[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"page-\u002Fcategories\u002Fproperty\u002Freal-estate-purchase-agreement":3},{"type":4,"data":5},"product",{"product_name":6,"slug":7,"category_slug":8,"order_type":9,"product_version_slug":10,"preview":11,"is_previewable":12,"related_products":13,"related_articles":39,"breadcrumbs":72,"productName":6,"productDescription":-1,"productVersionSlug":10,"localeId":-1,"landerSlug":7,"categorySlug":8,"_cmsSource":78,"hero":79,"quickLinks":102,"page_body":103,"meta_information":254,"sidebar_ad":259,"disclaimer":82,"stateSlug":81},"Real Estate Purchase Agreement","real-estate-purchase-agreement","property","Document","scre-7688","  <center><p class='title center'><strong>REAL ESTATE PURCHASE AGREEMENT<\u002Fstrong><\u002Fp><\u002Fcenter><br \u002F><br \u002F>  <p>This REAL ESTATE PURCHASE AGREEMENT (hereinafter referred to as the <strong>"Agreement"<\u002Fstrong>) is made and entered into on <span style='background: #BBBBBB;'>_____________<\u002Fspan>, by and between  (<strong>"Seller"<\u002Fstrong>) and  (<strong>"Buyer"<\u002Fstrong>) (Seller and Buyer are each a <strong>"Party"<\u002Fstrong> to this Agreement and are collectively the <strong>"Parties"<\u002Fstrong>).<\u002Fp>  <ol>    <li><strong>Purchase Agreement.<\u002Fstrong> Seller hereby agrees to sell and convey to Buyer, and Buyer hereby agrees to purchase from Seller, the property located at <span style='background: #BBBBBB;'>_____________<\u002Fspan>, <span style='background: #BBBBBB;'>_____________<\u002Fspan>, <span style='background: #BBBBBB;'>_____________<\u002Fspan> <span style='background: #BBBBBB;'>_____________<\u002Fspan> (the <strong>"Property"<\u002Fstrong>) including all buildings, improvements, and fixtures attached or located on the land other than those excluded herein and subject to all easements, protective covenants, rights-of-way, and mineral rights, if any, according to the terms and conditions contained herein.<\u002Fli>              <li><strong>Legal Description.<\u002Fstrong> Seller agrees to attach the Property's legal description to this Agreement, and such legal description is incorporated herein by reference.<\u002Fli>        <li><strong>Purchase Price.<\u002Fstrong> The total purchase price for the Property is <span style='background: #BBBBBB;'>_____________<\u002Fspan>. Buyer will pay <span style='background: #BBBBBB;'>_____________<\u002Fspan> (the <strong>"Earnest Money"<\u002Fstrong>) upon the execution of this Agreement and then pay the remaining  of the purchase price at closing.<\u002Fli>    <li><strong>Earnest Money and Other Deposits.<\u002Fstrong> Buyer swears and Seller acknowledges that upon the execution of this Agreement the Earnest Money will be deposited into an <strong>"Escrow Account."<\u002Fstrong> Any and all other deposits made will also be deposited into the Escrow Account. The Earnest Money is nonrefundable unless an exception herein applies. <\u002Fli>    <li><strong>Closing Date.<\u002Fstrong> Closing will occur on <span style='background: #BBBBBB;'>_____________<\u002Fspan> (the <strong>"Closing Date"<\u002Fstrong>), at which point Seller will transfer title to the Property to Buyer. However, either Party may unilaterally delay closing for any reason, but in no event will closing occur more than 30 days after the Closing Date specified herein unless both Parties agree to extend the Closing Date in writing. If closing is delayed or extended as permitted by this Agreement, the Closing Date for purposes of this Agreement will be the date on which closing actually occurs.<\u002Fli>    <li><strong>Delivery of Possession.<\u002Fstrong> On the Closing Date, Seller will deliver possession of the Property to Buyer unless the Parties agree to a different date in writing. Seller will maintain all insurance covering the Property until the Closing Date. Seller agrees to deliver the Property in substantially the same condition as its present state and that Buyer will have the opportunity to inspect the Property prior to the Closing Date. If the Property is not in substantially the same condition as its present state upon delivery, Buyer will have the right to either (a) have the Earnest Money and all other deposits refunded and cancel this Agreement, or (b) accept the Property in such condition and require Seller to pay for the repairs to restore the Property to its former condition. Should Buyer choose this second option, all such repairs must be completed no later than 45 days after the Closing Date, with Seller paying Buyer a $200 penalty for each additional day after the 45-day period that such repairs are not complete.<\u002Fli>    <li><strong>Closing Costs.<\u002Fstrong> The costs associated with closing this Agreement will be paid as follows:<\u002Fli>    <ol>      <li>Seller pays for any home loans and other debts on the Property not assumed by Buyer including any associated fees; for any judgments, tax liens, or other liens necessary to clear title; and for any recording charges for documents necessary to clear title.<\u002Fli>      <li>Buyer pays  the lender's title insurance premium, if applicable; for any new home loan charges or assumption of existing loan charges unless otherwise required by the lender; and for any costs associated with financing the purchase of the Property.<\u002Fli>      <li>Each Party pays for their own notary fee associated with signing this Agreement, if applicable.<\u002Fli>      <li>Each Party agrees to pay for all other cost associated with closing this Agreement in additional writing, if applicable.<\u002Fli>    <\u002Fol>    <li><strong>Escrow Account.<\u002Fstrong> A third-party trustee chosen by Buyer will manage the Escrow Account according to the terms of this Agreement. Any procedures followed by the Escrow Account manager must not conflict with the terms herein. The Escrow Account manager is hereby relieved and released of all liability in the event the close of this transaction and\u002For loan payoff is delayed pending clearance of such funds in accordance with standard banking practices.<\u002Fli>    <li><strong>Procedure at Closing.<\u002Fstrong> On the Closing Date, Buyer and Seller, the Escrow Account manager, and any other party required to be present will gather to execute the necessary documents, at which point the Escrow Account manager will distribute the funds in the Escrow Account to the appropriate parties and file the deed to the Property. Closing will not occur if any of the following conditions have not been met:<\u002Fli>    <ol>      <li>The purchase price, closing costs, and all other payments required herein are deposited into the Escrow Account;<\u002Fli>      <li>The deed to the Property and any other documentation needed to close the transaction are prepared and delivered to the necessary parties;<\u002Fli>      <li>The title company is ready to issue a title policy and, if title defects are preventing the title company from issuing the policy, closing will not occur unless Buyer chooses to waive such title defects in writing;<\u002Fli>      <li>Seller has repaired or removed all material defects on the Property prior to the Closing Date unless waived in writing by Buyer;<\u002Fli>      <li>All contingencies stated in this Agreement have been satisfied unless waived in writing; or<\u002Fli>      <li>All other conditions of closing stated in this Agreement or required by law are satisfied.<\u002Fli>    <\u002Fol>        <li><strong>Proration.<\u002Fstrong> Taxes, assessments, rents, and Homeowners' Association dues, if any, are to be prorated to Seller up to, but not including, the Closing Date. The Parties will coordinate with each other and the utility companies to ensure all utilities are transferred out of Seller's name and into Buyer's name on the Closing Date, including water, sewer, electric, and gas. Any utilities not transferred on the Closing Date will be prorated according to historical average usage for that month or otherwise according to the prior month's charges.