Is an electronic signature acceptable?

Yes. Under the federal ESIGN Act (15 U.S.C. ch. 96) and state UETA enactments, electronic signatures and records are generally legally equivalent to handwritten signatures for contracts like a Unit Purchase Agreement, except where state law specifically excludes the transaction type.

Are notarization or witnesses required?

Notarization of deeds or acknowledgements is required for recording in all U.S. jurisdictions; some states also require witnesses for deeds or transfers (for example, Florida commonly requires two witnesses). Check the county recorder and state notary statutes for exact rules.

What if the legal description is wrong?

An incorrect legal description can prevent recording and create title defects. Corrective instruments or affidavits may be required; title companies often require resolution before funding. Consult title counsel and consider escrow holdbacks until accurate records are filed.

How do I correct signed errors?

Minor typographical errors can be fixed by mutual amendment signed by all parties; material changes require a written amendment or new agreement. Document the change, date the amendment, and retain signatures and initialed pages for audit and recording purposes.

Who pays closing costs and fees?

The agreement should specify allocation of closing costs, prorations, and transfer taxes. Typical practice varies by market; lenders and investors may impose payoff instructions. Explicit clauses prevent post-closing disputes over fees and settlement accounting.

Can the agreement be canceled?

Cancellation is governed by the contract's termination clauses and valid contingency exercises. If contingencies are timely removed or cures are insufficient, the non-breaching party may pursue remedies including deposit forfeiture or specific performance under state law.

Electronic Signature
Templates
Finance
Unit Purchase Agreement

Unit Purchase Agreement

This template is fully customizable. Edit the text, fill out the fields, and send it for signature. Give it a try!

UNIT PURCHASE AGREEMENT

This Unit Purchase Agreement (the Agreement) is made and entered into on by and between:

Parties

Buyer Buyer Address Buyer Phone / Email Seller Seller Address Seller Phone / Email

Unit Description

The Seller agrees to sell and the Buyer agrees to purchase the real property identified as Unit located at commonly known as .

Legal Description (if available)

Purchase Price and Payment

Purchase Price: $ . Buyer shall pay an earnest money deposit of $ to be held in escrow by .

Payment Allocation

Item	Amount
Purchase Price	$
Earnest Money (Deposit)	$
Seller Credits / Adjustments	$
Balance Due at Closing	$

Financing; Contingencies

This Agreement is contingent upon Buyer obtaining financing on or before . If Buyer fails to satisfy this financing contingency, Seller may retain the deposit as liquidated damages, unless otherwise agreed in writing.

Financing Details

Inspection; Condition

Buyer shall have the right to conduct inspections of the Unit within days after the Effective Date. Any material defects revealed by inspections must be delivered in writing to Seller prior to the expiration of the inspection period. Seller shall have the option to cure defects or negotiate credit. If the parties cannot agree, Buyer may terminate and receive return of deposit.

Inspection Report / Notes

Title and Closing

Title shall be conveyed by general warranty deed subject only to permitted exceptions. Closing shall occur on or before at . Title costs, recording fees, and customary closing costs shall be allocated as follows:

Title Company / Closing Agent

Adjustments, Assessments, and HOA

Real property taxes, homeowner association dues, assessments, and utilities shall be prorated as of the date of closing. Seller represents that any HOA or condominium association known assessments are as follows:

HOA / Association Name HOA Dues and Transfer Fees

Representations and Warranties

Seller represents and warrants that: (a) Seller is the lawful owner of the Unit and has full power to convey good and marketable title; (b) there are no undisclosed liens, judgments, or encumbrances against the Unit except as disclosed in writing to Buyer; and (c) Seller has not received notice of any pending condemnation or special assessment affecting the Unit other than as disclosed in this Agreement. Buyer acknowledges reliance on Buyer's own inspection, except as expressly set forth in Seller representations.

