Real Estate Purchase Agreement Sample: What to Include and How to Use One
A real estate purchase agreement sample gives you a concrete starting point when drafting or reviewing a property transaction. Whether you’re a first-time buyer or an experienced investor, understanding the structure of a simple real estate purchase agreement protects you from costly gaps in coverage.
This guide covers the core sections of a basic real estate contract, explains where to find a simple real estate purchase agreement form, and points you toward trusted sources for a free printable real estate purchase agreement you can customize for your situation.
What a Purchase Agreement Actually Does
Binding Both Parties
A purchase agreement creates legally enforceable obligations on both buyer and seller. Once both parties sign, the contract governs the timeline, price, and conditions of the sale. Verbal agreements carry no weight once ink is on paper.
Your real estate purchase agreement sample should always name all parties clearly, using full legal names rather than nicknames or abbreviations. Errors in names are among the most common reasons contracts face delays at closing.
Contingencies That Protect You
Most basic real estate contracts include inspection, financing, and appraisal contingencies. These clauses allow either party to exit the agreement without penalty if certain conditions are not met within specified timeframes, typically 7 to 21 days.
A financing contingency is especially important for buyers who are not paying cash. If your lender declines the loan, this clause lets you recover your earnest money deposit rather than forfeiting it to the seller.
Finding a Simple Real Estate Purchase Agreement Form
State-Specific Templates
Real estate law varies significantly by state. A simple real estate purchase agreement form that works in Texas may not meet requirements in California or New York. Look for templates issued by your state’s real estate commission or bar association.
Many state realtors’ associations offer free printable real estate purchase agreement templates for members. Non-members can often purchase them for a modest fee, which is worth the cost for the legal certainty it provides.
What to Customize Before Signing
Every real estate purchase agreement sample you find online is a starting point, not a finished document. You will need to add the specific property address, the agreed purchase price, the closing date, and any personal property included in the sale.
Review all contingency deadlines carefully. Deadlines that are too short can trap you in a contract you cannot exit even if problems arise during inspection.
When to Involve a Real Estate Attorney
A simple real estate purchase agreement is sufficient for straightforward residential transactions in many states. But complex deals, including those with seller financing, lease-back arrangements, or multiple parcels, call for attorney review.
An attorney can also verify that a free printable real estate purchase agreement template you found online actually complies with your state’s current statutes. Laws change, and templates found on generic websites may not have been updated in years.
Bottom line: start with a reliable real estate purchase agreement sample, customize it for your state and transaction, and get professional eyes on anything unusual before both parties sign.