<\u002Fli>    <li><strong>Title Requirements<\u002Fstrong><\u002Fli>    <ol>      <li><strong>Title Report.<\u002Fstrong> Upon executing this Agreement, Seller will order a title report and have it sent to Buyer. Buyer must notify Seller within 10 business days of any objections Buyer has to any existing title defects, including any encumbrance, easement, or other recorded restriction. Upon receiving notice of an objection to a title defect, Seller must cure the defect on or before the Closing Date. Seller may use money deposited from the purchase price to clear any title defect. If Seller fails to cure all defects objected to on or before the Closing Date, Buyer may choose to have the Earnest Money and all other deposits refunded and cancel this Agreement. Alternatively, Buyer may choose to continue the transaction by waiving any title defect in writing.<\u002Fli>              <li><strong>Title Insurance.<\u002Fstrong> Buyer agrees to purchase a standard form property owner's title insurance policy covering the amount of the purchase price for Buyer from a certified insurance company. Such policy will insure Buyer against any defect or encumbrance on the title to the Property other than those stated on the deed transferring title to Buyer.<\u002Fli>                <\u002Fol>    <li><strong>Buyer Contingencies<\u002Fstrong><\u002Fli>    <ol>                              <li><strong>Waiver of Contingencies.<\u002Fstrong> If Buyer so chooses, Buyer may waive any or all contingencies set forth herein by so stating in a signed writing.<\u002Fli>    <\u002Fol>    <li><strong>Seller Representations and Warranties<\u002Fstrong><\u002Fli>    <ol>      <li><strong>Marketable Title.<\u002Fstrong> Seller represents that it owns the Property in fee and has the authority and capacity to enter into this Agreement. Seller covenants to convey good and marketable title to the Property by general warranty deed that warrants that the Property is free of all title defects except those stated on the deed and waived by Buyer in writing. The deed will be deposited into the Escrow Account on or before the Closing Date.<\u002Fli>      <li><strong>Condition of Property.<\u002Fstrong> Unless otherwise agreed in writing, Seller represents and Buyer acknowledges and accepts that the Property is sold (a) "As Is" in the substantially similar physical condition as of the date of this Agreement, and (b) subject to all applicable Buyer's inspection, contingency, and due diligence rights herein.<\u002Fli>            <li><strong>Violations.<\u002Fstrong> Seller represents that it has not received notice from any government authority regarding any violation of any laws, ordinances, or codes in connection with the condition of the Property. If Seller learns of the existence of any such violation, Seller covenants to immediately notify Buyer.<\u002Fli>              <li><strong>Encroachments.<\u002Fstrong> With the exception of the following encroachments, Seller has no knowledge of the existence of any improvement encroaching on boundary lines of the Property:  By signing this Agreement, Buyer acknowledges that Seller has recommended for Buyer to obtain a survey of the Property at Buyer's expense.<\u002Fli>            <li><strong>Environmental Threats.<\u002Fstrong> Seller represents that it has no knowledge of any existing or impending environmental threat that poses a substantial risk of significantly diminishing the value of the Property or that would impair Buyer's intended use of the Property such that it would be unconscionable for Seller not to disclose it. Examples of such threats include, without limitation, environmental hazards, toxic substances, endangered species, sinkholes, pollution, and pest problems.<\u002Fli>      <li><strong>Government Assessments.<\u002Fstrong> Local governments may periodically charge property owners an assessment for improvements that benefit their properties, such as sidewalks or sewers. Seller covenants to pay for any government assessments for municipal improvements completed on or before the Closing Date, and Buyer will pay any assessments for municipal improvements completed thereafter.<\u002Fli>      <li><strong>Mechanic's Liens.<\u002Fstrong> Seller covenants to pay off any existing mechanic's liens on the Property on or before the Closing Date and to ensure that any labor or materials furnished between the signing of this Agreement and closing will be paid for in full on or before Closing Date.<\u002Fli>              <li><strong>Foreign Investment In Real Property Tax Act (FIRPTA).<\u002Fstrong> Seller represents it is not a foreign person or foreign corporation as defined by the Foreign Investment In Real Property Tax Act (FIRPTA), and, therefore, Buyer will not be required to comply with the withholding requirements of FIRPTA at closing.<\u002Fli>            <li><strong>Survival of Warranties.<\u002Fstrong> Seller's warranties in this section will continue through and survive the Closing Date, the completion of this Agreement, and the delivery of the deed and possession of the Property to Buyer.<\u002Fli>    <\u002Fol>    <li><strong>Seller Disclosures<\u002Fstrong><\u002Fli>    <ol>                                                                                                                                                                                                                                                                                    <li><strong>Local and State Ordinances.<\u002Fstrong> Buyer acknowledges and understands that real estate owners are legally required to abide by state and local ordinances and zoning restrictions and that it is Buyer's responsibility to ensure it is acting in compliance with the law regarding this Property.<\u002Fli>                  <li><strong>Lead Contamination.<\u002Fstrong> Buyer acknowledges and understands the following:<br>        EVERY PURCHASER OF ANY INTEREST IN RESIDENTIAL REAL PROPERTY ON WHICH A RESIDENTIAL DWELLING WAS BUILT PRIOR TO 1978 IS NOTIFIED THAT SUCH PROPERTY MAY PRESENT EXPOSURE TO LEAD FROM LEAD-BASED PAINT THAT MAY PLACE YOUNG CHILDREN AT RISK OF DEVELOPING LEAD POISONING. LEAD POISONING IN YOUNG CHILDREN MAY PRODUCE PERMANENT NEUROLOGICAL DAMAGE, INCLUDING LEARNING DISABILITIES, REDUCED INTELLIGENCE QUOTIENT, BEHAVIORAL PROBLEMS, AND IMPAIRED MEMORY. LEAD POISONING ALSO POSES A PARTICULAR RISK TO PREGNANT WOMEN. SELLER OF ANY INTEREST IN RESIDENTIAL REAL PROPERTY IS REQUIRED TO PROVIDE BUYER WITH ANY INFORMATION ON LEAD-BASED PAINT HAZARDS FROM RISK ASSESSMENTS OR INSPECTIONS IN SELLER'S POSSESSION AND NOTIFY BUYER OF ANY KNOWN LEAD-BASED PAINT HAZARDS. A RISK ASSESSMENT OR INSPECTION FOR POSSIBLE LEAD-BASED PAINT HAZARDS IS RECOMMENDED PRIOR TO PURCHASE.<\u002Fli>      <li><strong>Energy Conservation Retrofit and Thermal Insulation Disclosures.<\u002Fstrong> Federal law requires new home Sellers to disclose in every sales contract the type, thickness, and R-value of the insulation which has been or will be installed. However, if Buyer signs a sales contract before it is known what type of insulation will be installed, or if there is a change in the contract regarding insulation, Seller is required to provide the required information as soon as it is available.<\u002Fli>      <li><strong>Government Action and Restrictions.<\u002Fstrong> Buyer acknowledges and understands that it is Buyer's sole responsibility to investigate whether any existing, pending, or proposed government legislation, restriction, or action may affect the value of the Property or Buyer's intended use of the Property.<\u002Fli>    <\u002Fol>    <li><strong>Release of Dower.