Fillable Form Real Estate Purchase Agreement

What is a Real Estate Purchase Agreement?

A Real Estate Purchase Agreement, also known as a “real estate sales contract,” is a legally binding agreement between a buyer and a seller that governs the sale of a property. It spells out the agreed-upon terms under which both parties agree to engage in a real estate transaction.

A Real Estate Purchase Agreement Form is usually written by the buyer’s agent. Real estate agents cannot draft their legal contracts unless they are legally licensed to practice law. Instead, firms will often use standardized form contracts that allow agents to fill in the blanks with the specifics of the sale.

A real estate sales contract and purchase agreement is a lengthy document that lays out all of the details of a property transaction. Several common elements can be found within the pages of a Real Estate Purchase Agreement Template, including the following:

• Buyer and Seller Information: All buyers and sellers participating in the transaction should include their full names and contact information.
• Property Details: The address and description of the property, and any other applicable information.
• Purchase Price: The overall agreed-upon selling price for the property, including any deposits or other transaction-related charges.
• Representations and Warranties: The seller’s statements of fact about the condition, structure, and composition of the property being sold.
• Financing: Detailed information about how the buyer will pay for the property, including whether the buyer will take out a mortgage loan or assume the seller’s current mortgage.
• Fixtures and Appliances: Any household appliances or wall-mounted items and fixtures included or excluded from the real estate sale.
• Title Insurance: A statement specifying whether the buyer or seller is responsible for obtaining title insurance to safeguard the property against discoverable faults.
• Property Taxes: Citations regarding any property taxes that will be imposed on the property being sold.
• Closing Date: The date and time of the legal transfer of title, as well as when and how the buyer will receive the keys to the property.
• Contingencies: Any conditions that must be met before the property can be sold (such as repairs that must be completed by a specific date or inspections that must be performed).
• Earnest Money: The terms of any earnest money security deposits are required to demonstrate to the seller that the buyer is serious about purchasing the property.
• Option to Terminate: Some purchase agreements give the buyer the option to back out of the deal and terminate the contract until a specific date before closing.
• Lead-Based Paint Disclosure: Homes built before 1978 are obliged by law to include information about the dangers of lead-based paint, allowing the buyer the opportunity to have an inspection performed if necessary.
• Signatures: Both parties must sign the purchase agreement before it can be finalized.

How to fill out a Real Estate Purchase Agreement?

Using PDFRun, you can electronically fill out and download a PDF copy of the Real Estate Purchase Agreement PDF in minutes. Fill it out by following the instructions below.

Effective Date

Enter the agreement’s effective date following the format: Day, Month, Year.

Buyer

Enter the buyer’s name and entity to which the property purchase is under. Examples of entities include the following: individual, corporation, limited liability company, partnership, limited partnership, limited liability partnership, or a trust.

Select from the drop-down list the state and enter the county where the buyer is located.

Seller

Enter the seller’s name and entity to which the property sale is under. Examples of entities include the following: individual, corporation, limited liability company, partnership, limited partnership, limited liability partnership, or a trust.

Select from the drop-down list the state and enter the county where the seller is located.

Property

This section states that the seller hereby agrees to sell and convey to the buyer, and the buyer hereby agrees to purchase from the seller, all of the seller’s right, title, and interest in the real property located at (enter the address where the property is located) with the legal description (enter the legal description of the property).

Personal Property

This section states that:

a. The sale includes all of the seller’s rights, title, and interest, if any, to all real estate, buildings, improvements, appurtenances, and fixtures (except as described below). Fixtures shall include all things that are embedded in the land or attached to any buildings and cannot be removed without damage to the property. In addition, the following items shall be included in the sale: (enter a list of the items).

b. The following fixtures and items are excluded from the sale: (enter a list of the items).

