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Commercial Property Purchase And Sale Agreement
"I need a Commercial Property Purchase And Sale Agreement for acquiring a multi-tenant office building in Austin, Texas, with specific provisions for existing tenant leases and environmental compliance requirements, planning to close by March 2025."
1. Parties: Identification of buyer and seller with complete legal names and addresses
2. Background/Recitals: Context of the transaction and basic property information
3. Definitions: Key terms used throughout the agreement
4. Property Description: Detailed legal description of the property and included fixtures/equipment
5. Purchase Price: Amount, payment terms, and deposit requirements
6. Due Diligence: Inspection period, documentation requirements, and review rights
7. Closing: Closing date, requirements, and procedures
8. Representations and Warranties: Statements of fact and promises by both parties
9. Default and Remedies: Consequences of breach and available remedies
1. Financing Contingency: Terms related to buyer's ability to obtain financing - include when buyer requires financing to complete purchase
2. Environmental Matters: Environmental investigations and remediation requirements - include for properties with potential environmental concerns
3. Tenant Rights: Existing lease agreements and tenant obligations - include for properties with existing tenants
4. 1031 Exchange: Terms facilitating tax-deferred exchange - include when either party wishes to structure as 1031 exchange
1. Property Description Schedule: Detailed legal description and property boundaries
2. Due Diligence Documents: List of required property documentation
3. Environmental Reports: Environmental assessment results and remediation plans
4. Title Exceptions: List of permitted and unpermitted title exceptions
5. Existing Leases: Schedule of current tenants and lease terms
6. Property Inventory: List of included personal property and equipment
Authors
Property
Purchase Price
Closing Date
Closing
Deposit
Due Diligence Period
Due Diligence Materials
Effective Date
Environmental Laws
Environmental Reports
Escrow Agent
Hazardous Materials
Improvements
Land
Permitted Exceptions
Personal Property
Property Documents
Purchase Price
Real Property
Seller's Knowledge
Survey
Title Commitment
Title Company
Title Insurance Policy
Title Objections
Transaction Documents
Zoning Laws
Business Day
Casualty
Condemnation
Contracts
Deed
Earnest Money
Encumbrances
Force Majeure
Inspection Period
Leases
Liens
Permits
Property Rights
Tenant
Purchase Price
Payment Terms
Deposit
Due Diligence
Title and Survey
Representations and Warranties
Covenants
Conditions Precedent
Closing Conditions
Closing Procedures
Prorations and Adjustments
Environmental Matters
Property Condition
Risk of Loss
Default and Remedies
Brokers
Assignment
Notices
Casualty and Condemnation
Confidentiality
Indemnification
Force Majeure
Governing Law
Dispute Resolution
Entire Agreement
Severability
Time of Essence
Further Assurances
Survival
Amendment
Waiver
Counterparts
Authority
Recording
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