Aug. 1, 2024 Forms Update: View the 2024 Forms Update Comprehensive Guidelines document, which explains changes to several forms that were made as a result of the NAR settlement agreement.
About the Agreement of Sale for Commercial Real Estate
The Agreement of Sale for Commercial Real Estate (Form ASC) is a contract for the sale of commercial property containing commonly used clauses and the legal requirements for sales contracts in transactions involving real estate licensees.
Using the Agreement of Sale for Commercial Real Estate
The Agreement of Sale for Commercial Real Estate should be used to outline the terms of the agreement when selling or purchasing a commercial property.
Note that a “commercial” property that contains residential dwelling units may be subject to certain requirements usually associated with residential sales (e.g., Seller’s Property Disclosure, lead-based paint disclosures, etc.). See Residential Use Addenda (Form RUA) for more information.
Latest Content
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The Buyer Terminated the Agreement… Now What?
- May 24, 2024
- 5 min. read
There has been a noticeable increase in the number of calls coming into the PAR Legal Hotline that involve some variation of the buyer terminating the agreement. Questions come in from both the buy and sell side, so let’s review a few common ones and the answers we may give.
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Be Careful What You Agree To
- August 12, 2022
- 4 min. read
What matters is what is included within the agreement itself and little else.
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Can My Buyer Waive Receipt of HOA Documents?
- March 11, 2022
- 3 min. read
Because there is no waiver provision for residential transactions, the law appears to say that buyers are not able to waive receipt of association documents as part of their offers.
