A Contract for the Sale of Commercial Real Estate is an agreement between a buyer
and seller for the vending and purchasing of real estate. This agreement outlines how
the process of a sale of a commercial property will commence. This agreement spells
out how the purchase price is to be paid and earnest money is to be held in escrow, the
various of obligations of each party, the grounds for default, and closing procedures.
Additionally, it can be customized to provide for any additional industry specific
language that may be necessary. Use this contract as a template when buying or
selling commercial real estate.
AGREEMENT FOR SALE OF COMMERCIAL PROPERTY
This Agreement for Sale of Commercial Property (this “Agreement”) is hereby entered
into on this ____________ day of ________, ___________ (“Effective Date”) by and between
_____________ (“Buyer”) and __________________ (“Seller”).
The Parties hereto, intending to be legally bound, hereby agree as follows:
1. Property Details
Seller hereby agrees to sell the parcel of land located at ______________________ and
more particularly described in Schedule “A” attached hereto (the “Property”), including all
buildings and improvements thereon (collectively, the “Building”), the fixtures and equipments
attached thereto, and any personal property thereon, to Buyer and Buyer agrees to purchase same
from Seller, pursuant to the following terms and conditions.
2. Purchase Price, Financing, and Earnest Money
2.1 Purchase Price
Buyer shall pay to Seller the purchase price of ____________________________ dollars
($__) in the following manner:
a. The Earnest Money amount of _______ ($__) shall be paid at the time of the
Effective Date set forth herein and above.
b. The balance of the Purchase Price shall be paid (subject to pro-ratings and closing
adjustments) by cash at the time of Buyer’s acceptance of title, subject to the following
Continuing Mortgages: ___________________ [Any other if applicable]
2.2 Earnest Money
The Earnest Money shall be paid in the manner described above, and shall be held by
______________ (“Holder”) for the benefit of Buyer and Seller.
a. Holder will hold any cash as specified until Closing or the earlier termination of
this Agreement and will pay over or apply the cash and deliver it and any other deposits made in
accordance with the terms of this Agreement.
b. Use of Deposited Funds
i. If Closing occurs as scheduled, any cash that is so held by Holder shall be
paid by Holder to Seller, and any earnings thereon shall be paid to Buyer. A deposit made in a
form other than cash will be treated as cash unless otherwise specified.
ii. If Closing does not occur as scheduled:
(a). Upon receipt of a notice from a Party demanding delivery of the
Earnest Money, Holder shall notify the other Party of such a notice. If Holder does not receive a
written objection to the delivery demand from the other Party within ___ (__) business days after
the date upon which Holder gave such notice, Holder is authorized to deliver the