The Contract For Sale Of Commercial Property serves as the primary document in commercial real estate transactions within the United States. This contract is essential when any business or individual wishes to purchase commercial property, whether it's an office building, retail space, industrial facility, or other commercial real estate. The document comprehensively addresses all aspects of the transaction, including property description, purchase price, due diligence requirements, closing conditions, and both parties' rights and obligations. It must comply with both federal regulations and state-specific real estate laws, making it a complex but crucial document for ensuring a legally sound property transfer.
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1. Parties: Identification of buyer and seller with full legal names and addresses
2. Background: Context of the sale and property description
3. Definitions: Key terms used throughout the agreement
4. Property Description: Detailed legal description of the property and included fixtures/fittings
5. Purchase Price: Agreed price and payment terms
6. Closing: Closing date, location, and requirements
7. Title and Due Diligence: Requirements for clear title and inspection period
8. Representations and Warranties: Statements of fact by both parties about the property and transaction
9. Default and Remedies: Consequences of breach by either party
10. Governing Law: Applicable jurisdiction and dispute resolution
1. Financing Contingency: Terms and conditions related to buyer's financing requirements and contingencies
2. Environmental Matters: Provisions regarding environmental investigations, compliance, and remediation requirements
3. Tenant Rights: Provisions dealing with existing lease agreements and tenant obligations
4. Development Rights: Terms regarding transfer of development rights or restrictions on future development
1. Schedule A - Property Plan: Detailed site plan and boundaries of the property
2. Schedule B - Title Documents: Current title deed and related documentation
3. Schedule C - Environmental Reports: Environmental assessment results and reports
4. Schedule D - Existing Leases: Current lease agreements and tenant information
5. Schedule E - Property Condition Report: Detailed report on current state of property and improvements
6. Schedule F - Permitted Encumbrances: List of accepted liens or encumbrances on the property
7. Schedule G - Service Contracts: Ongoing service agreements that transfer with the property
8. Schedule H - Insurance Certificates: Current property insurance documentation
Relevant legal definitions
Agreement
Appurtenances
Business Day
Closing
Closing Date
Closing Documents
Deed
Deposit
Due Diligence Period
Earnest Money
Effective Date
Environmental Laws
Environmental Reports
Escrow Agent
Excluded Assets
Fixtures
Force Majeure
Governmental Authority
Hazardous Materials
Improvements
Included Personal Property
Land
Laws
Leases
Lender
Material Adverse Change
Permitted Encumbrances
Permitted Use
Property
Purchase Price
Real Property
Representatives
Service Contracts
Survey
Title Commitment
Title Company
Title Insurance Policy
Title Objections
Transaction Documents
Utilities
Appurtenances
Business Day
Closing
Closing Date
Closing Documents
Deed
Deposit
Due Diligence Period
Earnest Money
Effective Date
Environmental Laws
Environmental Reports
Escrow Agent
Excluded Assets
Fixtures
Force Majeure
Governmental Authority
Hazardous Materials
Improvements
Included Personal Property
Land
Laws
Leases
Lender
Material Adverse Change
Permitted Encumbrances
Permitted Use
Property
Purchase Price
Real Property
Representatives
Service Contracts
Survey
Title Commitment
Title Company
Title Insurance Policy
Title Objections
Transaction Documents
Utilities
Clauses
Property Description
Purchase Price
Payment Terms
Due Diligence
Title Insurance
Representations and Warranties
Environmental Compliance
Property Condition
Closing Conditions
Covenants
Default and Remedies
Risk of Loss
Property Access
Assignment
Force Majeure
Indemnification
Broker Commission
Confidentiality
Notices
Governing Law
Dispute Resolution
Severability
Time of Essence
Survival
Entire Agreement
Amendment
Waiver
Further Assurances
Counterparts
Recording
Tax Prorations
Insurance
Existing Tenancies
Utilities Transfer
Property Management
Purchase Price
Payment Terms
Due Diligence
Title Insurance
Representations and Warranties
Environmental Compliance
Property Condition
Closing Conditions
Covenants
Default and Remedies
Risk of Loss
Property Access
Assignment
Force Majeure
Indemnification
Broker Commission
Confidentiality
Notices
Governing Law
Dispute Resolution
Severability
Time of Essence
Survival
Entire Agreement
Amendment
Waiver
Further Assurances
Counterparts
Recording
Tax Prorations
Insurance
Existing Tenancies
Utilities Transfer
Property Management
Relevant Industries
Relevant Teams
Relevant Roles
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