Establishing secure connection…Loading editor…Preparing document…

Contract for the Sale and Purchase of Real Estate

This template is fully customizable. Edit the text, fill out the fields, and send it for signature. Give it a try!

CONTRACT FOR THE SALE AND PURCHASE OF REAL ESTATE
NO BROKER - VACANT RESIDENTIAL LAND

WARNING: THIS CONTRACT HAS SUBSTANTIAL LEGAL CONSEQUENCES AND THE PARTIES ARE ADVISED TO CONSULT LEGAL AND TAX COUNSEL.

FOR VALUABLE CONSIDERATION OF TEN DOLLARS and other 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:

Lot , Block , Addition

City of , County, State of .

Address: (Address/Zip Code), or as described on attached exhibit.

Together with all fixtures and attachments to said land except the following:

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

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

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

Both columns should be an equal amount.

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 , 20.

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.

Financing or assumption approval will be deemed to have been obtained when the lender determines that Buyer has satisfied all of lender's financial requirements. 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.

Existing Loan Review. If an existing loan is not to be released at closing, Seller shall provide copies of the loan documents within calendar days from acceptance of this contract. Buyer consents to the provisions of such loan documents if no written objection is received within calendar days from Buyer's receipt of such documents. If lender's approval of a transfer of the Property is required, this contract is conditional upon Buyer's obtaining such approval without change in the terms of such loan, except as may be agreed by Buyer. If lender's approval is not obtained on or before this contract shall be terminated on such date.

Credit Information. If Buyer is to pay all or part of the purchase price by executing a promissory note in favor of Seller or if an existing loan is not to be released at closing, this contract is conditional upon Seller's approval of Buyer's financial ability and creditworthiness. Buyer shall supply to Seller on or before , at Buyer's expense, information and documents concerning Buyer's financial, employment and credit condition. If Seller does not provide written notice of Seller's disapproval to Buyer on or before then Seller waives this condition.

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

5. PROPERTY CONDITION:

Buyer hereby represents that he has personally inspected and examined the above mentioned property and accepts the property in it's "as-is" and present condition.

6. 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 utility access to the property is accepted by Buyer.

Seller is not aware of the existence of wetlands, shoreland, or flood plain on or affecting the real property except as follows:

Seller knows of no hazardous substances or petroleum products having been placed, stored, or released from or on the real property by any person in violation of any law, nor of any underground storage tanks having been located on the real property at any time, except as follows:

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

Closing may be extended to within 7 days after objections to matters disclosed in the title abstract, certificate or commitment or by the survey have been cured. The closing date may also be extended by written agreement of the parties.

8. TITLE AND CONVEYANCE: Seller is to convey title to Buyer by Warranty Deed or and provide Buyer with a Certificate of Title prepared by an attorney, title or abstract company upon whose Certificate or report title insurance may be obtained from a title insurance company qualified to do and doing business in the state of .

Seller shall satisfy all outstanding mortgages, deeds of trust and special liens affecting the subject property which are not specifically assumed by Buyer herein. Title shall be good and marketable, subject only to covenants, conditions and restrictions of record, easements, roads, rights-of-way, zoning ordinances, protective covenants and prior mineral reservations, special and other assessments, general taxes for the year and subsequent years and other: .

9. 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. If a survey is required it shall be obtained within 5 days of closing.

10. 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, . Prior to closing the property shall remain in the possession of Seller.

11. 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
Recording Fees
Appraisal
Survey
If contingent on rezoning, cost and expenses of rezoning
Other:

* 50/50 between buyer and seller.

12. PRORATIONS: Taxes for the current year, interest, maintenance fees, assessments, dues and rents, if any, will be prorated through the Closing Date.

13. DEFAULT: If Buyer fails to comply with this contract, Buyer will be in default...

14. ATTORNEY'S FEES: The prevailing party in any legal proceeding brought under or with respect to the transaction described in this contract is entitled to recover from the non-prevailing party all costs of such proceeding and reasonable attorney’s fees.

15. REPRESENTATIONS: Seller represents that as of the Closing Date there will be no liens, assessments, or security interests against the Property which will not be satisfied out of the sales proceeds unless securing payment of any loans assumed by Buyer and assumed loans will not be in default.

16. FEDERAL TAX REQUIREMENT: If Seller is a "foreign person", Buyer shall withhold from the sales proceeds an amount sufficient to comply with applicable tax law.

