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Buyer Seller Agreement

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CONTRACT FOR THE SALE AND PURCHASE OF REAL ESTATE (NO BROKER)

For good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged,

, “Seller” whether one or more, and , “Buyer” whether one or more,

do hereby covenant, contract and agree as follows:

1. AGREEMENT TO SALE AND PURCHASE: Seller agrees to sell, and Buyer agrees to buy from Seller the property described as follows: (complete adequately to identify property)

County, Oklahoma.

Address:

Legal Description (or see attached exhibit):

As described in attached Exhibit.

Together with the following items, if any: (Strike items to be retained by Seller) curtains and rods, draperies and rods, valances, blinds, window shades, screens, shutters, awnings, wall-to-wall carpeting, mirrors fixed in place, ceiling fans, attic fans, mail boxes, television antennas and satellite dish system with controls and equipment, permanently installed heating and air-conditioning units, window air-conditioning units, built-in security and fire detection equipment, plumbing and lighting fixtures including chandeliers, water softener, stove, built-in kitchen equipment, garage door openers with controls, built-in cleaning equipment, all swimming pool equipment and maintenance accessories, shrubbery, landscaping, permanently installed outdoor cooking equipment, built-in fireplace screens, artificial fireplace logs and all other property owned by Seller and attached to the above described real property except the following property which is not included (list items not included):

All property sold by this contract is called the "Property."

2. SALES PRICE: The parties agree to the following sales price:

Description Amount Amount
Purchase Price
Earnest Money
New Loan
Assumption of Loan
Seller Financing
Cash at Closing
Total (both columns should be equal)

Both columns should be an equal amount.

If the unpaid principal balance(s) of any assumed loan(s), if any, as of the Closing Date varies from the loan balance(s) stated above, the cash payable at closing will be adjusted by the amount of any variance.

3. FINANCING: The following provisions apply with respect to financing:

CASH SALE: This contract is not contingent on financing.

OWNER FINANCING: Seller agrees to finance dollars of the purchase price pursuant to a promissory note from Buyer to Seller of $ , bearing % interest per annum, payable over a term of years with even monthly payments, secured by a deed of trust or mortgage lien with the first payment to begin on the day of .

NEW LOAN OR ASSUMPTION: This contract is contingent on Buyer obtaining financing. Within days after the effective date of this contract Buyer shall apply for all financing or noteholder's approval of any assumption and make every reasonable effort to obtain financing or assumption approval.

If financing or assumption approval is not obtained within days after the effective date hereof, this contract will terminate and the earnest money will be refunded to Buyer.

If Buyer intends to obtain a new loan, the loan will be of the following type:

Conventional VA FHA Other:

Existing Loan Review. If an existing loan is not to be released at closing, Seller shall provide copies of the loan documents to Buyer within calendar days from acceptance of this contract.

If lender's approval is not obtained on or before , this contract shall be terminated on such date.

Credit Information. Buyer shall supply to Seller on or before , at Buyer's expense, information and documents concerning Buyer's financial, employment and credit condition.

4. EARNEST MONEY: Buyer shall deposit $ as earnest money with upon execution of this contract by both parties.

5. PROPERTY CONDITION:

RESIDENTIAL PROPERTY CONDITION DISCLOSURE ACT: Seller has complied by furnishing to Buyer a:

Residential Property Condition Disclosure Statement Form regarding the subject Property; or

Residential Property Condition Disclaimer Statement Form regarding the subject Property.

Seller is exempt from the requirement to furnish said Disclosure or Disclaimer Forms, because:

SELLER’S DISCLOSURE OF LEAD-BASED PAINT AND LEAD-BASED PAINT HAZARDS is required by Federal law for a residential dwelling constructed prior to 1978.

An addendum providing such disclosure is attached is not applicable.

Buyer hereby represents that he has personally inspected and examined the above-mentioned premises and all improvements thereon. Buyer and Seller agree to the following concerning the condition of the property:

Buyer accepts the property in its "as-is" and present condition.

Buyer may have the property inspected by persons of Buyer's choosing and at Buyer's expense. If the inspection report reveals defects in the property, Buyer shall notify Seller within days of receipt of the report.

Buyer accepts the Property in its present condition; provided Seller, at Seller’s expense, shall complete the following repairs and treatment:

Buyer agrees that he will not hold Seller or its representatives responsible or liable for any present or future structural problems or damage to the foundation or slab of said property.

If the subject residential dwelling was constructed prior to 1978, Buyer may conduct a risk assessment or inspection for the presence of lead-based paint and/or lead-based paint hazards, to be completed within days after execution of this agreement.

MECHANICAL EQUIPMENT AND BUILT IN APPLIANCES: All such equipment is sold "as-is" without warranty, or shall be in good working order on the date of closing.

Any repairs needed to mechanical equipment or appliances, if any, shall be the responsibility of Seller Buyer.

UTILITIES: Water is provided to the property by , Sewer is provided by . Gas is provided by .

Electricity is provided by .

Other:

The present condition of all utilities is accepted by Buyer.

