The heart of this journey lies in the Commercial Real. Estate Purchase Agreement, a legally binding document outlining the terms of the transaction between.A commercial real estate purchase agreement is a legal contract between the buyer and seller of a commercial property. 3) Purchase and Sale Agreement. Confirm entity-Who is buying the property and how will they hold it? A long form purchase and sale agreement for commercial real property located in California favoring the purchaser. Ideal for office buildings and commercial spaces. The agreement contemplates the presence of a broker in the transaction, but those provisions may be removed. A residential real estate sale transaction usually begins at the time a broker obtains an agency contract in the form of a listing from the property owner. FINANCE TERMS: Buyer represents that funds will be good when deposited with Escrow Holder.