Are electronic signatures valid?

Yes. Electronic signatures are legally recognized under the federal ESIGN Act and state UETA statutes when intent, consent, attribution, and record retention are satisfied (see 15 U.S.C. ch. 96 and UETA). Some exceptions apply for a few transaction types listed in state law.

Do deeds need notarization?

Most states require a notary acknowledgment on deeds before recording; some states also require witness signatures. Check county recorder rules and state law for specific notarization and witness counts.

Can the agreement be eSigned and notarized remotely?

Remote online notarization (RON) is permitted in most states with permanent RON laws, subject to identity proofing, audio-video recording, and journal retention. Verify your state's notary commission rules before using RON.

What happens if names don't match title records?

Mismatched names can generate title exceptions, delay lender approval, or require corrective documents. Use exact legal names and include entity documentation for corporate sellers or buyers.

How long should I keep closed transaction records?

Keep executed contracts and closing documents at least three years for IRS purposes and typically seven years for title defense and business records; HIPAA or other rules may require longer retention.

When should I consult an attorney?

Consult counsel for complex title issues, disputed property boundaries, major repairs, unusual escrow terms, or when federal or state regulations materially affect the transaction; attorney review reduces litigation risk.

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Real Estate Purchase and Sale Agreement

Real Estate Purchase and Sale Agreement

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Correction Statement and Agreement

STATE OF WASHINGTON

COUNTY OF

In consideration of the closing of the sales transaction identified herein, Seller(s) and Buyer(s) agree as follows:

1. This agreement concerns the closing of a real estate transaction between Seller(s) and Buyer(s) as evidenced by dated , a copy of which is attached hereto.

2. Seller(s) and/or Buyer(s) shall correct and/or replace any closing document at the request of the other, or the Closing Representative, or Lender, that contains an error, inaccuracy, or has been lost, destroyed or misplaced for any reason. A closing document shall be deemed to contain an error or inaccuracy if it fails to reflect the true or correct terms and conditions of the closing and loan, if applicable or to conform to the contract of sale or true intentions of the parties. Examples include but are not limited to errors in the legal description, misspelled names, invalid acknowledgment, etc.

3. This agreement is made regardless of the reason for any loss, misplacement, or inaccuracy in any closing or Loan documents, if any.

4. "Correct or Replace" includes but is not limited to the execution, acknowledgment, initialing, and delivering to the other any documentation deemed necessary to replace or correct the lost, misplaced, misstated, or inaccurate document(s). "Closing Documents" include, but are not limited to closing statements, deeds, deeds of trust or mortgages, promissory notes, affidavits, contracts or other documents executed by the parties in connection with the closing.

5. If the original promissory note is replaced, the Seller(s)/Lender hereby indemnifies the Buyer(s) against any loss associated with a demand in the original note.

6. Buyer(s) and Seller(s) shall deliver the Replacement Documents within thirty (30) days after receipt by the other of a written request for corrective action under this agreement.

7. In the event that the Closing Statement or funds transferred between Buyer(s) and Seller(s) did not accurately reflect the agreement of the parties, Buyer(s) and Seller(s) will supply additional amounts due or amount to be refunded.

8. This agreement is not intended to address errors or inaccuracies in any consumer disclosures given to Buyer(s) in connection with Buyer(s) Loan, if any. Such errors or inaccuracies will be addressed by Seller(s)/Lender in accordance with the applicable consumer law or regulation.

9. If Buyer(s) or Seller(s) fail or refuse to execute, acknowledge, initial, and deliver the Replacement Documents or provide the additional documents or fees for more than thirty (30) days after being requested to do so, Buyer(s) or Seller(s), whichever is the refuser, agrees to be liable for any and all loss or damage which the other reasonably sustains thereby, including but not limited to all reasonable attorney's fees and costs incurred to obtain the corrected or replacement documents.

10. This agreement shall survive the closing inure to the benefit of the Buyer(s) and Seller(s), their successors and assigns, and be binding upon the heirs, devisees, personal representatives, successors, and assigns of the parties

Sworn to and Subscribed before me this the day of , 20 .

My Commission Expires:

NOTARY PUBLIC

What the Real Estate Purchase and Sale Agreement Is

A Real Estate Purchase and Sale Agreement is a legally binding contract that records the terms under which a seller transfers property to a buyer. It identifies the parties, describes the property, states the purchase price, establishes financing and inspection contingencies, and sets the closing date and deliverables. The agreement allocates obligations for title, escrow, prorations, and risk of loss between contract signing and closing. Proper execution and complete terms reduce the risk of disputes and create the basis for recording the deed after closing.

