South Dakota 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 South Dakota 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 a commercial lot or land in South Dakota without the involvement of a real estate broker. This contract ensures that both parties, the buyer and the seller, are protected and their rights and responsibilities are clearly defined. This specific contract is specifically designed for commercial transactions involving the sale and purchase of lots or land for commercial purposes. It encompasses various types of commercial properties such as office buildings, retail spaces, industrial complexes, and vacant land zoned for commercial use. The South Dakota Contract for the Sale and Purchase of Real Estate NowNo Broke— - Commercial Lot or Land is typically divided into several sections: 1. Parties: This section includes the legal details of the buyer and the seller, including their names, addresses, and contact information. It also specifies if the buyer or seller is an individual, a partnership, or a corporation. 2. Property Description: This section provides a detailed description of the commercial lot or land being sold, including its address, tax identification number, and any zoning restrictions or legal easements that may affect the property. 3. Purchase Price and Terms: This section states the agreed-upon purchase price for the commercial property and any financing terms, such as the amount of down payment, the interest rate, and the repayment schedule. It may also mention if any other considerations, like equipment or fixtures, are included in the purchase price. 4. Due Diligence and Inspection: This section outlines the buyer's rights to conduct inspections, surveys, and environmental assessments of the property before completing the purchase. It also covers the buyer's obligations to complete these inspections within a specified time frame. 5. Title and Closing: This section addresses the seller's obligation to provide a clear and marketable title to the property and sets a deadline for the closing date. It also includes provisions for prorated property taxes and any other closing costs. 6. Default and Remedies: This section describes the consequences if either party fails to fulfill their obligations under the contract. It may include provisions for damages, dispute resolution, or the return of the buyer's deposit. Some variations of the South Dakota Contract for the Sale and Purchase of Real Estate NowNo Broke— - Commercial Lot or Land may exist, such as those tailored for specific types of commercial properties or unique circumstances. However, the overall structure and key provisions typically remain the same, ensuring a legally binding agreement between the buyer and seller while protecting their respective interests in the transaction.

The South Dakota 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 a commercial lot or land in South Dakota without the involvement of a real estate broker. This contract ensures that both parties, the buyer and the seller, are protected and their rights and responsibilities are clearly defined. This specific contract is specifically designed for commercial transactions involving the sale and purchase of lots or land for commercial purposes. It encompasses various types of commercial properties such as office buildings, retail spaces, industrial complexes, and vacant land zoned for commercial use. The South Dakota Contract for the Sale and Purchase of Real Estate NowNo Broke— - Commercial Lot or Land is typically divided into several sections: 1. Parties: This section includes the legal details of the buyer and the seller, including their names, addresses, and contact information. It also specifies if the buyer or seller is an individual, a partnership, or a corporation. 2. Property Description: This section provides a detailed description of the commercial lot or land being sold, including its address, tax identification number, and any zoning restrictions or legal easements that may affect the property. 3. Purchase Price and Terms: This section states the agreed-upon purchase price for the commercial property and any financing terms, such as the amount of down payment, the interest rate, and the repayment schedule. It may also mention if any other considerations, like equipment or fixtures, are included in the purchase price. 4. Due Diligence and Inspection: This section outlines the buyer's rights to conduct inspections, surveys, and environmental assessments of the property before completing the purchase. It also covers the buyer's obligations to complete these inspections within a specified time frame. 5. Title and Closing: This section addresses the seller's obligation to provide a clear and marketable title to the property and sets a deadline for the closing date. It also includes provisions for prorated property taxes and any other closing costs. 6. Default and Remedies: This section describes the consequences if either party fails to fulfill their obligations under the contract. It may include provisions for damages, dispute resolution, or the return of the buyer's deposit. Some variations of the South Dakota Contract for the Sale and Purchase of Real Estate NowNo Broke— - Commercial Lot or Land may exist, such as those tailored for specific types of commercial properties or unique circumstances. However, the overall structure and key provisions typically remain the same, ensuring a legally binding agreement between the buyer and seller while protecting their respective interests in the transaction.