The Simple Commercial Real Estate Purchase Agreement serves as the primary contract document for commercial property transactions in the United States. This agreement is typically used when parties seek a straightforward approach to documenting the sale of commercial property without complex contingencies or unusual terms. It includes essential elements such as property description, purchase price, closing conditions, and due diligence requirements while ensuring compliance with applicable state and federal regulations. The agreement is designed to protect both buyer and seller interests while facilitating efficient commercial real estate transactions.
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1. Parties: Identification of buyer and seller with full legal names and addresses
2. Background: Context of the transaction and property description
3. Definitions: Key terms used throughout the agreement
4. Property Description: Detailed legal description of the property being sold
5. Purchase Price: Amount and payment terms
6. Closing Date: Specified date for completion of the transaction
7. Due Diligence: Buyer's investigation rights and timeline
8. Representations and Warranties: Statements of fact by both parties
9. Default and Remedies: Consequences of breach by either party
1. Financing Contingency: Terms related to buyer's ability to secure funding - use when buyer requires external financing
2. Environmental Provisions: Specific environmental requirements and responsibilities - use when property has potential environmental concerns
3. Tenant Rights: Provisions regarding existing tenants - use when property has current tenants
1. Property Survey: Detailed survey of the property and boundaries
2. Title Report: Current title search results and exceptions
3. Environmental Reports: Results of environmental assessments
4. Property Inspection Reports: Results of physical property inspections
5. Existing Leases: Copies of current tenant agreements if property has existing tenants
Relevant legal definitions
Agreement
Closing
Closing Date
Deposit
Due Diligence Period
Effective Date
Earnest Money
Environmental Laws
Escrow Agent
Hazardous Materials
Improvements
Land
Permitted Exceptions
Property
Purchase Price
Real Property
Seller's Knowledge
Survey
Title Commitment
Title Company
Title Insurance Policy
Title Objections
Transaction Documents
Zoning Laws
Applicable Laws
Business Day
Certificates of Occupancy
Contracts
Existing Leases
Fixtures
Force Majeure
Governmental Authority
Inspection Period
Material Adverse Change
Operating Expenses
Permits
Personal Property
Property Documents
Tenant(s)
Utilities
Closing
Closing Date
Deposit
Due Diligence Period
Effective Date
Earnest Money
Environmental Laws
Escrow Agent
Hazardous Materials
Improvements
Land
Permitted Exceptions
Property
Purchase Price
Real Property
Seller's Knowledge
Survey
Title Commitment
Title Company
Title Insurance Policy
Title Objections
Transaction Documents
Zoning Laws
Applicable Laws
Business Day
Certificates of Occupancy
Contracts
Existing Leases
Fixtures
Force Majeure
Governmental Authority
Inspection Period
Material Adverse Change
Operating Expenses
Permits
Personal Property
Property Documents
Tenant(s)
Utilities
Clauses
Property Description
Purchase Price
Payment Terms
Due Diligence
Title and Survey
Representations and Warranties
Closing Conditions
Closing Costs
Property Access
Environmental Matters
Default and Remedies
Risk of Loss
Broker Commission
Assignment
Notice Requirements
Time of Essence
Governing Law
Force Majeure
Severability
Integration
Financing Contingency
Property Management
Tenant Rights
Existing Contracts
Property Condition
Zoning Compliance
Insurance
Tax Prorations
Confidentiality
Post-Closing Obligations
Indemnification
Survival
Dispute Resolution
Right of First Refusal
Extension Rights
Purchase Price
Payment Terms
Due Diligence
Title and Survey
Representations and Warranties
Closing Conditions
Closing Costs
Property Access
Environmental Matters
Default and Remedies
Risk of Loss
Broker Commission
Assignment
Notice Requirements
Time of Essence
Governing Law
Force Majeure
Severability
Integration
Financing Contingency
Property Management
Tenant Rights
Existing Contracts
Property Condition
Zoning Compliance
Insurance
Tax Prorations
Confidentiality
Post-Closing Obligations
Indemnification
Survival
Dispute Resolution
Right of First Refusal
Extension Rights
Relevant Industries
Relevant Teams
Relevant Roles
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