A commercial property purchase contract is a formal contract which is framed in the case when a person or party agrees to purchase a commercial property from another person or party who owns that property. Any such contract is made up of certain legally binding terms and conditions which must be abided by both the parties that are involved. A commercial property purchase contract also consists of the details of the property like its location, purchase price etc. Given below is a sample of a commercial property purchase contract that can be used for reference purpose by anyone interested.
Sample Commercial Property Purchase Contract:
This is a commercial property purchase contract.
Effective date of contract: 15th Oct 2012
The details of the parties are given as follows.
Details of the OWNER
Name: Mr. Ronald Trump
Official address: S-45, second floor, More tower, London
Contact number: 4304937059
Details of BUYER:
Name: Mr. Peter Emanuel
Residential address: A—3, C tower, B Street, London
Contact number: 4093409350
Details of commercial property:
Address: S-34, Greg Estate, London
Total purchase amount: $80000
TERMS AND CONDITIONS of the contract:
- The OWNER of the commercial property with the address mentioned above agrees to sell the property to the BUYER.
- The BUYER agrees to purchase the commercial property for commercial use only and cannot use it for personal or mixed use purpose.
- The entire payment has to be made on the day when the OWNER hands over the property and its papers to the BUYER.
- The BUYER can lease the property if he wishes after the effective date of the contract.
- The BUYER cannot sell back the property to the OWNER under any circumstances or shall be tried by the federal court of the law of the state.
Signatures of the parties: