Kentucky Contract for the Sale and Purchase of Real Estate - No Broker - Commercial Lot or Land

• Category: Real Estate - Contracts - Land or Lots
• State: Multi-State
• Control #: US-00472C
• Format: Word; Rich Text

Description

This form is a Contract for the Sale and Purchase of Commercial Real Estate. The form requires information such as: property condition, earnest money, taxes pro ration and utilities. The form provides that the seller has agreed to sell and the buyer will purchase the property described in the form. This contract also contains a contingency for purchase based upon the sale of another property owned by the buyer. The Kentucky Contract for the Sale and Purchase of Real Estate NowNo Broke— - Commercial Lot or Land is a legally binding document that outlines the terms and conditions for buying or selling commercial property in the state of Kentucky without involving a real estate broker. This contract is specifically designed for transactions involving commercial lots or land. This contract covers various essential aspects of the purchase or sale, ensuring that both parties are protected and their interests are safeguarded. The purpose of this contract is to provide a clear and detailed framework for the transaction, including the agreed-upon purchase price, payment terms, and any contingencies or conditions that need to be met before the closing. The contract typically includes the following sections: 1. Parties: Identifies the buyer(s) and seller(s) involved in the transaction, including their legal names, addresses, and contact information. 2. Property Description: Provides a detailed description of the commercial lot or land being sold, including its legal description, boundary lines, and any existing structures or improvements. 3. Purchase Price and Payment Terms: Specifies the agreed-upon purchase price for the property and the payment terms, such as the down payment amount, financing options, and the timeframe for making the remaining payments. 4. Contingencies: Outlines any contingencies or conditions that need to be met before the completion of the sale, such as obtaining financing, inspections, or environmental assessments. 5. Closing and Transfer of Title: Details the process for the closing of the transaction, including the responsibilities of each party, the required documents, and the timeframe for transferring the title from the seller to the buyer. 6. Disclosure and Due Diligence: Covers the seller's disclosure obligations, where they must disclose any known material defects or issues with the property, and the buyer's responsibility to conduct due diligence, such as property inspections or surveys. 7. Default and Remedies: Addresses the consequences in case of default by either party, including termination of the contract, forfeiture of the earnest money deposit, or legal actions for damages. 8. Governing Law: Specifies that the contract will be governed by the laws of the state of Kentucky. While there may not be different variations of the Kentucky Contract for the Sale and Purchase of Real Estate NowNo Broke— - Commercial Lot or Land, it is important to customize the contract to the specific details and requirements of each transaction.

The Kentucky Contract for the Sale and Purchase of Real Estate NowNo Broke— - Commercial Lot or Land is a legally binding document that outlines the terms and conditions for buying or selling commercial property in the state of Kentucky without involving a real estate broker. This contract is specifically designed for transactions involving commercial lots or land. This contract covers various essential aspects of the purchase or sale, ensuring that both parties are protected and their interests are safeguarded. The purpose of this contract is to provide a clear and detailed framework for the transaction, including the agreed-upon purchase price, payment terms, and any contingencies or conditions that need to be met before the closing. The contract typically includes the following sections: 1. Parties: Identifies the buyer(s) and seller(s) involved in the transaction, including their legal names, addresses, and contact information. 2. Property Description: Provides a detailed description of the commercial lot or land being sold, including its legal description, boundary lines, and any existing structures or improvements. 3. Purchase Price and Payment Terms: Specifies the agreed-upon purchase price for the property and the payment terms, such as the down payment amount, financing options, and the timeframe for making the remaining payments. 4. Contingencies: Outlines any contingencies or conditions that need to be met before the completion of the sale, such as obtaining financing, inspections, or environmental assessments. 5. Closing and Transfer of Title: Details the process for the closing of the transaction, including the responsibilities of each party, the required documents, and the timeframe for transferring the title from the seller to the buyer. 6. Disclosure and Due Diligence: Covers the seller's disclosure obligations, where they must disclose any known material defects or issues with the property, and the buyer's responsibility to conduct due diligence, such as property inspections or surveys. 7. Default and Remedies: Addresses the consequences in case of default by either party, including termination of the contract, forfeiture of the earnest money deposit, or legal actions for damages. 8. Governing Law: Specifies that the contract will be governed by the laws of the state of Kentucky. While there may not be different variations of the Kentucky Contract for the Sale and Purchase of Real Estate NowNo Broke— - Commercial Lot or Land, it is important to customize the contract to the specific details and requirements of each transaction.