The property and improvements which the Seller is agreeing to sell and which the Purchaser is agreeing to purchase is known as. A commercial purchase agreement is a legal real estate contract that transfers commercial property ownership from a seller to a buyer.(A) Buyer may elect to make this Agreement contingent upon obtaining financing for the purchase of the Property. I'm gonna break down all the terms and conditions so you can understand what it means and we're gonna fill that out so you can have a real-life example of it. Schedule A. Description of premises (to be attached). 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.