Commercial Purchase and Sale Agreement
(Long Form)

Summary

This purchase and sale agreement template may be used for the acquisition or disposition of commercial real property. This template includes practical guidance and drafting notes. The length and specificity of a purchase and sale agreement varies depending on the size, type, and complexity of the property being acquired or sold, as well as the relative bargaining power of the parties. This template should be tailored to suit the transaction. This template is not jurisdiction-specific, and the laws of the jurisdiction where the property is located should be consulted and incorporated into the template. Local counsel should be consulted to advise on matters of local law, including but not limited to any disclosures or notices required by either party. For guidance in drafting a commercial purchase and sale agreement, see Commercial Purchase and Sale Agreements and Commercial Purchase and Sale Agreements. See also Acquisition of Real Estate in Multiple Jurisdictions for guidance on the provisions in a purchase and sale agreement that may vary by jurisdiction. For additional templates often used in connection with commercial purchases and sales, see Mortgage Assignment Clause (Commercial Purchase and Sale) and Amendment to Commercial Purchase and Sale Agreement (Inspection Period Extension) (Pro-Buyer). For a full listing of key content covering purchasing and selling commercial real estate, see Purchasing and Selling Commercial Real Estate Resource Kit. For a list of key resources covering real estate-related tasks for associates, in-house attorneys, and interns, see First Year Associate Resource Kit: Real Estate, Summer Associate Resource Kit: Real Estate, In-House Real Estate Resource Kit, and Federal Government Summer Intern Resource Kit: Real Estate. For a list of key resources covering commercial purchase and sale-related tasks for a junior associate, see Junior Associate Real Estate Resource Kit (Commercial Purchase and Sale). To compare state laws on commercial real estate ownership, see the Real Estate State Law Comparison Tool.