[{"data":1,"prerenderedAt":527},["ShallowReactive",2],{"document-contract-of-sale-of-commercial-property-D1169":3},{"document":4,"label":23,"preview":11,"thumb":24,"thumb600":25,"description":5,"descriptionCustom":6,"apiDescription":5,"pages":8,"extension":10,"parents":26,"breadcrumb":30,"related":38,"customDescModule":181,"customdescription":6,"mdFm":182,"mdProseHtml":526},{"description":5,"descriptionCustom":6,"label":7,"pages":8,"size":9,"extension":10,"preview":11,"thumb":12,"svgFrame":13,"seoMetadata":14,"parents":15,"keywords":22},"CONTRACT OF SALE OF COMMERCIAL PROPERTY This Contract of Sale of Commercial Property (the \"Agreement\") is made and effective [DATE], BETWEEN: [YOUR COMPANY NAME] (the \"Seller\"), a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] AND: [PURCHASER NAME] (the \"Purchaser\"), an individual with his main address located at OR a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] RECITALS In consideration of the covenants and agreements of the respective parties, as set forth below, Seller agrees to sell and convey to Purchaser, and Purchaser agrees to purchase and take from Seller, the real property situated in [city], [state], and particularly described as follows: [set forth legal description] together with all improvements on the property and appurtenances to it, and the articles of equipment and other personal property listed in Exhibit A, which is attached and incorporated by reference. The real and personal property described above is referred to as property. Transfer to Purchaser shall include all right, title, and interest of Seller in and to all streets, alleys, roads, and avenues adjoining the real property, and shall further include any award for damaging or taking by eminent domain by public or quasi-public authority, of the real property or any part of it. PRICE The purchase price for property is [AMOUNT], payable as follows: [describe terms]. TITLE; TENANCIES Conveyance of title to property shall be by warranty deed with full covenants, executed by Seller [if appropriate, add: accompanied by a duly certified resolution of the board of directors of Seller, authorizing the conveyance], to Purchaser or Purchaser's nominees. Title to be conveyed shall be good and marketable, subject only to [specify acceptable liens, encumbrances, restrictions, easements and other burdens]. Property is presently occupied by [number] tenants under month-to-month tenancies or leases, as set forth in Exhibit B, which is attached and made a part of this agreement. Transfer of title and possession to property shall be subject to those tenancies, but all right, title and interest of Seller in property shall be transferred to Purchaser or its nominees at the time of conveyance of title. Conveyance of title shall be made and sale closed within [number] days after the date of this agreement. Title shall be evidenced by a standard form title insurance policy issued by [name of title company], insuring title to property to be in Purchaser or its nominees, subject only to the matters set forth in this agreement ASSESSMENTS If, at the time of transfer of title, property or any part of property is subject to an assessment or assessments payable in installments, all such installments not due or delinquent at the time of transfer shall nevertheless be deemed to be due and payable at such time and as liens on the real property described above, and all such assessments shall be paid and discharged by Seller. ESCROW; PRO-RATION Escrow shall be opened with [name of escrow company]. Such instructions as the escrow company may require, not inconsistent with the provisions of this agreement, shall be signed and filed by the parties. The following items shall be prorated as of the close of escrow: rentals, real estate taxes due but not delinquent, prepaid insurance premiums [add other items, as appropriate]. Escrow shall close when the escrow company is in a position to record all documents required under this agreement, make all disbursements, and [issue or secure] a title insurance policy. RISK OF LOSS; MAINTENANCE; TRANSFER OF POSSESSION Risk of loss or damage by fire or other casualty to property or any part of property prior to close of escrow shall be the risk of Seller. In the event of such loss or damage prior to closing, this agreement shall not be affected but Seller shall assign to Purchaser all rights under any insurance policy or policies applicable to the loss. If action is necessary to recover under any casualty policy, Seller shall grant permission to bring the action in Seller's name. Improvements and personal property described above shall be maintained in their present condition prior to the close of escrow by Seller, wear from normal and reasonable use and deterioration excepted. Possession of property, subject to the leases and tenancies referred to above, shall be transferred at close of escrow. COMMERCIAL ZONING Seller warrants that property is zoned for commercial purposes and that all existing uses are lawful and within such zoning. Purchaser plans the use of property for [describe purposes]. Purchaser intends to apply for a [building permit or as the case may be] for such additional use, and for appropriate amendments to the existing zoning plan for the area in which property is located. Seller will cooperate fully with Purchaser with respect to the contemplated plans. If Purchaser is unable to proceed with the described project because of any adverse decision of [city], or any board, commission, or officer of [city], Purchaser shall [state agreed remedy, such as: remit [AMOUNT of the purchase price by crediting that amount on the purchase-money mortgage to be executed by Purchaser in favor of Seller]. BROKER'S COMMISSION A commission of [AMOUNT] has become due from Seller to [name of broker] by reason of the sale provided for in this agreement. That amount shall be paid to broker at close of escrow directly, from cash payable on close to Seller. 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GRANT OF LEASE Landlord, in consideration of the rents to be paid and the covenants and agreements to be performed and observed by the Tenant, does hereby lease to the Tenant and the Tenant does hereby lease and take from the Landlord the property described in Exhibit \"A\" attached hereto and by reference made a part hereof (the \"Leased Premises\"), together with, as part of the parcel, all improvements located thereon. LEASE TERM Total Term of Lease: The term of this Lease shall begin on the commencement date, as defined in Section b) of this Article 3, and shall terminate on [DATE]. Commencement Date: The \"Commencement Date\" shall mean the date on which the Tenant shall commence to conduct business on the Leased Premised, so long as such date is not in excess of [NUMBER] days subsequent to execution hereof. EXTENSIONS The parties hereto may elect to extend this Agreement upon such terms and conditions as may be agreed upon in writing and signed by the parties at the time of any such extension. DETERMINATION OF RENT The Tenant agrees to pay the Landlord and the Landlord agrees to accept, during the term hereof, at such place as the Landlord shall from time to time direct by notice to the Tenant, rent at the following rates and times: Annual Rent: Annual rent for the term of the Lease shall be [AMOUNT], plus applicable sales tax. Payment of Yearly Rent: The annual rent shall be payable in advance in equal monthly installments of one-twelfth (1/12th) of the total yearly rent, which shall be [AMOUNT], on the first day of each and every calendar month during the term hereof, and prorata for the fractional portion of any month, except that on the first day of the calendar month immediately following the Commencement Date, the Tenant shall also pay to the Landlord rent at the said rate for any portion of the preceding calendar month included in the term of this Lease. Reference to yearly rent hereunder shall not be implied or construed to the effect that this Lease or the obligation to pay rent hereunder is from year to year, or for any term shorter than the existing Lease term, plus any extensions as may be agreed upon. A late fee in the amount of [AMOUNT] shall be assessed if payment is not postmarked or received by Landlord on or before the tenth day of each month. USE OF PROPERTY BY TENANT The Leased Premises may be occupied and used by Tenant exclusively as a [DESCRIBE], to