The property and improvements which the Seller is agreeing to sell and which the Purchaser is agreeing to purchase is known as. 1. Sale and Purchase.Purchaser shall pay Seller the purchase price ("Purchase Price") set forth in Schedule C attached hereto, subject to the terms and conditions of this contract. A commercial real estate purchase agreement is a legal document between a buyer seeking to purchase commercial property from a seller for an agreed-upon price. Schedule A. Description of premises (to be attached). This Standard Document is a long form purchase and sale agreement for commercial property favoring the purchaser. Use a commercial real estate purchase agreement to secure transactions and protect your interests effectively.