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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:

County, Maryland.

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:

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

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

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.

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.

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:

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

5. PROPERTY CONDITION:

PROPERTY DISCLOSURE/DISCLAIMER: Check one of the following:

Seller has furnished, and Buyer has received and reviewed, a RESIDENTIAL PROPERTY DISCLAIMER STATEMENT.

Seller has furnished, and Buyer has received and reviewed, a RESIDENTIAL PROPERTY DISCLOSURE STATEMENT.

Seller is exempt from furnishing a DISCLAIMER or a DISCLOSURE due to:

If this box is checked, Buyer’s purchase of the Property is contingent upon a satisfactory wetlands inspection.

If box is not checked, Buyer voluntarily and knowingly waives a wetlands inspection.

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. DEED AND TITLE: Upon payment of the purchase price, a deed for the Property containing covenants of special warranty and further assurances shall be executed by Seller and shall convey the Property to Buyer.

If Seller is unable to give good and merchantable title or such as can be insured by a Maryland licensed title insurer, Seller may cure defects or Buyer may accept title without said defect being cured.

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:

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 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 or Buyer may elect to terminate or proceed.

13. DEFAULT: Buyer and Seller are required and agree to make full settlement in accordance with the terms of this Contract.

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 costs 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 otherwise stated.

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

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.

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 cancel this Contract.

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 Maryland.

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
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

Seller

RECEIPT

Receipt of Earnest Money is acknowledged.

Signature:

By:

Address

City State Zip Code

Date:

Telephone ( )

Facsimile ( )

EXHIBIT FOR DESCRIPTION OR ATTACH SEPARATE DESCRIPTION

Buyer

Seller

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

A Contract for the Sale and Purchase of Real Estate is a legally binding written agreement that records the terms under which a seller transfers ownership of real property to a buyer. The contract typically identifies the parties, describes the property, states the purchase price and method of payment, sets closing and possession dates, lists contingencies such as inspections or financing, and allocates responsibilities for taxes, utilities, and closing costs. When properly executed, it creates enforceable obligations and triggers title, escrow, and recording processes governed by state real property law.

Why a Clear Sale and Purchase Contract Matters

A well-drafted contract reduces ambiguity, protects each party’s rights, and sets clear milestones for closing, financing, inspections, and title transfer. It provides a record for escrow, lender review, and potential dispute resolution.

Why a Clear Sale and Purchase Contract Matters

Who typically completes this Contract for the Sale and Purchase of Real Estate

Parties, representatives, and professionals who commonly prepare or sign the contract.

  • Buyers and their agents completing buyer obligations and financing contingencies.
  • Sellers and listing agents setting disclosures, price, and closing logistics.
  • Title companies, escrow officers, and lenders reviewing legal and closing conditions.

In many transactions attorneys, closing agents, or real estate brokers prepare or review the contract to ensure compliance with state law and lender requirements.

Key sections to include in a professional sale and purchase contract

A complete contract organizes essential terms so parties, lenders, and title professionals can act without confusion.

Parties

Full legal names and entity types for buyer(s) and seller(s); identify capacity (individual, trustee, LLC) to ensure enforceability and proper vesting.

Property Description

Legal description or parcel number plus street address and any included fixtures or exclusions so the title matches the instrument recorded at the county recorder.

Purchase Price

Total price, earnest money amount, financing method, and payment schedule including any seller credits or escrows for repairs.

Contingencies

Inspection, appraisal, and financing contingencies with explicit cure windows and termination rights to avoid ambiguity on contract expiration.

Closing Terms

Closing date, location, possession date, prorations for taxes and utilities, and allocation of closing costs and recording fees.

Title and Survey

Title commitment requirements, acceptable title exceptions, survey obligations, and corrective actions for defects discovered before closing.

Step-by-step: filling out the Contract for the Sale and Purchase of Real Estate

Follow this sequence to minimize rework and align deadlines across buyer, seller, lender, and title.

  • 01
    Identify Parties: Enter full legal names and contact details for each contracting party.
  • 02
    Describe Property: Use legal description and address; add parcel ID if available.
  • 03
    Set Price and Deposit: Specify purchase price, earnest money amount, and escrow instructions.
  • 04
    Define Contingencies: List inspection, financing, appraisal, and title conditions with deadlines.

How a completed contract moves from signing to closing

This high-level flow outlines the parties and actions after contract execution through recording.

  • Escrow Opening: Escrow receives executed contract and earnest money, orders title search and preliminary title commitment.
  • Contingency Period: Buyer conducts inspections and secures financing; seller addresses cure items or negotiates repairs.
  • Closing Preparation: Final loan documents prepared, prorations calculated, and closing statement provided to parties for review.
  • Recording & Possession: Deed is recorded at county recorder; possession and keys transfer according to the contract.

