A person licensed to arrange the buying and selling of real estate for a fee. A real estate broker acts as an intermediary between the parties selling and buying the real estate. Real estate brokers can also be called real estate salespersons, and the people who assist them (who are generally not required to be licensed) are generally called real estate agents.
A Mississippi Contract of Sale of Commercial Property with No Broker Involved is a legally binding agreement used to facilitate the transfer of commercial property ownership without the involvement of a real estate broker or agent. This contract outlines the terms and conditions of the sale, protecting the rights and interests of both the buyer and seller. Keywords: Mississippi, contract of sale, commercial property, no broker involved, transfer of ownership, terms and conditions, buyer, seller, rights, interests. There are various types of Mississippi Contracts of Sale of Commercial Property, each designed to cater to specific circumstances. Some commonly used variations include: 1. Standard Contract of Sale: This is the most basic type of contract that outlines the essential elements of the property sale, such as the parties involved, purchase price, closing date, and property description. 2. As-Is Contract of Sale: This type of contract states that the property is being sold in its current condition without any warranties or guarantees from the seller. The buyer accepts the property's condition and takes responsibility for any repairs or issues that may arise after the sale. 3. Installment Contract of Sale: This contract allows the buyer to pay for the commercial property in installments over a predetermined period. It specifies the payment terms, including the amount, frequency, and duration of the installments. 4. Lease with Option to Purchase Contract: In this type of contract, the buyer leases the commercial property from the seller for a specified period with an option to purchase the property at a later date. The contract includes details of the lease terms and the exercise of the purchase option. 5. Seller Financing Contract of Sale: This contract enables the buyer to finance the purchase directly through the seller, bypassing traditional lending institutions. It outlines the terms of the loan, such as interest rate, repayment schedule, and any security measures. 6. Reverse Contract of Sale: This unique contract allows the seller to take on the role of the buyer temporarily. It is commonly used when the seller wishes to liquidate their current commercial property as a down payment for a new one. After finding a suitable replacement property, the seller transfers the original property to the new buyer using a traditional contract of sale. A Mississippi Contract of Sale of Commercial Property with No Broker Involved provides a clear framework for buyers and sellers to complete a property transaction efficiently and legally. It is essential to consult with legal professionals experienced in commercial real estate transactions to ensure all local regulations and requirements are properly addressed in the contract.
