Real Estate
Commercial Property Purchase Agreement
An agreement for the sale and purchase of commercial real estate property.
Contract Preview
This Commercial Property Purchase Agreement (the "Agreement") is made and entered into as of [Date], by and between [Seller Name] ("Seller") and [Buyer Name] ("Buyer").
1. Property. Seller agrees to sell and convey to Buyer, and Buyer agrees to purchase from Seller, the real property located at [Property Address], together with all improvements thereon and all rights and appurtenances thereto (the "Property").
2. Purchase Price. The purchase price for the Property shall be [Purchase Price] Dollars ($XXX,XXX.XX) (the "Purchase Price"), payable by Buyer as follows:
a. Earnest Money Deposit: [Deposit Amount] to be deposited in escrow upon signing of this Agreement.
b. Balance: The remaining balance shall be paid at Closing in cash or other immediately available funds.
3. Due Diligence. Buyer shall have [Number] days from the Effective Date (the "Due Diligence Period") to conduct all desired inspections and investigations of the Property.
4. Closing. The closing of the purchase and sale of the Property ("Closing") shall take place on or before [Closing Date].
5. Representations and Warranties. Seller represents and warrants that it has good and marketable title to the Property, free and clear of all liens, encumbrances, and restrictions, except as disclosed in this Agreement.
AI Contract Insights
Get a quick, AI-powered summary of the key terms and obligations.