6. CLOSING: The closing of the sale will be on or before , unless extended pursuant to the terms hereof.

7. TITLE AND CONVEYANCE: Seller is to convey title to Buyer by (as appropriate) and provide Buyer with a Certificate of Title prepared by an attorney, title or abstract company.

A title report shall be provided to Buyer at least days prior to closing.

8. APPRAISAL, SURVEY AND TERMITE INSPECTION: Any appraisal of the property shall be the responsibility of Buyer Seller.

A survey is: not required required, the cost of which shall be paid by Seller Buyer.

A termite inspection is not required required, the cost of which shall be paid by Seller Buyer.

9. POSSESSION AND TITLE: Seller shall deliver possession of the Property to Buyer at closing.

Title shall be conveyed to Buyer, if more than one as Joint tenants with rights of survivorship, tenants in common, Other: .

10. CLOSING COSTS AND EXPENSES: The following closing costs shall be paid as provided.

Closing Costs Buyer Seller Both*
Attorney Fees
Title Insurance
Title Abstract or Certificate
Property Insurance
Recording Fees
Appraisal
Survey
Termite Inspection
Origination fees
Discount Points
If contingent on rezoning, cost and expenses of rezoning
Other:
All other closing costs

11. PRORATIONS: Taxes, interest, maintenance fees, assessments, dues and rents will be prorated through the Closing Date.

12. CASUALTY LOSS: If any part of the Property is damaged or destroyed after the effective date, Seller shall restore the Property as soon as reasonably possible.

13. DEFAULT: If Buyer fails to comply, Buyer will be in default; if Seller fails, Seller will be in default as described in this contract.

14. ATTORNEY'S FEES: The prevailing party is entitled to recover costs and reasonable attorney’s fees.

15. REPRESENTATIONS: Seller represents there will be no unsatisfied liens, assessments, or security interests except as stated.

16. FEDERAL TAX REQUIREMENT: If Seller is a "foreign person", Buyer shall withhold as required by law.

17. AGREEMENT OF PARTIES: This contract contains the entire agreement of the parties.

18. NOTICES: All notices must be in writing and are effective when mailed, delivered, or faxed as follows:

To Buyer at:

Telephone ( )

Facsimile ( )

To Seller at:

Telephone ( )

Facsimile ( )

19. ASSIGNMENT: This agreement may not be assigned by Buyer without the consent of Seller.

20. PRIOR AGREEMENTS: This contract incorporates all prior agreements and cannot be changed except by written consent.

21. NO BROKER OR AGENTS: Neither party has employed the services of a broker or agent, unless stated otherwise.

22. EMINENT DOMAIN: If the property is condemned after the effective date, the parties shall decide whether to continue or cancel.

23. OTHER PROVISIONS

24. TIME IS OF THE ESSENCE IN THE PERFORMANCE OF THIS AGREEMENT.

25. GOVERNING LAW: This contract shall be governed by the laws of the State of Oklahoma.

26. DEADLINE LIST (Optional) (complete all that apply). Based on other provisions of Contract.

Deadline Date
Loan Application Deadline, if contingent on loan
Loan Commitment Deadline
Buyer(s) Credit Information to Seller
Disapproval of Buyers Credit Deadline
Survey Deadline
Title Objection Deadline
Survey Deadline
Appraisal Deadline
Property Inspection Deadline

Whether or not listed above, deadlines contained in this Contract may be extended informally by a writing signed by the person granting the extension except for the closing date which must be extended by a writing signed by both Seller and Buyer.

EXECUTED the day of , 20 (THE EFFECTIVE DATE).

Buyer

Buyer

Seller

Seller

EXHIBIT FOR DESCRIPTION OR ATTACH SEPARATE DESCRIPTION

RECEIPT

Receipt of Earnest Money is acknowledged.

Signature:

By:

Address

City State Zip Code

Date:

Telephone ( )

Facsimile ( )

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What a Buyer Seller Agreement Is and when it applies

A Buyer Seller Agreement is a written contract that records the terms under which a seller transfers specified goods, property, or business assets to a buyer in exchange for agreed consideration. It identifies parties, describes the subject matter precisely, sets price and payment terms, allocates closing responsibilities, and defines remedies for breach. In the United States these agreements commonly appear in real estate closings, asset purchases, and high-value goods transfers; they may require notarization, title clearance, or escrow depending on the asset and applicable state law.

Why a clear Buyer Seller Agreement matters

A well-drafted Buyer Seller Agreement reduces ambiguity, limits dispute risk, and documents mutual obligations and timing. It creates enforceable rights when properly signed and retained under U.S. e-signature law, and helps satisfy lender, escrow, and recording requirements.

Why a clear Buyer Seller Agreement matters

Who typically prepares and signs this agreement

The agreement is used by buyers, sellers, brokers, title companies, and attorneys to record transaction terms and assign closing responsibilities.

  • Real estate agents and brokers coordinating offers and contingencies between buyers and sellers.
  • Private buyers and sellers documenting price, payment schedule, and deposit terms for asset transfers.
  • Title officers, escrow agents, and attorneys managing title clearance, recording, and closing logistics.

