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Buyer Transaction Lifecycle

Document breakdown for realtors—know exactly which forms you need at each stage of a buyer transaction.

5 stages
~10 min read

Buyer Transaction Lifecycle

Document Breakdown for Realtors

1
Stage 1

Initial Buyer Consultation & Representation Setup

Must Use

Consumer Relationships Guide (Print Friendly)

Explains agency types (client vs. customer) and disclosure obligations. Must be presented at the beginning of the relationship.

Exclusive Buyer Representation Agreement (Designated Agency)

Creates a formal contract between agent and buyer outlining duties, commission structure, and agency obligations.

FINTRAC – Identification Mandatory Agent Agreement (CREA)

Form where the agent declares responsibility for verifying the client's identity in compliance with federal regulations.

FINTRAC – Individual Identification Information Record (CREA)

Used to collect and record the client's government-issued ID and details as part of Canada's anti-money laundering regulations.

FINTRAC – Politically Exposed Person/Head of International Organization Checklist (CREA)

Assesses whether the client holds a high-risk position that requires additional reporting to FINTRAC.

If Applicable

Referral Fee Consent

Used when another agent or brokerage is referring the client. Outlines any commission sharing between agents.

2
Stage 2

Offer Writing & Submission

Must Use

Residential Purchase Contract

The main offer document that sets out terms, conditions, price, deposit, and possession details.

If Applicable

Residential Resale Condominium Property Purchase Contract

Used instead of the standard residential contract if the buyer is purchasing a resale condo.

Addendum (For Adding Contract Terms)

Adds custom clauses or details that don't fit in the main contract, such as seller-paid repairs or inclusions.

Tenancy Schedule

Used when the property is tenanted and buyer is assuming the lease. Lists all current rental arrangements and terms.

Sale of Buyer's Property Schedule

Attached to the offer if the buyer must sell their current property before completing the purchase.

Purchase Contract Dower Consent & Acknowledgment

Used if the seller is subject to dower rights (e.g., married and on title alone). Buyer's agent collects this when needed.

3
Stage 3

Condition Period (Financing, Inspection, Review)

Must Use

None specific – depends on conditions written into the offer

If Applicable

Addendum – Purchase Contract

Used to add new conditions or clarify existing ones during the conditional period.

Amendment – Purchase Contract

Used to change the possession date, price, or extend condition deadlines with agreement from both parties.

4
Stage 4

Waiving or Not Waiving Conditions

If Applicable

Notice (For Waiver/Satisfaction of Conditions)

Used to remove a condition when satisfied (e.g., financing approved). Makes the deal firm.

Notice (For Non-Waiver/Non-Satisfaction of Conditions)

Used to terminate the deal if a condition isn't met (e.g., financing denied). Must be submitted before the deadline.

5
Stage 5

After Firm Deal – Pre-Closing Support

Must Use

None specific for agents at this stage

This period involves behind-the-scenes work: sending docs to lawyers and mortgage brokers, confirming possession logistics.

Click on any stage to explore the required documents