be known as a [DESCRIBE]. Nothing herein shall give Tenant the right to use the property for any other purpose or to sublease, assign, or license the use of the property to any Sub-Tenant, assignee, or licensee, which or who shall use the property for any other use. RESTRICTIONS ON USE Tenant shall not use the demised premises in any manner that will increase risks covered by insurance on the demised premises and result in an increase in the rate of insurance or a cancellation of any insurance policy, even if such use may be in furtherance of Tenant's business purposes. Tenant shall not keep, use, or sell anything prohibited by any policy of fire insurance covering the demised premises, and shall comply with all requirements of the insurers applicable to the demised premises necessary to keep in force the fire and liability insurance. WASTE, NUISANCE, OR UNLAWFUL ACTIVITY Tenant shall not allow any waste or nuisance on the demised premises, or use or allow the demised premises to be used for any unlawful purpose. DELAY IN DELIVERING POSSESSION This lease agreement shall not be rendered void or voidable by the inability of Landlord to deliver possession to Tenant on the date set forth in Section 3. Landlord shall not be liable to Tenant for any loss or damage suffered by reason of such a delay; provided, however, that Landlord does deliver possession no later than [date]. In the event of a delay in delivering possession, the rent for the period of such delay will be deducted from the total rent due under this lease agreement. No extension of this lease agreement shall result from a delay in delivering possession. SECURITY DEPOSIT The Tenant has deposited with the Landlord the sum of [AMOUNT] as security for the full and faithful performance by the Tenant of all the terms of this lease required to be performed by the Tenant. Such sum shall be returned to the Tenant after the expiration of this lease, provided the Tenant has fully and faithfully carried out all of its terms. In the event of a bona fide sale of the property of which the leased premises are a part, the Landlord shall have the right to transfer the security to the purchaser to be held under the terms of this lease, and the Landlord shall be released from all liability for the return of such security to the Tenant. TAXES Property Taxes: The Tenant shall be liable for all taxes levied against any leasehold interest of the Tenant or personal property and trade fixtures owned or placed by the Tenant in the Leased Premises. Real Estate Taxes: During the continuance of this lease Landlord shall deliver to Tenant a copy of any real estate taxes and assessments against the Leased Property. From and after the Commencement Date, the Tenant shall pay to Landlord not later than [NUMBER] days after the day on which the same may become initially due, all real estate taxes and assessments applicable to the Leased Premises, together with any interest and penalties lawfully imposed thereon as a result of Tenant's late payment thereof, which shall be levied upon the Leased Premises during the term of this Lease. Contest of Taxes: The Tenant, at its own cost and expense, may, if it shall in good faith so desire, contest by appropriate proceedings the amount of any personal or real property tax. The Tenant may, if it shall so desire, endeavor at any time or times, by appropriate proceedings, to obtain a reduction in the assessed valuation of the Leased Premises for tax purposes. In any such event, if the Landlord agrees, at the request of the Tenant, to join with the Tenant at Tenant's expense in said proceedings and the Landlord agrees to sign and deliver such papers and instruments as may be necessary to prosecute such proceedings, the Tenant shall have the right to contest the amount of any such tax and the Tenant shall have the right to withhold payment of any such tax, if the statute under which the Tenant is contesting such tax so permits. Payment of Ordinary Assessments: The Tenant shall pay all assessments, ordinary and extraordinary, attributable to or against the Leased Premises not later than [NUMBER] days after the day on which the same became initially due. The Tenant may take the benefit of any law allowing assessments to be paid in installments and in such event the Tenant shall only be liable for such installments of assessments due during the term hereof. ","Commercial Lease Agreement","19",145,"https://templates.business-in-a-box.com/imgs/1000px/lease-agreement-D1179.png","https://templates.business-in-a-box.com/imgs/250px/1179.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#1179.xml",{"title":6,"description":6},[96,98],{"label":17,"url":97},"real-estate-business",{"label":20,"url":99},"business-checklists","lease agreement","/template/lease-agreement-D1179",{"description":103,"descriptionCustom":6,"label":104,"pages":105,"size":106,"extension":10,"preview":107,"thumb":108,"svgFrame":109,"seoMetadata":110,"parents":112,"keywords":116,"url":117},"[DATE] [CONTACT NAME] [ADDRESS] [ADDRESS 2] [CITY, STATE/PROVINCE] [ZIP/POSTAL CODE] SUBJECT: LETTER OF INTENT-ACQUISITION OF BUSINESS Dear [CONTACT NAME]: This letter (\"Letter of Intent\") sets forth the basic preliminary terms between the Buyer or his nominee and yourselves regarding the purchase of the [SPECIFY] business (the \"Business\") carried on by yourselves. Except as specifically set forth herein, this Letter of Intent shall not constitute an agreement between the parties and no agreement shall be deemed to exist until execution of a definitive purchase agreement. It is proposed that Buyer will acquire certain assets of the Business which Buyer believes to be necessary to the future of the Business, including the warehouse in [CITY/STATE] in which [COMPANY NAME] the Company has invested [AMOUNT] in cash and which has been financed by a mortgage loan of approximately [AMOUNT] granted by the [SPECIFY COMPANY] [CITY/STATE]. Buyer understands that the said warehouse has no other charges or liabilities affecting it other than the said mortgage loan. Buyer may either purchase the warehouse outright or enter into a lease-purchase or instalment transfer of ownership which is satisfactory to both parties. The gross purchase price for the said warehouse will be [AMOUNT]. Buyer may purchase or lease barrels and other equipment currently owned by the Company which are necessary to operate the Business, on a cash or instalment basis agreeable to both parties. The specific assets to be purchased and the amounts to be paid by Buyer in connection with this transaction remain to be negotiated by the parties. This Letter of Intent also evidences the intentions of the parties with respect to the following agreements: Buyer will enter into a [NUMBER]-year employment agreement with [COMPANY NAME], providing for the Company will be responsible for the purchase of [SPECIFY] for Buyer. The agreement will contain the customary terms and conditions found in employment agreements in similar transactions and will provide for the usual non-competition and non-solicitation covenants to be entered into by the Company in favour of Buyer. It is expressly understood that if the contemplated transaction is consummated, the aggregate amount of commission paid or payable to yourselves (net of reasonable expenses acceptable to Buyer) in respect of all purchases of [SPECIFY] made through you from the date of this Letter of Intent to the date of closing, with the exception of commissions earned on the [NUMBER] truckloads of [SPECIFY] to be delivered to Buyer during the week of [DATE] to [DATE], will be applied against remuneration payable to the Company in the first year of his employment agreement. If the contemplated transaction is not consummated, all such commissions paid or payable will be treated as commissions. Buyer will enter into a [NUMBER]-year employment agreement with [EMPLOYEE NAME], providing for the payment of a gross base salary of [ANNUAL SALARY] per year, to be paid weekly, subject to annual review. [EMPLOYEE NAME] will be President of the Business and the employment agreement will provide for health benefits, automobile, expenses and bonus arrangements","Letter of Intent_Acquisition of Business","3",513,"https://templates.business-in-a-box.com/imgs/1000px/letter-of-intent_acquisition-of-business-D5197.png","https://templates.business-in-a-box.com/imgs/250px/5197.