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Chicago association of realtors commercial real estate contract

CONTRACT TO PURCHASE COMMERCIAL REAL ESTATE - MLS 2026

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The document is a legally binding Contract to Purchase Commercial Real Estate, approved by the Southwestern Illinois Regional Multiple Listing Service. It outlines the terms and conditions under which a Seller agrees to sell and a Buyer agrees to purchase specified real estate, including details on mutual covenants, contingencies, financing options, inspections, closing procedures, and legal obligations. The contract emphasizes that it is intended for use by REALTOR® members and includes provisions for dual agency, earnest money handling, and dispute resolution.

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Click ‘Get Form’ to open the CONTRACT TO PURCHASE COMMERCIAL REAL ESTATE - MLS in the editor.
Begin by entering the date at the top of the form. This is crucial as it marks the official start of your contract.
In Section 1, provide a detailed legal description of the property, including its permanent parcel number and approximate lot size.
For Section 2, indicate whether you consent to dual agency by having both Buyer and Seller initial this section.
Fill out Section 3 by listing any inclusions or exclusions related to the sale. Be specific to avoid future disputes.
In Section 4, specify the purchase price and ensure that all parties sign where indicated to validate the offer.
Complete Sections regarding financing contingencies and inspections as applicable, ensuring all necessary details are filled in accurately.
Finally, review all sections for accuracy before saving or sending for signatures. Utilize our platform's features for easy sharing and signing.

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Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Is there a site like Zillow for commercial property?

LoopNet is one of the most recognized CRE search engines. For those more involved in multi family or residential real estate, LoopNet is often considered the Zillow of commercial real estate.

Does MLS do commercial real estate?

MLS is typically used for the sale of residential properties, and while it can be used for the sale of commercial properties, many choose not to.

How to structure a commercial lease purchase agreement?

How To Structure A Lease Purchase Agreement Set The Lease Period. The lease should outline how long the lease period will be and the monthly rent amount. Include Special Clauses. Allocate Portion Of Rent To The Down Payment. Include A Contract Of Sale. Have A Professional Review Your Contract.

Is there an MLS for commercial real estate?

A commercial MLS typically lists properties such as retail, multifamily, industrial, medical, land, and hospitality properties. ing to Commercial Real Estate Loans, the top 10 commercial MLS options for brokers and investors in 2022 include CIMLS, Catylist, Total Commercial, and LoopNet.

Where can I find commercial property owners?

Where to go to find commercial property owners. The first place to look is at a county assessors office, so named because they assess property values for tax purposes. County assessors might also be referred to as county appraisers in some states.

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Can I write my own purchase agreement?

Some states, like California, have created real estate purchase agreements you can download and change. You can also get a template from PandaDoc, as well as benefiting from real estate contract management software functionality.

What is the best site for commercial real estate?

LoopNet and Crexi would be the top ones. You can search by tenant, location, or cap rates.

What is a purchase agreement in commercial real estate?

A commercial real estate purchase agreement is a legal document between a buyer seeking to purchase commercial property from a seller for an agreed-upon price. It is commonly written as an offer by a buyer with the agreement being legally binding after signature and acceptance by the seller.

CONTRACT TO PURCHASE COMMERCIAL REAL ESTATE - MLS 2026

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