A commercial real estate sales contract is that document which gives a right to the owner of a commercial property to sale it to a buyer. This kind of contract mentions all the terms and conditions agreed between both the parties.
Sample Commercial Real estate Sales Contract
Name: Mr. Tim Nell
Business: real estate selling and buying business
Name: Mr. George Radcliff
Business: steel company
Address: 45-H, Ridge Street, London
Date: 18’Th October, 2010
Effective date of transfer of possession: 1’st November, 2010
Property address: 5-reggy villa, east London
Area: 1200 esq.
Total cost: $2000
The cash down payment shall be made in advance one week before the commencement of deal. The amount of cash down will be $800.
The balance $1200 shall be paid through equal monthly installments.
Terms and conditions:
- The owner shall hold the rights to ownership and title till the amount is recovered through installment.
- The buyer shall pay the installments on the 1’st of every month and any late payment will be met by late charges.
- The buyer shall use the property only for commercial purposes and the seller will have right to press legal implications in case of misconduct.
- The seller will have right to inspect the property till he holds the ownership.
- The property must be kept in good condition and the buyer must be responsible to pay for maintenance and repair.
It is therefore agreed by both parties to follow the terms and conditions of the contract:
Tim Nell (owner/seller)
George Radcliff (buyer)