<\u002Fstrong> If not already a Party to this Agreement, Seller's spouse, if any, joins in signing this Agreement in order to give his or her consent to the release of any dower or other marital rights in the Property.<\u002Fli>    <li><strong>Risk of Loss.<\u002Fstrong> Seller assumes the risk of loss if the Property is destroyed or a material defect or other loss occurs between the date of this Agreement and the Closing Date. If Seller fails to restore the Property to its former condition, Buyer may choose to either (a) cancel this Agreement and have the Earnest Money and all other deposits refunded to the respective Parties, or (b) accept the Property with the loss and require Seller to pay or assign to Buyer any insurance proceeds payable to Seller as a result of such loss.<\u002Fli>    <li><strong>Cancelation of Agreement.<\u002Fstrong> If this Agreement is canceled as permitted by the terms herein, it will be deemed voided, with both Parties being fully released from performance, and neither Party will have any recourse against the other.<\u002Fli>    <li><strong>Default and Remedies.<\u002Fstrong> Upon Seller's default of this Agreement, Buyer will be entitled to either (a) cancel this Agreement and have the Earnest Money and all other deposits refunded to the respective Parties, or (b) pursue any remedy available by law or equity, including seeking specific performance. Upon Buyer's default of this Agreement, Seller will be entitled to either (a) cancel this Agreement, keep the Earnest Money as liquidated damages, and have all other deposits returned to the respective Parties, or (b) pursue any remedy available by law or equity, including seeking specific performance. In addition to any other relief that may be awarded, the prevailing Party of any action at law or in equity brought to enforce or interpret this Agreement will be entitled to reasonable attorneys' fees and costs.<\u002Fli>    <li><strong>Mediation and Arbitration.<\u002Fstrong> All claims or disputes related to the performances or interpretation of this Agreement that the Parties are unable to resolve themselves will be first submitted to a mediation services provider mutually acceptable to both Parties or otherwise through a mediator with the American Arbitration Association. If Parties are unable to resolve the claims or disputes themselves or through mediation, all claims or disputes will be resolved by neutral binding arbitration through an arbitration services provider mutually acceptable to both Parties or otherwise through the American Arbitration Association. Both Parties will share the costs of mediation and arbitration equally.<\u002Fli>    <li><strong>Deposit Procedure During Disputes.<\u002Fstrong> In the event of a claim or dispute related to the performances or interpretation of this Agreement, the party managing the Escrow Account will either (a) retain all deposits, including the Earnest Money, until the claim or dispute is resolved, (b) release any or all deposits, including the Earnest Money, if the Parties so agree to release the funds by written agreement, or (c) take any other action permitted or required by law or regulation regarding the deposits in the Escrow Account.<\u002Fli>    <li><strong>Accurate Purchase Price.<\u002Fstrong> The Parties agree that the purchase price paid by Buyer will be an accurate reflection of the true value of the Property at the time of closing. The Parties agree to disclose this to the Internal Revenue Service as required by law.<\u002Fli>    <li><strong>Further Assurances.<\u002Fstrong> The Parties agree to execute such further documents and do any and all such further things as may be necessary to implement and carry out the intent of this Agreement, including, without limitation, any documents or things that may be required by a third-party lender or title company.<\u002Fli>    <li>      <strong>Notices.<\u002Fstrong> Any notice, service of process, or demands required or permitted under this Agreement or under law will be deemed sufficiently given or served if sent by United States certified mail, return receipt requested, addressed as follows:      <br>      <br>              <strong>IF TO SELLER SEND TO:<\u002Fstrong> , <span style='background: #BBBBBB;'>_____________<\u002Fspan>, <span style='background: #BBBBBB;'>_____________<\u002Fspan>, <span style='background: #BBBBBB;'>_____________<\u002Fspan> <span style='background: #BBBBBB;'>_____________<\u002Fspan>            <br>      <br>      <strong>IF TO BUYER SEND TO:<\u002Fstrong> , <span style='background: #BBBBBB;'>_____________<\u002Fspan>, <span style='background: #BBBBBB;'>_____________<\u002Fspan>, <span style='background: #BBBBBB;'>_____________<\u002Fspan> <span style='background: #BBBBBB;'>_____________<\u002Fspan>    <\u002Fli>        <li><strong>Miscellaneous Terms<\u002Fstrong><\u002Fli>    <ol>      <li><strong>Entire Agreement.<\u002Fstrong> This Agreement, including any attachments, addendums, exhibits, and amendments hereto, represents the entire and singular agreement between the Parties with respect to the matters herein stated, and any prior agreements, promises, or representations not included herein are void and of no effect.<\u002Fli>      <li><strong>Governing Law.<\u002Fstrong> The Parties agree and acknowledge that all provisions of this Agreement shall be governed by and construed in accordance with the laws of <span style='background: #BBBBBB;'>_____________<\u002Fspan> exclusively and without reference to principles of conflict of laws.<\u002Fli>      <li><strong>Assignment.<\u002Fstrong> This Agreement will be binding and inure to the benefit of the Parties, their personal representatives, successors, guardians, and assigns, but only to the extent that such assignment is permitted by the terms of this Agreement, if at all.<\u002Fli>      <li><strong>Survival.<\u002Fstrong> The terms of this Agreement that impose an obligation on either Party after the delivery of the deed to Buyer will continue to survive until satisfied.<\u002Fli>      <li><strong>Severability.<\u002Fstrong> If any provision of this Agreement shall be held to be invalid or unenforceable for any reason, that provision shall be considered removed from this Agreement; however, the remaining provisions shall continue to be valid and enforceable according to the intentions of the Parties. If a court finds that any provision of this Agreement is invalid or unenforceable, but that by limiting such provision it would become valid and enforceable, then such provision will be deemed written, construed, and enforced as so limited.<\u002Fli>      <li><strong>Force Majeure.<\u002Fstrong> Neither Party will be liable for any failure or delay in performing an obligation under this Agreement that results from causes or events beyond its reasonable control, including, without limitation, uncontrollable natural forces, war, labor or trade disputes, riots or civil unrest, or government action.<\u002Fli>      <li><strong>Joint and Several Liability.<\u002Fstrong> In the event two or more persons or entities are named as one Party to this Agreement, such persons' obligations and responsibilities will be joint and several.<\u002Fli>      <li><strong>Amendments.<\u002Fstrong> Any amendments, modifications, or additions to this Agreement must be expressly made in a writing signed by all Parties.<\u002Fli>      <li><strong>Time of Essence.<\u002Fstrong> Time is of the essence for this Agreement.<\u002Fli>      <li><strong>Construction.<\u002Fstrong> In this Agreement, the masculine, feminine, and neuter genders will be interpreted to include each other, as will the singular and plural. Headings used herein are for convenience only and will not be interpreted to give any meaning to their respective provisions.<\u002Fli>      <li><strong>Counterparts.<\u002Fstrong> This Agreement may be executed in counterparts, each of which will be deemed an original but considered part of one agreement.      <\u002Fol>    <\u002Fol>  <\u002Fol>  <p><strong>The Parties have read this entire Agreement and hereby agree to fully perform all the terms and conditions in good faith. By signing this Agreement each Party swears that the information it has provided is true and accurate to the best of its knowledge and belief.<\u002Fstrong><\u002Fp>  <p>NOTICE: THIS IS AN IMPORTANT LEGAL DOCUMENT THAT CREATES BINDING OBLIGATIONS. CONSULT AN ATTORNEY IF YOU DO NOT UNDERSTAND THE TERMS OF THIS AGREEMENT.<\u002Fp>        <div class='-page-break'><\u002Fdiv>                        <div class='-page-break'><\u002Fdiv>    <center><p class='title center'><strong>Instructions for Your Real Estate Purchase Agreement<\u002Fstrong><\u002Fp><\u002Fcenter><br \u002F><br \u002F>    <p>This Real Estate Purchase Agreement contains everything you need to complete a strong contract for the purchase and sale of a piece of property. In addition to the standard provisions, this agreement allows you to customize the following terms:<\u002Fp>    <ul>      <li>What personal properties and fixtures the Seller will include in the sale<\u002Fli>      <li>The purchase price and earnest money deposit<\u002Fli>      <li>Whether or not the Buyer will be assuming any leases for tenancies that may exist on the property<\u002Fli>      <li>The Buyer's contingencies for the transaction to occur, including the type of financing (third-party lending, Seller financing, loan assumption, all cash deal, or other financing), whether an appraisal is required, and whether an inspection is required<\u002Fli>      <li>What repairs are agreed upon prior to closing, if any<\u002Fli>      <li>Any custom terms the parties want to add<\u002Fli>    <\u002Ful>    <p><strong>Completing the Agreement<\u002Fstrong><\u002Fp>    <p>Begin by entering the information for each party, including each party's names and address. If the Seller acquired the property being sold during marriage and the spouse is not already a Seller in the agreement, then that Seller's spouse must sign the spousal acknowledgment section where indicated. This section certifies that the spouse won't make any claim to the property in the future. <\u002Fp>          <p><strong>Attaching a Legal Description<\u002Fstrong><\u002Fp>      <p>If you choose not to enter a legal description directly in your deed, you will need to locate and print a copy of the legal description to attach to your agreement. You should be able to obtain the legal description of your property from the County Register or Recorder (often online). The legal description of your property may also be found on your land title, tax assessment information, or in your mortgage agreement.<\u002Fp>        <p><u>Buyer Contingencies<\u002Fu><\u002Fp>    <p>The Buyer contingencies are conditions that the Buyer requires to occur before the Buyer will close the deal. If a contingency is not satisfied, the Buyer will be entitled to cancel the agreement and receive a refund of the earnest money and any other deposits made. However, the Buyer always has the option to waive a contingency later on if it is no longer needed. The contingencies can be negotiated between the parties; however, the contingency options included with this agreement are all rather typical. The included contingency options are financing, appraisal, inspection, and property sale contingencies, and are each explained below.<\u002Fp>    <p>For the financing contingency, you will be given options to select whether the Buyer will receive financing for the property through a third-party lender, a mortgage assumption, seller financing, an all-cash transaction, or another form. This contingency states that the Buyer must first obtain sufficient financing prior to closing. Thus, if the Buyer is unable to obtain the necessary funds, the Buyer will have the right to back out of the deal and receive a refund of the earnest money and any other deposits. "Third-party lender" means financing by a traditional lending institution. "Mortgage assumption" means that the Buyer will assume the Seller's loan obligations by agreeing to pay for the outstanding loans on the property. "Seller financing" means that the Seller and Buyer will create a private loan agreement between themselves. "All cash" means the Buyer will fund the transaction itself, without financing. Note here that the funds do not have to actually be in cash form, as electronic wire transfers are usually accepted. Select "Other" to describe a different type of financing.<\u002Fp>    <p>The appraisal contingency, if selected, says that the property must be appraised at a value equal to or greater than the purchase price. If the appraisal is for less than the purchase price, the Buyer will have the option of either canceling the agreement and receiving a refund of the earnest money or renegotiating the purchase price. The agreement requires the appraisal to be carried out within 21 business days of signing this agreement. You will have the option of specifying which party will be required to pay for and obtain the appraisal.<\u002Fp>    <p>Similarly, the inspection contingency, if selected, says that a professional must inspect the property prior to closing. If the inspection isn't conducted by that time, or if the inspection occurs but reveals the existence of a material defect, then the Buyer will have the right to either cancel the agreement and receive a refund of the earnest money or require the Seller to repair the defect. The agreement requires the inspection to be carried out within 10 business days of signing this agreement.<\u002Fp>    <p><u>Required Repairs<\u002Fu><\u002Fp>    <p>Another important term you will specify is, even though the property is being sold in "as is" condition, whether or not the Seller will agree to perform any repairs. This includes anything on the property that has structural or mechanical problems or is in disrepair, including any problems with the foundation, walls, support structures, roof, water and electrical systems, plumbing, or mechanical systems. If listed here, the Seller will be required to repair these items. However, as usual, the Buyer can always waive the requirement for the Seller to make the repairs.<\u002Fp>    <p><strong>Executing the Agreement<\u002Fstrong><\u002Fp>    <p>To execute the agreement, the parties simply sign and date it in the presence of a notary or witnesses. Most states just require one notary to act as a witness. However, two witnesses are always required to sign real estate purchase agreements in <strong>Connecticut, Florida, Louisiana, and South Carolina<\u002Fstrong>. These states allow a notary to sign in the place of one of the witnesses. Note, in ANY state, lenders can still choose to require two witnesses to sign. The main requirements for witnesses are that they are 18 years or older and are disinterested from the transaction, meaning that they have no stake in the outcome and are not related to either of the parties by blood.<\u002Fp>    <p><strong>What are the Different Types of Dispute Resolution?<\u002Fstrong><\u002Fp>    <p>Court litigation is when a party files an action or claim in court and each side presents its case or defense in a trial for a judge or jury to determine a final outcome on the claim. The decision by the judge or jury is final and binding. Arbitration is when an arbitrator, a neutral third party selected by the parties, evaluates the dispute and determines a settlement. The decision by the arbitrator is final and binding. Mediation is when a mediator, a neutral third party selected by the parties, tries to facilitate a compromise and agreement. The decision by the mediator is nonbinding.