Purchase Price

This section states that the total purchase price for the property is (enter the amount in dollars), payable by the buyer as follows:

a. Previous Deposit. (Enter the amount in dollars), previously paid by the buyer to the seller on (enter the date following the format: MM/DD/YYYY) to be applied to the purchase price at the closing.

b. Earnest Money Deposit. (Enter the amount in dollars), due upon the signing of this agreement, the receipt of which is hereby acknowledged, to be held in escrow under this agreement. The deposit shall be applied to the purchase price at the closing.

c. Closing Balance. (Enter the amount in dollars), due upon the delivery of the general warranty deed at the closing. This amount is subject to change based on adjustments made under this agreement.

d. Other. (Enter another amount in dollars).

This section further states that all payments shall be made in proceeds that are immediately available to the seller by one of the following methods. You may select all that apply.

• Certified Check

• Official Bank Check

• Wire Transfer

• Other – Specify in the space provided.

Disclosures

This section states that the seller shall provide the buyer with all disclosures, including signed disclosure forms, as required by federal, state, and local law. The seller shall also disclose to the buyer in writing any defects in the property known to the seller that materially affects the value or quiet enjoyment of the property.

This section further states that the buyer’s obligations under this agreement are contingent upon the buyer’s review and approval of all required seller disclosures and reports, including any preliminary title report.

Assumption of Loan

This section states that the buyer shall assume the seller’s existing mortgage owed to (enter the name of the institution), dated (enter the date following the format: MM/DD/YYYY), having a present balance of (enter the amount in dollars). The buyer agrees to assume and pay the mortgage by its terms for all payments due after the closing. All fees associated with the transfer of the mortgage shall be paid by the (enter if buyer or seller).

Financing Contingency

This section states that the buyer’s obligations under this agreement are contingent upon the buyer’s ability to obtain a firm commitment for a mortgage loan within a reasonable period or within (enter the number of days) days after the execution of this agreement upon terms acceptable to the buyer in the buyer’s sole discretion or commercially reasonable terms, or in the amount of (enter the amount in dollars) which is at least (enter the number of years) years with an interest rate not to exceed (enter the percentage) percent. If the buyer is unable to obtain such commitment within the time specified herein, the buyer must notify the seller within such time, and this agreement shall be terminated and all amounts paid shall be returned to the buyer.

Sale of Other Property Contingency

This section states that the buyer’s obligations under this agreement are contingent upon the buyer’s sale and closing of the buyer’s property located at (enter where the property is located).

Seller Representations and Warranties

This section states that the seller represents and warrants the following covenants. You may select all that apply.

• The seller is the sole owner of the record of the property and has full right, power, and authority to sell, convey, and transfer the property.
• The seller will convey to the buyer good and marketable title to the property by providing the buyer a valid general warranty deed.
• The property and the present use of the property are not in violation of any governmental rules, codes, permits, regulations, or limitations, and represent that nothing will be done or allowed to be done on or about the property between the signing of this agreement and the date of the closing which will result in any such violation.
• The seller is not a “foreign person” as defined in Section 1445(f) of the Internal Revenue Code of 1986, as amended.
• Any mortgage liens on the property will have been released on the date of the closing.
• The seller does not know of the existence of any municipal lien and/or assessment.
• The seller has neither knowledge nor notice of any pending public agency hearings or appeals affecting the property and will promptly notify the buyer if the seller receives notice or learns of any such hearings between the signing of this agreement and the date of the closing.
• The seller is not a “debtor” in proceeding presently in any bankruptcy court.
• The seller shall maintain the current insurance policy on the property until the closing.
• The seller will notify the buyer immediately of any matters that may impact the property, including but not limited to, attachments, liens, and any notice zoning matters.
• Any material alterations, additions, or improvements to the property have been made pursuant to and in accordance with the necessary and required filings, permits, authorizations, and/or consents.

Inspection

This section states that the buyer’s obligations under this agreement are contingent upon the buyer’s inspection of the property. The buyer may use any inspectors of the buyer’s choice, at the buyer’s expense. The seller shall cooperate in making the property reasonably available for the buyer’s inspection. If the buyer is not, in good faith, satisfied with the condition of the property after any inspection thereof, the buyer shall deliver to the seller a written request that the seller fixes or remedy any unsatisfactory conditions. If the buyer and the seller are unable to reach an agreement regarding fixing or remedying the unsatisfactory conditions on or before (enter the month and year), the buyer shall have the right to terminate this agreement and be refunded any amounts previously paid under this agreement.

