COMMERCIAL REAL ESTATE PURCHASE
AND SALE AGREEMENT
This Commercial Real Estate Purchase and Sale Agreement (“Agreement”) is made by and between __________________
___________________________________, a(n) ___________________________________ (“Seller”) and ____________________
____________________________, a(n) _________________________________ (“Buyer”). The Agreement Date shall be the date of
execution of this Agreement by the party last executing the Agreement.
ARTICLE 1:
DEFINED TERMS
1.01
_____________________________ is the owner of record and Seller of certain real property described below.
1.02
______________________________ is the Buyer.
1.03
The Property is certain real estate which is commonly known as _____________________________________
_____________________________________, consisting of _______________________________________ (improvements)
and having tax identification number(s) of ______________________________. The legal description of the Property is [or
shall be] attached hereto as Exhibit A.
1.04
The Purchase Price is $________________________ consisting of:
(a)
________________________
which
shall
be
deposited
with
__________________
(“Escrowee”)
within
_____________ business days of the Agreement Date (“Initial Earnest Deposit”); and
(b)
________________________ which shall also be deposited with Escrowee within _________ days of
______________________________________ (“Supplemental Earnest Deposit”); and
(c)
[Balance of purchase price] to be paid by Buyer to Seller at closing by certified check, cashier’s check, or wire
transfer, plus or minus prorations and credits (if any) as described below.
1.05
(a)
_______________________________________ is Seller’s Broker and/or designated agent.
(b)
_______________________________________ is Buyer’s Broker and/or designated agent.
1.06
Due Diligence period shall be the period commencing upon the Agreement Date and extending for __________ days
thereafter, unless extended by a writing executed by both Seller and Buyer, or shortened by a writing executed by Buyer.
1.07
Address of the parties for notice:
(a)
Seller: ________________________________
(b)
Buyer: ________________________________
________________________________
________________________________
________________________________
________________________________
with a copy to:
with a copy to:
________________________________
________________________________
Seller’sAttorney
Buyer’s Attorney
________________________________
________________________________
________________________________
________________________________
1.08
Buyer’s intended use of the Property is ________________________________ (“Intended Use”).