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Real Estate Offer and Acceptance Agreement

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REAL ESTATE OFFER AND ACCEPTANCE AGREEMENT

Date:    Buyer:    Seller:

RECITALS

WHEREAS, Seller is the owner of certain real property and improvements located at (the Property); and

WHEREAS, Buyer desires to purchase from Seller, and Seller desires to sell to Buyer, the Property on the terms and conditions set forth in this Agreement; and

WHEREAS, the parties intend for this Agreement to constitute a binding contract for the purchase and sale of the Property upon acceptance by Seller as provided below.

NOW, THEREFORE

For good and valuable consideration, the receipt and sufficiency of which are acknowledged, the parties agree as follows:

1. PURCHASE AND SALE

1.1 Purchase Price. The total purchase price for the Property shall be $ (Purchase Price), payable as set forth in this Agreement.

1.2 Payment. Buyer shall pay earnest money in the amount of $ (Earnest Money) to the Escrow Agent described in Section 2. The balance of the Purchase Price shall be paid at Closing by wire, cashier's check, or as otherwise agreed in writing.

2. EARNEST MONEY AND ESCROW

2.1 Escrow Instructions. Upon Buyer’s deposit of the Earnest Money, Escrow Agent shall hold and disburse funds in accordance with the terms of this Agreement and written escrow instructions executed by the parties. If Buyer defaults, Escrow Agent shall disburse funds only pursuant to written release or final order.

3. FINANCING

3.1 Type of Purchase:

3.2 Financing Terms (if applicable): Loan amount $ ; Loan type ; Interest rate not to exceed .

3.3 Loan Approval Deadline. Buyer shall use good faith efforts to obtain financing and shall notify Seller of loan approval or denial by . If Buyer fails to obtain loan approval by such date, Seller may terminate this Agreement and the Earnest Money shall be disbursed as provided herein.

4. INSPECTION AND DUE DILIGENCE

4.1 Inspection Period. Buyer shall have days from the Effective Date to complete inspections and investigations of the Property (Inspection Period). Buyer shall provide written notice of any defects or objections prior to the expiration of the Inspection Period.

4.2 Repair Negotiation. Seller shall have the right, within days after receipt of Buyer’s inspection objections to accept, reject, or propose alternative remedies. If parties cannot agree, Buyer may elect to proceed without repairs or terminate as provided herein.

5. TITLE, SURVEY, AND DOCUMENTS

5.1 Title Evidence. Seller shall convey marketable fee simple title free of liens and encumbrances except as disclosed in writing and accepted by Buyer. Buyer may obtain, at Buyer’s expense, a survey, title search, and title insurance commitment. Seller shall deliver all documents reasonably necessary to vest marketable title at Closing.

6. CLOSING

6.1 Closing Date. Closing shall occur on or before at a place mutually agreed by the parties or at the office of the Escrow or Title company identified above.

6.2 Closing Costs and Prorations. All customary closing costs shall be paid as follows: Buyer shall pay loan-related costs and recording charges; Seller shall pay payoff of liens and deed preparation. Real property taxes, assessments, and rents, if any, shall be prorated as of the Closing Date.

7. POSSESSION

Possession shall be delivered to Buyer at Closing unless otherwise agreed in writing. If possession is to be given earlier or later, the agreed date is .

8. FIXTURES, PERSONAL PROPERTY, AND EXCLUSIONS

9. REPRESENTATIONS AND WARRANTIES

9.1 Seller Representations. Seller represents and warrants that Seller is the lawful owner of the Property and has full right and authority to transfer the Property, that there are no undisclosed material defects in the Property known to Seller, and that no notices of violation, orders, or claims materially affecting the Property have been received except as disclosed in writing.

9.2 Buyer Representations. Buyer represents that Buyer has the authority to enter this Agreement and will complete the purchase if Seller performs pursuant to the terms hereof.

10. DEFAULT AND REMEDIES

10.1 Buyer Default. If Buyer fails to timely perform any obligation under this Agreement, Seller may (a) terminate this Agreement and seek deposit of the Earnest Money as liquidated damages, or (b) pursue specific performance and other remedies at law or in equity. The parties agree that Seller’s election of liquidated damages shall be Buyer’s sole monetary liability absent fraud or willful misconduct.

10.2 Seller Default. If Seller fails to convey title or perform obligations under this Agreement, Buyer may elect to (a) terminate and receive return of Earnest Money and pursue damages, or (b) seek specific performance to compel conveyance of the Property.

