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Processing the transaction
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The forms used in the residential field are seldom suitable when it comes to buying industrial, commercial, and investment property. Some of the standard leasing forms can be used, although these, too, often prove to be inadequate for the occasion. Moreover, in many cases the offer process starts with the need for a Confidentiality Agreement, which is followed by the issue of a Letter of Intent, and only then will a formal Agreement of Purchase and Sale become a possibility. Even then, the probable complexity of the document will be prefaced by much discussion and no lack of revision before it's drawn up and the Buyer and Seller signatures added to it. Often enough, there will also be a Commission Agreement (and sometimes more than one) that specifies who's going to pay what to whom -- and when. Nevertheless, it's part of a Buyer Agent's job to walk a client through these steps and to either help draw up the documents or ensure their appropriate availability. It can all sound unduly complicated, but it really isn't.
Searching the Web Much of the documentation is individually created by the agents involved or the parties themselves or, of course, their professional advisors. A website that reproduces a whole set is therefore unlikely to exist. Nevertheless, some flavour of the forms can be obtained from the pages at http://www.megadox.com/documents.php/1208 that have their origin with a company in Calgary. Both Canadian and US commercial transactions are covered and a selection of forms can be either purchased as downloadable Word files (for relatively small fees) or previewed in an Acrobat format.
Any questions? Something not clear? Need more information? Please feel free to contact me: Phone: (905) 468-3154 / Cellular: (905) 704-9037 e-mail: ebb@iciniagara.com Or use the feedback form on the Contact Me page.
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