OREA Form in Real Estate: Fully Explained with Samples

OREA form is most commonly used in real estate transactions in the Greater Toronto Area, Ontario. OREA (Ontario Real Estate Association) prepares all those forms for its member use.

In this article, all the frequently used forms are listed with a brief discussion regarding what it is used for, the main considerations you would take, and the common practices. To learn the detailed explanation of clauses, please click the link of each individual page. The relevant form template is also provided for your convenience.

OREA Form For both home buyers and sellers

Form 810 working with a realtor

It is an acknowledgment that the buyer has understood the relationship between the agency and the buyer, client vs customer, multiple representation.
Realtors treat clients and customers differently in real estate. You would make sure whether you want a representation or customer service. Please read the explanation below in a separate article.
Multiple representation may significantly impact your interest, you would have a thorough understanding of it.
There is no obligation for the buyer in this form alone. By regulation, it should be signed together with other agreements before an offer on a house.
Full explanation on FORM 810

Agreement of Purchase and Sale Form 100

It is for residential homes except for condos.
You would ensure to understand it well before signing.
When you sign this contract it is called an offer on a house. When the seller agrees to your offer and signs it back, it becomes a legally binding document.
Main clauses and terms include the offer price, irrevocable time, conditions, deposit, completion date, title search, chattel, fixture, etc.
You would know that conditions are for your benefit and the consequence of removing conditions.
Full explanation on Agreement of Purchase and Sale

Form 101 for the condo buyer

It is a purchase contract specifically for a condominium.
The main clauses and terms different from Form 100 are Certificate Status, Meetings, property management, common expenses, parking, lockers, etc
Status of certificate is a fundamental document to tell you the fiscal and physical health of the building and unit. You probably need a lawyer's assistance.
Full explanation of Agreement of Purchase and Sale

FORM 320 Confirmation of Cooperation and Representation

It is an agreement between the seller’s brokerage and buyer’s brokerage and it defines the buyer relationship with the buyer agent as well.
It stipulates how much the real estate commission is paid to the buyer brokerage.
If you have a commission rebate from a buyer agent, it is the place you would know the total commission that the realtor is paid.
Full explanation of Form 320

FORM 801 Offer Summary Document

It is used to ease the amount of paperwork that agents need to file. It covers the basic information such as name, property address, when the offer is registered, irrevocable time, etc

FORM 120 Amendment to Agreement of Purchase and Sale

It is used when any change occurs after the agreement is signed by both parties. You can not make any change to the signed purchase contract.
Typical changes include a name change, completion date, house price, deposit, etc.
To be effective, this amendment needs to be signed by both parties.

Form 123 Waiver

If there is a conditional offer, the conditions are not satisfied to you after the due diligence, but you still want to proceed with the deal, then you can use this form to waive the conditions.

Form 124 Notice of Fulfillment of Condition

When your due diligence on the conditions is met, you use this form to notify the other party to move on with the deal.

Form Schedule A and B

Home buyers commonly put their conditions and clauses in SCHEDULE A as an attachment to the purchase contract.
Home sellers commonly put their conditions and clauses in SCHEDULE B of the contract.

FORM 630 Fintrac

It is requested by the Canadian government, but there is no need for your signature.
Your realtor may need some personal information including your employer, your job title, et

FOR BUYER ONLY

FORM300 Buyer Representation Agreement

It is not mandatory to sign by regulation, but it is required by most brokerages.
It covers buyer commission obligation, holdover period, indemnification, etc.
To avoid being locked by the exclusive buyer brokerage agreement, you can specify the property address and shorten the period of validity.
A full explanation of the buyer agency agreement

Form 310 Buyer Customer Service Agreement

It is used when a realtor provides customer service to you without representing you.
Make sure that is what you want.
Be extremely careful when under Multiple Representation because you are the customer to the listing agent while the sellers are also their clients.

Cashback Rebate Agreement

There is no standard form for it. Cashback realtor would commonly document it in the addendum (Schedule A) of the Buyer Representation Agreement or FORM310.

You need to ensure the accuracy of the amount or percentage of the commission rebate, when and how it would be delivered to you.

FOR SELLER ONLY

FORM200 Listing Agreement

It is a contract between the seller and the listing brokerage.
It is mandatory for you to sign. There is also a minimum time period request by Treb if you are selling a home with MLS.
The main clauses and terms cover realtor fee, holdover period, indemnification, information usage, etc
Holdover period may appear confusing. You can simplify it as a commission deficiency obligation to the original agency.
Full explanation on the seller agency agreement

Seller Customer Service Agreement Form 201

If your realtor provides customer service to you instead of representing you, you could sign this form.

MLS Data Information Form

If you plan to list your home in MLS, you need to use this form.
It covers most of your home details such as house type, features, square foot, property tax, etc.
You would also provide your agent with the relevant documents such as property tax bills, utility bills, rental contracts, permits, surveys, etc.

Seller’s Direction Re: Property/Offers FORM244

You can use this form to instruct your realtor to follow your preferences regarding offer notifications. For example, you don't want to be notified of offers untill a specific date.