Property sale contract template (US)

Residential Real Estate Purchase Agreement

This Agreement is made on Effective Date between Seller Names at Seller Address ("Seller") and Buyer Names at Buyer Address ("Buyer").

1. Property

Seller will sell, and Buyer will buy, the real property at Property Address, City, County, State and ZIP, with this legal description: Legal Description or Parcel Number, together with its fixtures and these items: Included Items, but not: Excluded Items.

2. Price

| Item | Amount |

| --- | --- |

| Purchase price | $Purchase Price |

| Earnest money | $Earnest Money |

| Loan amount, if any | $Loan Amount |

| Balance due at closing | $Balance at Closing |

Buyer will deposit the earnest money with Escrow Agent or Title Company within Earnest Money Days days after signing.

3. Financing

The box marked applies: ☐ This is a cash purchase, and Buyer will give proof of funds within Proof of Funds Days days. ☐ This purchase depends on Buyer obtaining a Loan Type loan by Loan Commitment Date. Buyer will apply promptly and in good faith, and may cancel with refund of the earnest money by written notice before that date if the loan is denied.

4. Inspection

Buyer may have the property inspected at its own cost within Inspection Days days after signing. In that time Buyer may cancel by written notice, with refund of the earnest money, or ask for repairs. Buyer will repair any damage its inspections cause.

5. Disclosures

Seller will deliver every property condition disclosure that state or local law requires, within the time set by law. If the home was built before 1978, Seller will give the federal lead-based paint disclosure and EPA pamphlet under 42 U.S.C. § 4852d, and Buyer has 10 days to test for lead, unless Buyer waives this in writing. The completed lead disclosure form is attached and was given to Buyer before Buyer became bound.

6. Title

Seller will convey good and marketable title by Deed Type free of liens, apart from recorded easements and restrictions that do not materially interfere with normal use. Buyer may obtain a title commitment, and has Title Objection Days days to object to a defect. If Seller does not cure it before closing, Buyer may cancel and receive its earnest money back, or accept the title as it is.

7. Closing and Costs

Closing will take place on or before Closing Date at Closing Place. Property taxes, rent and association dues are prorated to the closing date. Seller pays: Seller Closing Costs. Buyer pays: Buyer Closing Costs. Local custom and law may require an attorney or a particular form of closing. If Seller is a foreign person, tax withholding under 26 U.S.C. § 1445 (FIRPTA) may apply, and Seller will give the required certificate or allow the withholding.

8. Possession and Condition

Seller will give possession on Possession Date and Time, with the property vacant and clean, and in the same condition as on the date of this Agreement, apart from normal wear and agreed repairs. Buyer may walk through within Walk-Through Hours hours before closing. If the property suffers major damage before closing, Buyer may cancel and receive its earnest money back, or close and receive any insurance proceeds.

9. Default

If Buyer defaults without a right to cancel, Seller may keep the earnest money as liquidated damages, as its only remedy, where the law allows. If Seller defaults, Buyer may have the earnest money returned, and may seek specific performance or damages.

10. Brokers

The parties were represented by: Brokers and Agents or None. Commissions are paid under separate written agreements. Each party confirms that there is no other broker.

11. Fair Housing

This sale is subject to federal, state and local fair housing laws.

12. General Terms

This Agreement is governed by the laws of the State of Property State, where the property is located. It is the parties' complete agreement, and may be changed only in a writing signed by both. Time is of the essence. Notices go to the addresses above by certified mail, courier or email to: Notice Emails. Some states require added disclosures, or a right to cancel, and a lawyer or licensed agent in the state should review this form before anyone signs it. Each Buyer and Seller named above must sign, and a spouse may need to sign for a marital or homestead property.

| Seller | Buyer |

| --- | --- |

| Signature: Seller Signature | Signature: Buyer Signature |

| Name: Seller Printed Name | Name: Buyer Printed Name |

| Date: Seller Signing Date | Date: Buyer Signing Date |