Default; Remedies

If Buyer defaults under this Agreement, Seller may retain the deposit as liquidated damages or pursue other remedies available at law or equity. If Seller defaults, Buyer may elect specific performance, recover the deposit, and pursue any other remedies available at law or equity. The parties agree that damages are difficult to ascertain and the deposit is a reasonable estimate of actual damages in the event of Buyer default.

Notices

All notices required or permitted under this Agreement shall be in writing and delivered to the addresses set forth below or as updated in writing by the parties. Notice is effective upon hand delivery, confirmed overnight courier delivery, or three days after deposit in the United States mail, postage prepaid.

Buyer Notice Address Seller Notice Address

Miscellaneous Provisions

Governing Law: This Agreement shall be governed by and construed in accordance with the laws of the state in which the Unit is located. Venue for any dispute shall be in the appropriate court with jurisdiction over that county.

Entire Agreement; Amendments: This Agreement, including any exhibits and written addenda, constitutes the entire agreement between the parties. Any amendment must be in writing and signed by both parties.

Attorney Fees; Severability: In any action to enforce this Agreement, the prevailing party shall be entitled to recover reasonable attorneys' fees and costs. If any provision is held invalid, remaining provisions shall remain in full force.

Additional Terms or Special Conditions

Buyer Printed Name:

By:

Date:

Seller Printed Name:

By:

Date:

What a Unit Purchase Agreement Covers

Unit Purchase Agreement is a written contract used to buy and sell a defined ownership interest in a single unit — commonly a condominium unit, cooperative share, manufactured housing lot, or a membership unit in a business. The agreement sets purchase price, deposit and escrow terms, financing contingencies, inspection and repair obligations, title and closing procedures, prorations, and any condo or HOA disclosures. It allocates risk between buyer and seller, schedules key dates for contingency removal and closing, and creates enforceable obligations that survive to closing or termination under state contract law.

Why a Clear Unit Purchase Agreement Matters

Used to document terms and protect parties, a Unit Purchase Agreement clarifies price, contingencies, and closing duties while allocating risk and remedies. Properly executed, it creates enforceable contractual rights under state contract law and can be delivered electronically where ESIGN or UETA applies.

Who Typically Prepares and Signs This Agreement

Buyers, sellers, real estate brokers, title companies, lenders, and attorneys commonly use the Unit Purchase Agreement in property or unit-interest transactions.

Residential buyers and sellers for condominium or cooperative unit transfers.
LLC or partnership members buying or selling ownership units in a private company.
Agents, escrow officers, and title insurers handling contract, escrow, and closing workflows.

Professionals rely on clear agreements to reduce disputes and meet statutory disclosure and deadline requirements during closing processes.

Essential Information Fields to Include

Buyer name: Full legal name as on ID

Seller name: Full legal name as on ID

Property description: Unit address, unit number, legal description

Purchase price: Agreed dollar amount in figures

Deposit / escrow: Amount, due date, and escrow holder

Closing date: MM/DD/YYYY format or range

Step-by-Step: Completing the Unit Purchase Agreement

Follow these steps to complete a Unit Purchase Agreement accurately and prepare for closing on time.

01

Gather information: Collect buyer/seller IDs, unit legal description, HOA docs, and financing terms.
02

Draft agreement: Enter price, deposit, contingencies, prorations, and closing requirements.
03

Review contingencies: Specify inspection, financing, and HOA approval deadlines.
04

Execute and escrow: Obtain signatures, initial required pages, and deliver deposit to escrow.

Configuring an Online Unit Purchase Agreement Workflow

Configure an online Unit Purchase Agreement workflow to collect signatures, attachments, and conditional fields before routing to escrow and title.

Field	Configuration
Signature Method	Email link, SMS code, or KBA
Authentication	Email verification; add SMS or knowledge-based auth
Conditional Fields	Show HOA addendum only if property is condo
Attachments	Require HOA rules, CCRs, or inspection reports before signing
Routing	Send to buyer, seller, escrow, and title in order

Where to Send and File the Signed Agreement

Typical delivery and filing steps for a Unit Purchase Agreement, from initial exchange through escrow deposit and recorded transfer at county recorder.

