Rhode Island Contract of Sale of Commercial Property with No Broker Involved

• Category: Real Estate - Contracts - Commercial
• State: Multi-State
• Control #: US-02697BG
• Format: Word; Rich Text

Description

Commercial real estate includes income producing property, such as office buildings, restaurants, shopping centers, hotels, industrial parks, warehouses, and factories. Commercial property usually must be zoned for business purposes. A person licensed to arrange the buying and selling of real estate for a fee. A real estate broker acts as an intermediary between the parties selling and buying the real estate. Real estate brokers can also be called real estate salespersons, and the people who assist them (who are generally not required to be licensed) are generally called real estate agents. A Rhode Island Contract of Sale of Commercial Property with No Broker Involved is a legally binding document that outlines the terms and conditions of a transaction between a seller and a buyer for the sale of a commercial property in Rhode Island. This type of contract is typically used when there is no involvement from a real estate broker and the parties directly negotiate and finalize the terms of the sale. Key keywords for this topic include: Rhode Island, contract of sale, commercial property, no broker involved. The Rhode Island Contract of Sale of Commercial Property with No Broker Involved includes important information such as the names and contact details of the seller and the buyer, a detailed description of the property being sold, the purchase price agreed upon, any contingencies or conditions that need to be met, and the closing date for the transaction. Some common variations or types of Rhode Island Contract of Sale of Commercial Property with No Broker Involved may include: 1. Cash Sale Contract: This type of contract is used when the buyer intends to make a full payment for the commercial property in cash, without any financing or mortgage involved. 2. Seller Financing Contract: In this type of contract, the seller agrees to finance a portion or the entire purchase price of the commercial property, acting as the lender for the buyer. 3. Lease-Purchase Contract: This contract combines a lease agreement and a purchase contract, allowing the buyer to lease the commercial property for a specified period with an option to buy at a later date. 4. Installment Sale Contract: This contract allows the buyer to make payments for the commercial property in installments over a specified period, with the seller retaining ownership until the full payment is made. It is crucial for both parties involved in the transaction to carefully review and understand the terms and conditions outlined in the Rhode Island Contract of Sale of Commercial Property with No Broker Involved before signing it. Additionally, it is recommended to seek legal advice or assistance from a real estate attorney to ensure the contract accurately represents the agreed-upon terms and complies with Rhode Island laws and regulations.

A Rhode Island Contract of Sale of Commercial Property with No Broker Involved is a legally binding document that outlines the terms and conditions of a transaction between a seller and a buyer for the sale of a commercial property in Rhode Island. This type of contract is typically used when there is no involvement from a real estate broker and the parties directly negotiate and finalize the terms of the sale. Key keywords for this topic include: Rhode Island, contract of sale, commercial property, no broker involved. The Rhode Island Contract of Sale of Commercial Property with No Broker Involved includes important information such as the names and contact details of the seller and the buyer, a detailed description of the property being sold, the purchase price agreed upon, any contingencies or conditions that need to be met, and the closing date for the transaction. Some common variations or types of Rhode Island Contract of Sale of Commercial Property with No Broker Involved may include: 1. Cash Sale Contract: This type of contract is used when the buyer intends to make a full payment for the commercial property in cash, without any financing or mortgage involved. 2. Seller Financing Contract: In this type of contract, the seller agrees to finance a portion or the entire purchase price of the commercial property, acting as the lender for the buyer. 3. Lease-Purchase Contract: This contract combines a lease agreement and a purchase contract, allowing the buyer to lease the commercial property for a specified period with an option to buy at a later date. 4. Installment Sale Contract: This contract allows the buyer to make payments for the commercial property in installments over a specified period, with the seller retaining ownership until the full payment is made. It is crucial for both parties involved in the transaction to carefully review and understand the terms and conditions outlined in the Rhode Island Contract of Sale of Commercial Property with No Broker Involved before signing it. Additionally, it is recommended to seek legal advice or assistance from a real estate attorney to ensure the contract accurately represents the agreed-upon terms and complies with Rhode Island laws and regulations.