enter into transaction brokerage, the two or more clients, and the designated agent must agree, in writing, prior to preparing an offer (APS), to limit the services provided by the designated agent from that of an agency relationship to that of an impartial facilitator. See Form 100 for more information on all of these options. The standard form identifies a seller client and a buyer client so would have to be altered for situations with two or more buyer clients. Form 412 is for brokerages that practice designated agency. Form 411 is for brokerages that practice common law.
Form 420 is a blank form that is used to add or modify conditions from another form. The modified form is most commonly an offer(APS), a counter offer, or an amendment.
Form 421 is used by either a buyer or seller, to propose an amendment to the terms of an accepted APS to the other party. The receiving party may accept, reject, or not respond to the amendment. If an amendment is rejected or receives no response prior to the deadline of the amendment, the original terms of the APS remain in effect. If accepted, those terms will come into effect and replace the original terms of the APS.
Form 430A is a schedule attached to an offer (APS) when a buyer wants to make the sale of their current property a condition of their purchase. This may be used when a buyer does not want the financial responsibility of two (or more) properties. Depending on how the transaction proceeds, the parties agree to the subsequent use of other required forms (430B or 430C) and documents pertaining to the SOBP condition.
Form 430B is used by a seller to give notice to the buyer that they (the seller) have accepted a back-up offer for the property. Once relayed by the seller’s licensee to the buyer/buyer’s licensee, the buyer must respond to the seller before the deadline specified in Form 430A. The buyer will respond indicating that they will either
If a buyer agrees to remove the SOBP condition to proceed with the purchase of the property, the buyer must provide written confirmation from their financial institution of their ability to finance the purchase without the sale of their existing property.
Form 430C is used by a buyer to give notice to the seller that they (the buyer)are removing the SOBP condition, and
This form can be used in response to Form 430B or alternatively, per the Agreement, can be provided by the buyer at any time to remove the SOBP condition.
Form 431 is attached to an offer (APS) to add clauses specific to the water and septic systems on a property. Clauses include, but are not limited to, the obligations of a buyer and seller, reports, certificates, inspections, and proof that the septic tank has been pumped out.
Form 440 is used to initiate a termination of an agreement by a party at liberty to do so as per the terms of the original Agreement. This form may also be used to facilitate the release of the deposit held by a brokerage, if applicable.
Form 441 is an acknowledgment form between a buyer and their licensee, whereby the buyer acknowledges that if after being advised of the possible repercussions of not using a real estate brokerage’s trust account, which has specific protections per the NSREC By-law, they choose to proceed with submitting a deposit to a party other than a brokerage. (Examples: directly to a seller, a lawyer’s trust account, etc.)
Form 442 is used as an amendment to an Agreement of Purchase and Sale for New Construction to make any additions, deletions, or changes to the materials and/or labour, including the total dollar amount applicable.
Clause 10.2 in the Agreement of Purchase and Sale for New Construction states:
Deficiencies: At or immediately following the pre-occupancy inspection, deficiencies shall be agreed to in writing together with an amount to be held, by the Seller’s lawyer, for each deficiency item, and a date by which each deficiency item shall be completed. The Buyer agrees to co-operate with the Seller to complete the deficiencies. The itemized dollar amount designated for each deficiency item shall be released to the Seller upon verification that the deficiency items have been completed.
Should a deficiency item not be completed by the date designated for completion, the holdback for that deficiency item shall, at the Buyer’s option, be released to the Buyer, or held pending completion of the deficiency item by a newly agreed completion date.
The Buyer acknowledges that deficiency items are treated separately from warranty items that arise post-closing. The Buyer shall not obstruct or withhold the release of monies held back for deficiency items pending the completion of warranty items.
Form 443 can satisfy clause 10.2 of the Agreement of Purchase and Sale for New Construction as a result of deficiencies discovered during or immediately following the pre-occupancy inspection. The deficiencies must be agreed to by all parties. The form identifies the deficiencies that needs to be addressed, the amounts and the subtotal amount of holdback as a result. The parties are to also indicate the completion date(s) of the deficiencies to be addressed.
