Louisiana 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 Louisiana Contract for the Sale and Purchase of Real Estate NowNo Broke— - Commercial Lot or Land is a legally binding agreement between the buyer and seller of a commercial lot or land in Louisiana. This contract is specifically designed for transactions that do not involve the services of a real estate broker. The purpose of this contract is to outline the terms and conditions of the sale, ensuring that both parties have a clear understanding of their rights and obligations. It covers various aspects related to the purchase, such as the purchase price, closing date, and any contingencies or special provisions that may apply. Key terms and provisions included in this contract may consist of: 1. Identification of the Parties: The contract specifies the full legal names and contact information of both the buyer and seller, ensuring that there is no confusion regarding the involved parties. 2. Description and Purchase Price: It includes a detailed description of the commercial lot or land being sold, including its boundaries, size, zoning classification, and any easements or restrictions. The purchase price agreed upon by the buyer and seller is also clearly stated. 3. Closing Date and Conditions: The contract sets a specific date on which the closing of the transaction will take place. It may also include conditions that must be met prior to closing, such as the completion of appraisals, inspections, or due diligence by the buyer. 4. Earnest Money Deposit: The contract may require the buyer to provide an earnest money deposit as a show of good faith and commitment to the transaction. This deposit is typically held in escrow until the closing and is credited towards the purchase price. 5. Financing and Contingencies: If the buyer intends to finance the purchase, the contract may outline specific terms related to the financing, including the type of loan and the deadline for mortgage approval. Additionally, contingencies related to the sale, such as the satisfactory completion of inspections, title search, or obtaining necessary permits, may be addressed. 6. Property Condition and Disclosure: The contract may mention if the property is being sold "as-is" or if the seller is providing any warranties or guarantees regarding its condition. It may also require the seller to disclose any known defects, encroachments, or environmental issues related to the property. 7. Expenses and Closing Costs: The contract specifies which party bears the responsibility for various fees and expenses associated with the closing, such as taxes, title insurance, recording fees, and attorney fees. It is important to note that while there may be variations of this contract, such as those adapted for residential properties or properties involving brokers, the Louisiana Contract for the Sale and Purchase of Real Estate NowNo Broke— - Commercial Lot or Land is specific to commercial lots or land transactions without broker involvement.

The Louisiana Contract for the Sale and Purchase of Real Estate NowNo Broke— - Commercial Lot or Land is a legally binding agreement between the buyer and seller of a commercial lot or land in Louisiana. This contract is specifically designed for transactions that do not involve the services of a real estate broker. The purpose of this contract is to outline the terms and conditions of the sale, ensuring that both parties have a clear understanding of their rights and obligations. It covers various aspects related to the purchase, such as the purchase price, closing date, and any contingencies or special provisions that may apply. Key terms and provisions included in this contract may consist of: 1. Identification of the Parties: The contract specifies the full legal names and contact information of both the buyer and seller, ensuring that there is no confusion regarding the involved parties. 2. Description and Purchase Price: It includes a detailed description of the commercial lot or land being sold, including its boundaries, size, zoning classification, and any easements or restrictions. The purchase price agreed upon by the buyer and seller is also clearly stated. 3. Closing Date and Conditions: The contract sets a specific date on which the closing of the transaction will take place. It may also include conditions that must be met prior to closing, such as the completion of appraisals, inspections, or due diligence by the buyer. 4. Earnest Money Deposit: The contract may require the buyer to provide an earnest money deposit as a show of good faith and commitment to the transaction. This deposit is typically held in escrow until the closing and is credited towards the purchase price. 5. Financing and Contingencies: If the buyer intends to finance the purchase, the contract may outline specific terms related to the financing, including the type of loan and the deadline for mortgage approval. Additionally, contingencies related to the sale, such as the satisfactory completion of inspections, title search, or obtaining necessary permits, may be addressed. 6. Property Condition and Disclosure: The contract may mention if the property is being sold "as-is" or if the seller is providing any warranties or guarantees regarding its condition. It may also require the seller to disclose any known defects, encroachments, or environmental issues related to the property. 7. Expenses and Closing Costs: The contract specifies which party bears the responsibility for various fees and expenses associated with the closing, such as taxes, title insurance, recording fees, and attorney fees. It is important to note that while there may be variations of this contract, such as those adapted for residential properties or properties involving brokers, the Louisiana Contract for the Sale and Purchase of Real Estate NowNo Broke— - Commercial Lot or Land is specific to commercial lots or land transactions without broker involvement.