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Commercial Real Estate Purchase Agreement Form

Commercial Real Estate Purchase Agreement Form Template for Canada

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Key Requirements PROMPT example:

Commercial Real Estate Purchase Agreement Form

"I need a Commercial Real Estate Purchase Agreement Form for acquiring a multi-tenant office building in Toronto, with specific provisions for existing tenants and environmental compliance, closing planned for March 2025."

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Document background
The Commercial Real Estate Purchase Agreement Form is a crucial legal instrument used in Canadian commercial property transactions. It serves as the primary contract between buyers and sellers of commercial real estate, establishing legally binding terms and conditions for the purchase transaction. This document is essential when acquiring commercial properties such as office buildings, retail spaces, industrial facilities, or mixed-use developments in Canada. The agreement encompasses all vital aspects of the transaction, including property description, purchase price, due diligence periods, closing conditions, and representations and warranties, while ensuring compliance with both federal and provincial regulations. It's specifically designed to address the complexities of commercial real estate transactions in the Canadian market, including considerations for GST/HST, land transfer taxes, and environmental regulations.
Suggested Sections

1. Parties: Identification of buyer and seller with full legal names and addresses

2. Background: Context of the transaction and brief description of the property

3. Definitions: Key terms used throughout the agreement

4. Property Description: Detailed legal description of the property and included fixtures/improvements

5. Purchase Price: Purchase price, deposit structure, and payment terms

6. Due Diligence: Buyer's investigation rights and timeline for property inspection

7. Conditions Precedent: Conditions that must be satisfied before closing

8. Representations and Warranties: Statements of fact by both parties about the property and their capacity to complete the transaction

9. Closing Procedures: Details of closing process, including documentation and timing

10. Title and Ownership: Requirements for clear title and handling of title issues

11. Adjustments and Costs: How various costs and adjustments will be handled at closing

12. Default and Remedies: Consequences of breach and available remedies

13. Notices: How formal communications between parties should be made

14. General Provisions: Standard legal provisions including governing law, assignment, and amendments

Optional Sections

1. Environmental Matters: Specific provisions regarding environmental investigations and liabilities - used when property has potential environmental concerns

2. Tenant Rights: Provisions regarding existing tenants - used when property has current tenants

3. Development Rights: Special provisions regarding development potential - used when property has development opportunities

4. Financing Conditions: Detailed financing requirements - used when purchase is contingent on financing

5. Property Management: Transition of property management - used for properties with ongoing management needs

6. Foreign Investment: Additional provisions for foreign buyers - used when buyer is non-Canadian

7. Subdivision Requirements: Special provisions for property subdivision - used when property requires subdivision

Suggested Schedules

1. Schedule A - Legal Description: Detailed legal description of the property

2. Schedule B - Permitted Encumbrances: List of accepted liens, easements, and encumbrances

3. Schedule C - Purchase Price Adjustments: Detailed breakdown of price adjustments and calculations

4. Schedule D - Existing Tenancies: Details of current lease agreements and tenant rights

5. Schedule E - Property Condition Report: Current condition of property and known issues

6. Schedule F - Environmental Reports: Summary or copies of environmental assessments

7. Schedule G - Service Contracts: List of ongoing service contracts affecting the property

8. Appendix 1 - Property Plans: Site plans, building plans, and surveys

9. Appendix 2 - Title Documents: Copies of title documents and searches

10. Appendix 3 - Due Diligence Documents: Collection of relevant due diligence materials

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions












































Clauses









































Relevant Industries

Real Estate

Commercial Property Development

Retail

Industrial Manufacturing

Hospitality

Healthcare

Professional Services

Warehousing and Logistics

Education

Financial Services

Technology

Entertainment and Recreation

Relevant Teams

Legal

Real Estate

Finance

Operations

Risk Management

Facilities

Investment

Acquisitions

Development

Compliance

Strategy

Relevant Roles

Real Estate Director

Chief Financial Officer

Property Manager

Real Estate Lawyer

Commercial Property Broker

Real Estate Investment Manager

Facilities Manager

Development Director

Asset Manager

Acquisition Manager

Real Estate Analyst

Corporate Counsel

Risk Manager

Operations Director

Investment Strategist

Industries










Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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