Why this Agreement Matters for Buyers and Sellers

A clear Purchase and Sale Agreement defines rights, timelines, and remedies so parties and third parties (lenders, title companies) know their obligations and can proceed toward closing with predictable steps.

Who typically prepares and reviews this agreement

Real estate brokers, listing agents, buyers, sellers, title companies, and attorneys commonly prepare or review purchase and sale agreements.

Listing agent or broker prepares the initial draft and negotiates terms on behalf of the seller, aligning disclosures and closing timeline with seller expectations.
Buyer's agent reviews contingencies including inspection and financing, coordinates earnest money delivery, and ensures contingencies are satisfied or waived on schedule.
Title company or closing agent confirms title commitments, coordinates recording, and receives closing funds to complete escrow and issue title insurance.

Each party relies on the contract to allocate risk, set contingencies, and provide the basis for closing and recording the deed.

Common signers and their roles

Buyer — Individual

A buyer signs to accept transfer terms, agrees to purchase price and contingencies, and authorizes escrow to disburse funds at closing. Buyers should verify names, financing deadlines, and the exact legal property description before signing.

Seller — Owner

A seller signs to convey marketable title subject to the agreement, affirms required disclosures, and authorizes deed execution at closing. Sellers must confirm encumbrances and be prepared to cure title defects or disclose them.

Essential clauses in a professional agreement

A robust Purchase and Sale Agreement uses clear, specific clauses to allocate risk, set deadlines, and identify closing deliverables so third parties and courts can enforce the parties' intent.

Property Description

Use the full legal description or street address plus parcel ID. Ambiguity can cause recording problems or title defects and delay closing and insurance issuance.

Purchase Price

State the exact dollar amount, allocation between earnest money and balance due, and any seller credits. Tie price adjustments to appraisal or financing contingencies when applicable.

Contingencies

Include inspection, financing, appraisal, and title review contingencies with explicit cure periods and consequences for failure to satisfy or timely waive them.

Closing Mechanics

Specify the closing date, location or escrow holder, delivery of deed, proration method, and conditions precedent for disbursement of funds.

Representations

Seller representations about authority, absence of undisclosed liens, and disclosures reduce later claims; buyer representations typically cover financing intent and earnest money capability.

Default Remedies

Define remedies such as contract termination, specific performance, or liquidated damages and establish how earnest money will be handled in a breach.

Key data elements to protect on the contract

Names: Full legal names

Property: Legal description

Price: Exact dollar amount

Dates: MM/DD/YYYY format

Signatures: Typed or drawn signature

Escrow Info: Escrow holder and account

Filling out a Purchase and Sale Agreement: step-by-step

Follow a consistent sequence: identify parties, describe property and price, set contingencies, choose closing logistics, and finalize signature blocks.

01

Identify parties: Enter full legal names exactly as on ID and title documents.
02

Describe property: Use legal description or parcel ID and physical address.
03

Set price and deposits: Specify purchase price, earnest money amount, and deposit schedule.
04

Add contingencies: Define inspection, financing, appraisal deadlines and cure periods.

Common transaction flow from contract to recording

A typical transaction follows predictable stages from executed contract through closing and deed recording; each stage involves different stakeholders and documents.

Contract executed: Buyer and seller sign and escrow receives earnest money.
Contingency period: Inspections, appraisal, and lender underwriting occur.
Closing preparation: Title company prepares closing statement and deed.
Closing and recording: Funds exchanged; deed recorded with county recorder.

Supporting documents and file formats to include

Include all documents that affect transfer and title. Maintain copies in common, archival-ready formats so parties and third parties can reproduce the record.

Deed

Recorded deed executed at closing, in PDF/A for long-term retention; includes full legal description and notary acknowledgment where required.

Title Commitment

Title company commitment showing outstanding liens, exceptions, and requirements to obtain insurable title; include as exhibit when required.

Inspection Reports

Home inspection, pest and septic reports attached or referenced; identify cure actions or credit allowances explicitly in the agreement.

Closing Statement

HUD-1 or closing disclosure showing final prorations, seller credits, and party disbursements; keep signed copies for recordkeeping.

Practical tips for accurate, enforceable agreements

Small drafting choices reduce disputes and speed closing; use precise language and confirm supporting exhibits.

