Purchase and Sale Agreement (Commercial Real Estate) (Pro-Purchaser Short Form)

by Practical Law Real Estate

A Standard Document that provides a pro-purchaser short-form purchase and sale agreement for commercial real estate acquisitions. This jurisdictionally neutral template is designed for use in any state, offering a strong starting point for negotiating a commercial property sale. This Standard Document addresses essential elements of a real estate transaction, including conveyance of property, purchase price, and closing procedures. It features key purchaser protections such as a financing contingency, a detailed due diligence period for property investigation, and favorable remedies for a seller default. The agreement also outlines provisions for title review, seller's representations and warranties, and risk of loss. To aid negotiations, this Standard Document includes a link to a comparison redline document showing the differences between this pro-purchaser version and a pro-seller version, a useful tool for both parties.