Straight Sale – David Reecher
A straight sale is one where a property owner conveys the title to land and existing improvements. This type of sale is subject to the sales contract provisions and the buyer paying the full sales prices at closing. This type of sale is the most common in the real estate market. It is a straight conveyance of property without any provisions for making improvements before the sale or for the seller providing any financing on the sale. Sales that are not straight sales include sale-leaseback, built-to-suit transactions, exchanges, installment sales, and seller financing situations. These all require other provisions beyond the straight conveyance of the property and its existing improvements. A straight sale can happen with residential, commercial, or industrial real estate transactions. It can involve land alone or land with existing buildings. It can also include condominiums and other shared land properties.