Commercial Agreement To Buy And Sell Template
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3COMMERCIAL AGREEMENT TO BUY AND SELL
_________________________________________________________________________________________________________
Listing Firm
Listing Agent
Phone
_________________________________________________________________________________________________________
Selling Firm
Selling Agent
Phone
_________________________________________________________________________________________________________
Received by Designated Agent
Date
Time
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The undersigned agree to buy and sell the Subject Property upon the terms and conditions stated below.
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SUBJECT PROPERTY: ___________________________________________________________________________________
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LEGAL DESCRIPTION: __________________________________________________________________________________
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_________________________________________________________________________________________________________
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with the legal description to prevail or as described on the attached exhibit. The sale shall include all property owned by Seller and
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permanently attached to the above described property.
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APPROXIMATE LOT SIZE: _______________________________________________________________________________
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SALE PRICE: $___________________________________________________________________________________________
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TERMS OF SALE: (Check one of the following)
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[ ] All cash at closing
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[ ] New financing with a $_________________ down payment with the balance of $___________________ upon terms and
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conditions acceptable to the Buyer. Should Buyer fail to furnish Seller with a written loan commitment from a lender, without
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contingencies except subject to approval of title, within ______________calendar days after the effective date of this
Agreement, this Agreement shall become null and void and Buyer’s deposit shall be immediately refunded. Buyer authorizes and
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instructs lender to release to Seller or Seller’s Agent, written verification of the loan application and final loan commitment.
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APPRAISAL.
[ ] This sale is NOT conditioned upon appraisal.
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[ ] This sale is conditioned on appraisal. Buyer shall have ______ calendar days commencing on the
day after the Effective Date of the Agreement (the “Appraisal Period”) to have the subject property appraised by a Louisiana
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certified real estate appraiser. In the event the appraised price is less than the Sale Price, the Buyer, prior to expiration of the
Appraisal Period, shall furnish the Seller with a copy of said appraisal and Buyer’s written request to adjust the Sale Price. Failure
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of the Buyer to properly notify Seller prior to the expiration of the Appraisal Period shall constitute a waiver of this appraisal
contingency and Buyer’s acceptance of the Sale Price stated herein. In the event the Buyer and Seller cannot agree upon an
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adjusted Sale Price within five (5) calendar days after Seller’s receipt of a copy of the appraisal and Buyer’s request to adjust the
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Sale Price, Buyer may, prior to the end of the five (5) calendar day period, declare this Agreement null and void and Buyer’s
deposit shall be immediately refunded. Failure of Buyer to make said timely declaration shall constitute Buyer’s acceptance of the
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Sale Price stated herein and Buyer shall proceed to closing of the sale subject to the remaining terms and conditions of this
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Agreement.
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DEPOSIT. Within ____ days after the effective date of this Agreement, Buyer agrees to immediately deposit the sum of
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$__________________ with ______________________________________ as a good faith deposit. Failure by Buyer to do so
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shall render this Agreement null and void. If the parties fail to execute an Act of Sale by the date specified herein, and/or the
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parties do not agree to a mutual release of the deposit, the deposit shall be disbursed in accordance with the Louisiana Real Estate
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license law and the Rules and Regulations of the Louisiana Real Estate Commission regarding deposits.
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SECURITY DEPOSITS. If applicable, Seller shall pay over to the Buyer at closing all security deposits held by Seller pursuant
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to any lease Agreements and shall provide buyer with a detailed accounting of said deposits.
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DUE DILIGENCE. Buyer shall have ______ calendar days commencing on the day after the effective date of this Agreement
(the “Due Diligence Period”) to conduct all necessary due diligence which may include, but not limited to, a feasibility study,
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property inspection (including all mechanical equipment, plumbing, and electrical systems), determine availability of utilities,
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zoning conditions, subdivision and deed restrictions, flood zone classification, soil conditions, possibility of presence of wood-
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destroying insects, existence of hazardous or toxic materials, site plans, permit requirements, conformance of property to local
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building and fire codes, any replatting requirement and any other factors or conditions which might affect the property. Seller
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hereby authorizes Buyer or its agents to enter upon the subject property for the purpose of making said inspections. Buyer agrees
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to release and indemnify Seller from and against all liability, costs and expenses for loss or damage to the property and for injuries
to or death of any person or persons arising out of said entry and inspections. Should Buyer’s inspection reveal factors or
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conditions unacceptable to Buyer, in Buyer’s sole discretion, Buyer shall notify Seller, in writing, prior to expiration of the Due
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Diligence Period, of Buyer’s intention not to accept the property and this Agreement shall become null and void and Buyer’s
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deposit shall be immediately refunded. Failure of Buyer to timely and properly notify Seller shall constitute a waiver of this due
diligence contingency and Buyer’s acceptance of the property.
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SURVEY. _______________________________ shall be responsible for any costs required for a survey or replatting of the
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Subject Property.
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RECORDS AND CONTRACTS. If applicable, Seller agrees to make immediately available to Buyer, or Buyer’s Agent, copies
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of all leases, service contracts, tax bills, deposit receipts, rent rolls, insurance policies, maintenance records, and all other records
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relating to the property.
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CONDITION OF PROPERTY. Buyer and Seller agree and stipulate that the property is being sold and purchased subject to all
rights-of-way, easements and servitudes, visible or apparent or of record in an “AS-IS” condition and Buyer waives any and all
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_____ Seller’s Initials
_____Buyer’s Initials
Rev. 05/2012
_____ Seller’s Initials
_____Buyer’s Initials
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