Purchase Agreement
Primary contract setting price, parties, financing terms, contingencies, closing date, and remedies. It is the binding offer once accepted.
Using a consolidated packet reduces ambiguity, speeds review, and helps preserve contractual protections by grouping the purchase agreement, required disclosures, and closing instructions in a consistent, reproducible format.
Real estate agents, buyers, sellers, escrow officers, lenders, and attorneys commonly prepare or review purchase contract packets.
Each participant has distinct responsibilities; aligning them in one packet reduces omissions and supports a clear closing timeline.
A buyer named on the contract must sign using the exact legal name on government ID; agents may sign only with power of attorney or explicit written authorization.
A corporate or LLC seller generally requires a corporate officer or authorized signatory; include a corporate resolution or executed authorization to evidence signature authority.
Primary contract setting price, parties, financing terms, contingencies, closing date, and remedies. It is the binding offer once accepted.
State-specific disclosure forms on property condition, environmental hazards, lead paint, and HOA rules. Missing disclosures can delay or void closings.
Title commitment, existing encumbrances, and escrow wiring instructions to support lender and buyer due diligence before closing.
Loan contingency, mortgage commitment deadlines, appraisal conditions, and required lender documentation for mortgage-dependent purchases.
Inspection reports, repair scopes, and negotiated credits or repair obligations tied to inspection contingency deadlines.
Accurate legal property description, plat maps, and any contractual exhibits such as survey results or HOA documents.
| Field | Configuration |
|---|---|
| Authentication Method | Email link, SMS code, or KBA per transaction risk |
| Routing Order | Define signer sequence: buyer -> seller -> lender -> escrow |
| Template Reuse | Save as template for recurring forms and consistent field placement |
| Conditional Fields | Show financing/deposit fields only when applicable to offer |
Use a platform that supports PDF/DOCX, audit trails, encryption, and integration with title or CRM systems.
Confirm the eSignature provider supports ESIGN/UETA compliance, long-term tamper-evidence, and the ability to produce a certificate of completion for file retention and audit purposes.
Often 24–72 hours from submission; specify exact date and time
Typical 7–14 days to complete inspections and request repairs
Commonly 21–30 days for loan commitment from application
Usually aligned with loan contingency; often within 14–21 days
Often 30–45 days after acceptance unless parties agree otherwise
Buyer submits packet and earnest money; clock starts on acceptance.
Executed by seller; contingencies and deadlines become operative.
Inspections, appraisals, and lender conditions satisfied or waived.
Funds disbursed, deed recorded, and title transferred to buyer.
Tim Martin used digital packets to close remotely on resale properties.
Optica Ventures streamlined offer submission with standardized packets.
| 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 plan | Varies by plan | Varies by plan | Varies by plan |
| Bulk Send | Yes (Business Premium) | Yes | Yes | Yes | Varies by plan |
| Audit Trail | Yes | Yes | Yes | Yes | Yes |
| HIPAA Compliant | Yes | Yes | Yes | No | No |