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#5197.xml",{"title":111,"description":6},"letter of intent_acquisition of business",[113,115],{"label":33,"url":114},"business-legal-agreements",{"label":33,"url":114},"letter intent_acquisition business","/template/letter-of-intent_acquisition-of-business-D5197",{"description":119,"descriptionCustom":6,"label":120,"pages":121,"size":122,"extension":10,"preview":123,"thumb":124,"svgFrame":125,"seoMetadata":126,"parents":127,"keywords":134,"url":135},"OPTION TO BUY AGREEMENT This Option to Buy Agreement (the \"Agreement\") is made and effective [DATE] BETWEEN: [YOUR COMPANY NAME] (the \"Owner\"), a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] AND: [NAME] (the \"Buyer\"), an individual with his principal place of living located at: [COMPLETE ADDRESS] Buyer hereby pays to Owner the sum of $[AMOUNT] in consideration for this option, which option [SHALL OR SHALL NOT] be credited to the purchase price if option exercised.","Option to Buy Agreement","1",29,"https://templates.business-in-a-box.com/imgs/1000px/option-to-buy-agreement-D336.png","https://templates.business-in-a-box.com/imgs/250px/336.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#336.xml",{"title":6,"description":6},[128,131],{"label":129,"url":130},"Finance & Accounting","finance-accounting",{"label":132,"url":133},"Buy & Sell Shares","buy-sell-shares","option to buy agreement","/template/option-to-buy-agreement-D336",{"description":137,"descriptionCustom":6,"label":138,"pages":139,"size":140,"extension":10,"preview":141,"thumb":142,"svgFrame":143,"seoMetadata":144,"parents":145,"keywords":148,"url":149},"AGREEMENT OF PURCHASE AND SALE OF BUSINESS ASSETS This Agreement of Purchase and Sale (the \"Agreement\") is made in two original copies, effective [DATE] BETWEEN: [YOUR COMPANY NAME] (the \"Vendor\"), a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] AND: [PURCHASER NAME] (the \"Purchaser\"), an individual with his main address located at OR a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] SUBJECT-MATTER The Purchaser agrees to buy and the Vendor agrees to sell to the Purchaser as a going concern all the undertaking and assets owned by the Vendor in connection with the [TYPE OF BUSINESS] business carried on as [YOUR COMPANY NAME] at [YOUR COMPLETE ADDRESS] (the \"business\") including, without limiting the generality of the foregoing: The furniture, fixtures and equipment more particularly described in Schedule A (the \"equipment\"); All saleable stock in trade (the \"stock in trade\"); All useable parts and supplies (the \"parts and supplies\"); All leasehold interest in the lease held by the Vendor from [NAME OF LANDLORD] (the \"lease\"); The goodwill of the business together with the exclusive right to the Purchaser to represent itself as carrying on business in succession to the Vendor and to use the business style of the business and variations in the business to be carried on by the Purchaser (the \"goodwill\"). The following assets are expressly excluded from the purchase and sale: [LIST EXCLUSIONS, e.g. cash on hand or on deposit, accounts receivable, book and other debts due or accruing due]. PURCHASE PRICE The purchase price payable for the undertaking and assets agreed to be bought and sold is the total of the amounts computed and allocated as follows: For the equipment - [AMOUNT]; For the stock in trade, its direct cost to the Vendor; For the parts and supplies, their direct cost to the Vendor; For the goodwill - [AMOUNT]; For all other assets agreed to be bought and sold. The purchase price for the stock in trade shall be established by an inventory taken and valued after close of business on the day before the day of closing. The Vendor shall produce evidence satisfactory to the Purchaser of the direct cost to the Vendor of items included in stock in trade. The Purchaser may exclude from the purchase and sale any items which the Purchaser reasonably considers unsaleable by reason of defect in quality or in respect of which the Purchaser is not reasonably satisfied as to proof of direct cost. The purchase price for the parts and supplies shall be established by an inventory taken and valued after close of business on the day before the day of closing. The Vendor shall produce evidence satisfactory to the Purchaser of the direct cost to the Vendor of items included in the parts and supplies. The Purchaser may exclude from the purchase and sale any items which the Purchaser reasonably considers unusable or in respect of which the Purchaser is not reasonably satisfied as to proof of direct cost. TERMS OF PAYMENT The Vendor acknowledges receiving a check for [AMOUNT] from the Purchaser on execution of this agreement to be held as a deposit by the Vendor on account of the purchase price of the undertaking and assets agreed to be bought and sold and as security for the Purchaser's due performance of this agreement. The balance of the purchase price for the undertaking and assets agreed to be bought and sold shall be paid, subject to adjustments, by certified check on closing. The balance of the purchase price due on closing shall be specially adjusted for all prepaid and assumed operating expenses of the business including but not limited to rent and utilities. CONDITIONS, REPRESENTATIONS AND WARRANTIES In addition to anything else in this agreement, the following are conditions of completing this agreement in favor of the Purchaser: That the Purchaser obtain financing on terms satisfactory to it to complete the purchase; that the carrying on of the business at its present location is not prohibited by land use restrictions; That the lessor of the lease consents to its assignment to the Purchaser; That the Purchaser obtain all the permits and licenses required for it to carry on the business; That the Vendor supply or deliver on closing all of the closing documents; That the premises shall be in the same condition, reasonable wear and tear expected, on the date of passing as they are currently in; That Seller's board of directors has duly authorized the execution of this agreement. The following representations and warranties are made and given by the Vendor to the Purchaser and expressly survive the closing of this agreement. The representations are true as of the date of this agreement and will be true as of the date of closing when they shall continue as warranties according to their terms. At the option of the Purchaser, the representations and warranties may be treated as conditions of the closing of this agreement in favor of the Purchaser. However, the closing of this agreement shall not operate as a waiver or otherwise result in a merger to deprive the Purchaser of the right to sue the Vendor for breach of warranty in respect of any matter warranted, whether or not ascertained by the Purchaser prior to closing: The Vendor is a resident of [YOUR COUNTRY] within the meaning of the Income Tax Act of [YOUR COUNTRY]; The Vendor owns and has the right to sell the items listed in Schedule A; The assets agreed to be bought and sold are sold free and clear of all liens, encumbrances and charges; The equipment is in good operating condition; ","Agreement of Purchase and Sale of Business Assets","5",65,"https://templates.business-in-a-box.com/imgs/1000px/agreement-of-purchase-and-sale-of-business-assets-D318.png","https://templates.business-in-a-box.com/imgs/250px/318.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#318.xml",{"title":6,"description":6},[146,147],{"label":129,"url":130},{"label":132,"url":133},"agreement purchase sale business assets","/template/agreement-of-purchase-and-sale-of-business-assets-D318",{"description":151,"descriptionCustom":6,"label":152,"pages":105,"size":106,"extension":10,"preview":153,"thumb":154,"svgFrame":155,"seoMetadata":156,"parents":158,"keywords":157,"url":163},"NON-DISCLOSURE AGREEMENT (NDA) This Non-Disclosure Agreement (the \"Agreement\") is made and effective [DATE], BETWEEN: [YOUR COMPANY NAME] (the \"Disclosing Party\"), a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] AND: [RECEIVING PARTY NAME] (the \"Receiving Party\"), an individual with his main address located at OR a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] WHEREAS, Receiving Party has been or will be engaged in the performance of work on [DESCRIBE]; and in connection therewith will be given access to certain confidential and proprietary information; and WHEREAS, Receiving Party and Disclosing Party wish to evidence by this Agreement the manner in which said confidential and proprietary material will be treated. NOW, THEREFORE, it is agreed as follows: NON-DISCLOSURE OF CONFIDENTIAL INFORMATION Both Parties understand and agree that each Party may have access to the confidential information of the other party. For the purposes of this Agreement, \"Confidential Information\" means proprietary and confidential information about the Disclosing Party's (or it's suppliers') business or activities. Such information includes all business, financial, technical, and other information marked or designated by such Party as \"confidential\" or \"proprietary.