Configuring an online workflow for this contract

Set up routing, required fields, authentication, and document retention to meet lender and title needs.

Field Configuration
Signature Order Define signer sequence: buyer(s) → seller(s) → escrow → lender
Required Fields Mark names, property ID, price, dates, and signature blocks as mandatory
Authentication Use email link or SMS code; consider ID verification for remote notarization
Retention Enable audit trail and secure storage per regulatory retention timelines

Technical and compliance considerations for electronic completion

Ensure the e-signature platform supports legal, security, and title company requirements before execution.

  • Document formats: PDF and DOCX are standard for lender and title review
  • Integrations: Use integrations with CRM, title, or mortgage systems for automated data transfer
  • Authentication: Multi-factor or ID credentialing reduces signer dispute risk

Platforms used for real estate contracts should provide an audit trail, tamper-evident signed files, and support for remote notarization where state law allows.

Common deadlines and timing expectations in a real estate contract

Typical contract deadlines affect inspections, financing approval, and closing; calendar them immediately upon signing.

Inspection Period:

Often 7–14 days for inspections and seller repairs; exact term is contract-specific

Financing Contingency:

Buyer must secure loan by the date stated to avoid termination or extension

Title Objection Deadline:

Buyer typically notifies escrow within a set number of days after receiving title commitment

Closing Date:

Date for deed transfer and funds distribution as specified in the contract

Possession Date:

When buyer takes physical control; may match or follow the closing date

Authentication, notarization, and witness steps before recording

Real estate deeds and many conveyance instruments require notarization; some states add witness requirements that affect execution logistics.

01

Sign in Presence

Signer executes deed in presence of notary to provide acknowledgement

02

Witnesses If Required

Certain states require one or two witnesses for deeds or powers of attorney

03

Notary Acknowledgement

Notary completes certificate verifying identity and willingness to sign

04

Remote Notarization

If state permits RON, use approved audio-video platform and retain recording per state rules

05

Return to Escrow

Escrow collects notarized originals for recording at county recorder

06

Recording Submission

Recorder stamps and returns recorded deed to escrow or designated recipient

07

Payment of Fees

Ensure recording fees and any transfer taxes are paid at closing

08

Delivery of Keys

Possession and key transfer occur as contract directs once recording or funding completes

Common mistakes to avoid when preparing this contract

  • Using informal or ambiguous property descriptions that do not match county records.
  • Failing to disclose known defects or omissions required by state disclosure statutes.
  • Missing or inconsistent signature blocks and dates that delay escrow or recording.
  • Ignoring lender-required provisions or failing to coordinate contingencies with the mortgage commitment.

Penalties, legal risks, and practical consequences of errors

Breach Damages: Monetary damages or specific performance when a party fails to close
Title Defects: Unmarketable title can delay closing and require corrective instruments
Recording Rejection: Incorrect notary or missing witness may cause county recorder to reject the deed
Financing Fallout: Failure to satisfy financing contingency can void buyer obligations or lead to lost earnest money
Tax Consequences: Incorrect proration or transfer tax filing can trigger penalties and late fees
Ineffective Notice: Improper notice provisions may forfeit rights to cure or contest claims

Security and compliance elements to check for electronic completion

Encryption: TLS 1.2/1.3 in transit; AES-256 at rest
Compliance: ESIGN and UETA legal frameworks apply
Audit Trail: Timestamp, IP, and action log must be stored
HIPAA: BAA required for protected health information
21 CFR Part 11: Support for FDA-regulated records where required
Certifications: SOC 2 Type II; ISO 27001; PCI DSS where applicable

eSignature solution comparison relevant to completing real estate contracts

Comparison of starter pricing and key capabilities for common eSignature vendors; signNow is listed first per table standards.

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 vendor Varies by vendor Varies by vendor Varies by vendor
Bulk Send Yes (Business Premium) Yes Yes Yes Varies by plan
Audit Trail Yes Yes Yes Yes Yes
HIPAA Compliant Yes (BAA available) Yes Yes No No

Real-world examples of using this contract

Practical scenarios illustrate common contract uses and outcomes.

Investment Property Closing

A small investment firm used a standardized contract to close multiple off-market purchases quickly

  • Each closing required uniform title exceptions and escrow instructions
  • The consistent contract language reduced title objections and accelerated closings across five transactions.

Residential Sale with Repairs

A buyer negotiated inspection contingencies and a repair escrow to secure credit for needed work

  • The contract specified repair escrow amounts and completion deadlines
  • Clear contingency language prevented a post-inspection dispute and allowed the sale to close on schedule.

Frequently asked questions about the Contract for the Sale and Purchase of Real Estate

Answers to common questions about execution, e-signing, notarization, and post-closing issues.


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