Ohio Commercial Real Estate Purchase and Sale Agreement

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Updated June 17, 2022

An Ohio commercial purchase and sale agreement contains the terms of a transaction involving transferring ownership of land used for business purposes. The agreement states the price the buyer is willing to pay along with the contingencies of their offer. Sellers will have a finite amount of time to decide whether the proposal should be accepted or declined. If the seller is not satisfied with the initial terms, they can try to negotiate a new agreement by presenting a counteroffer to the buyer. The transaction will only be complete once each party has consented to the terms defined in the agreement.

Disclosures

Agency Disclosure Statement (§ 4735.56) – This disclosure is to be given to consumers to state the different types of agency relationships permitted in Ohio.

Residential Property

Ohio Residential Purchase Agreement – A written contract entered into by a seller and a buyer who intend on executing a residential real estate transaction.

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