This template purchase and sale agreement is used to buy and sell real estate between two or more parties in Florida. This template may be used as a base template for a commercial purchase and sale of real property. This template includes practical guidance, drafting notes, and alternate clauses. This template incorporates Florida law. It is not the actual conveyance document that transfers the real estate. At a minimum, a purchase agreement needs to identify the parties to be bound, the property to be purchased or sold, the price to be paid (i.e., the consideration) and any other material terms necessary to the transaction. If the purchase agreement is an option contract (i.e., a contract that allows the buyer to hold the property under contract for a period of time and later terminate for any or no reason), the purchase agreement must contain independent consideration (typically around $100). To be binding, the purchase agreement must be executed by the parties. Typically, however, purchase agreements for commercial real estate acquisitions and / or sales contain much more than the minimum information. Purchase agreement templates can range from fairly simple to extremely detailed and lengthy. This template is intended to be used as a primary agreement and contains provisions applicable to existing tenants in any type of commercial real estate setting (i.e., office, retail, and industrial). The agreement is fairly neutral and contains drafting notes that suggest buyer-friendly and seller-friendly provisions. The drafting notes further help to explain the most notable sections. For a full listing of key content covering purchasing and selling commercial real estate, see Purchasing and Selling Commercial Real Estate Resource Kit. For additional guidance on purchasing and selling commercial real estate, see Purchasing and Selling Commercial Real Estate Resource Kit (FL).