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Contract for the Sale and Purchase of Real Estate

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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)

Lot , of the District, Section of County, Georgia.

Address:

Or being more specifically described by the numbering system in this area as: Lot , Block , Unit , Phase/Section , of Subdivision, as recorded in Plat Book , page , County, Georgia; or as described on attached exhibit.

Together with the following items, if any: (Strike items to be retained by Seller)

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

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

Item 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 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:

FHA. Appraised value of the Property of not less than $ .

VA. If Buyer is to pay the purchase price by obtaining a new VA-guaranteed loan...

Existing Loan Review. Seller shall provide copies of the loan documents within calendar days from acceptance of this contract. Buyer objection within calendar days from Buyer's receipt of such documents.

Credit Information. Seller approval deadline:

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

5. PROPERTY CONDITION:

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 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.

All inspections and notices to Seller shall be complete within days after execution of this agreement.

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

MECHANICAL EQUIPMENT AND BUILT IN APPLIANCES: sold "as-is" without warranty, or shall be in good working order on the date of closing. Any repairs needed ... responsibility of Seller Buyer.

UTILITIES: Water is provided 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 and provide Buyer with a Certificate of Title prepared by an attorney, title or abstract company.

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: Title shall be conveyed to Buyer as Joint tenants with rights of survivorship, tenants in common, Other:

10. CLOSING COSTS AND EXPENSES:

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

* 50/50 between buyer and seller.

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

12. CASUALTY LOSS: If any part of the Property is damaged or destroyed by fire or other casualty loss after the effective date of the contract, Seller shall restore the Property to its previous condition as soon as reasonably possible.

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...

16. FEDERAL TAX REQUIREMENT: If Seller is a "foreign person"...

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...

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...

21. NO BROKER OR AGENTS: The parties represent that neither party has employed the services of a real estate broker or agent...

22. EMINENT DOMAIN: If the property is condemned by eminent domain after the effective date hereof...

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

24. OTHER PROVISIONS

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

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

27. 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
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: , 20____

Telephone ( )

Facsimile ( )

THIS IS A SEPARATE INSTRUCTION PAGE REGARDING LEAD-BASED PAINT DISCLOSURE

THIS PAGE IS NOT PART OF THE CONTRACT. It is provided by USLF to aid the seller in complying with federal lead-based paint disclosure law, for houses built prior to 1978.

IMPORTANT!!! NOTES CONCERNING LEAD-PAINT DISCLOSURE REQUIREMENTS

This page is informational and not part of the contract.

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

The Contract for the Sale and Purchase of Real Estate is a written agreement that records the parties, property description, purchase price, payment terms, contingencies, closing date, and title-transfer mechanics. It allocates responsibilities for inspections, repairs, prorations, closing costs, and remedies for default. The contract often incorporates seller disclosures, financing and appraisal conditions, and any personal property included. Accurate execution, lawful delivery, and proper retention establish the document's enforceability and support marketability of the title at closing.

Why a Clear Sale and Purchase Contract Matters

A comprehensive contract reduces ambiguity about price, deadlines, and obligations, lowers closing disputes, and creates a clear record for lenders, title companies, and courts. It documents contingencies (inspection, financing, appraisal), remedies for breach, and allocation of closing costs, helping all parties manage risk and meet statutory or lender-driven requirements.

Why a Clear Sale and Purchase Contract Matters

Who Typically Uses This Contract

Typical users include buyers, sellers, real estate brokers, title agents, lenders, and attorneys involved in residential and commercial transactions.

  • Buyers seeking defined purchase terms, financing contingencies, inspection timelines, and earnest money protections to limit loss and clarify obligations.
  • Sellers establishing clear price, required disclosures, deed delivery conditions, and remedies to ensure predictable transfer and closing.
  • Title companies and lenders verifying deed language, title commitments, payoff instructions, and closing mechanics to enable funding and recording.

Parties rely on the contract to sequence closing steps, allocate costs, and define remedies if contingencies or conditions are not satisfied.

Common Signatory Profiles

Buyer

Individual or institutional purchaser responsible for inspections, financing contingencies, and earnest money. The buyer must provide accurate legal name, authorized signatory evidence, and timely responses to contingencies to avoid breach or forfeiture.

