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Real Estate Purchase Agreement

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SPECIAL POWER OF ATTORNEY
FOR CLOSING REAL ESTATE TRANSACTION
(Agent for Purchaser)

STATE OF OHIO

COUNTY OF

KNOW ALL MEN BY THESE PRESENT, THAT I

whose address is

(City) , (State) , (Zip) , and

currently residing in County,

desiring to execute a SPECIAL POWER OF ATTORNEY, hereby appoint,

of County, Ohio, as my Attorney-in-Fact to act as follows, GRANTING unto my Attorney-in-Fact full power to:

To do all things necessary to close on the purchase of the property described below, commonly known as

(address), with full power and authority for me and in my name to sign, seal, execute, acknowledge, and deliver and accept any and all documents necessary to effect the purchase and settlement on said property from the owner thereof, including but not limited to, sales contracts and addendum thereto, negotiable instruments, deeds, deeds of trust, or other instruments, disclosure statements, closing or settlement statements, etc. FURTHER GRANTING full power and authority to pay any funds for the purchase and the execution of any and all documents in connection therewith, including, but not limited to notes, deeds of trust or mortgages.

The legal description of the property is as follows, to-wit:

I hereby ratify and confirm all that said attorney-in-fact shall lawfully do or cause to be done by virtue of this Power of Attorney and the rights and powers herein granted.

All acts done by means of this power shall be done in my name, and all instruments and documents executed by my Attorney hereunder shall contain my name, followed by that of my attorney and the description "Attorney-in-Fact", excepting however any situation where local practice differs from the procedure set forth herein, in that event local practice may be followed. This SPECIAL POWER OF ATTORNEY shall be valid and may be relied upon by any third parties until such time as any revocation is recorded in the recorder's office of the county where the land is located.

DATED this the day of 20

Witness

Print Name:

Signature

Print Name:

Witness

Print Name:

STATE OF OHIO

COUNTY OF

The foregoing instrument was acknowledged before me this (date) by (name of person acknowledged.)

Notary Public

Printed Name:

My Commission Expires:

Principal Name and Address

Name:

Address:

City:

State: Zip:

Phone:

Attorney-in-Fact Name and Address

Name:

Address:

City:

State: Zip:

Phone:

Prepared by, recording requested by and return to:

Name:

Company:

Address:

City:

State: | Zip:

Phone:

Fax:

--------Above this Line for Official Use Only------------

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What a Real Estate Purchase Agreement Is and when it applies

A Real Estate Purchase Agreement is a written contract that sets the terms under which a buyer agrees to purchase real property from a seller. It identifies the parties, the property, the purchase price, earnest money, contingencies (inspection, financing, title), closing date, and allocation of closing costs. The agreement creates binding obligations when executed by authorized signers and can incorporate attachments such as property disclosures, financing addenda, and escrow instructions. Properly executed agreements are required for recording, title transfer, and lender review.

Why a clear purchase agreement matters

A precise agreement reduces post-offer disputes, clarifies obligations, and protects deposit and title interests. It memorializes conditions for financing, inspections, and closing, which speeds lender review and recording.

Why a clear purchase agreement matters

Who prepares and signs these agreements

Multiple parties and professionals commonly prepare or review purchase agreements before execution.

  • Buyers and their agents who negotiate price, contingencies, and closing timelines and coordinate earnest money deposits.
  • Sellers and listing agents who complete disclosures, agree to title obligations, and accept or counter offers.
  • Lenders, title companies, and attorneys who review financing conditions, title matters, and closing instructions.

Each signer should understand contingencies, deadlines, and signature authority to avoid enforceability issues.

Typical signers and their roles

Buyer — Individual

A buyer signs to accept contract terms, deliver earnest money, and commit to closing obligations. If financing is involved, the buyer must satisfy lender conditions and provide accurate financial disclosures; incorrect or missing information may delay closing or trigger default remedies.

Seller — Owner

The seller signs to transfer equitable title at closing subject to cleared title and agreed repairs. Sellers should ensure all owners listed in title evidence sign or provide trustee/corporate authorization to avoid recording rejection.

Key data items required in the agreement

Party Names: Full legal names
Property Description: Street address, legal description
Purchase Price: Numeric amount
Earnest Money: Amount and deposit terms
Closing Date: MM/DD/YYYY
Contingencies: Inspection, financing, title

Step-by-step: Filling and executing a purchase agreement

Follow these steps in order to prepare a complete, enforceable agreement and streamline closing.

