What Purchase Contract do you need to purchase apartment building?

Question

If I were to get a apartment building under contract, what contract would I use? Would I use the same purchase and sale agreement I have for buying homes, or is this a completely different form?

Thanks.

Bryan Hancock · Answer

There will be a standard one for the state that you are purchasing in that brokers use. It is different than the one used for SFRs.

Many people use their own contracts though. If you are buying a larger building you may consider having an attorney draw one up for you or getting with a local investor to borrow theirs and modify it.

What Purchase Contract do you need to purchase apartment building?

1 Reply