Seller

Owner or authorized representative conveying title, responsible for disclosures, clear-title assurances, and delivering deed at closing. Sellers must confirm authorized signers and resolve title exceptions to complete transfer as agreed.

Essential Information to Include

Property Address: Street, city, state, ZIP
Legal Description: Lot, block, or metes and bounds
Purchase Price: Full agreed amount
Earnest Money: Amount and deposit terms
Closing Date: MM/DD/YYYY format
Title Company: Name and contact details

Step-by-Step: Completing the Contract

Follow a consistent sequence: identify parties, describe property, set price and deposits, add contingencies, and sign with dates to create an enforceable agreement.

  • 01
    Prepare contract: Enter parties, legal description, and purchase price.
  • 02
    Add contingencies: Specify inspection, financing, and appraisal deadlines.
  • 03
    Assign deposits: State earnest money amount and escrow instructions.
  • 04
    Sign and date: Authorized signers must sign and date each execution block.

Where the Signed Contract Goes Next

Once executed, the contract is routed to escrow/title, lender, and closing agents for review, funding, and recording.

  • Escrow / Title: Receives contract to open escrow and order title work.
  • Lender Review: Examines terms and conditions for underwriting.
  • Inspection / Repairs: Schedules inspections and documents repair obligations.
  • Closing & Recording: Finalizes funding, executes deed, and records document.

Typical Online Workflow Settings

Configure the digital workflow to match signing order, authentication strength, and required fields before sending for signature.

Field Configuration
Signing Order Sequential or parallel signer order
Authentication Email link, SMS code, or KBA
Conditional Fields Show fields based on prior answers
Audit Trail Capture IP, timestamp, and actions

Digital Signing and File Format Requirements

Choose a platform that supports PDF and DOCX, audit trails, and the authentication level required by lenders or regulators.

  • Supported Formats: PDF, DOCX, and fillable forms
  • Integrations: Salesforce, NetSuite, Google Workspace, Box
  • Authentication Options: Email link, SMS, KBA, or SSO

Common Contract Deadlines to Track

Specify and calendar key dates in the contract to avoid missed contingencies and scheduling conflicts during the transaction.

Earnest Money Deadline:

Date by which deposit must be delivered to escrow

Inspection Period End:

Day by which buyer must accept or request repairs

Loan Objection Date:

When buyer must notify seller of financing denial

Title Commitment Deadline:

Cutoff to review title exceptions and raise objections

Scheduled Closing Date:

Agreed date for funding, deed execution, and recording

Key Transaction Milestones

A clear milestone sequence helps coordinate inspections, underwriting, title clearance, and the final closing event.

01

Offer Acceptance

Seller signs or counters and parties establish binding contract.

02

Due Diligence

Buyer completes inspections and reviews disclosures within set days.

03

Financing Approval

Buyer secures loan commitment and clears lender conditions.

04

Closing and Recording

Funds transfer, deed executed, and instrument recorded with county.

Frequent Preparation Errors to Avoid

  • Using inconsistent legal names, leaving signature blocks unsigned, or omitting corporate authority documentation can void execution and delay closing.
  • Failing to specify exact contingency deadlines or inspection scopes leaves parties exposed to disputes about cure periods and timely performance.
  • Neglecting to attach required disclosures or failing to reference exhibits (title commitment, surveys) can create title exceptions at closing.
  • Delivering conflicting versions to different parties without a controlled final document increases the risk of multiple competing claims.

Consequences of an Incorrect or Incomplete Contract

Closing Delay: Costs and funding postponement
Earnest Money Loss: Potential forfeiture for buyer default
Title Exceptions: Unresolved issues block recording
Legal Liability: Breach claims and damages
Financing Failure: Sale may be voided or renegotiated
Regulatory Fines: Disclosure failures can trigger penalties

eSignature Pricing and Feature Comparison for Real Estate Contracts

Comparing common vendor pricing and capabilities helps legal, title, and brokerage teams select a platform that meets authentication, HIPAA, and volume requirements.

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 Yes, 7-day free trial Yes, 30-day trial No Yes, limited Yes, limited
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 This Contract

Answers to common questions about execution, e-signing, notarization, and post-closing duties for sale and purchase agreements.


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