TO BE CLEAR, A real estate broker is not necessarily affiliated with a Realtor Association: MOST Residential real estate brokers seem to find it helpful -- Commercial Brokers usually do not ...
A specific Single-Family ( or 1-to-4 family ) Residential Purchase Contract form may be REQUIRED by state law, depending upon each state, by those states' real estate governing
agencies -- NOT by a national or local REALTOR ASSOCIATION, BOARD, or any such affiliation.
To my knowledge, their are NO STATES which require any specific contract verbage or form as it applies to COMMERCIAL TRANSACTIONS. Real Estate Brokers in MOST IF NOT ALL STATES may "broker" BOTH residential AND commercial property purchase transactions. These brokers may well have legal assistance available to them which allows them to offer a "recommended"
purchase contract form with "recommended" contract verbage. However, such recommendation
comes with the caveat that the recommendation was offered for the benefit and convenience of said BROKER, and not necessarily in the best interest of either the PURCHASER OR SELLER.
ALL PARTIES TO either RESIDENTIAL or COMMERCIAL TRANSACTIONS should seek for their
OWN INTEREST legal representation with a FIDUCIARY responsibility to their OWN INTEREST.
Sep 14, 2011