Can a Condo Purchase Agreement be signed electronically?

Yes. Under the ESIGN Act (15 U.S.C. ch. 96) and UETA in most states, electronic signatures are valid if parties show intent and consent and the record can be retained and reproduced.

Are HOA documents required with the contract?

Yes where lenders or state resale statutes require them; include bylaws, budget and pending assessment disclosures early to avoid underwriting or rescission issues.

Do signatures need notarization or witnesses?

Deeds typically require notarized acknowledgements for recording; witness requirements vary by state, and some conveyances need witnesses in addition to notary.

What happens if a contingency deadline is missed?

Missing a stated contingency deadline can waive the contingency or permit the other party to declare default; adhere to cure periods and document extensions in writing.

How should executed agreements be distributed?

Send final signed copies and the audit trail to escrow, title, lender and both parties; keep an executed original or certified copy for legal and tax records.

How can a party cancel or revoke the agreement?

Cancellation depends on contract terms and contingencies; parties may terminate during valid contingency periods or by mutual written agreement, and penalties may apply for wrongful withdrawal.

Electronic Signature
Templates
Real estate
Condo Purchase Agreement

Condo Purchase Agreement

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CONDOMINIUM PURCHASE AGREEMENT

This Condominium Purchase Agreement (the Agreement) is entered into by and between Seller Name: and Buyer Name: . The parties agree as follows with respect to the condominium described below.

1. Property

Property Address Parcel / APN Number Legal Description

2. Parties and Contact Information

Seller Contact Information Buyer Contact Information

3. Purchase Price; Earnest Money; Financing

Purchase Price: $ . Buyer shall deliver earnest money in the amount of $ payable to within days after mutual execution.

Financing contingency: Buyer requests loan in the amount of $. This Agreement is contingent upon Buyer obtaining written loan approval within . If Buyer fails to deliver lender commitment by the deadline, Seller may elect to terminate or extend in writing.

4. Inspections, Disclosures, and Condition

Inspection Period: Buyer shall have days from mutual execution to conduct any inspections and to deliver written notice of objection. Seller shall make the unit available and provide reasonable access.

Seller Disclosures (select Yes or No for each)

Lead-Based Paint: Yes No

Mold or Water Intrusion Known: Yes No

Prior Structural or Foundation Damage: Yes No

Seller represents that, except as disclosed above or in writing attached to this Agreement, the interior of the unit and the systems therein are in materially the same condition as of the date of this Agreement subject to ordinary wear and tear.

5. Homeowners Association (HOA)

HOA/Condo Association Name HOA Contact / Manager Monthly Assessments / Dues

Seller shall provide Buyer with copies of the Association's governing documents, financial statements and pending litigation disclosures within days of mutual execution. Buyer acknowledges receipt or waiver of review per applicable law.

6. Closing; Possession; Prorations

Closing shall occur on or before (Closing Date) at the title or escrow company mutually selected by the parties. Possession shall be delivered to Buyer on unless otherwise agreed in writing.

Real property taxes, HOA assessments, interest and other customary items shall be prorated as of the Closing Date. Buyer shall pay closing costs allocated to Buyer and Seller shall pay closing costs allocated to Seller as set forth in this Agreement.

7. Title; Conveyance; Closing Deliveries

Seller shall convey marketable fee simple title as a unit in the condominium project by general warranty deed (or appropriate deed) free of all liens and encumbrances, except for recorded easements and restrictions and the covenants, conditions and restrictions of the condominium. Title shall be evidenced by a current title insurance commitment issued to Buyer. Seller shall deliver any keys, gate remotes and HOA documents at closing.

8. Default and Remedies

If Buyer fails to timely perform, Seller may retain the earnest money as liquidated damages and pursue any other remedies provided by law, unless otherwise agreed. If Seller fails to convey in accordance with this Agreement, Buyer may seek specific performance or terminate and recover the earnest money and any actual damages permitted by law. The parties agree that the remedies are cumulative and subject to limitation by applicable law.

9. Representations, Warranties and Acknowledgements

Each party represents and warrants to the other that such party has full power and authority to enter into this Agreement and to perform its obligations. Buyer acknowledges the right to inspect and investigate the property and HOA documents. Except as expressly stated in this Agreement, neither party makes any other representation or warranty, express or implied, including any warranty of habitability or fitness for a particular purpose.

10. Notices

Notices under this Agreement shall be given in writing to the addresses below and shall be effective upon delivery by hand, overnight courier, or confirmed electronic transmission if followed by hard copy to the address below.

