DOCUMENT

CONT - Commercial Property Earnest Money Contract

  • ENTITY TYPE: City/Township
  • TYPE OF DOCUMENT: CONT - Contract, Agreement
This document is a real estate contract between a buyer and a seller for the purchase of a property in McKinney, Texas. The contract includes various clauses and provisions related to the sale, including the delivery of a current survey of the property, the prohibition of assignment of the contract by the buyer, the requirement for the seller to provide an affidavit regarding their status as a "foreign person" for tax purposes, the provision for notices to be in writing and delivered to specified addresses, the requirement for the contract to be executed and returned by a specific date and time, the importance of strict compliance with performance timelines, the agreement that the contract contains the entire agreement of the parties and cannot be changed without written agreement, the recommendation for the parties to consult their attorneys before signing the contract, and the acknowledgment of receipt of earnest money. Additionally, the document includes an addendum related to an inspection period, which allows the buyer a specified period of time to conduct inspections and feasibility studies on the property. The addendum outlines the buyer's rights and responsibilities during the inspection period, including the right to terminate the contract if the property is deemed unsuitable or in unsatisfactory condition, the requirement for the seller to provide copies of any reports in their possession related to engineering investigations or environmental studies, the agreement to purchase the property in an "as is" condition if the buyer accepts it, and the obligation for the buyer to restore the property to its original condition if the transaction does not close.
MEMBERS ONLY DOWNLOAD
Advertisement

Similar Documents

Document
Short Term Credit Facility Q2517
Year Created: 2025
Document
RFP -Compensation Study, 2023
Year Created: 2023
Document
RFQ - Financial Compliance Audit Services
Year Created: 2023