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Virginia realtors commercial purchase agreement 2026

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The document is a Commercial Purchase Agreement from the Virginia Association of Realtors®, outlining the terms and conditions for the sale of commercial property between a Seller and Purchaser. It includes details on the sale of property, purchase price, settlement procedures, feasibility period for inspections, title objections, representations and warranties by the Seller, risk of loss, default provisions, and miscellaneous clauses. The agreement emphasizes that it is legally binding and advises parties to seek legal advice if needed.

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Click ‘Get Form’ to open the Virginia Realtors Commercial Purchase Agreement in our editor.
Begin by entering the date of the agreement at the top of the form. Fill in the names of both the Seller and Purchaser in the designated fields.
In Section 1, specify the property details including location, tax parcel number, and street address. Indicate whether there are tenants in possession of the property.
For Section 2, input the purchase price and deposit amount. Select how you will pay the deposit and ensure to fill in who will hold it.
Complete Section 3 by detailing settlement information, including location and date. List all documents Seller must provide at settlement.
In Section 4, outline any feasibility period for inspections or financing. Ensure to note any materials required from Seller.
Review Sections 5 through 15 for additional terms regarding title objections, conditions precedent, and default clauses. Make necessary selections based on your agreement specifics.

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What is commercial sales agreement?

A commercial property sale contract is a document that places a contractual obligation on respective parties to buy and sell a property on a particular date.

When did the Buyer broker agreement become mandatory in VA?

On July 1, 2012, a number of changes to Virginia's Agency law went into effect. Among these changes is the requirement that all real estate licensees enter into written brokerage relationship agreements with their Buyer clients.

What is the difference between sales agreement and sales contract?

A contract of sale can be a sale or an agreement to sell. In a contract of sale, when there is an actual sale of goods, it is known as Sale whereas if there is an intention to sell the goods at a certain time in future or some conditions are satisfied, it is called an Agreement to sell.

simple commercial real estate purchase agreement

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How does a sales agreement work?

The buyer agrees to make a purchase on a specific timeline, and the seller agrees to provide the goods and services on or by that date. The buyer agrees to pay a certain price for the goods, and the seller agrees to accept that price. Either party has recourse if the other violates the sales agreement.

Is a Buyer broker agreement required in Virginia?

As of July 1, 2012, there is a new law that requires all REALTORS® in Virginia to have a signed \u201cwritten\u201d Buyer Brokerage Agreement prior to showing any property in Virginia.

Can a real estate agent represent themselves in Virginia?

The simple answer is yes - as a licensed agent, you can represent yourself in buying or selling real estate for yourself.

Can I withdraw an offer on a house once it has been accepted?

The simple answer to the question is that you can withdraw or reject an offer on a property at any time up to the exchange of contracts. After exchange of contracts you will have entered into a legally binding contract and you will be subject to the terms of that contract.

What is the term given to a person who has entered into a brokerage relationship with a licensee?

"Client" means a person who has entered into a brokerage relationship with a licensee.