Parties and intermediaries rely on the agreement to coordinate inspections, financing, escrow, and final transfer steps.

Core elements to include in a professional Buyer Seller Agreement

A complete agreement organizes obligations into clear sections so parties, agents, and third parties can verify rights, deadlines, and remedies without ambiguity.

Parties

Full legal names and entity types for buyer and seller, including contact and organizational details to establish authority to contract.

Subject

Precise description of the property or assets being transferred, including parcel numbers, VINs, or inventory lists as applicable to avoid later dispute.

Purchase Price

Total consideration, allocation between cash and financed amounts, escrow deposit details, and any formula for adjustments at closing.

Closing Terms

Closing date, location, escrow instructions, required deliverables (title, payoff, bills of sale), and conditions precedent to closing.

Representations

Seller and buyer warranties about authority, title, liens, taxes, and compliance; disclosure of known defects or encumbrances.

Signatures

Signature blocks for authorized signers, dates, and any notarization or witness language required by state or third-party stakeholders.

Required data fields at a glance

Buyer Name: Legal name
Seller Name: Legal name
Property Address: Full address
Purchase Price: Numeric amount
Earnest Deposit: Amount and timing
Closing Date: MM/DD/YYYY

Step-by-step: completing a Buyer Seller Agreement

Follow a consistent sequence to reduce errors and ensure all stakeholders can verify progress.

  • 01
    Draft: Prepare initial terms and include required exhibits and legal descriptions.
  • 02
    Review: Buyer, seller, and counsel confirm representations, contingencies, and schedule.
  • 03
    Sign: Execute signatures and any required notarizations or witness attestations.
  • 04
    Close: Deliver funds, record documents, and transfer title as specified.

Typical digital workflow settings for online completion

Configure a simple, auditable workflow to assign roles, require fields, and capture timestamps for each signer.

Field Configuration
Signer Order Set sequential or parallel signing as needed
Required Fields Mark names, signatures, and effective date required
Authentication Email link, SMS code, or KBA per risk level
Copy Distribution Auto-send final PDF and audit trail to parties

Where the agreement goes after it's prepared

Routing and storage steps determine who receives copies and how the executed agreement is preserved.

  • Upload: Sender uploads the contract PDF or DOCX to the signing platform
  • Assign Roles: Set buyer, seller, witness, and notary fields
  • Send to Signers: Platform emails signers or provides a secure signing link
  • Store: Executed copy and audit trail saved to records and escrow

Technical considerations for eSigning and storage

Confirm the vendor supports the authentication and retention levels required by lenders, title companies, and applicable state law before submitting documents for signing.

  • File Formats: PDF, DOCX supported
  • Integrations: Connects to CRMs and cloud storage
  • Security: TLS in transit; AES-256 at rest

Typical timelines and deadlines to track

Track critical dates from offer through recording to avoid missed contingencies or penalties.

Offer Expiration:

Deadline for buyer acceptance as specified in offer

Inspection Period:

Number of days for inspections and objections

Financing Contingency:

Date to satisfy or waive financing conditions

Earnest Deposit Due:

Date funds must be delivered to escrow

Closing Date:

Date for transfer of funds and title

Key transaction milestones in sequence

A numbered milestone view helps coordinate parties, escrow, and third-party providers toward closing.

01

Offer Accepted

Agreement signed, earnest deposit delivered, and contingencies triggered

02

Due Diligence

Inspections, title review, and lien searches completed

03

Financing Cleared

Lender issues final approval and funding instructions

04

Closing and Recording

Funds transferred, documents recorded, and keys or assets delivered

Common mistakes to avoid when preparing the agreement

  • Using colloquial descriptions instead of a formal legal description, which can create ambiguity and delay recording.
  • Failing to specify who pays closing costs or prorations, leading to post-closing disputes and unexpected expenses.
  • Not confirming signatory authority for corporate entities, which may invalidate signatures or require ratification by board resolution.
  • Skipping required witness or notarization steps for deeds or powers of attorney, resulting in rejection by the recorder or title insurer.

Consequences of errors or omissions

Title Defects: Clouds title
Missing Signatures: Unenforceable contract
Incorrect Description: Transfer invalid
Late Closing: Breach damages
Escrow Failures: Deposit loss risk
Misrepresentation: Rescission or liability

How eSignature providers compare for executing Buyer Seller Agreements

Compare core price and capability dimensions for routine document signing; signNow is listed first as the baseline in this table.

signNow DocuSign Adobe Sign PandaDoc HelloSign
Starting Price $8/user/mo $15/user/mo $14/user/mo $19/user/mo $15/user/mo
Free Trial 7-day free trial Varies by plan Varies by plan Varies by plan Varies by plan
Bulk Send Yes Yes Yes Yes No
Audit Trail Yes Yes Yes Yes Yes
HIPAA Compliant Yes Yes Yes No No

Frequently asked questions about Buyer Seller Agreements

Answers to common legal, execution, and recordkeeping questions when preparing or eSigning a Buyer Seller Agreement.


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