\" Confidential Information also includes information which, by the nature of the circumstances surrounding the disclosure, ought in good faith to be treated as confidential. For the purposes of this Agreement, Confidential Information does not include: Information that is currently in the public domain or that enters the public domain after the signing of this Agreement. Information a Party lawfully receives from a third Party without restriction on disclosure and without breach of a non-disclosure obligation. Information that the Receiving Party knew prior to receiving any Confidential Information from the Disclosing Party. Information that the Receiving Party independently develops without reliance on any Confidential Information from the Disclosing Party. Each Party agrees that it will not disclose to any third Party or use any Confidential Information disclosed to it by the other Party except when expressly permitted in writing by the other Party. Each Party also agrees that it will take all reasonable measures to maintain the confidentiality of all Confidential Information of the other Party in its possession or control. TERM The term of this Agreement is [number] of [years/months] from the date of execution by both Parties. TITLE The Receiving Party agrees that all Confidential Information furnished by the Disclosing Party shall remain the sole property of the Disclosing Party. DISCLAIMER","Non Disclosure Agreement Nda","https://templates.business-in-a-box.com/imgs/1000px/non-disclosure-agreement-nda-D12692.png","https://templates.business-in-a-box.com/imgs/250px/12692.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#12692.xml",{"title":157,"description":6},"non disclosure agreement nda",[159,160],{"label":33,"url":114},{"label":161,"url":162},"Confidentiality Agreements","confidentiality-agreement","/template/non-disclosure-agreement-nda-D12692",{"description":165,"descriptionCustom":6,"label":166,"pages":167,"size":106,"extension":10,"preview":168,"thumb":169,"svgFrame":170,"seoMetadata":171,"parents":173,"keywords":172,"url":180},"CHECKLIST CUSTOMER DUE DILIGENCE Customer Due Diligence (CDD) is a critical process to ensure compliance with regulatory standards and safeguard against financial crimes. This checklist outlines the essential steps for effective CDD, from initial customer contact to ongoing monitoring and record-keeping. Gathering Customer Information: Individual Customers Full Name: Date of Birth: Nationality: Residential Address: Mailing Address (if different): Contact Number: Email Address: Identification Type (e.g., Passport, Driver's License): Identification Number: Issuing Country/Authority: Expiry Date of Identification Document: Corporate Customers Company Name: Registration Number: Country of Incorporation: Registered Address: Business Address (if different): Nature of Business: Date of Incorporation: Contact Number: Email Address: Website (if any): Directors' Names and Details: Ultimate Beneficial Owners (UBOs) Names and Details: Shareholding Structure: Identity Verification: Verify Identity Documents Document Verification (type of document, number, expiration date) Biometric Verification (if applicable) Verify Address Utility Bill Bank Statement Lease Agreement Additional Verification (if needed): Biometric Authentication Passive Liveness Detection Risk Assessment: Customer Type (Individual/Business): Customer Segment (Retail/Corporate): Industry: Expected Account Activity (Transaction Types, Volumes, and Values): Source of Funds: Purpose of the Account: Geographical Risk (Customer's Country of Origin/Operation): Any High-Risk Indicators (e.g., PEP, sanctions, negative media): Risk Profile Determination (Low, Medium, High): Enhanced Due Diligence (EDD) for High-Risk Customers:","Checklist Customer Due Diligence","4","https://templates.business-in-a-box.com/imgs/1000px/checklist-customer-due-diligence-D13916.png","https://templates.business-in-a-box.com/imgs/250px/13916.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#13916.xml",{"title":172,"description":6},"checklist customer due diligence",[174,177],{"label":175,"url":176},"Business Plan Kit","business-plan-kit",{"label":178,"url":179},"Business Procedures","business-procedures","/template/checklist-customer-due-diligence-D13916",false,{"seo":183,"reviewer":195,"legal_disclaimer":199,"quick_facts":200,"at_a_glance":202,"personas":206,"variants":231,"glossary":259,"clauses":296,"how_to_fill":347,"common_mistakes":388,"faqs":413,"industries":441,"comparisons":458,"diy_vs_lawyer":471,"jurisdictions":484,"related_template_ids_curated":505,"schema":515,"classification":516},{"meta_title":184,"meta_description":185,"primary_keyword":186,"secondary_keywords":187},"Contract of Sale of Commercial Property Template (Free Word)","Free commercial property sale contract template covering price, deposit, conditions, title, and settlement. Used in 190+ countries. Free Word and PDF download.","contract of sale of commercial property",[188,189,190,191,192,193,194],"commercial property sale agreement template","commercial real estate purchase agreement","commercial property contract template word","commercial property sale contract free","commercial real estate contract template","purchase and sale agreement commercial property","commercial property conveyancing contract",{"name":196,"credential":197,"reviewed_date":198},"Bruno Goulet","CEO, Business in a Box","2026-05-02",true,{"difficulty":201,"legal_review_recommended":199,"signature_required":199,"notarization_required":181},"advanced",{"what_it_is":203,"when_you_need_it":204,"whats_inside":205},"A Contract of Sale of Commercial Property is a legally binding agreement between a seller and a buyer that sets out every term governing the transfer of a commercial real estate asset — price, deposit, settlement date, conditions precedent, title warranties, and risk allocation. This free Word download gives you a structured starting point you can edit online and export as PDF before having a qualified real estate lawyer review it for your specific transaction.\n","Use it when buying or selling an office building, retail premises, industrial site, warehouse, or any other income-producing or commercially zoned real estate asset. It is required before any deposit changes hands and before the parties are legally bound to complete the transaction.\n","Identification of parties and property, purchase price and deposit mechanics, conditions precedent (finance, due diligence, planning), title and encumbrance warranties, risk and insurance provisions, GST or VAT treatment, settlement obligations, default and termination rights, and governing law.