Find online a listing of commercial or industrial (not residential) real estate (land or land plus building) for sale in Canada. Do not use the sale of a businessunless the business includes land or land plus buildingwhich is owned (not leased) by the business. Use a freely accessible MLS site, such as Realtor.ca. Readthe listings and any linked information carefully, and then copy the link of that listing and paste it in the beginning of your submission.

Assume that as a prospective purchaser:

• Your plan is to open a unique business that is quite different from anything that has been carried on in the premises before and which may require rezoning.
• You will rely on mortgage financing to complete the purchase, which you have not yet obtained.

Are there any precautions you would take to investigate the property? Explain what they might be and why they would be done. How are the steps to be takenaffected by the location of the property in Canada?

If you decided to proceed, what special terms would you want added to the agreement of purchase and sale? Explain their purpose and function.

Assuming everything goes well, what steps would be taken to close the sale? How are the steps to be taken and the documents used affected by the location of theproperty in Canada?

Structure your answer following the Marking Rubric below.

Marking Rubric

Marking Criteria Mark

1. Provides a working link to a listing of a commercial or industrial property for sale in Canada. /10

2. Identifies the location of the property and explains why and how this matters for the preparatory steps to be taken in a real estate transaction in Canada in relation to thetwo systems of land law found in Canada./15

3. Identifies typical concerns for a purchaser having regard for the proposed change of use and any particularities of the property in question, and explains the precautions aprospective purchaser would take as a result, applying the effect of the location of the property where relevant./25

4. Based on the facts given about the purchaser and their situation, identifies one special term to be put in the agreement for sale and explains its purpose and function. /10

5. Based on the facts given about the purchaser and their intentions, identifies another special term to be put in the agreement for sale and explains its purpose and function. /10

6. Explains what consequences the location of the property has for the process of transferring title at the conclusion of the transaction. /10

7. Lists and explains the appropriate steps to take in closing the sale. /20

Total /100