Most states have standardized forms to simplify this for all parties to a residential transaction. Keep in mind that commercial transactions are a lot more cavalier. As it is assumed that someone purchasing commercial property is somewhat savvy, the government does not aim to regulate and u201cprotectu201d these individuals as heavily. Florida has the Florida Real Estate Commission (FREC), which governs real estate brokerage activity and provides guidance on best practices. Most states have something comparable that puts together these forms you reference.