Send to Escrow: Deliver signed agreement and deposit instructions to escrow officer.
Provide to Lender: Submit agreement and loan documents for underwriting and approval.
Title Company: Order title search and deliver executed agreement for recording.
Record Deed/Transfer: At closing, record deed or ownership transfer with county recorder.

Digital Delivery and Integration Considerations

Digital delivery options and platform requirements for electronic completion, signature authentication, and secure storage in closing workflows.

Supported Formats: PDF, DOCX, and HTML
Integrations: Salesforce, NetSuite, Microsoft 365 integrations
Security: TLS 1.2/1.3 in transit; AES-256 at rest

Key Dates to Track in the Agreement

Key deadlines to track during a Unit Purchase Agreement lifecycle to avoid breach and preserve remedies.

Deposit due date:

Date deposit must be delivered to escrow per agreement

Inspection deadline:

Final day for buyer inspections and repair requests

Financing contingency:

Deadline to satisfy loan conditions or cancel contract

HOA approval:

Date by which HOA must approve or provide required documents

Closing date:

Anticipated date to transfer ownership and record deed

Common Preparation Errors to Avoid

Using informal or incomplete legal descriptions can cause title defects and delay closings when county records do not match the agreement.
Failing to specify contingency deadlines or financing conditions often leaves parties uncertain about performance obligations and may lead to disputes or contract termination.
Entering inconsistent purchase price figures and words creates ambiguity and may require corrective amendments before lenders or title companies will proceed.
Neglecting to attach HOA bylaws, resale certificates, or transfer rules can void closing rights or trigger cure periods under condominium statutes.

Principal Risks and Consequences of Errors

Deposit Forfeiture: Buyer may lose deposit if contract breached

Specific Performance: Court may order transfer or completion

Recording Defect: Incorrect description hinders recording

Title Liability: Seller may need to cure title defects

Tax Reporting: Broker or payer reporting obligations apply

Delay Costs: Extended closing increases carrying costs

Core Sections to Include in a Professional Agreement

Core sections in a professional Unit Purchase Agreement help define transaction mechanics, allocate risk, and guide closing logistics between buyer, seller, and third-party service providers.

Parties

Identifies buyer(s), seller(s), and any guarantors or entities involved, including corporate authority or signatory capacity; accurate identification avoids disputes over who has the legal right to perform or receive proceeds.

Purchase Terms

Sets price, earnest money amounts, payment schedule, seller concessions, and allocation of closing costs. Clear pricing prevents ambiguity in payoff demands, lender instructions, and settlement statements.

Contingencies

Specifies inspections, financing, title review, HOA approval, and appraisal contingencies with explicit deadlines and notice procedures for acceptance, cure, or termination to protect both parties' expectations.

Representations

Seller and buyer representations about ownership, authority, liens, and compliance with condominium or HOA rules; accurate reps reduce post-closing indemnity claims and title insurance exceptions.

Closing Procedures

Details escrow instructions, document deliverables, prorations, tax statements, funds wiring, and the mechanics for recording the deed or membership transfer on closing day to ensure clear title and lender compliance.

Default & Remedies

Defines events of default, cure periods, liquidated damages, specific performance rights, and how costs and attorney fees are allocated if enforcement or litigation becomes necessary.

Examples: How Agreements Work in Practice

Real-world examples show how Unit Purchase Agreements resolve common issues like HOA contingencies and financing failures.

Condo Purchase — Buyer Protection

A buyer included a strict inspection contingency and specific repair credits to address water intrusion identified in the association report.

Inspection led to negotiated credits.
Because inspection deadlines, cure periods, and HOA disclosure schedules were explicit, the parties avoided litigation; escrow adjusted prorations accurately and closing proceeded within the revised timeline without title objections or further escrow holds.