Title Insurance

This section states that as a condition to the closing, the buyer shall obtain, at the (enter if buyer or seller) expense, a title insurance policy by a title insurance company selected by (enter if buyer or seller) which is authorized to do business in (enter the title company) subject only to the following stipulations. You may select all that apply.

• Any restrictions, limitations, regulations, ordinances, and/or laws imposed by any governmental authority and any other provisions of any governmental restrictions, limitations, regulations, ordinances, and/or public laws.

• Any liens for real property taxes or assessments created or attached between the date of the title policy and the date the deed or instrument of transfer is recorded.

• Any material defect, lien, or encumbrance created, suffered, assumed, or known by the buyer.

• Any rights of eminent domain.

• Any claim under bankruptcy or other creditor’s rights laws that the transfer is a fraudulent conveyance.

• Other – Specify in the space provided.

Promptly after the date hereof, the buyer shall order a preliminary title report from the title company. Within (enter the number of days) days of receiving the report, the buyer shall forward a copy of the report to the seller and shall have (enter the number of days) days after receipt of the buyer’s objections to correct or address the objections. If the seller fails to correct or address the objections within the specified period, the buyer shall have the right to terminate this agreement and be refunded any amounts previously paid under this agreement.

Closing

This section states that the closing of this transaction shall occur on (enter the month and year) and shall take place at (enter the address) unless otherwise agreed upon by mutual consent of the parties. The buyer has the right to make a final inspection of the property before the closing.

Seller Closing Deliverables

This section states that at the closing, the seller shall deliver to the buyer the following items. You may select all that apply.

• A general warranty deed conveying to the buyer the title to the property, duly executed and acknowledged by the seller.
• A certificate from the seller certifying that the seller’s representations and warranties in this agreement are true and correct as of the date of the closing.
• Such affidavits or other evidence as the title company shall reasonably require for its title insurance policy.
• All keys to doors and mailboxes, codes to any locks, and owner’s manuals for appliances and fixtures.
• Any other documents, certificates, notices, affidavits, or statements required by this agreement, the title company, the escrow agent (if any), or the law to complete the transaction.
• A certificate from the seller certifying that the seller is not a foreign person.

Buyer Closing Deliverables

This section states that at the closing, the buyer shall deliver the seller the following items. You may select all that apply.

• The full amount of the balance of the purchase price, as adjusted by any pro-rations or credits.
• Such affidavits or other evidence as the title company shall reasonably require for its title insurance policy.
• Any other documents, certificates, notices, or statements required by this agreement, the title company, the escrow agent (if any), or the law to complete the transaction.

Seller Closing Costs

This section states that on or before the closing, the seller shall pay the following fees. You may select all that apply.

• One half of any escrow (or all escrow) or closing fees. – Mark the appropriate box. You may select:
  • Yes
  • No
• All transfer taxes and conveyance fees. – Mark the appropriate box. You may select:
  • Yes
  • No

• All costs of releasing any mortgage, financing statement, or other debt security.
• All costs of removing, remedying, or curing any contingencies.

• All costs related to the preparation of the deed.

• Any broker commissions or fees.

• Any property gains tax, as required by federal or state law.

• Other – Specify in the space provided.

Buyer Closing Costs

This section states that on or before the closing, the buyer shall pay the following fees. You may select all that apply.

• One half of any escrow (or all escrow) or closing fees. – Mark the appropriate box. You may select:
  • Yes
  • No
• All transfer taxes and conveyance fees. – Mark the appropriate box. You may select:
  • Yes
  • No
• All costs related to the recording of the deed.
• All costs or expenses related to obtaining financing, including origination or commitment fees and the lender’s title insurance policy.
• All other costs and expenses associated with this agreement, unless otherwise agreed to by the parties.