Seller Notice Address Buyer Notice Address

11. Attorneys' Fees; Governing Law; Integration

The prevailing party in any action to enforce this Agreement shall be entitled to recover reasonable attorneys' fees and costs. This Agreement shall be governed by the laws of the state where the condominium is located. This Agreement, together with any attached addenda and exhibits, constitutes the entire agreement between the parties and supersedes all prior negotiations and agreements. Amendments must be in writing signed by both parties.

Additional Terms or Contingencies

12. Acknowledgment

By signing below, Seller and Buyer acknowledge that they have read this Agreement, understand its terms, and have the authority to bind their respective parties. Each party acknowledges receipt of a copy of this Agreement after signing.

Seller Printed Name:

By:

Date:

Buyer Printed Name:

By:

Date:

What a Condo Purchase Agreement Covers

A Condo Purchase Agreement is a legally binding contract setting the terms for the sale and transfer of a condominium unit. It records buyer and seller identities, the purchase price, deposit and financing arrangements, contingencies (inspection, appraisal, financing), condominium association disclosures, closing date and allocation of closing costs. The agreement may include exhibits such as the association bylaws, budget, meeting minutes and rules. Properly completed, signed and delivered, it creates enforceable obligations and sets the timeline for title transfer, escrow handling and recording of the deed with local authorities.

Why a Clear Agreement Matters

A precise Condo Purchase Agreement reduces closing delays, limits disputes over condition or title, protects deposit funds through escrow, and establishes clear contingency deadlines. It also documents buyer and seller obligations for association disclosures, financing deadlines, and prorations to prevent last-minute misunderstandings.

Who Typically Prepares and Uses This Agreement

Parties and professionals who routinely complete or rely on the Condo Purchase Agreement.

Buyers and buyer agents who must confirm financing, inspection and contingency deadlines and secure earnest money.
Sellers and listing agents who provide association disclosures, set the purchase price, and negotiate contingencies and closing costs.
Lenders, title companies, and closing attorneys who review contract terms, confirm title status, and coordinate recording and disbursements.

Use by these stakeholders ensures coordination across escrow, title, HOA and mortgage workflows to achieve a timely closing.

Primary Signers and Their Roles

Buyer — Individual

A buyer signs to accept the offer and create obligations; the buyer is responsible for financing contingencies, inspections and deposit funding and must ensure the legal name matches identification and loan documents.

Seller — Owner

A seller signs to transfer property interest subject to contract terms; the seller must disclose association rules, pending assessments, and defects and coordinate with title and closing agents for deed execution and delivery.

Core Elements to Include in a Professional Agreement

A comprehensive Condo Purchase Agreement organizes obligations, deadlines and exhibits so all parties and third parties can fulfill their roles during escrow and closing.

Purchase Price

Specify the exact dollar amount, currency, and payment structure, including allocation of earnest money and timing for deposit transfers to escrow.

Financing Terms

Describe mortgage contingency, required loan type, interest rate tolerance, appraisal requirements, and deadlines for loan approval and documentation.

Contingencies

List inspection, appraisal, financing and home sale contingencies with explicit cure periods and procedures for termination or renegotiation.

Closing & Possession

State the closing date, possession date, prorations for taxes and assessments, and how closing costs will be divided between buyer and seller.

HOA / Association Disclosures

Attach bylaws, budget, meeting minutes, pending special assessments and rules that materially affect use, value, or financing eligibility.

Title & Deed

Specify title condition required, who orders title search and insurance, and the form of deed to be delivered at recording.

Essential Fields to Complete Accurately

Buyer Name: Full legal name

Seller Name: Full legal name

Property Address: Street, unit, city

Legal Description: Recorder's legal text

Purchase Price: Numeric amount

Closing Date: MM/DD/YYYY

Key Risks and Consequences of Errors

Missed Contingency: Loss of deposit

Incorrect Description: Title defects

Unsigned Pages: Unenforceable terms

Late Closing: Breach damages

Financing Failure: Contract termination

Incomplete HOA Disclosures: Loan denial or rescission

Common Mistakes to Watch For

Using nicknames or abbreviated names that conflict with title or mortgage documents, which can delay closing and require corrective affidavits.
Failing to attach HOA documents or omitting pending special assessments that the lender or buyer would consider material to financing.
Not specifying who pays specific closing costs or prorations, which often leads to disputes at settlement and last-minute renegotiation.
Missing contingency deadline language or cure periods, resulting in inadvertent waiver of rights or loss of deposit protections.

Step-by-Step: Completing the Agreement

Follow a consistent sequence to reduce errors: prepare, populate, attach required exhibits, review, sign and submit to escrow or title.