17. AGREEMENT OF PARTIES: This contract contains the entire agreement of the parties and cannot be changed except by their written agreement.

18. NOTICES: All notices from one party to the other must be in writing and are effective when mailed to, hand-delivered at, or transmitted by facsimile machine 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 between the parties and cannot be changed except by their written consent.

Neither party shall be bound by any terms, conditions, oral statements, warranties, or representations not herein contained. Each party acknowledges that he has read and understands this contract.

21. NO BROKER OR AGENTS: The parties represent that neither party has employed the services of a real estate broker or agent in connection with the property, or that if such agents have been employed, that the party employing said agent shall pay any and all expenses outside the closing of this agreement.

22. EMINENT DOMAIN: If the property is condemned by eminent domain after the effective date hereof, the Seller and Buyer shall agree to continue the closing, or a portion thereof, or cancel this Contract.

23. RECORDING: This agreement may may not be recorded in the official records of , .

24. OTHER PROVISIONS

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

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

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

Buyer

Seller

Buyer

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 ( )

Enter text✕
Prepare your document for signing right on this page
  • 01 Edit the text and complete the fields
  • 02 Click Sign Now and on the next screen add recipients and signature fields in SignNow
  • 03 Start your free trial to sign and send your doc
Sign Now

What the Contract for the Sale and Purchase of Real Estate Is

A Contract for the Sale and Purchase of Real Estate is a written agreement that sets the terms under which a seller transfers property to a buyer. It defines the parties, the property description, purchase price, payment terms, contingencies such as inspections and financing, closing date, prorations, and closing conditions. The contract creates binding obligations once executed by authorized signatories and, when applicable, may include provisions for earnest money, title warranties, and remedies for breach. State law governs formalities such as notarization, witness requirements, and recording procedures.

Why a Clear Sale and Purchase Contract Matters

A precise contract reduces ambiguity about price, condition, closing steps, and risk allocation, protecting both buyer and seller and making closing predictable and enforceable under ESIGN or UETA where applicable.

Why a Clear Sale and Purchase Contract Matters

Who Typically Prepares and Signs This Contract

Parties should ensure authorized signatories sign, required notarizations or witness signatures are collected, and copies are retained for the transaction and post-closing records.

  • Individual buyers and sellers: Homeowners and prospective purchasers who negotiate terms and provide signatures to transfer ownership.
  • Real estate agents and brokers: Prepare standard-form contracts, manage contingencies, and coordinate inspections and financing.
  • Title and escrow officers: Verify title, arrange prorations, and prepare closing statements.

Common Signers and Their Roles

Buyer — Individual

A buyer signs to accept transfer terms, must provide financing or proof of funds, deliver earnest money, and satisfy contingencies. Incorrect name or missing authorization can delay closing and title transfer.

Seller — Property Owner

The seller warrants authority to convey title, discloses known property defects as required by state law, and coordinates deeds and closing documents with the title company to effect recording and release of liens.

Core Components to Include in a Professional Contract for the Sale and Purchase of Real Estate

A complete purchase contract combines commercial terms with legally required items. Include clear definitions, contingencies, performance deadlines, closing mechanics, remedies, and signature blocks so each party understands obligations and outcomes.

Parties

Full legal names and entity types for buyer and seller; include authorized signer details.

Property Description

Street address, legal description, parcel number, and included fixtures or exclusions.

Price & Payments

Purchase price, deposit/earnest money amount, escrow instructions, and financing conditions.

Contingencies

Inspection, appraisal, financing, title review, and any condition precedent to closing.

Closing & Possession

Closing date, prorations for taxes and utilities, transfer of possession, and deed type.

Representations & Remedies

Seller warranties, buyer inspections, default remedies, dispute resolution, and governing law.

Step-by-Step: Completing and Executing the Contract

Follow these steps to prepare, sign, and move the transaction to closing while minimizing common delays.

  • 01
    Prepare Draft: Populate parties, property, and price fields accurately.
  • 02
    Add Contingencies: Specify inspection, financing, and title review periods.
  • 03
    Collect Signatures: Have all authorized signers sign and date; notarize if required.
  • 04
    Deliver to Title: Submit executed contract, deposit, and supporting documents to escrow or title company.

How to Set Up a Digital Signing Workflow

Configure e-signature fields and routing so each party signs in the proper order and supporting documents are attached.