Delayed Closing

This section states that the closing may be extended an additional (enter the number of days) days if the buyer’s lender requires additional documentation or information. The delay in the closing will not be the fault of the buyer.

Risk of Loss

This section states that the seller assumes the risk of loss or damage by fire, natural disaster, or other casualties to the property until the closing. If all or a portion of the property is destroyed or otherwise materially damaged before the closing, the buyer shall have the option to complete the transaction and receive any insurance proceeds payable or to terminate this agreement and be refunded any amounts previously paid under this agreement.

Possession of the Property

This section states that the seller shall deliver exclusive possession of the property on (enter the month and year).

Assumption of Leases

This section states that the property is currently subject to the following lease or rental agreements:

• (Enter the type of lease) by and between the seller and (enter the name of the lessee), dated (enter the date following the format: MM/DD/YYYY).

• Other – (Enter another).

By the required disclosures under this agreement, the seller shall provide the buyer with copies of all the lease or rental agreements. The seller represents and warrants that the transaction does violate the terms of the lease and the seller will notify existing tenants under the leases of the change in ownership before the closing. At the closing, the seller shall deliver to the buyer an assignment and assumption of the lease agreement for each lease, as well as all security deposits and advance payments related to the leases.

Buyer’s Lien

This section states that all sums paid on account of this agreement and the reasonable expenses related to the examination of title are hereby made a lien upon the property, but such lien shall not continue after default by the buyer hereunder.

Condition of Property

This section states that the buyer acknowledges that the buyer is purchasing the property “AS IS” in the condition that it is in at the buyer’s final inspection. The seller agrees that the property shall be in the same condition on the date of the closing as of the date that the buyer’s final inspection is completed.

Real Estate Taxes

This section states that all real property taxes and adjustments which are delinquent shall be paid at the closing out of funds due to the seller. Any non-delinquent real property taxes and adjustments, if any, shall be apportioned pro rata on an accrual basis.

Default

This section states that in the event the buyer defaults, the buyer shall forfeit the deposit to the seller as liquidated damages, which shall be the sole and exclusive remedy available to the seller. In the event the seller defaults, the deposit shall be refunded to the buyer, and the buyer may sue for all remedies available at law or in equity.

Acceptance of Deed

This section states that the delivery and acceptance of the deed herein described shall be deemed to constitute full compliance with all the terms, conditions, covenants, and representations contained herein, or made in connection with the transaction, except as may herein be expressly provided and except for the warranties of title.

Bankruptcy

This section states that in the event a bankruptcy petition is filed naming the seller as a debtor under any Bankruptcy Code, between the signing of this agreement and the closing, then this agreement shall be terminated and the buyer shall be entitled to a refund of any sums paid under this agreement.

Attorney’s Fees

This section states that in the event of any litigation brought in law or equity to enforce any material provision of this agreement, the prevailing party shall be entitled to recover its reasonable attorneys’ fees and court costs from the other party, except as otherwise expressly provided in this agreement.

Governing Law

This section states that the terms of this agreement shall be governed by and construed by the laws of the state of (select from the drop-down list), not including its conflicts of law provisions.

Disputes

This section states that any dispute arising from this agreement shall be resolved in the courts of the state of (select from the drop-down list) through binding arbitration conducted by the rules of the American Arbitration Association or through mediation. If the dispute cannot be resolved through mediation, then the dispute will be resolved through binding arbitration conducted by the rules of the American Arbitration Association.

Notices

This section states that any notice or other communication given or made to any party under this agreement shall be in writing and delivered by hand, sent by overnight courier service, or sent by certified or registered mail, return receipt requested, to the following addresses:

• Enter the seller’s name and mailing address (including city, state, and ZIP code).

• Enter the buyer’s name and mailing address (including city, state, and ZIP code).

Assignment

This section states that this agreement and the buyer’s rights under this agreement may not be assigned by the buyer without the express written consent of the seller.

