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Commercial Property Sales Package - Mississippi 2025

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The document is a Commercial Property Sales Package from U.S. Legal Forms, Inc., designed to assist in the purchase or sale of commercial real estate in Mississippi. It includes a list of essential forms for closing transactions, such as contracts for sale, options for purchase, and addendums related to environmental assessments and tax-free exchanges. The package also provides tips for completing the forms and includes a disclaimer regarding the use of the materials.

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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.
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.
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.
For the 'Exchange Addendum', ensure you understand Section 1031 requirements. Fill out this form if you're considering a tax-free exchange.
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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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.

What are typical closing costs in Louisiana?

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

How do I price my commercial property?

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.

Is there an MLS for commercial properties?

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.

How much is the closing cost on a commercial property?

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.

How much are closing costs on $400,000?

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.

Can you see how much a commercial property sold for?

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.

Commercial Property Sales Package - Mississippi 2025

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