What is Schedule B in an Ontario Agreement of Purchase and Sale?
The standard OREA Agreement of Purchase and Sale form has a Schedule B section for additional terms and conditions that the parties wish to include beyond what the printed form covers. Common uses include specifying additional chattels or fixtures, setting out repair obligations before closing, adding clauses about an existing tenancy, or attaching a home inspection condition if not included in Schedule A.
Schedules become part of the binding contract, so their drafting matters enormously. Vague or inconsistent language in a schedule can create disputes about what was actually agreed to. If a schedule conflicts with the main form, the hierarchy of which governs depends on the contract language and how a court might interpret it.
Your real estate agent typically prepares the schedule clauses. Before you sign, your real estate lawyer should review any schedules to flag ambiguity, identify missing protections, or spot clauses that may disadvantage you. Schedules can be the difference between a smooth closing and a dispute — take them seriously.
Key takeaways
- Schedule B is used for additional terms beyond the printed APS form.
- It forms part of the binding contract and carries the same legal weight.
- Vague or conflicting schedule language can create serious closing disputes.
- Have your lawyer review all schedules before you sign.