Updated August 01, 2023
A Tennessee commercial real estate purchase and sale agreement is used when a prospective buyer makes an offer to purchase commercial real estate from a property owner. Although the agreement can be drafted by the seller, it is more likely for the buyer to draft the agreement to initiate the negotiation process and communicate their offer to the seller. Using the purchase agreement, the parties can negotiate essential terms such as the purchase price and closing dates, as well as finer details such as the inclusion of light fixtures and appliances in the asking price.
Disclosures
Agency Status (§ 62-13-405) – If a licensee engages in discussion with unrepresented buyers or sellers regarding the purchase or sale of a property, the licensee must disclose their agency status to the individuals prior to rendering any real estate services.
Realtor Version
Tennessee Association of Realtors – PDF
Residential Property
Tennessee Residential Purchase Agreement – A purchase and sale agreement between a buyer and a seller of residential real estate.
Download: PDF, MS Word, OpenDocument