A commercial property contract is signed and entered into by the owner of a property eager to sell it and a person or an organization willing to buy the same property. Property usually indicates land.
Sample Commercial Property Contract
Commercial Property Contract Number: 4u9 / Pro
This commercial property contract is entered between
Owner – Mr. Percy Felton
Buyer- Mr. Brad Boyd
Date: 29th December, 2010.
Mr. Percy Felton, referred to as the Owner and Mr. Brad Boyd, referred to as the Buyer have entered into a contract stating the sale of a piece of land of One (1) acre to Mr. Brad Boyd. Acquisition of the land is on 5th January, 2011.
Address of the Property on Sale: Plot 94-W/1, North Shore Avenue, New York.
Both the parties abide by the terms and conditions stipulated with the consent of each other, which are given below:
Terms of Payment:
The total sum of 40,000$ stipulated by the property evaluator must be paid before 5th January, via cheque. If for any compelling reason, the amount is not paid, and then handover of land will be delayed, depending upon how late the payment was received. If the buyer wishes to pay in instalments then the landholder should be made aware of the fact before the above mentioned date.
Failure to abide by the clauses of the contract would lead to termination of it.
Both the parties, the Buyer and the Landholder have agreed to the above mentioned stipulations and conditions and hereby enter into the contract.
Mr. Percy Felton Mr. Brad Boyd
(Signature of the Landholder) (Signature of the Buyer)
(Signature of the Witness)