01

Prepare Document: Use a current printable or fillable template with space for exhibits.
02

Enter Parties: Fill buyer and seller legal names and contact information.
03

Attach HOA Docs: Include bylaws, budget, minutes and pending assessments.
04

Execute & Deliver: Obtain signatures, escrow deposit and transmit to title company.

How Execution and Routing Typically Work

A simple execution workflow clarifies who signs first, how exhibits attach, and how completed documents move to escrow and title for closing.

Upload Document: Sender uploads the agreement and supporting exhibits to a secure platform.
Place Fields: Insert signature, initials, date, and input fields for required data.
Send to Signers: Route in role order or send a signing link to each party.
Deliver Executed Copy: Provide final signed PDF and audit trail to escrow, title, and lenders.

Documents and Outputs to Keep After Signing

After execution, assemble a complete closing package and distribute copies to all relevant parties and record the deed as required.

Signed PDF

A time-stamped final PDF with an audit trail or cryptographic signature that evidences signer identity and signing events for recordkeeping.

Closing Package

Includes the executed agreement, escrow instructions, payoff statements, title documents and final prorations needed for settlement and funding.

HOA Documents

Retain association bylaws, budgets, meeting minutes and any resale certificates required by state law or lender underwriting.

Title Insurance Policy

Final title insurance commitment and issued policy showing insured exceptions and coverage limits for buyer protection.

Accuracy and Efficiency Tips for Parties

Adopt practical steps that reduce friction during escrow and avoid last-minute corrections that can delay or cancel closings.

Verify Legal Names and IDs

Confirm the buyer and seller legal names match government IDs, title and lender documents; mismatches often require affidavits, re-signings, or title corrections that add cost and delay.

Attach Complete HOA Records

Provide the association budget, bylaws, recent meeting minutes and any pending assessments at the outset, since lenders commonly require these items and missing documents can halt loan approval.

Set Clear Deadlines

Define inspection, financing and closing deadlines with explicit time zones and cure periods; vague timing invites disputes and reduces enforceability of contingency rights.

Use Centralized Delivery

Send executed documents to escrow, title and lender in a single package with a clear cover letter to prevent duplicated requests and to ensure all parties reference the same agreement version.

Typical Deadlines and Timing Considerations

Condo transactions rely on a set of interdependent deadlines; document them in the agreement to preserve rights and avoid forfeiture.

Earnest Money Due:

Usually within 3–5 business days after acceptance; deposited to escrow agent.

Inspection Contingency Deadline:

Commonly 7–10 days to complete inspections and request repairs.

Financing Contingency Deadline:

Often 21–30 days for loan approval and appraisal completion.

Title Objection Deadline:

Buyers typically have 5–10 days to object after receiving title report.

Closing Date:

Specified calendar date when funds wire and deed recording occur.

How to Amend or Revise the Agreement

Use a clear amendment workflow to change terms without creating conflicting versions or invalidating the original agreement.

01

Draft Amendment:

Create a short written amendment referencing the original agreement.

02

Specify Changes:

List only the clauses being changed and new effective dates.

03

Obtain Signatures:

All original parties must sign the amendment to bind the change.

04

Attach to Original:

Staple or append the amendment to the original agreement for records.

05

Distribute Copies:

Send executed amendment to escrow, title and lender.

06

Record if Required:

Record amended deed if it affects legal title or interests.

eSignature Vendor Comparison for Signing a Condo Purchase Agreement

Select an eSignature vendor based on price, bulk-send needs, audit trail, HIPAA requirements and any envelope or session limits that affect volume workflows.

	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	Varies	Varies	Varies
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 Condo Purchase Agreements

Answers to common questions about signing, attachments, notarization, cancellations and distribution of the executed agreement.

Need help? Contact support

Can a Condo Purchase Agreement be signed electronically?
Yes. Under the ESIGN Act (15 U.S.C. ch. 96) and UETA in most states, electronic signatures are valid if parties show intent and consent and the record can be retained and reproduced.
Are HOA documents required with the contract?
Yes where lenders or state resale statutes require them; include bylaws, budget and pending assessment disclosures early to avoid underwriting or rescission issues.
Do signatures need notarization or witnesses?
Deeds typically require notarized acknowledgements for recording; witness requirements vary by state, and some conveyances need witnesses in addition to notary.
What happens if a contingency deadline is missed?
Missing a stated contingency deadline can waive the contingency or permit the other party to declare default; adhere to cure periods and document extensions in writing.
How should executed agreements be distributed?
Send final signed copies and the audit trail to escrow, title, lender and both parties; keep an executed original or certified copy for legal and tax records.
How can a party cancel or revoke the agreement?
Cancellation depends on contract terms and contingencies; parties may terminate during valid contingency periods or by mutual written agreement, and penalties may apply for wrongful withdrawal.

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