Field Configuration
Signature Field Place for each signer; require date and printed name fields.
Initials Field Optional but useful for page-by-page acknowledgment of addenda.
Supporting Attachments Attach disclosures, inspection reports, pre-approval letters, and title commitments.
Routing Order Set order: seller -> buyer -> lender/title to ensure proper sign-off.

Digital Signing and Submission Considerations

Ensure the chosen platform is ESIGN and UETA compliant, supports required notarization workflows where applicable, and retains signed records for the required retention period.

  • Authentication: Email, SMS code, or stronger methods for signer attribution.
  • Audit Trail: Timestamp, IP address, and action log for each signer.
  • File Types: Accept PDF and Word DOCX, with signed PDFs conforming to common standards.

Where to Send the Executed Contract and Supporting Documents

After execution, route copies to the parties involved and to title/escrow and lender contacts to begin closing actions.

  • Buyer: Send final executed contract and proof of earnest money deposit.
  • Seller: Provide fully executed copy and property disclosures.
  • Title/Escrow: Deliver contract, title commitment, and payoff information.
  • Lender: Submit contract and buyer loan application documents for underwriting.

Common Deadlines and Timing Expectations

Key dates in a purchase contract include contingency windows, financing deadlines, and the closing date; track them precisely to avoid default.

Inspection Period:

Typical 7–14 days from effective date

Financing Contingency:

Often 21–30 days for loan approval

Appraisal Timeline:

Usually 7–14 days once ordered

Closing Date:

Set in contract; can be extended by written amendment

Title Cure Period:

Commonly 30 days to resolve title defects

Key Transaction Milestones in Sequence

A typical purchase moves through defined stages from offer to recorded deed; each stage includes tasks to protect parties and clear title.

01

Offer Accepted

Contract signed and effective; earnest money deposited.

02

Inspections Complete

Buyer completes inspections and negotiates repairs if needed.

03

Loan Approval

Lender issues final commitment subject to title and appraisal.

04

Closing and Recording

Funds transferred, deed recorded, and keys released.

Common Mistakes to Avoid When Preparing the Contract

  • Using informal names or nicknames instead of legal entity name
  • Omitting legal description or relying only on street address
  • Failing to specify prorations and which party pays closing costs
  • Missing contingency deadlines or failing to document extensions

Risks and Consequences of an Incorrect or Incomplete Contract

Breach Liability: Damages or specific performance
Title Defect: Delayed closing, cure costs
Funding Denial: Loan fall-through risk
Recording Rejection: Deed rejected at county recorder
Earnest Money Forfeiture: Loss of deposit under contract terms
Statutory Noncompliance: State law penalties or voidability

Real-World Examples and How the Contract Was Used

Practical examples show how parties rely on clear contract terms to close complex transactions efficiently.

Martin Properties

A regional broker used an online contract to close remote purchases for out-of-state buyers

  • Remote notarization enabled signature from different states
  • I can process and execute all of these documents online with 100% compliance and built-in security. Whether on mobile or working offline, I can get forms back to their necessary parties efficiently.

Optica Ventures

A small investor standardized templates to speed review and title submission

  • Template reduced negotiation time on boilerplate terms
  • The interface is simple and easy-to-use for our team; more importantly, it is just as easy for our customers.

Tips for Accurate and Efficient Completion

Use these practical tips to minimize errors and speed closing.

Verify Identities
Confirm signer identity and authority before executing; use matching government ID and business formation documents for entities.
Use Clear Deadlines
Specify precise timeframes for contingencies and remedies to avoid disputes over timing.
Attach Exhibits
Include inspection reports, title commitments, and disclosures as exhibits referenced in the contract.
Record Retention
Store executed contracts and audit trails securely and retain per regulatory and tax requirements.

eSignature Pricing Comparison for Executing Real Estate Contracts

Comparison of common eSignature vendors and core plan-level features relevant to real estate workflows; signNow is listed first per platform data.

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

FAQs: Common Questions About Executing a Real Estate Purchase Contract

Answers to frequent questions about validity, eSignatures, notarization, and correcting executed contracts.


Need help? Contact support

Explore Templates

Michigan Workforce Background Check Consent Form Application for Patient Assistance Connection Under 18 Consent Form Privacy Consent Form Massachusetts Department of Housing and Community Development Resident Notice and Consent Form Texas TDAP Consent Form
be ready to get more
Join over 28 million airSlate SignNow users
Sign Now
Company
Forms
Pricing
Resources
Knowledge base
Other Products
© 2026 airSlate Inc. All rights reserved.