The Oregon Contract for the Sale and Purchase of Real Estate NowNo Broke— - Commercial Lot or Land is a legal document that outlines the terms and conditions for buying or selling commercial lots or land in Oregon without the involvement of a real estate broker. This contract is specifically tailored for commercial properties and helps protect the interests of both the buyer and the seller. This contract includes various sections and clauses that cover crucial aspects of the transaction, ensuring that all parties have a clear understanding of the terms. Some key elements included in the contract are: 1. Parties: The contract clearly identifies the buyer and seller involved in the transaction. It includes their legal names and addresses, making it easier to establish a legal binding between them. 2. Purchase Price: This section outlines the agreed-upon purchase price for the commercial lot or land. It specifies the currency and whether any earnest money or down payment has been made and how it will be handled. 3. Property Description: This section provides a detailed description of the commercial lot or land being sold. It includes information such as the legal description, address, parcel number, and any additional details necessary to identify the property accurately. 4. Title and Survey: The contract typically includes provisions related to title and survey. It ensures that the seller will provide a good and marketable title to the property and indicates whether the buyer is responsible for conducting a survey to determine the boundaries and physical features of the land. 5. Due Diligence: This section sets forth the buyer's right to conduct inspections, investigations, and studies concerning the property within a specified timeframe. It may also outline any particular disclosures that the seller needs to make regarding the condition of the property. 6. Contingencies: The contract may include contingency clauses that allow the buyer to terminate the agreement under certain circumstances. For example, financing contingencies provide the buyer with a legal way out if they are unable to secure a mortgage within a specified period. 7. Closing and Possession: This section outlines the logistics of the closing process, including the date, time, and location. It also clarifies when possession of the property will be transferred from the seller to the buyer. Different variations or versions of the Oregon Contract for the Sale and Purchase of Real Estate NowNo Broke— - Commercial Lot or Land may exist, depending on the specific requirements or preferences of the parties involved. It's recommended to consult with a real estate attorney or professional to ensure that the contract meets all legal obligations and addresses the unique characteristics of the transaction.
The Oregon Contract for the Sale and Purchase of Real Estate NowNo Broke— - Commercial Lot or Land is a legal document that outlines the terms and conditions for buying or selling commercial lots or land in Oregon without the involvement of a real estate broker. This contract is specifically tailored for commercial properties and helps protect the interests of both the buyer and the seller. This contract includes various sections and clauses that cover crucial aspects of the transaction, ensuring that all parties have a clear understanding of the terms. Some key elements included in the contract are: 1. Parties: The contract clearly identifies the buyer and seller involved in the transaction. It includes their legal names and addresses, making it easier to establish a legal binding between them. 2. Purchase Price: This section outlines the agreed-upon purchase price for the commercial lot or land. It specifies the currency and whether any earnest money or down payment has been made and how it will be handled. 3. Property Description: This section provides a detailed description of the commercial lot or land being sold. It includes information such as the legal description, address, parcel number, and any additional details necessary to identify the property accurately. 4. Title and Survey: The contract typically includes provisions related to title and survey. It ensures that the seller will provide a good and marketable title to the property and indicates whether the buyer is responsible for conducting a survey to determine the boundaries and physical features of the land. 5. Due Diligence: This section sets forth the buyer's right to conduct inspections, investigations, and studies concerning the property within a specified timeframe. It may also outline any particular disclosures that the seller needs to make regarding the condition of the property. 6. Contingencies: The contract may include contingency clauses that allow the buyer to terminate the agreement under certain circumstances. For example, financing contingencies provide the buyer with a legal way out if they are unable to secure a mortgage within a specified period. 7. Closing and Possession: This section outlines the logistics of the closing process, including the date, time, and location. It also clarifies when possession of the property will be transferred from the seller to the buyer. Different variations or versions of the Oregon Contract for the Sale and Purchase of Real Estate NowNo Broke— - Commercial Lot or Land may exist, depending on the specific requirements or preferences of the parties involved. It's recommended to consult with a real estate attorney or professional to ensure that the contract meets all legal obligations and addresses the unique characteristics of the transaction.
