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A commercial real estate purchase agreement facilitates the transfer of ownership of commercial property between a seller and a buyer, typically involving cash or other forms of trade. This agreement outlines the terms of the sale and includes an earnest money deposit. The video tutorial discusses key details regarding these agreements and where to obtain an official template. It clarifies that commercial property refers to real estate aimed at generating profit or providing business workspace, distinguishing it from residential property, which pertains to homes. Examples of commercial properties include office buildings, retail shops, strip malls, hotels, healthcare facilities, multi-family rentals, warehouses, and vacant commercial land.
