Author: Melissa D. Timbres

While every transaction for the purchase and sale of commercial property will need to be tailored to the specific situation, key provisions exist that should be included regardless of the value of the transaction, the parties involved, or the size or type of the subject commercial property. This paper explores these provisions, including conditions precedent, additional covenants, representations and warranties, default provision, closing mechanics, boilerplate clauses, and post-closing matters. The paper also includes a sample purchase and sale agreement.

These materials are part of a collection presented at LESA’s Navigating Commercial Real Estate Transactions: Closing with Confidence program in Edmonton on May 7, 2025.