Any person or organization willing to sell a commercial building enters into a commercial building contract with the party enthusiastic to buy the property.
Sample Commercial Building Contract
Commercial Building Contract Number: 35 / Bu
Date: 11th January, 2010.
This commercial building contract is entered between
Owner – KIT Private Limited
Buyer- SUV Private Limited
Address of the Property on Sale: Block 45, Plot 17-H, Hamilton Boulevard, Texas.
Amount stipulated by evaluator: 55,000$
The terms and conditions of the contract are given below, of which both the parties have approved:
Terms of Payment:
Payment will be paid in three instalments, 35,000$ on 3rd February, 2010 and 10,000$ each on 3rd March and April, 2010.
Declaration of the Owner:
The property on sale is in good condition. The number of tenants currently stationed in the building is four (4). Other than this, there is no other leaseholder or shareholder of this building. It has electricity supply, water supply taxes are cleared till 2012. It is well positioned and well connected by public transport. The rooms of the building are fully furnished.
Termination of the Contract:
If failure to abide by the stipulations occurs by any of the parties, then the contract would be terminated.
The contract is governed by and subjected to the laws of the state of Texas.
The Buyer and the Owner have hereby settled to the above mentioned conditions of the contract and have entered into the contract.
KIT Private Limited SUV Private Limited
(Signature of the Owner) (Signature of the Buyer)
(Signature of the Witness)