Use complete legal property descriptions

Avoid relying solely on street addresses. Include parcel or lot numbers when available to prevent ambiguity during title search and recording.

Spell out money and numbers

Write the purchase price both numerically and in words to prevent arithmetic disputes; cross-check arithmetic on prorations and credits.

Set clear contingency deadlines

Provide explicit number of days and whether calendar or business days apply; include methods for delivering notices and waivers.

Confirm signatory authority

If an entity signs, attach corporate resolution or power of attorney showing authority to execute the agreement on behalf of the entity.

Common timing windows and dates to track

Track key dates explicitly in the contract and calendar alerts so contingencies, financing, and closing deadlines are not missed.

Inspection period:

Typically 7–14 days for buyer inspections and repair requests.

Loan commitment:

Buyer usually secures lender commitment within 21–45 days.

Appraisal deadline:

Often 14–21 days from contract execution to complete appraisal.

Final walk-through:

Usually scheduled within 24–72 hours before closing.

Closing date:

Fixed date for exchange of funds and recording of deed.

How this agreement differs from related document types

Compare common document types by whether they are binding at signature and whether they are recorded with county offices.

Document Type	Binding on Sign	Recording Needed
Purchase Agreement
Residential Lease
Deed
Option to Purchase

eSignature vendor comparison for real estate transactions

Pricing and core features vary by vendor; signNow is listed first for direct comparison across typical plan attributes and compliance needs.

	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 trial	No	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

Common errors that delay closing

Entering an informal or incomplete legal description that differs from county records leads to title exceptions and recording rejections.
Using nicknames or partial names that do not match government ID or title records can block lender approval and title insurance.
Failing to set or track contingency deadlines causes automatic waivers or disputes over whether conditions were timely satisfied.
Omitting escrow holder details or incorrect escrow wiring instructions increases risk of misdirected funds and settlement delays.

Consequences of incorrect or incomplete agreements

Unenforceable Terms: May void remedies

Recording Rejection: Deed may be rejected

Closing Delays: Financing may fall through

Escrow Disputes: Funds held or contested

Title Exceptions: Insurer may require cures

Tax Outcomes: Incorrect proration or reporting

Digital signing and platform compatibility

Real estate workflows commonly use PDF and DOCX formats and integrate with CRMs and title systems for routing and storage.

File formats: PDF, DOCX, HTML
Integrations: Salesforce, NetSuite, Microsoft 365
Security: AES-256 at rest

Real-world examples of purchase agreement use

Examples show how the agreement functions across transaction sizes and stakeholders.

Broker-managed sale

A regional brokerage uses a standard form to capture buyer offers and contingencies quickly

The form includes financing and inspection deadlines
This approach reduced turnaround time for accepted offers and gave clear instructions for escrow and title coordination.

Developer resale

A developer attaches construction schedules and warranty exhibits to the agreement

The buyer reviews punchlist and completion milestones
Explicit exhibits prevented disputes about final acceptance and ensured final payments aligned with completion criteria.

Frequently asked questions about execution and validity

Answers address common legal and practical questions, including eSignature validity, notarization, and record retention for real estate contracts.

Need help? Contact support

Are electronic signatures valid?
Yes. Electronic signatures are legally recognized under the federal ESIGN Act and state UETA statutes when intent, consent, attribution, and record retention are satisfied (see 15 U.S.C. ch. 96 and UETA). Some exceptions apply for a few transaction types listed in state law.
Do deeds need notarization?
Most states require a notary acknowledgment on deeds before recording; some states also require witness signatures. Check county recorder rules and state law for specific notarization and witness counts.
Can the agreement be eSigned and notarized remotely?
Remote online notarization (RON) is permitted in most states with permanent RON laws, subject to identity proofing, audio-video recording, and journal retention. Verify your state's notary commission rules before using RON.
What happens if names don't match title records?
Mismatched names can generate title exceptions, delay lender approval, or require corrective documents. Use exact legal names and include entity documentation for corporate sellers or buyers.
How long should I keep closed transaction records?
Keep executed contracts and closing documents at least three years for IRS purposes and typically seven years for title defense and business records; HIPAA or other rules may require longer retention.
When should I consult an attorney?
Consult counsel for complex title issues, disputed property boundaries, major repairs, unusual escrow terms, or when federal or state regulations materially affect the transaction; attorney review reduces litigation risk.

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