LLC Unit Transfer — Seller Warranty

A seller transferring membership units disclosed pending liens and provided a seller warranty requiring cure before transfer to avoid post-closing liability.

Buyer delayed closing until liens cleared.
The agreement's representation and indemnity clauses required the seller to resolve encumbrances; clear deadlines and escrow holdbacks protected the buyer, preventing costly litigation and ensuring marketable title at recording and lender acceptance.

Practical Drafting and Execution Tips

Practical tips for drafting and executing a Unit Purchase Agreement that minimize disputes, speed closing, and align with title and lender requirements.

Include exact deed legal description

Copy the legal description exactly from the seller's current deed or county records; small errors can cause title exceptions, recording rejections, and delay mortgage funding. Verify parcel ID and unit number with the title company before signing.

Define and calendar contingency deadlines

Spell out the exact date and time each contingency expires and the notice procedure for acceptance or termination; include time zones and methods of delivery to avoid disputes over late notices or ambiguous communications.

Attach HOA and resale documents

Require that the seller deliver current HOA bylaws, financial statements, resale certificates, and any special assessment notices as attachments. Specify cure or termination rights if the documents reveal material liabilities or restrictions not previously disclosed.

Coordinate with lender and title

Notify lender and title company early with complete contract and exhibits to allow underwriting, title clearance, and payoff estimates; early coordination reduces last-minute conditions and helps ensure funds and documents are ready at closing.

Baseline eSignature Pricing and Feature Comparison

Baseline pricing and core feature comparison for common eSignature vendors used to execute Unit Purchase Agreements across closing workflows.

	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	Varies	Varies	Varies
Bulk Send	Yes	Yes	Yes	Yes	No
Audit Trail	Yes	Yes	Yes	Yes	Yes
HIPAA Compliant	Yes	Yes	Yes	No	No
Envelope Cap	No cap	100 envelopes/user/year	Depends on plan	Depends on plan	Depends on plan

Frequently Asked Questions and Practical Answers

[INTRO] Answers to common questions about execution, notarization, electronic signatures, and post-closing corrections for Unit Purchase Agreements.

Need help? Contact support

Is an electronic signature acceptable?
Yes. Under the federal ESIGN Act (15 U.S.C. ch. 96) and state UETA enactments, electronic signatures and records are generally legally equivalent to handwritten signatures for contracts like a Unit Purchase Agreement, except where state law specifically excludes the transaction type.
Are notarization or witnesses required?
Notarization of deeds or acknowledgements is required for recording in all U.S. jurisdictions; some states also require witnesses for deeds or transfers (for example, Florida commonly requires two witnesses). Check the county recorder and state notary statutes for exact rules.
What if the legal description is wrong?
An incorrect legal description can prevent recording and create title defects. Corrective instruments or affidavits may be required; title companies often require resolution before funding. Consult title counsel and consider escrow holdbacks until accurate records are filed.
How do I correct signed errors?
Minor typographical errors can be fixed by mutual amendment signed by all parties; material changes require a written amendment or new agreement. Document the change, date the amendment, and retain signatures and initialed pages for audit and recording purposes.
Who pays closing costs and fees?
The agreement should specify allocation of closing costs, prorations, and transfer taxes. Typical practice varies by market; lenders and investors may impose payoff instructions. Explicit clauses prevent post-closing disputes over fees and settlement accounting.
Can the agreement be canceled?
Cancellation is governed by the contract's termination clauses and valid contingency exercises. If contingencies are timely removed or cures are insufficient, the non-breaching party may pursue remedies including deposit forfeiture or specific performance under state law.

Key Milestones from Offer to Recorded Transfer

Major milestones during a Unit Purchase Agreement lead from offer to recorded transfer and final funding.

01

Offer Accepted

Earnest money deposit and contingencies triggered.

02

Inspection Period

Buyer completes inspections and submits repair requests.

03

Loan Approval

Lender issues commitment or buyer cancels per contingency.

04

Closing & Recording

Funds wired, deed recorded, and ownership transfers.

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