Amendment

This section states that this agreement may be amended or modified only by a written agreement signed by all of the parties.

Waiver

This section states that no party shall be deemed to have waived any provision of this agreement or the exercise of any rights held under this agreement unless such waiver is made expressly and in writing. A waiver by any party of a breach or violation of any provision of this agreement shall not constitute a waiver of any other subsequent breach or violation.

Binding Effect

This section states that this agreement shall be binding upon and inure to the benefit of the parties and their respective legal representatives, heirs, executors, administrators, successors, and permitted assigns.

Counterparts

This section states that this agreement may be executed in one or more counterparts, each of which shall be deemed to be an original, and all of which together shall constitute the same document.

Severability

This section states that if any provision of this agreement is held to be invalid, illegal, or unenforceable in whole or in part, the remaining provisions shall not be affected and shall continue to be valid, legal, and enforceable as though the invalid, illegal, or unenforceable parts had not been included in this agreement.

Headings

This section states that the section headings herein are for reference purposes only and shall not otherwise affect the meaning, construction, or interpretation of any provision in this agreement.

Entire Agreement

This section states that this agreement contains the entire understanding between the parties and supersedes and cancels all prior agreements of the parties, whether oral or written, concerning the subject matter.

Miscellaneous

Enter other miscellaneous concerns regarding this agreement.

Seller Full Name

Enter the seller’s full name.

Seller Representative Signature

Affix the seller representative’s signature.

Seller Representative Name and Title

Enter the seller representative’s name and title.

Seller Signature

Affix the seller’s signature.

Seller Full Name

Enter the seller’s full name.

Buyer Full Name

Enter the buyer’s full name.

Buyer Representative Signature

Affix the buyer representative’s signature.

Buyer Representative Name and Title

Enter the buyer representative’s name and title.

Buyer Signature

Affix the buyer’s signature.

Buyer Full Name

Enter the buyer’s full name.

Disclosure Of Information on Lead-Based Paint and/or Lead-Based Paint Hazards

Lead Warning Statement

This section states that housing built before 1978 may contain lead-based paint. Lead from paint, paint chips, and dust can pose health hazards if not managed properly. Lead exposure is especially harmful to young children and pregnant women. Before renting pre-1978 housing, the lessors must disclose the presence of known lead-based paint and/or lead-based paint hazards in the dwelling. The lessees must also receive a federally approved pamphlet on lead poisoning prevention.

Seller’s Disclosure

This section states that:

1. Mark the appropriate box indicating the presence of known lead-based paint and/or lead-based paint hazards. You may select:

• Known lead-based paint and/or lead-based paint hazards are present in the housing. – Explain further in the space provided.

• The seller has no knowledge of lead-based paint and/or lead-based paint hazards in the housing.

1. Mark the appropriate box indicating records and reports available to the lessor.

• The seller has provided the lessee with all available records and reports about lead-based paint and/or lead-based paint hazards in the housing. – Enter a list of documents in the space provided.

• The seller has no reports or records about lead-based paint and/or lead-based paint hazards in the housing.

Buyer’s Acknowledgment

Mark the appropriate box indicating the buyer’s initial acknowledgment. You may select:

• The buyer has received copies of all information listed above.
• The buyer has received the pamphlet Protect Your Family from Lead in Your Home.

Agent’s Acknowledgment

Mark the box indicating the agent’s initial acknowledgment.

• The agent has informed the seller of the seller’s obligation under 42 U.S.C. §4852d and is aware of his or her responsibility to ensure compliance.

Certification of Accuracy

By signing, the following parties have reviewed the information above and certify, to the best of their knowledge, that the information they have provided is true and accurate.

Signature of Seller

Affix the seller’s signature.

Date Signed

Enter the date the seller signed this disclosure.

Signature of Buyer

Affix the buyer’s signature.

Date Signed

Enter the date the buyer signed this disclosure.

Signature of Agent

Affix the agent’s signature.

Date Signed

Enter the date the buyer signed this disclosure.