<\u002Fp>    <p><strong>State and Federal Disclosure Requirements<\u002Fstrong><\u002Fp>    <p>For properties built before 1978 (i.e. pre-1978 property), federal law requires that the sellers and buyers of real estate sign a "<a href="https:\u002F\u002Fwww.epa.gov\u002Fsites\u002Fproduction\u002Ffiles\u002Fdocuments\u002Fselr_eng.pdf">Disclosure of Information on Lead-Based Paint<\u002Fa>." Sellers should keep the signed copy of this disclosure for at least three years.<\u002Fp>                                                                                                                                                                              \n\n",true,[14,18,21,24,27,30,33,36],{"product_name":15,"category":16,"link":17},"General Warranty Deed","Property","\u002Fcategories\u002Fproperty\u002Fgeneral-warranty-deed",{"product_name":19,"category":16,"link":20},"Cohabitation Agreement","\u002Fcategories\u002Fproperty\u002Fcohabitation-agreement",{"product_name":22,"category":16,"link":23},"Quit Claim Deed","\u002Fcategories\u002Fproperty\u002Fquit-claim-deed",{"product_name":25,"category":16,"link":26},"Roommate Agreement","\u002Fcategories\u002Fproperty\u002Froommate-agreement",{"product_name":28,"category":16,"link":29},"Property Purchase Agreement","\u002Fcategories\u002Fproperty\u002Fproperty-purchase-agreement",{"product_name":31,"category":16,"link":32},"Deed of Trust","\u002Fcategories\u002Fproperty\u002Fdeed-of-trust",{"product_name":34,"category":16,"link":35},"Property Deed","\u002Fcategories\u002Fproperty\u002Fproperty-deed",{"product_name":37,"category":16,"link":38},"Mortgage Agreement","\u002Fcategories\u002Fproperty\u002Fmortgage-agreement",[40,44,48,52,56,60,64,68],{"title":41,"description":42,"link":43},"What Type of Deed Should I Use: General, Special, or Quit Claim Deed?","Differences between the Deeds General Warranty Deed A general warranty deed is the most common type of deed used for transferring real estate. It basically promises that: not only does the seller have good and proper title to sell the...","\u002Fguides\u002Fwhat-type-of-deed-should-i-use-general-special-or-quit-claim-deed",{"title":45,"description":46,"link":47},"When to Use a Quit Claim Deed","What Is a Quit Claim Deed? A deed is a legal document that substantiates an individual’s right to the title of a specific piece of property or real estate. Deeds are commonly used in the process of buying and selling real estate to secure and...","\u002Fguides\u002Fwhen-to-use-a-quit-claim-deed",{"title":49,"description":50,"link":51},"5 Important Facts about Quit Claim Deeds","Deeds are legal instruments used to transfer real estate, and almost everyone will encounter a deed of some sort at one time or another. There are three main types of deeds: General warranty deeds Special warranty deeds Quit claim deeds The...","\u002Fguides\u002F5-important-facts-about-quit-claim-deeds",{"title":53,"description":54,"link":55},"6 Ways to Defend Against Foreclosure on a Mortgage","When property is put in foreclosure, it means that the borrower is in default under the terms of the home loan and the lender is retaking title to the property. In states that allow use of a mortgage agreement, as opposed to a deed of trust,...","\u002Fguides\u002F6-ways-to-defend-against-foreclosure-on-a-mortgage",{"title":57,"description":58,"link":59},"How to Create Your Own Deed of Trust","When considering the question \"can I write my own deed of trust,\" it is important to understand the legal structure and parties involved in a trust deed. A trust deed is a legal document used in real estate transactions to secure a loan by transferring","\u002Fguides\u002Fhow-to-create-your-own-deed-of-trust",{"title":61,"description":62,"link":63},"Right of Survivorship: Everything You Need to Know","There are many things you should consider when you are purchasing property with another person. One of these things is called the right of survivorship. Right of survivorship can impact what happens to a property if one of the owners passes away before the other one. It is important to understand how this right works and how it can impact various fa","\u002Fguides\u002Feverything-you-need-to-know-about-right-of-survivorship",{"title":65,"description":66,"link":67},"Texas Quit Claim Deed: A Guide to Requirements, Forms, and Recording","A quit claim deed , sometimes called \"quitclaim\" deed, in Texas provides a straightforward method to transfer property ownership without warranties or guarantees about the title’s condition. Unlike a warranty deed, a quit claim deed does not guarantee clear title to the property, meaning the new owner receives whatever interest ...","\u002Fguides\u002Ftexas-quit-claim-deed-guide",{"title":69,"description":70,"link":71},"California Quit Claim Deed: A Guide to Requirements, Forms, and Recording","A quit claim deed in California, sometimes written \"quitclaim\" deed, provides a straightforward method to transfer property ownership without warranties or guarantees about the title's condition. Whether you're transferring property between family members, adding a spouse to title, or clearing up title issues, understanding California's specific requirements under the California ...","\u002Fguides\u002Fcalifornia-quit-claim-deed-guide",[73,76],{"label":74,"link":75},"All Documents","\u002Flegal-documents",{"label":16,"link":77},"\u002Fcategories\u002Fproperty","payload",{"landerVariant":80,"headline":6,"headlineAccent":81,"subtitle":82,"legacySubtitleHtml":83,"checkmarkText":81,"desktopImage":84,"mobileImage":95,"desktopImageUrl":82,"mobileImageUrl":82,"ctaType":101,"ctaText":81,"ctaLink":81},"design-test-v3",null,"","A real estate purchase agreement defines all the important terms in a real estate transaction between a buyer and seller. Use it to buy or sell property, a home, or even vacant land. Quickly solidify the parties’ intentions and bring the deal through to closing.",{"id":85,"alt":81,"updatedAt":86,"createdAt":87,"url":88,"thumbnailURL":81,"filename":89,"mimeType":90,"filesize":91,"width":92,"height":93,"focalX":94,"focalY":94},269,"2026-08-06T15:27:21.600Z","2026-08-06T15:27:21.527Z","https:\u002F\u002Fs3.us-east-2.amazonaws.com\u002Fshared-cms-main-media.legalnature.com\u002FREPA%20Preview%20D","REPA Preview D","image\u002Fwebp",315902,1200,1448,50,{"id":96,"alt":81,"updatedAt":97,"createdAt":98,"url":99,"thumbnailURL":81,"filename":100,"mimeType":90,"filesize":91,"width":92,"height":93,"focalX":94,"focalY":94},270,"2026-08-06T15:27:35.879Z","2026-08-06T15:27:35.824Z","https:\u002F\u002Fs3.us-east-2.amazonaws.com\u002Fshared-cms-main-media.legalnature.com\u002FREPA%20Preview%20M","REPA Preview M","standard",[],[104,112,153,159,163,193,199,216,220,247],{"id":105,"content":81,"legacyHtml":106,"variant":107,"anchorId":81,"alignment":108,"ctaText":81,"ctaLink":81,"padding":109,"blockName":81,"blockType":110,"visibility":111},"6a15a269f13133005943ed7c","\u003Ch2>What is a real estate purchase agreement?\u003C\u002Fh2>\n\u003Cp>A real estate purchase agreement is a legally binding contract between a buyer and seller that outlines the terms and conditions of a property sale, including the purchase price, earnest money deposit, closing date, contingencies, and specific obligations of both parties.\u003C\u002Fp>\n\u003Cp>\u003C\u002Fp>\n\u003Cp>This critical document serves as the foundation for the entire real estate transaction, establishing the rights and responsibilities of everyone involved while protecting both the buyer’s and seller’s interests throughout the purchase process. Purchase agreements are essential documents in real estate transactions. The agreement typically includes essential details such as property description, financing terms, inspection periods, title requirements, and what fixtures or personal property will be included in the sale, as well as the effective date, which marks when the agreement becomes legally binding and contractual obligations begin. Including specific terms in the agreement is vital to ensure clarity, legal compliance, and enforceability, making it one of the most important documents in any real estate transaction.