\n",[207,211,215,219,223,227],{"title":208,"use_case":209,"icon_asset_id":210},"Business owners purchasing premises","Buying the building they operate from to stop paying rent","persona-small-business-owner",{"title":212,"use_case":213,"icon_asset_id":214},"Commercial property investors","Acquiring an income-producing asset with tenants already in place","persona-investor",{"title":216,"use_case":217,"icon_asset_id":218},"Developers","Purchasing vacant commercial land or an existing building for redevelopment","persona-developer",{"title":220,"use_case":221,"icon_asset_id":222},"Vendors selling commercial assets","Documenting the agreed sale terms before engaging a conveyancer","persona-entrepreneur",{"title":224,"use_case":225,"icon_asset_id":226},"Commercial real estate agents","Preparing a heads-of-agreement or draft contract to present to a vendor","persona-real-estate-agent",{"title":228,"use_case":229,"icon_asset_id":230},"Corporate M&A or finance teams","Structuring the property component of a larger business asset sale","persona-cfo",[232,236,239,243,247,251,255],{"situation":233,"recommended_template":234,"slug":235},"Buying or selling a residential property instead of a commercial one","Residential Property Sale Contract","contract-of-sale-of-commercial-property-D1169",{"situation":237,"recommended_template":88,"slug":238},"Leasing commercial premises rather than purchasing them outright","lease-agreement-D1179",{"situation":240,"recommended_template":241,"slug":242},"Purchasing a business together with the property it occupies","Business Sale Agreement","agreement-of-purchase-and-sale-of-business-assets-D318",{"situation":244,"recommended_template":245,"slug":246},"Documenting agreed deal terms before the full contract is drafted","Letter of Intent (Real Estate)","deed-of-sale-real-estate-property-D1172",{"situation":248,"recommended_template":249,"slug":250},"Selling commercial land only, with no structures","Vacant Land Sale Contract","land-purchase-agreement-D13424",{"situation":252,"recommended_template":253,"slug":254},"Transferring property between related entities or as part of a corporate restructure","Property Transfer Agreement","assignment-of-real-estate-contract-D1158",{"situation":256,"recommended_template":257,"slug":258},"Granting the buyer an option to purchase before committing to a full contract","Option to Purchase Agreement","option-to-buy-agreement-D336",[260,263,266,269,272,275,278,281,284,287,290,293],{"term":261,"definition":262},"Vendor","The party selling the commercial property — also called the seller.",{"term":264,"definition":265},"Purchaser","The party buying the commercial property — also called the buyer.",{"term":267,"definition":268},"Settlement Date","The specific date on which the balance of the purchase price is paid and legal ownership of the property transfers to the purchaser.",{"term":270,"definition":271},"Deposit","A sum — typically 5–10% of the purchase price — paid by the purchaser on exchange of contracts as a sign of commitment, held in trust until settlement.",{"term":273,"definition":274},"Condition Precedent","A contractual requirement that must be satisfied or waived before either party is obligated to complete the transaction — common examples include finance approval and satisfactory due diligence.",{"term":276,"definition":277},"Title Search","A search of the official land register to confirm the vendor's ownership, identify any mortgages or encumbrances registered against the property, and verify there are no title defects.",{"term":279,"definition":280},"Encumbrance","Any registered interest, mortgage, easement, covenant, or caveat that burdens the title and may affect the purchaser's ability to use or deal with the property.",{"term":282,"definition":283},"Cooling-Off Period","A statutory window — typically 2–5 business days in jurisdictions that allow it — during which a purchaser may rescind a property contract by giving written notice and forfeiting a small penalty.",{"term":285,"definition":286},"GST / VAT on Commercial Property","In many jurisdictions, the sale of commercial property is subject to goods and services tax or value-added tax; whether the margin scheme or a going-concern exemption applies depends on the specific transaction.",{"term":288,"definition":289},"Settlement Adjustments","Prorated apportionments of outgoings — rates, land tax, body corporate levies, rent — calculated as at the settlement date so each party pays their proportionate share.",{"term":291,"definition":292},"Caveat","A formal notice lodged on the land title by a third party claiming an interest in the property, which prevents certain dealings until the claim is resolved or the caveat lapses.",{"term":294,"definition":295},"Going Concern","A GST/VAT exemption available when a commercial property is sold with an existing tenancy and the business of leasing the property continues without interruption after settlement.",[297,302,307,312,317,322,327,332,337,342],{"name":298,"plain_english":299,"sample_language":300,"common_mistake":301},"Parties, property description, and title","Identifies the vendor and purchaser by full legal name, describes the property by its registered title reference or legal description, and confirms the vendor's capacity to sell.","The Vendor, [VENDOR FULL LEGAL NAME] of [ADDRESS], agrees to sell, and the Purchaser, [PURCHASER FULL LEGAL NAME] of [ADDRESS], agrees to purchase, the property described as [FULL PROPERTY DESCRIPTION AND TITLE REFERENCE] in [JURISDICTION].","Using a trading name or individual director's name instead of the registered legal entity. If the contracting party doesn't match the registered title holder, the contract cannot be completed without a corrective deed.",{"name":303,"plain_english":304,"sample_language":305,"common_mistake":306},"Purchase price and deposit","States the total price, the deposit amount and percentage, when it is payable, who holds it in trust, and what happens to it on default by either party.","The Purchase Price is $[AMOUNT]. The Purchaser shall pay a deposit of $[DEPOSIT AMOUNT] ([X]% of the Purchase Price) to [STAKEHOLDER NAME] as stakeholder within [X] business days of exchange. The deposit shall be released to the Vendor on settlement.","Not specifying who holds the deposit and on what conditions it is released. If the deposit stakeholder and release trigger are not defined, disputes about entitlement to the deposit on a failed transaction can be costly to resolve.",{"name":308,"plain_english":309,"sample_language":310,"common_mistake":311},"Conditions precedent","Lists the conditions — typically finance approval, due diligence, and planning consents — that must be satisfied or waived by a specified date before the parties are bound to proceed to settlement.","This Contract is conditional upon: (a) the Purchaser obtaining unconditional finance approval for not less than $[AMOUNT] by [DATE]; (b) the Purchaser completing due diligence to its satisfaction by [DATE]. If any condition is not satisfied or waived by the relevant date, either party may rescind this Contract by written notice.","Setting a finance condition date with too little lead time — lenders routinely require 14–21 business days for commercial loan approval. A condition that expires before approval is obtained forces the purchaser to waive or rescind.",{"name":313,"plain_english":314,"sample_language":315,"common_mistake":316},"Due diligence and inspection rights","Grants the purchaser the right to inspect the property, review tenancy schedules, outgoings, environmental reports, building reports, and statutory certificates before the due diligence condition expires.","From the date of exchange until [DATE], the Purchaser and its agents shall have reasonable access to the Property during business hours on [X] business days' notice to conduct inspections, surveys, and reviews of the Property and all Documentation provided by the Vendor.","Granting broad inspection rights without a carve-out requiring the purchaser to make good any damage caused during inspection. Purchasers who remove asbestos samples or core-drill slabs without a reinstatement obligation create real liability.",{"name":318,"plain_english":319,"sample_language":320,"common_mistake":321},"Title, encumbrances, and warranties","The vendor warrants that title is clear of undisclosed encumbrances, that all registered interests will be discharged by settlement, and that there are no unregistered agreements affecting the property.","The Vendor warrants that at settlement: (a) title shall be free of all mortgages and encumbrances other than those disclosed in Schedule [X]; (b) all rates, taxes, and outgoings shall be paid to the settlement date; (c) no notices, orders, or requisitions affecting the Property remain outstanding.","Disclosing encumbrances in a schedule but failing to confirm which will be discharged at settlement and which will run with the land. Purchasers often discover post-settlement that a disclosed easement or covenant imposes unexpected restrictions on use.",{"name":323,"plain_english":324,"sample_language":325,"common_mistake":326},"Tenancies and outgoings","Schedules all existing leases, their terms, rent, review dates, options, and any arrears, and apportions ongoing outgoings — rates, insurance, land tax — between vendor and purchaser at settlement.","The Property is sold subject to the existing tenancies listed in Schedule [X]. Rent and outgoings shall be adjusted as at the Settlement Date. The Vendor warrants that no