Commercial Property Sales Package - Mississippi 2025

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  1. Click ‘Get Form’ to open it in the editor.
  2. Begin with the 'Contract for the Sale and Purchase of a Commercial Lot or Land'. Fill in details such as property condition, earnest money, and utilities. Ensure all fields are completed accurately.
  3. Next, proceed to the 'Option for the Sale and Purchase of a Commercial Building'. This section allows you to specify your exclusive option terms. Be clear about your intentions here.
  4. Continue with the 'Addendum for Environmental Assessment'. Here, indicate if inspections will be conducted and note any potential environmental concerns that may affect the sale.
  5. For the 'Exchange Addendum', ensure you understand Section 1031 requirements. Fill out this form if you're considering a tax-free exchange.
  6. Finally, complete the 'Fixed Rate Promissory Note Secured by Commercial Real Estate' if financing is involved. Make sure all financial terms are clearly stated.

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Example: Estimated closing costs on a $400,000 home Total adjusted orgination charges$5,100 Initial escrow account deposit $708 Prepaid interest $750 Homeowners insurance $1,000 Total estimated closing costs $9,15813 more rows
The formula used to calculate the value of a commercial property using the cost approach is: Property Value = Replacement Cost Depreciation + Land Value. Property Value = Net Operating Income / Capitalization Rate. Gross Rent Multiplier = Sales Price / Annual Gross Rents.
There are approximately 900 MLS services in the United States, most of which are intended for residential property brokers in specific local areas. However, there are only a few commercial MLS providers that stand out, including LoopNet, CoStar, CREXi, Brevitas, and ApartmentBuildings.com.
The closing costs for a commercial property can be high and often exceed tens of thousands of dollars. Closing costs for the buyer typically range from 3 to 5% of the propertys price.
Closing costs, also known as settlement costs, are the fees you pay when obtaining your loan. Closing costs are typically about 3-5% of your loan amount and are usually paid at closing.
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Property history public records can be found online through locally-based property assessor and appraisal sites, as well as on other more broad, government entity-run websites for cities or entire states.

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