\u003C\u002Fp>","default","left","medium","rich-content",{"hideOnMobile":81,"hideOnDesktop":81},{"id":113,"heading":114,"layout":115,"columns":116,"itemStyle":117,"blockName":81,"items":118,"blockType":151,"visibility":152},"6a15a269f13133005943ed80","Choose the right property transaction document for you","grid","3","card-with-image",[119,129,139],{"id":120,"title":34,"description":81,"legacyHtml":121,"image":122,"imageUrl":82,"url":35},"6a15a269f13133005943ed7d","A property deed is a legal document that officially transfers ownership of real estate from one party (the grantor) to another party (the grantee), and once properly executed, witnessed, notarized, and recorded with the county clerk's office, it provides public notice of the ownership change.",{"id":123,"alt":81,"updatedAt":124,"createdAt":125,"url":126,"thumbnailURL":81,"filename":127,"mimeType":90,"filesize":128,"width":92,"height":93,"focalX":94,"focalY":94},257,"2026-08-05T21:29:23.233Z","2026-08-05T21:29:23.134Z","https:\u002F\u002Fs3.us-east-2.amazonaws.com\u002Fshared-cms-main-media.legalnature.com\u002FProperty%20Deed%20Preview%20D","Property Deed Preview D",362066,{"id":130,"title":22,"description":81,"legacyHtml":131,"image":132,"imageUrl":82,"url":23},"6a15a269f13133005943ed7e","This type of deed is commonly used for transfers between family members, adding or removing a spouse from title during divorce, correcting title issues, or transferring property into a trust, but it offers the least protection to the buyer since the grantor makes no guarantees about ownership and will not be liable if title problems arise later.",{"id":133,"alt":81,"updatedAt":134,"createdAt":135,"url":136,"thumbnailURL":81,"filename":137,"mimeType":90,"filesize":138,"width":92,"height":93,"focalX":94,"focalY":94},247,"2026-08-05T20:58:47.453Z","2026-08-05T20:58:47.354Z","https:\u002F\u002Fs3.us-east-2.amazonaws.com\u002Fshared-cms-main-media.legalnature.com\u002FQCD%20Preview%20D","QCD Preview D",399460,{"id":140,"title":141,"description":81,"legacyHtml":142,"image":143,"imageUrl":82,"url":150},"6a15a269f13133005943ed7f","Lease Agreement","A lease agreement is a legally binding contract between a landlord (lessor) and tenant (lessee) that grants the tenant the right to occupy and use a property for a specified period in exchange for regular rent payments, while establishing the rights, responsibilities, and obligations of both parties including terms for rent amount, payment schedule, security deposits, maintenance duties, and rules for property use.",{"id":144,"alt":81,"updatedAt":145,"createdAt":146,"url":147,"thumbnailURL":81,"filename":148,"mimeType":90,"filesize":149,"width":92,"height":93,"focalX":94,"focalY":94},271,"2026-08-06T15:28:38.504Z","2026-08-06T15:28:38.419Z","https:\u002F\u002Fs3.us-east-2.amazonaws.com\u002Fshared-cms-main-media.legalnature.com\u002FLease%20Agreement%20Preview%20D","Lease Agreement Preview D",304436,"\u002Fcategories\u002Flandlord-and-tenant\u002Flease-agreement","list",{"hideOnMobile":81,"hideOnDesktop":81},{"id":154,"heading":155,"showStates":156,"hideOnStateOverride":156,"blockName":81,"blockType":157,"visibility":158},"6a15a269f13133005943ed81","Create a real estate purchase agreement in your state",false,"state-selector",{"hideOnMobile":81,"hideOnDesktop":81},{"id":160,"content":81,"legacyHtml":161,"variant":107,"anchorId":81,"alignment":108,"ctaText":81,"ctaLink":81,"padding":109,"blockName":81,"blockType":110,"visibility":162},"6a15a269f13133005943ed82","\u003Ch3>When to create a real estate purchase agreement\u003C\u002Fh3>\n\u003Cp>A real estate purchase agreement should be created immediately after a buyer and seller have verbally agreed on the essential terms of a property sale—including purchase price and basic conditions—but before any money changes hands or the transaction moves forward, as this document formalizes the deal and legally protects both parties throughout the entire buying process.\u003C\u002Fp>\n\u003Cp>\u003C\u002Fp>\n\u003Cp>The agreement is typically drafted after the buyer has viewed the property and made an offer that the seller has accepted (either as-is or after negotiations), and it must be executed before important next steps like home inspections, appraisals, title searches, and mortgage applications begin, since these contingencies and timelines are specified within the purchase agreement itself and govern how the transaction will proceed toward closing. Certain actions, such as notifying the seller of survey problems or title objections, must be completed within a specified number of business days prior to closing. If such event as a contingency not being met occurs, the agreement may be canceled or renegotiated according to the terms outlined in the contract.\u003C\u002Fp>",{"hideOnMobile":81,"hideOnDesktop":81},{"id":164,"heading":165,"blockName":81,"items":166,"blockType":191,"visibility":192},"6a15a269f13133005943ed89","Create your real estate purchase agreement in 6 easy steps",[167,171,175,179,183,187],{"id":168,"title":169,"description":81,"legacyHtml":170},"6a15a269f13133005943ed83","Fill out our intuitive online form","Collect the information and key points you wish to include in your real estate purchase agreement and utilize our online form to create the document. Be sure to provide buyer information, including full names and contact details, to ensure clarity in the agreement. You should also obtain the legal land description or other essential property information from county records or other sources.",{"id":172,"title":173,"description":81,"legacyHtml":174},"6a15a269f13133005943ed84","Review and Sign","You should review your completed agreement in detail and make any needed edits prior to signing. While many states only require a single notary to act as a witness, you must use two witnesses for agreements concerning properties in Connecticut, Florida, Louisiana, and South Carolina. Some lenders may still require additional witnesses. Witnesses must be at least 18 years old, hold no interest in the transaction, and have no blood relation to the parties. Note that if a seller’s spouse is not also joining the agreement as a seller, then the spouse must sign an acknowledgment agreeing not to make any claim of ownership to the property after the sale.",{"id":176,"title":177,"description":81,"legacyHtml":178},"6a15a269f13133005943ed85","Open Escrow","The parties will need to hire an escrow agent to manage the transaction. An escrow agent acts as a neutral third party to facilitate the buying process, including exchanging and holding funds, gathering signatures, dispersing documents, and certifying that the parties’ obligations are fulfilled.",{"id":180,"title":181,"description":81,"legacyHtml":182},"6a15a269f13133005943ed86","Complete Party Obligations","Standard party obligations include providing the following items: title policy, appraisal, property inspections, seller disclosures (e.g. lead paint disclosure), property repairs and updates, required permits, and other buyer or seller contingencies (e.g. prior home sale, financing, etc.). All matters disclosed by the seller regarding the property's condition must be documented and acknowledged by the buyer. Parties may also need to obtain additional documents, such as certificates or addendums, as part of the transaction.",{"id":184,"title":185,"description":81,"legacyHtml":186},"6a15a269f13133005943ed87","Close Escrow (\"Closing\")","During closing, the seller transfers funds to the buyer and signs over the title. Then the parties sign any remaining escrow documents. The title company will normally then record the deed at the county land recorder’s office and inform all parties when this is completed. Other documents, such as disclosures or addendums, may also be required to complete the transaction.",{"id":188,"title":189,"description":81,"legacyHtml":190},"6a15a269f13133005943ed88","Move Out","The last step is for the seller to exit the property on or before the agreed move-out date. This may need to be coordinated with the buyer’s moving plans and should be started well in advance.","steps",{"hideOnMobile":81,"hideOnDesktop":81},{"id":194,"content":81,"legacyHtml":195,"variant":196,"anchorId":81,"alignment":108,"ctaText":197,"ctaLink":81,"padding":81,"blockName":81,"blockType":110,"visibility":198},"6a15a269f13133005943ed8a","\u003Ch3>Why create a real estate purchase agreement?