tenant is in arrears exceeding [X] days as at the date of this Contract.","Omitting arrears warranties for investment property acquisitions. A purchaser who inherits six months of rent arrears has no contractual remedy unless the vendor warranted the tenants were current-paying at exchange.",{"name":328,"plain_english":329,"sample_language":330,"common_mistake":331},"Risk, insurance, and damage between exchange and settlement","Allocates the risk of loss or damage to the property during the period between exchange of contracts and settlement, and requires the vendor to maintain adequate insurance until settlement.","Risk in the Property passes to the Purchaser on the Settlement Date. The Vendor shall maintain its current insurance over the Property until settlement. If the Property is materially damaged or destroyed before settlement, the Purchaser may rescind this Contract or proceed with an abatement of the Purchase Price equal to the cost of reinstatement.","Failing to define 'material damage' with a threshold — for example, damage exceeding 5% of the purchase price. Without a threshold, parties dispute whether minor storm damage entitles the purchaser to rescind.",{"name":333,"plain_english":334,"sample_language":335,"common_mistake":336},"GST / VAT treatment","States whether the sale is subject to GST or VAT, identifies the applicable rate or exemption (going concern, margin scheme, or input-taxed supply), and allocates the tax between the parties.","The parties agree that the sale of the Property is a supply of a going concern for GST purposes, and accordingly no GST is payable on the Purchase Price, provided the Purchaser is registered for GST at settlement. If the going concern exemption does not apply, GST of [X]% shall be payable in addition to the Purchase Price.","Not confirming both parties' GST registration status before nominating a going-concern exemption. If the purchaser is not registered for GST at settlement, the exemption fails and the vendor becomes liable for the full GST — typically 10–20% of the price.",{"name":338,"plain_english":339,"sample_language":340,"common_mistake":341},"Settlement obligations and adjustment statement","Defines what each party must do on the settlement date — vendor delivers clear title and keys; purchaser pays the balance price — and requires production of a settlement adjustment statement calculating prorated outgoings.","Settlement shall occur on [SETTLEMENT DATE] at [TIME] at [LOCATION] or as otherwise agreed. The Vendor shall deliver a signed transfer, discharge of mortgage, and keys. The Purchaser shall pay $[BALANCE] plus or minus adjustments in accordance with the Adjustment Statement prepared by [PARTY] not less than [X] business days before settlement.","Not specifying who prepares the adjustment statement and by when. If both parties prepare their own statement without a single agreed version, settlement is routinely delayed by calculation disputes on the day.",{"name":343,"plain_english":344,"sample_language":345,"common_mistake":346},"Default, termination, and remedies","States what constitutes a default by either party, the notice required before exercising termination rights, whether time is of the essence for settlement, and the remedies available — including retention of deposit, specific performance, and damages.","Time is of the essence for settlement. If the Purchaser defaults, the Vendor may, after giving [X] business days' written notice, terminate this Contract and forfeit the deposit. If the Vendor defaults, the Purchaser may terminate and recover the deposit plus damages. Neither party excludes the right to seek specific performance.","Omitting a 'time of the essence' clause. Without it, a party who misses the settlement date cannot immediately terminate — they must serve a further notice making time essential and allowing additional time to perform, which can delay resolution by weeks.",[348,353,358,363,368,373,378,383],{"step":349,"title":350,"description":351,"tip":352},1,"Confirm the legal names and capacities of both parties","Enter the full registered legal name of the vendor entity and the purchaser entity exactly as they appear on their respective corporate or title documents. If a trustee is contracting on behalf of a trust, note the trustee capacity.","Run a company or business-name search the day you fill the template — name changes and deregistrations happen and create completion risk.",{"step":354,"title":355,"description":356,"tip":357},2,"Insert the full property description and title reference","Copy the lot and plan number, certificate of title reference, or legal description from a current title search rather than a rates notice or old contract. Include the street address as a secondary identifier only.","Order a current title search before exchange — undisclosed caveats or newly registered mortgages can surface and change the deal.",{"step":359,"title":360,"description":361,"tip":362},3,"Set the purchase price, deposit amount, and deposit holder","Enter the agreed price, calculate the deposit (typically 10% for commercial transactions), specify the number of business days after exchange for payment, and name the stakeholder — usually the vendor's lawyer or the agent's trust account.","Negotiate for the deposit to be held in an interest-bearing trust account; on large transactions the interest earned over a 60–90 day settlement period is material.",{"step":364,"title":365,"description":366,"tip":367},4,"Draft the conditions precedent with realistic deadlines","List every condition — finance, due diligence, planning, environmental — and assign a specific calendar date for each. Allow at least 15 business days for commercial finance approval and 10 business days for due diligence review.","Build in a mutual-extension mechanism so both parties can agree in writing to extend a condition date without redrafting the whole contract.",{"step":369,"title":370,"description":371,"tip":372},5,"Complete the tenancy and outgoings schedules","Attach copies of all current leases and complete the tenancy schedule showing tenant name, rent, review dates, options, and any arrears as at the contract date. List all known outgoings — council rates, water, land tax, body corporate — with their annual amounts.","Require the vendor to warrant in writing that the tenancy schedule is accurate and complete — this is your contractual protection if a lease is omitted.",{"step":374,"title":375,"description":376,"tip":377},6,"Confirm GST registration status and tax treatment","Confirm both parties' GST or VAT registration numbers. Determine whether the going-concern exemption, margin scheme, or standard rate applies and complete the GST clause accordingly. State explicitly whether the purchase price is inclusive or exclusive of GST.","Get written confirmation from both parties' accountants on the GST treatment before exchange — a post-exchange GST dispute on a multi-million dollar transaction is extremely expensive to unwind.",{"step":379,"title":380,"description":381,"tip":382},7,"Set the settlement date and nominate the conveyancer","Enter a specific calendar date for settlement — 30, 45, or 60 days is common for commercial transactions. Identify the conveyancer or lawyer who will conduct settlement and confirm the settlement venue or electronic settlement platform.","For transactions above $1M, allow at least 45 days — bank valuations, FIRB approvals, and discharge of vendor mortgages routinely cause last-minute delays.",{"step":384,"title":385,"description":386,"tip":387},8,"Have a qualified real estate lawyer review before exchange","Send the completed template to a commercial property lawyer in the relevant jurisdiction before either party signs. The lawyer will check compliance with local conveyancing legislation, stamp duty obligations, and disclosure requirements.","Ask the lawyer to confirm whether a vendor's disclosure statement or property information certificate is required in your jurisdiction — non-disclosure can give the purchaser a right to rescind after exchange.",[389,393,397,401,405,409],{"mistake":390,"why_it_matters":391,"fix":392},"Contracting in the wrong entity name","If the vendor on the contract is not the registered title holder, the transfer cannot be registered without a corrective deed — delaying settlement and potentially triggering default provisions.","Order a current title search before preparing the contract and