  • 01
    Draft terms: Enter price, contingencies, and closing date before circulation.
  • 02
    Attach exhibits: Include disclosures, addenda, and financing pre-approval documents.
  • 03
    Review with counsel: Have attorney or title officer review for local requirements.
  • 04
    Execute and distribute: Obtain authorized signatures and send copies to lender and title company.

Typical routing and who receives copies

A clear routing plan reduces missed steps and ensures lenders and title officers receive executed documents to schedule closing.

  • Buyer and seller: Each party retains an executed copy for records.
  • Listing and buyer agents: Receive fully executed agreement for transaction management.
  • Title company: Receives agreement to open title and prepare closing statement.
  • Lender: Receives executed contract to finalize mortgage terms.

Essential clauses and attachments to include

A professional agreement includes core clauses that control risk allocation, timing, and remedies; attachments should be referenced explicitly.

Purchase Price

Defines total consideration, allocation for personal property, and whether amounts are subject to adjustments or prorations at closing.

Earnest Money Terms

Specifies deposit amount, escrow agent, deadlines for deposit, refund conditions, and what constitutes buyer default or seller default.

Contingencies

Inspection, financing, appraisal, and title contingencies with defined cure periods and termination rights if conditions are unmet.

Closing Mechanics

Sets closing date, location, who pays which closing costs, prorations, and required deliverables at closing including deed form.

Title and Conveyance

Requires seller to deliver marketable title, describes permitted exceptions, and identifies required title endorsements or gap coverage.

Default and Remedies

Specifies remedies such as specific performance, deposit forfeiture, or termination, plus any agreed dispute resolution process.

Configuring a digital signing workflow for the agreement

Set up signer order, authentication, remittance, and integrations to ensure a secure, auditable e-signature process.

Field Configuration
Signer Order Sequential or parallel signing order
Authentication Email link, SMS code, or ID verification
Reminders Auto reminders and expiration settings
Integrations Connect to title software or CRM

Digital signing considerations and platform requirements

Ensure the chosen eSignature platform supports required security, legal compliance, and file formats before sending the agreement.

  • File Formats: PDF and DOCX support
  • Authentication Options: Email, SMS, KBA, or ID proofing
  • Audit and Logs: IP, timestamp, and action history

Platforms that provide audit trails, secure storage, and optional notarization workflows reduce closing friction and help meet ESIGN and UETA enforceability standards.

Common timing and deadline items in purchase agreements

Track each deadline precisely; contingency and deposit timings often determine rights to terminate or enforce the contract.

Offer Expiration:

Date and time when an offer lapses if not accepted or countered

Inspection Period:

Deadline to complete inspections and request repairs

Financing Contingency:

Deadlines for loan commitment and appraisal completion

Closing Date:

Scheduled date for deed transfer and funds disbursement

Recording Deadline:

Date by which deed and mortgage must be submitted for recording

Primary transaction milestones from offer to recording

A sequential view of milestones helps coordinate inspections, financing, title work, and closing logistics.

01

Offer Accepted

Mutual execution begins contingency timing and earnest money deadlines

02

Due Diligence

Inspection and title review period; requests for repairs or cures issued

03

Financing Approval

Lender issues commitment and appraisal clears conditionally

04

Closing and Recording

Funds exchanged, deed executed, and instruments submitted for recording

Common preparation errors to avoid

  • Using inconsistent party names between contract and title documents causes delays and may require corrective affidavits.
  • Failing to specify escrow instructions or deposit deadlines can result in disputes over earnest money disbursement.
  • Omitting exhibit references (disclosures, addenda) leads to ambiguity about incorporated terms and missing obligations.
  • Incorrect dates or unclear contingency periods may allow either party to claim untimely performance or improper termination.

Consequences of an incorrect or incomplete agreement

Deposit Forfeiture: Loss of earnest money
Breach Claims: Damages or specific performance
Recording Rejection: Title transfer delay
Title Defects: Clouds on title requiring cure
Financing Denial: Buyer cannot close
Fraud Risk: Potential civil and criminal exposure

eSignature vendor comparison for executing Real Estate Purchase Agreements

Basic plan and feature comparisons for common eSignature vendors. signNow is listed first per vendor comparison 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 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

Frequently asked legal and practical questions

Answers to common questions about enforceability, notarization, eSigning, and correcting executed agreements.


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