building purchase agreement

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commercial property offer to purchase

the letter of intent will generally be a non-binding agreement that is followed by the execution of a legally binding contract known as a “commercial purchase agreement.” a commercial purchase agreement is a contract between a buyer and seller that contains all terms pertaining to the sale of a commercial property. the agreement is drafted by the seller or their attorney and delivered to the buyer for evaluation. after this letter of intent has been made, a formal agreement may be constructed to the benefit of the parties involved. v. purchase terms: payment of the purchase price shall be made in the following manner: financing from the buyer’s financial institution. bank financing: the buyer has made it known that their ability to purchase the property is conditional on their ability to obtain financing.