copy the registered proprietor's name exactly as it appears on the title.",{"mistake":394,"why_it_matters":395,"fix":396},"Setting unrealistic condition dates for finance approval","Commercial lenders routinely require 15–21 business days for credit approval, valuation, and formal offer. A 10-business-day condition date forces the purchaser to waive or rescind before approval arrives.","Allow a minimum of 15 business days for the finance condition and include a clause allowing the parties to extend by mutual written agreement without amending the contract.",{"mistake":398,"why_it_matters":399,"fix":400},"Omitting the GST treatment clause or leaving it ambiguous","On a $2M commercial property, an unexpected 10% GST liability equals $200,000. If the contract is silent, the vendor bears the risk of an ATO or HMRC assessment that the supply is taxable.","Confirm both parties' tax registration numbers before exchange, obtain accountant sign-off on the applicable treatment, and state explicitly in the contract whether the price is GST-inclusive, GST-exclusive, or GST-exempt.",{"mistake":402,"why_it_matters":403,"fix":404},"No 'time is of the essence' clause for settlement","Without it, a party who misses the settlement date cannot immediately terminate — they must serve a further notice allowing additional time, which can extend the dispute by weeks while the defaulting party looks for finance or a buyer.","Include an express clause stating time is of the essence for all settlement obligations, and specify the notice period and remedy sequence for default.",{"mistake":406,"why_it_matters":407,"fix":408},"Failing to schedule all existing tenancies","An investment property purchaser who discovers an undisclosed lease with below-market rent or an undisclosed option to renew has limited contractual remedies post-settlement if the lease was not warranted in the contract.","Attach a complete tenancy schedule and a vendor warranty that the schedule is accurate and that no other leases, licenses, or undisclosed arrangements affecting the property exist.",{"mistake":410,"why_it_matters":411,"fix":412},"No adjustment statement deadline before settlement","If the adjustment statement is not prepared and agreed at least 3 business days before settlement, parties arrive at settlement with different numbers and the transaction is delayed or collapses.","Specify in the contract that the adjustment statement must be issued by the vendor's lawyer at least 5 business days before settlement and agreed in writing before the settlement date.",[414,417,420,423,426,429,432,435,438],{"question":415,"answer":416},"What is a contract of sale of commercial property?","A contract of sale of commercial property is a legally binding agreement between a vendor and a purchaser that governs the transfer of a commercially zoned or income-producing real estate asset. It records the agreed purchase price, deposit mechanics, conditions the transaction is subject to, title warranties, tenancy details, tax treatment, and the settlement date on which ownership legally transfers. Once both parties sign, neither can withdraw without legal consequences unless a condition precedent fails or a default occurs.\n",{"question":418,"answer":419},"What is the difference between a commercial and a residential property sale contract?","Commercial property contracts are typically less regulated by consumer protection legislation than residential ones — cooling-off periods are often shorter or unavailable, disclosure requirements differ, and GST or VAT is commonly applicable. Commercial contracts also routinely include tenancy schedules, going-concern GST clauses, environmental warranties, and more heavily negotiated default and risk provisions. Residential templates should never be used for commercial transactions.\n",{"question":421,"answer":422},"What conditions precedent are typically included?","The most common conditions are finance approval (the purchaser obtaining unconditional loan approval by a specified date), due diligence (satisfactory review of leases, financial records, building reports, and environmental assessments), and planning or development approval where the purchaser intends to develop. Each condition must specify the deadline, what constitutes satisfaction, and whether the benefiting party can waive it unilaterally.\n",{"question":424,"answer":425},"Is GST payable on the sale of a commercial property?","In Australia, the US, the UK, Canada, and most EU jurisdictions, commercial property sales are generally subject to GST, VAT, or sales tax unless a specific exemption applies. In Australia, the going-concern exemption applies when the property is sold with an active tenancy and both parties are GST-registered. In the EU, VAT applies to commercial property unless the property qualifies as an exempt old building. Always confirm the tax treatment with an accountant before exchange, as the liability can be 10–25% of the purchase price.\n",{"question":427,"answer":428},"How large should the deposit be on a commercial property?","A 10% deposit is the most common commercial convention in Australia, the UK, and Canada. In the US, deposits on commercial transactions vary widely — earnest money of 1–5% of the purchase price is common, with the balance of any agreed deposit paid after due diligence clears. The deposit is typically held in the vendor's solicitor's or agent's trust account and released to the vendor on settlement or forfeited to the vendor on a purchaser default.\n",{"question":430,"answer":431},"What happens if the purchaser defaults on settlement?","If the purchaser fails to settle on the settlement date and time is of the essence, the vendor must typically serve a written default notice allowing a short cure period (often 5–10 business days). If the default is not remedied, the vendor may terminate the contract and forfeit the deposit. The vendor may also claim damages for any loss suffered beyond the deposit — for example, where the property is resold at a lower price. The vendor can alternatively seek specific performance through the courts to compel completion.\n",{"question":433,"answer":434},"Do I need a lawyer to complete a commercial property sale contract?","Yes, in almost every jurisdiction. Commercial property conveyancing involves title searches, stamp duty calculations, GST compliance, FIRB or foreign investment approvals where relevant, discharge of vendor mortgages, and registration of the transfer — all of which require a licensed conveyancer or solicitor. A template provides a solid structural starting point but must be reviewed and completed by a qualified real estate lawyer before exchange in every case.\n",{"question":436,"answer":437},"What is a settlement adjustment statement?","A settlement adjustment statement is a document prepared by the vendor's lawyer that calculates the prorated apportionment of council rates, water charges, land tax, body corporate levies, and rent as at the settlement date. It results in an adjusted final payment figure — the balance purchase price plus or minus the net adjustments — that the purchaser must pay on settlement day. It is typically prepared 5 business days before settlement and agreed in writing before the date.\n",{"question":439,"answer":440},"Can a commercial property contract be rescinded after exchange?","Generally, once both parties have signed and exchanged contracts and the cooling-off period (where it exists) has passed, rescission is only available if a condition precedent fails, the vendor is in material breach of a warranty, the property suffers material damage before settlement, or the parties mutually agree in writing. Unilaterally rescinding without a contractual basis exposes the rescinding party to forfeiture of the deposit and a damages claim.