\u003C\u002Fh3>\n\u003Cp>A real estate purchase agreement is essential because it transforms a verbal understanding into a legally enforceable contract that protects both buyer and seller by clearly documenting all terms of the sale, establishing each party’s obligations, setting timelines for critical milestones, and providing legal recourse if either party fails to fulfill their commitments. A buyer's failure to meet obligations, such as securing financing or completing inspections, can result in cancellation of the agreement or loss of earnest money.\u003C\u002Fp>\n\u003Cp>\u003C\u002Fp>\n\u003Cp>Without this binding document, buyers risk losing their earnest money deposit or having sellers back out of deals arbitrarily, while sellers have no guarantee that buyers will actually complete the purchase or secure financing. The agreement outlines the buyer's responsibilities and protections, helping to ensure that both parties are aware of their rights and obligations, and reducing the risk of financial losses, wasted time, and costly disputes that could have been prevented through clear contractual terms.\u003C\u002Fp>","highlight","Create Your Real Estate Purchase Agreement Today",{"hideOnMobile":81,"hideOnDesktop":81},{"id":200,"heading":201,"description":81,"legacyHtml":202,"image":203,"imageUrl":212,"layout":213,"blockName":81,"blockType":214,"visibility":215},"6a15a269f13133005943ed8b","Why choose LegalNature?","The professionals at LegalNature offer the expertise and guidance to navigate the nuances of creating a real estate purchase agreement across all 50 states and the District of Columbia. LegalNature offers a 30-day money-back guarantee. If you're not happy, then we’re not happy. Give us a call and let us help.",{"id":204,"alt":81,"updatedAt":205,"createdAt":206,"url":207,"thumbnailURL":81,"filename":208,"mimeType":90,"filesize":209,"width":210,"height":211,"focalX":94,"focalY":94},218,"2026-07-29T18:21:40.238Z","2026-07-29T18:21:40.153Z","https:\u002F\u002Fs3.us-east-2.amazonaws.com\u002Fshared-cms-main-media.legalnature.com\u002FWhy%20Choose","Why Choose",204042,786,958,"https:\u002F\u002Fcdn.buttercms.com\u002F0psHhkORYKU5bpz09RWA","image-right","media-content",{"hideOnMobile":81,"hideOnDesktop":81},{"id":217,"content":81,"legacyHtml":218,"variant":107,"anchorId":81,"alignment":108,"ctaText":81,"ctaLink":81,"padding":109,"blockName":81,"blockType":110,"visibility":219},"6a15a269f13133005943ed8c","\u003Ch2>Real estate purchase agreement help guide\u003C\u002Fh2>\n\u003Cp>A real estate purchase agreement helps you state all of the important details, including the full names of the parties, the location of the property, a clear description of the real property being sold, the purchase price, the closing date, mortgage and escrow specifications, and any other specific promises of the parties.\u003C\u002Fp>\n\u003Cp>\u003C\u002Fp>\n\u003Cp>A strong real estate purchase agreement should include protections for the parties at every step of the way. Besides the standard clauses, the parties should be able to customize the following terms according to their preferences:\u003C\u002Fp>\n\u003Cul>\n\u003Cli>\n\u003Cp>Whether a party is an individual, a married couple, a business entity, or a trust, as this affects how the deed transfer will proceed\u003C\u002Fp>\n\u003C\u002Fli>\n\u003Cli>\n\u003Cp>An itemization of the personal property that the seller agrees will remain on the property and which fixtures the seller will remove before closing\u003C\u002Fp>\n\u003C\u002Fli>\n\u003Cli>\n\u003Cp>The purchase price and earnest money deposit, including how seller credits may be applied toward the buyer's down payment or closing costs\u003C\u002Fp>\n\u003C\u002Fli>\n\u003Cli>\n\u003Cp>The buyer’s assumption of any leases for tenants living on the property\u003C\u002Fp>\n\u003C\u002Fli>\n\u003Cli>\n\u003Cp>The buyer’s contingencies required for the deal, including how it will be financed (third-party lending, seller financing, loan assumption, all-cash deal, or other financing), whether the property must be appraised, whether the property must be inspected, and whether the deal is contingent on the buyer first selling his or her primary residence or other property first; proceeds from the sale of a primary residence can be used for the down payment\u003C\u002Fp>\n\u003C\u002Fli>\n\u003Cli>\n\u003Cp>Any repairs required before closing\u003C\u002Fp>\n\u003C\u002Fli>\n\u003Cli>\n\u003Cp>Any special terms agreed to by the parties\u003C\u002Fp>\n\u003C\u002Fli>\n\u003C\u002Ful>\n\u003Cp>The agreement should also specify the seller's responsibilities for disclosures and property condition. It should outline which party pays for specific expenses in the transaction, such as stating that the buyer pays earnest money, contract fees, and closing costs.\u003C\u002Fp>\n\u003Cp>\u003C\u002Fp>\n\u003Ch4>Party Details\u003C\u002Fh4>\n\u003Cp>First, you will add basic information about each party, including the names, party type, and addresses. Parties may be married individuals, unmarried individuals, businesses, or trustees.\u003C\u002Fp>\n\u003Cp>\u003C\u002Fp>\n\u003Ch4>Buyer Contingencies\u003C\u002Fh4>\n\u003Cp>Buyers will often include specific contingencies in the agreement. These are the conditions that the buyer requires to be met before closing can occur. In the event that a contingency is not met, the buyer may terminate the agreement and be refunded the earnest money and any other deposits made. However, the buyer may always choose to disregard a contingency later on if it is no longer required. The buyer always has the option to waive a contingency later on if it is no longer needed. LegalNature’s agreement includes options for adding the standard contingencies, including contingencies for receiving financing, property appraisal, inspection, and prior property sale contingencies.\u003C\u002Fp>\n\u003Cp>\u003C\u002Fp>\n\u003Cp>A financing contingency requires that the buyer receives financing in order to close the deal. You will select the appropriate type of financing required, such as through a third-party lender, a mortgage assumption, seller financing, an all-cash transaction, or another form. A third-party lender is a traditional lending institution. A mortgage assumption is when the buyer agrees to take responsibility for the seller’s mortgage, thereby becoming liable to repay the seller’s loan. Seller financing is when the seller and buyer create a private loan contract. Lastly, all cash financing is when the buyer will finance the deal by itself. The funds do not actually need to be in the form of cash, as electronic wire transfers are normally accepted.\u003C\u002Fp>\n\u003Cp>\u003C\u002Fp>\n\u003Cp>Under an appraisal contingency, the property must receive a professional appraisal at a value of at least the amount of the purchase price. If this does not occur, then the buyer can choose to cancel the agreement or try to renegotiate a lower purchase price. LegalNature’s agreement requires that the appraisal occur within 10 business days of signing, but you may change this if the parties agree. You will also indicate which party is responsible for covering the cost of the appraisal.