11. NOTICES

Notices shall be in writing and given by personal delivery, recognized overnight courier, or registered or certified mail, return receipt requested, and shall be effective upon receipt.

12. RISK OF LOSS

If, prior to Closing, the Property is materially damaged or destroyed by fire or other casualty, Seller shall promptly notify Buyer. Buyer may elect to (a) terminate this Agreement and receive return of Earnest Money, or (b) proceed to Closing with an equitable adjustment for repairs or insurance proceeds.

13. MISCELLANEOUS

13.1 Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the state in which the Property is located.

13.2 Entire Agreement. This Agreement, together with any exhibits and written addenda executed by the parties, constitutes the entire agreement between the parties with respect to the purchase and sale of the Property and supersedes all prior negotiations and agreements, whether written or oral.

13.3 Severability. If any provision of this Agreement is held invalid or unenforceable, the remaining provisions shall remain in full force and effect and the invalid provision shall be reformed to the minimum extent necessary to make it enforceable.

13.4 Amendments; Waiver. No amendment or waiver of any provision of this Agreement shall be effective unless in writing and signed by the party against whom enforcement is sought. Waiver of any breach shall not be deemed a waiver of any subsequent breach.

13.5 Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original and all of which together shall constitute one and the same instrument. Facsimile or electronic signatures shall be binding for all purposes.

ADDITIONAL PROVISIONS

ACCEPTANCE

This offer is open for acceptance by Seller and will become a binding Agreement upon receipt by Buyer of a written acceptance signed by Seller on or before .

Buyer Printed Name:

By:

Date:

Seller Printed Name:

By:

Date:

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What the Real Estate Offer and Acceptance Agreement Is

A Real Estate Offer and Acceptance Agreement is a written contract that records a buyer’s proposal to purchase a specific property and a seller’s acceptance of those terms. It sets out the purchase price, financing terms, contingencies (inspections, appraisal, title, financing), earnest money instructions, proposed closing and possession dates, and any required disclosures. When properly completed and executed by the parties, the agreement creates enforceable obligations under contract law and may be executed electronically in the United States under ESIGN (15 U.S.C. ch. 96) and applicable state law (UETA or state ESRA).

Why This Agreement Matters for a Smooth Closing

The Offer and Acceptance Agreement documents mutual intent, fixes key dates and conditions, protects deposit funds, and allocates closing obligations. It reduces ambiguity about what was agreed and provides a clear roadmap for title work, lender requirements, and contingency removal.

Why This Agreement Matters for a Smooth Closing

Who Typically Prepares and Signs This Agreement

Typical participants include buyers, sellers, real estate agents, brokers, lenders, and title or escrow companies who manage closing logistics.

  • Buyers and buyer agents preparing the terms and contingencies for property purchase.
  • Sellers and listing agents reviewing, countering, and accepting offers with disclosure obligations.
  • Title/escrow officers and lenders reviewing contract terms to prepare closing documents and funding conditions.

Each party’s role affects timing and required documentation; coordinate early to meet financing, inspection, and recording deadlines.

Essential Elements to Include in a Professional Offer

A complete Offer and Acceptance Agreement organizes transactional details so all parties understand obligations, timing, and remedies if contingencies fail. Include these core sections to minimize disputes and speed closing.

Offer Terms

State the buyer’s proposed price, concessions, and effective date; clarify whether the offer is firm, contingent, or subject to counteroffers.

Property Details

Include full street address, unit number if applicable, and a concise legal description or parcel ID to avoid ambiguity in title and recording.

Price & Financing

Specify purchase price, financing type, loan contingency deadlines, and any seller financing or assumable loan provisions.

Contingencies

List inspection, appraisal, title review, and financing contingencies with clear cure or removal deadlines and procedures.

Closing & Possession

Set the target closing date, possession date, escrow instructions, prorations, and which party pays closing costs or fees.

Signatures

Provide signature blocks for all parties with printed names, dates, and acknowledgement of attachments, disclosures, and addenda.

Key Fields Required on the Agreement

Buyer Name: Full legal name
Seller Name: Full legal name
Property Description: Address and parcel ID
Purchase Price: Numerical amount
Closing Date: MM/DD/YYYY
Earnest Money: Amount and payee

Step-by-Step: Completing the Offer and Acceptance

Follow these steps in order to prepare, transmit, and finalize an offer while preserving legal enforceability.