\n",[442,446,450,454],{"industry":443,"icon_asset_id":444,"specifics":445},"Retail and Hospitality","industry-retail","Sale of retail strips, shopping centre tenancies, or pub and hotel freehold sites often requires detailed tenancy schedule warranties and liquor license transfer conditions.",{"industry":447,"icon_asset_id":448,"specifics":449},"Industrial and Logistics","industry-manufacturing","Warehouse and industrial site contracts typically include environmental search conditions, zoning compliance warranties, and truck-access and loading-dock specifications.",{"industry":451,"icon_asset_id":452,"specifics":453},"Professional Services","industry-professional-services","Law firms, accountancies, and medical practices purchasing their office premises typically require a going-concern GST exemption and a short settlement window aligned to lease expiry.",{"industry":455,"icon_asset_id":456,"specifics":457},"Real Estate Development","industry-real-estate","Developer acquisitions include planning permit conditions, amalgamation clauses for multiple lots, and sunset date provisions allowing rescission if development approval is not obtained within a defined period.",[459,462,465,468],{"vs":245,"vs_template_id":460,"summary":461},"letter-of-intent-D1178","A letter of intent (or heads of agreement) records the key commercial terms before the full contract is drafted. It is typically non-binding on price and conditions but may create exclusivity obligations. A contract of sale is the legally binding document that follows — once signed, both parties are committed to complete or face legal consequences. Never rely on an LOI alone to secure a commercial property.",{"vs":88,"vs_template_id":463,"summary":464},"commercial-lease-agreement-D110","A commercial lease grants a tenant the right to occupy and use a property for a fixed term in exchange for rent — ownership does not transfer. A contract of sale transfers freehold ownership of the property on settlement. A business acquiring premises must decide whether to buy (contract of sale) or lease (commercial lease agreement) based on capital availability, tax strategy, and long-term plans.",{"vs":241,"vs_template_id":466,"summary":467},"business-sale-agreement-D1195","A business sale agreement transfers ownership of a business — including goodwill, plant, equipment, and contracts — as a going concern. Where the vendor also owns the premises, both a business sale agreement and a contract of sale of commercial property are required as separate instruments. Combining them in one document creates tax and stamp duty complications in most jurisdictions.",{"vs":257,"vs_template_id":469,"summary":470},"option-to-purchase-agreement-D1170","An option to purchase gives the holder the right — but not the obligation — to buy the property on pre-agreed terms within a specified period. The contract of sale is the instrument that is executed if and when the option is exercised. Options are used by developers and investors who need time to complete due diligence or secure capital before committing to a full purchase obligation.",{"use_template":472,"template_plus_review":476,"custom_drafted":480},{"best_for":473,"cost":474,"time":475},"Preparing a first draft to establish the commercial terms before engaging a solicitor","Free","1–2 hours to draft",{"best_for":477,"cost":478,"time":479},"Standard commercial property purchases up to $2M in a single jurisdiction with straightforward title","$1,500–$4,000 for a conveyancing solicitor review and exchange","3–7 business days",{"best_for":481,"cost":482,"time":483},"Complex transactions above $2M, multi-lot acquisitions, foreign investment, development sites, or properties with environmental issues","$5,000–$20,000+ depending on transaction complexity","1–4 weeks",[485,490,495,500],{"code":486,"name":487,"flag_asset_id":488,"note":489},"us","United States","flag-us","Commercial real estate contracts in the US are governed by state law, and requirements vary significantly between states. Most states require the contract to be in writing and signed by both parties. Earnest money is held in escrow rather than by a solicitor trust account. Disclosure obligations, due diligence periods (typically 30–60 days), and title insurance requirements all depend on the state where the property is located. A licensed real estate attorney and a title company are standard participants in every US commercial closing.",{"code":491,"name":492,"flag_asset_id":493,"note":494},"ca","Canada","flag-ca","Commercial property sales in Canada are governed by provincial law. In Ontario, the Real Estate and Business Brokers Act governs agent conduct; in British Columbia, the Real Estate Services Act applies. HST or GST is applicable on commercial property sales in most provinces unless a going-concern exemption is available. Non-resident purchasers and vendors must comply with the Income Tax Act's withholding requirements. Quebec transactions must comply with the Civil Code and may require notarial acts rather than common-law conveyancing.",{"code":496,"name":497,"flag_asset_id":498,"note":499},"uk","United Kingdom","flag-uk","Commercial property transactions in England and Wales follow a two-stage process: exchange of contracts (binding commitment) followed by completion (transfer of title). Stamp Duty Land Tax applies at commercial rates above £150,000. VAT at 20% applies to commercial property sales where the vendor has opted to tax the property. Scottish transactions use a separate system under Scots law, with missives (letters) forming the contract rather than a single signed document. Land and Buildings Transaction Tax applies in Scotland.",{"code":501,"name":502,"flag_asset_id":503,"note":504},"eu","European Union","flag-eu","Commercial property conveyancing in EU member states varies considerably. Germany requires a notarised purchase agreement (notarieller Kaufvertrag) for any real property transfer to be valid. France similarly requires a notaire to handle the final deed (acte authentique). In the Netherlands, a notary deed is required for registration. VAT treatment of commercial property is complex: most EU member states allow vendors to opt in to VAT on commercial sales, with rates ranging from 19% to 25%. GDPR considerations arise where the property sale involves transfer of tenant data.",[238,506,258,242,507,508,509,510,511,512,513,514],"letter-of-intent_acquisition-of-business-D5197","non-disclosure-agreement-nda-D12692","checklist-customer-due-diligence-D13916","property-management-agreement-D1196","termination-of-lease-obligation-D1202","purchase-order-D1411","promissory-note-D434","joint-venture-agreement-D889","memorandum-of-understanding-D12548",{"emit_how_to":199,"emit_defined_term":199},{"primary_folder":114,"secondary_folder":517,"document_type":518,"industry":519,"business_stage":520,"tags":521,"confidence":525},"real-estate-and-leases","agreement","real-estate","all-stages",[519,522,523,524],"legal","contract-of-sale","commercial-property",0.95,"\u003Ch2>What is a Contract of Sale of Commercial Property?\u003C/h2>\n\u003Cp>A \u003Cstrong>Contract of Sale of Commercial Property\u003C/strong> is a legally binding agreement between a vendor and a purchaser that governs the transfer of ownership of a commercially zoned or income-producing real estate asset. It records every material term of the transaction: the purchase price, deposit amount and stakeholder, conditions precedent such as finance and due diligence, title and tenancy warranties, GST or VAT treatment, settlement date, risk allocation during the period between exchange and settlement, and the consequences of default. Unlike a letter of intent or heads of agreement — which capture commercial intentions without binding the parties — a signed contract of sale creates enforceable obligations on both sides. Once exchanged, neither party can withdraw without facing deposit forfeiture, damages claims, or a court order for specific performance.\u003C/p>\n\u003Ch2>Why You Need This Document\u003C/h2>\n\u003Cp>Without a properly drafted contract of sale, a commercial property transaction has no legal foundation — verbal agreements and email chains are not enforceable substitutes in any major jurisdiction. The contract is the instrument that locks in the agreed price before market conditions change, protects the purchaser if title defects or undisclosed tenancy problems emerge, and gives the vendor a clear remedy if the purchaser defaults on settlement. It also determines which party bears the cost of an unexpected GST liability — a figure that can reach 10–20% of the transaction value if the treatment is not agreed in writing before exchange. This template gives buyers, sellers, and their advisors a structured, professionally formatted starting point that covers every standard clause required for a commercial conveyancing transaction, reducing drafting time and ensuring no critical term is left out before a qualified real estate lawyer reviews it for the specific jurisdiction and deal.\u003C/p>\n",1781185926046]