Commercial Purchase Agreement

[Cory Macke]

I am trying to purchase a commercial property in Indiana and I was quoted $1500 to create an LLC and draft the purchase agreement. I know creating the LLC is very simple and inexpensive. Where is the best place for me to go to find the correct forms to use? Should I create the purchase agreement on my own? Is there someone that could create everything for me at a more reasonable price?

I found a few places I could purchase the forms online and it seems to be pretty simple.  I currently own about 20 rental properties in the state, however, this would be my first commercial zoned property.

[David Miller]

If you are working with a CRE attorney that knows what they are doing, $1500 is a bargain for a custom PSA and organizing a LLC with operating agreement, resolutions, etc. That said, just sign the PSA in your name and include language allowing the PSA to be assigned to an affiliated entity controlled by you. If you get through due diligence and are actually going to close, you can setup the LLC closer to closing and assign the PSA.