\u003C\u002Fp>\n\u003Cp>\u003C\u002Fp>\n\u003Cp>Likewise, an inspection contingency requires that a professional inspection of the property occur prior to closing. If it does not occur or if an inspector discovers a material defect, then the buyer may either cancel the agreement or require the defect to be repaired. Again, our agreement requires the inspection to happen within 10 business days of signing, but you may change this if needed.\u003C\u002Fp>\n\u003Cp>\u003C\u002Fp>\n\u003Cp>Finally, the buyer may require that the deal is contingent on the sale of the buyer’s home or other property prior to closing.\u003C\u002Fp>\n\u003Cp>\u003C\u002Fp>\n\u003Ch4>Required Repairs\u003C\u002Fh4>\n\u003Cp>Your agreement should also indicate whether the property will need any repairs for any issues with the foundation, walls, support structures, roof, water and electrical systems, plumbing, or mechanical systems. Unless the buyer agrees otherwise, the seller will be responsible for fixing all such issues.\u003C\u002Fp>\n\u003Cp>\u003C\u002Fp>\n\u003Ch4>Executing the Agreement\u003C\u002Fh4>\n\u003Cp>To formally make the agreement effective, the parties must sign and date it in front of a notary and\u002For witnesses. In the majority of states, only a notary is required. You will need two witnesses to sign in Connecticut, Florida, Louisiana, and South Carolina, but you can use a notary to stand in for one of the witnesses if needed. Some lenders may still require additional witnesses. Witnesses must be at least 18 years old, hold no interest in the transaction, and have no blood relation to the parties.\u003C\u002Fp>\n\u003Cp>\u003C\u002Fp>\n\u003Ch4>State and Federal Disclosure Requirements\u003C\u002Fh4>\n\u003Cp>Federal law requires the parties to sign a lead paint disclosure statement for properties being sold that were constructed prior to 1978. LegalNature includes this disclosure with your agreement. Sellers need to store their signed copy of the disclosure for at least three years.\u003C\u002Fp>\n\u003Cp>\u003C\u002Fp>",{"hideOnMobile":81,"hideOnDesktop":81},{"id":221,"heading":222,"background":223,"blockName":81,"items":224,"blockType":245,"visibility":246},"6a15a269f13133005943ed92","Frequently Asked Questions","white",[225,229,233,237,241],{"id":226,"question":227,"answer":81,"legacyHtml":228},"6a15a269f13133005943ed8d","Where can I find my property's legal description?","\u003Cp>A legal description is a specific way of identifying a particular plot of real estate and the legal geographic location of its boundaries. You can find the legal description on the property's current or previously recorded deeds, your County Register or Recorder of Deeds Office (often online), property tax assessments, websites such as Zillow.com, your mortgage contract, or your land title.\u003C\u002Fp>\n\u003Cp>\u003Cstrong>The legal description is NOT the same as a property’s street address\u003C\u002Fstrong>, as this may change from time to time. However, it is still recommended to include the street address on a deed, for the sake of clarity. Depending on the type of property, the legal description might be in the form of a simple lot and block reference, or it may be in a survey format giving a detailed measurement of the plot. It is crucial to get the legal description correct to complete a sale or transfer.\u003C\u002Fp>",{"id":230,"question":231,"answer":81,"legacyHtml":232},"6a15a269f13133005943ed8e","What does “closing” mean?","\u003Cp>Closing is the final settlement of all the terms required in a real estate purchase agreement. This includes all contingency provisions that both parties have included, the documents that need to be exchanged, and any sums of money that need to be paid.\u003C\u002Fp>",{"id":234,"question":235,"answer":81,"legacyHtml":236},"6a15a269f13133005943ed8f","What is a contingency?","\u003Cp>In terms of a real estate purchase agreement, a contingency is a contractual requirement that must be completed in order for the purchase to be completed. Contingencies are added as terms to the written purchase contract that both the buyer and seller agree to. Common contingencies include the following:\u003C\u002Fp>\n\u003Cul>\n\u003Cli>Clear title\u003C\u002Fli>\n\u003Cli>Buyer's mortgage approval\u003C\u002Fli>\n\u003Cli>House inspection\u003C\u002Fli>\n\u003Cli>Sale of current property\u003C\u002Fli>\n\u003Cli>Lead-based paint inspection\u003C\u002Fli>\n\u003Cli>Homeowners' Association (HOA) documents\u003C\u002Fli>\n\u003C\u002Ful>",{"id":238,"question":239,"answer":81,"legacyHtml":240},"6a15a269f13133005943ed90","What is an encroachment?","\u003Cp>In the context of real estate, an encroachment is a type of encumbrance characterized by a physical intrusion on a property owner's land. An example of an encroachment is when a person constructs a structure that extends beyond the boundaries of his or her property and onto, over, or underneath the neighboring property. Here, the person is said to be \"encroaching\" on the neighbor's property.\u003C\u002Fp>",{"id":242,"question":243,"answer":81,"legacyHtml":244},"6a15a269f13133005943ed91","What is escrow?","\u003Cp>Escrow is an arrangement where a third party holds funds and manages payments. Escrow arrangements are normally enforced when large sums of money change hands, such as real estate purchases. The third-party will safeguard funds until the terms of a contract are fulfilled. This way, the two contracting parties are kept safe without needing to transfer money to each other.\u003C\u002Fp>","faqs",{"hideOnMobile":156,"hideOnDesktop":156},{"id":248,"headline":249,"text":250,"image":251,"ctaText":81,"blockName":81,"blockType":252,"visibility":253},"6a74a833bd51de144e96e6fd","Start Your Real Estate Purchase Agreement","Complete your real estate purchase agreement in minutes with LegalNature's intuitive, step-by-step guidance.",{"id":85,"alt":81,"updatedAt":86,"createdAt":87,"url":88,"thumbnailURL":81,"filename":89,"mimeType":90,"filesize":91,"width":92,"height":93,"focalX":94,"focalY":94},"get-started",{"hideOnMobile":81,"hideOnDesktop":81},{"title":255,"description":256,"keyword":257,"og_image":258},"Real Estate Purchase Agreement | Create & Print - LegalNature","Use our real estate purchase agreement template to list all of the important terms in a real estate transaction between a buyer and seller. This contract is vital for solidifying the parties’ intentions and bringing the deal through to a closing.  The property purchase agreement helps you state all of the important details, including the full names of the parties, the location of the property, the purchase price, the closing date, mortgage and escrow specifications, and any other specific promises of the parties.  Our online form will guide you through each step of the process, making it easy to create a well-drafted real estate purchase agreement in minutes.","Real Estate Purchase Agreement, real estate purchase agreement template","https:\u002F\u002Fs3.us-east-2.amazonaws.com\u002Fshared-cms-main-media.legalnature.com\u002FN3yLI6aaQaCMo7RwtLD6.jpg",{"headline":260,"image":261,"imageUrl":82,"steps":270},"Create your real estate purchase agreement in minutes",{"id":262,"alt":81,"updatedAt":263,"createdAt":264,"url":265,"thumbnailURL":81,"filename":266,"mimeType":90,"filesize":267,"width":268,"height":269,"focalX":94,"focalY":94},272,"2026-08-06T15:29:59.090Z","2026-08-06T15:29:59.012Z","https:\u002F\u002Fs3.us-east-2.amazonaws.com\u002Fshared-cms-main-media.legalnature.com\u002FYVakVKcyTfNqMnTldpoQ","YVakVKcyTfNqMnTldpoQ",67878,1134,690,[271,274,277],{"id":272,"text":273},"6a15a269f13133005943ed93","Complete our form",{"id":275,"text":276},"6a15a269f13133005943ed94","Preview and download your document",{"id":278,"text":279},"6a15a269f13133005943ed95","Review and sign your document"]