  • 01
    Draft Offer: Enter terms, price, contingencies, and attachments; review for accuracy.
  • 02
    Deliver to Seller: Send to listing agent or seller via trackable method or secure eSignature platform.
  • 03
    Negotiate or Counter: Document all counteroffers in writing and set clear acceptance deadlines.
  • 04
    Acceptance & Deposit: Obtain signed acceptance and confirm earnest money deposited per contract terms.

How to Configure an Online Offer Workflow

Set up fields, signer order, and authentication so the online agreement meets legal and lender requirements.

Field Configuration
Signature Type Email link, SMS code, or in-person signature
Authentication Email verification or SMS one-time code
Conditional Fields Show inspection deadlines only if inspection contingency selected
Notifications Set automatic reminders for deposits and contingency removals

Where the Agreement Goes After Signing

After execution, distribute the signed agreement to each party and to professionals who require copies to proceed with closing.

  • Seller / Agent: Provide fully signed agreement and countersigned copies.
  • Buyer / Lender: Send to lender to confirm financing conditions and underwriting.
  • Title / Escrow: Forward to title company to open escrow and order title search.
  • Recording: Post-closing deed recorded at county recorder’s office.

Digital Signing and Submission: Technical Considerations

Choose a signing platform that supports secure e-signatures, audit trails, and the file formats your title or lender requires.

  • File Formats: PDF and Word DOCX are widely accepted
  • Integrations: Salesforce, NetSuite, Google Workspace supported
  • Authentication: Email, SMS, or stronger KBA options

Common Deadlines and Timing Expectations

Real estate offers include several time-sensitive elements; set calendar reminders and follow escrow instructions closely.

Offer Expiration:

Often 24–72 hours; seller sets the deadline for acceptance

Earnest Money Deposit:

Typically due within 3 business days after acceptance

Inspection Period:

Commonly 7–10 calendar days to schedule and report issues

Financing Contingency:

Often 21–30 days to secure loan approval

Closing Date:

Set in contract; may be extended by mutual written agreement

Common Preparation Mistakes to Avoid

  • Using an incomplete legal description that differs from title records, causing exceptions or a delayed closing and additional title work.
  • Failing to include clear contingency deadlines or how contingencies are removed, which can create disputes about timing and obligations.
  • Mismatching buyer or seller legal names between the contract and supporting documents, leading to underwriting delays or corrective affidavits.
  • Relying on verbal confirmations for terms that should be written in the agreement; oral changes rarely bind third parties or title companies.

Risks and Consequences of an Incorrect Agreement

Recording Delay: Lost priority
Contingency Failure: Contract can terminate
Earnest Forfeiture: Buyer may lose deposit
Title Defects: Additional cure costs
Tax Liability: Unplanned tax exposure
Invalid Signature: Enforceability risk

Download, Save, and Supporting Documents

Produce and store executed agreements in formats accepted by lenders, title companies, and courts; include common supporting documents when sharing the packet.

Accepted Formats

Save final agreement as PDF/A for long-term archiving and also keep a DOCX editable copy for internal records and redlines.

Supporting Documents

Attach signed disclosures, lead-based paint forms, seller property disclosures, and purchase addenda required by state law or local custom.

Escrow Instructions

Provide escrow letter, earnest money receipt, and wiring instructions separately to the escrow officer for deposit verification.

Title Commitment

Include title search or commitment, showing exceptions and required curative steps before closing.

How to Amend or Revise an Executed Offer

Make contract amendments in writing, signed by all parties. Use an addendum or counteroffer to change material terms.

01

Propose Amendment:

Draft a clear addendum describing each changed term.
02

Signatures Required:

All original parties must sign the amendment.
03

Consider Counteroffer:

A counteroffer rejects the prior offer unless accepted.
04

Document Dates:

Update effective dates on the amendment explicitly.
05

Notify Escrow:

Send signed amendment to escrow and title for processing.
06

Record Changes:

Record only final deed post-closing; do not record offers.

eSignature Vendor Pricing & Feature Comparison for Real Estate Agreements

Compare baseline pricing and common features for eSignature vendors. signNow is listed first per comparison conventions; verify each vendor’s plan details before purchase.

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 Trial available Trial available Trial available Trial available
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 Offer and Acceptance Agreements

Answers to common practical and legal questions about completing, signing, and enforcing an Offer and Acceptance Agreement in the United States.


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