Real Estate Purchase Agreement

Simply complete the Real Estate Purchase Agreement form below then click on View Results to see your completed contract.

LawDepot's Real Estate Purchase Agreement:

Is perfect for the purchase or sale of a new or used home.
Includes additional disclosure forms, if required, such as:
• The seller's real estate disclosure form.
• A lead paint disclosure form.
• Forms for a variety of financing options.
Includes clauses to protect the parties, and help clarify the transaction.
Is a convenient, flexible, and easy-to-use Real Estate Purchase Agreement.

If the home is not completely built, is a condominium, or is an unimproved propertyLand without significant buildings, structures, or any other improvements., please use other contracts specifically tailored for those transactions.

We regularly maintain this contract. Last Modified: June 2008

Real Estate Purchase Agreement Details

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This software has the flexibility to let you quickly create the Real Estate Purchase/Sale Agreement you want. It does this by providing many options with appropriate defaults.

In addition to the Real Estate Purchase Agreement, additional addenda that you require for this transaction will be created based your answers.

Leave an answer empty if you want a blank line in place of the answer in order to complete it after printing, but before it is executed.

Select Region:

This contract is under construction. Please check back for updates.

Real Estate Purchase Agreement (completed construction) is used where:

the Buyer is purchasing a new home that has been completed before the Buyer takes possession or the Contract closes; or
the Buyer is purchasing a previously occupied home.

Seller Information

Number of Sellers:

Seller
Name:
Seller Type:
Seller Address:		(e.g. Street, City, State, ZIP Code)
Phone:
Fax:

Buyer Information

Number of Buyers:

Buyer
Name:
Buyer Type:
Buyer Address:		(e.g. Street, City, State, ZIP Code)
Phone:
Fax:

Property Information

Legal description: Q. Where can I obtain the legal land description of my property? A. You should be able to obtain the legal land description of your property from the County Recorder's office (may also be called County Clerk or Register of Deeds office). The legal land description of your property may also be found on your land title, in tax assessment information, and in your mortgage agreement.

Lot:
Block:
Addition:
City:
County:		(e.g. Orange)

Municipal Address:

(e.g. Street, City, State, ZIP Code)

Further Description:

Property is subject to a lease?

Yes

Certain fixtures are excluded from the purchase?

Q. What are fixtures? A. Fixtures are items of personal property that have been attached to land or buildings in such a way that they cannot be removed without damaging the item, land or building. As a Seller, you may choose to exclude some fixtures because they have sentimental value, they are hard to replace or for some other reason. Examples of fixtures usually include chandeliers, custom-made drapes, window blinds, built-in appliances, built-in cupboards, light fittings, and wall-to-wall carpeting. Q. What happens if I forget to include in the list of excluded items a fixture that I want to exclude from the sale of my property? A. If the item has become affixed, or permanently joined, to the property, it is assumed to be included in the sale unless specifically excluded in the purchasing agreement.

Fixtures are items/chattels that are generally bound to the home and are not easily removable (e.g. chandelier, garbage disposal, etc.). List any fixtures that are excluded from the sale. The Seller may sell excluded items to the Buyer on a separate bill of sale. Click here to purchase a bill of sale.

List excluded items:

(e.g. chandelier, garbage disposal)

Sales Price and Financing
Sales Price: $
	The price that is being paid for the house (e.g. 150,000.00).
Financing:
	Financing from a bank or private source other than the Seller Q. What is a promissory note? A. A promissory note is a legal document evidencing that the borrower will repay a loan to the lender under the terms agreed upon in the contract.

Loan amount (excluding finding fees and insurance premiums):	$
	(e.g. 100,000.00)

Contract is subject to Buyer being approved for financing:

Yes

Earnest Money

Amount of earnest money on effective date:	Q. What is earnest money? A. Earnest money is the deposit that the Buyer is required to provide to the Seller up front, in order to convey that the Buyer is serious about purchasing the property. It is the cash deposit paid by the prospective Buyer to the Seller, as evidence of good faith to complete the purchase transaction. This deposit will be credited to the sales price upon closing but will be forfeited if the Buyer defaults. It ensures that the Buyer is serious about obtaining the necessary financing and fulfilling the other conditions necessary to purchase the house. Without earnest money, some buyers may not use their best efforts to obtain financing and may still be looking for a better deal on other houses. Often, if the Buyer does not proceed with the transaction, the Seller can keep the earnest money as damages.
Earnest money is the cash deposit paid by the prospective Buyer to the Seller, as evidence of good faith to complete the purchase transaction. This deposit will be credited to the sale price upon closing but will be forfeited if the Buyer defaults (e.g. $1,000.00).
Number of days to deliver earnest money after effective date:
The effective date is the date on which both parties sign the contract. If the parties sign separately, the date the last person signs is the effective date. Please indicate the maximum number of days after this date that the earnest money must be given (e.g. three, five business days).

Name of escrow agent:	Q. What is escrow? A. Escrow refers to the situation where property is held by a neutral third party (the escrow agent) until closing (when all the terms of the contract have been satisfied). At closing this third party transfers title to the property to the Buyer.
A person holding documents and funds in a transfer of real property, acting for both parties pursuant to instructions. Typically, the agent is a person (commonly an attorney), escrow company or title company, depending on local practice.
Address of escrow agent:
	(e.g. Street, City, State, ZIP Code)

Title Policy & Survey

Title policy paid for by:

Seller

Buyer

Q. What is Title Insurance? A. Title insurance is a form of insurance in which the insurer agrees to indemnify the insured party for any loss suffered that results from a defect in the title to the property that was unknown to the buyer at the time of the sale. A title policy of insurance insures the homebuyer against any encumbrances that may affect the title to their property. The policy is required by most institutional lenders in order to get a mortgage and will pay the value of the mortgage in the event that there is a defect in the title that voids the buyers title to the property. It is an alternative to getting a municipal compliance certificate or real property report.

A Title Policy insures the Buyer against any encumbrances that may be on the title to their property. It will compensate the Buyer if the title is defective. Please consult a local insurance agent for more information.
Name of title company issuing title policy:
Provision of survey: Q. As a Buyer, should I request a new survey of the Property? A. Even if the Seller can provide a copy of a survey that was completed within the past year, you should still request a new survey in case there has been a change in the Property since the last survey was completed. Alternatively, you could request a declaration that there have been no additions to the envelopes of the buildings on the Property.
A survey shows the location of improvements, easements, rights of way, encroachments, and other physical features of the property. It is done to ensure the boundaries of the property are properly described in the Sales Agreement.

Who pays if survey is unacceptable to lender or title company?

Number of days in which Buyer may object to a defect in the title after receipt of commitment, exception documents and survey: (e.g. three, five business days)
A commitment is a promise by an insurance company to issue a title insurance policy on a particular piece of property. Exception documents are items evidencing matters affecting title to the property which are excluded from coverage of the title insurance policy.

Buyer may object if commitment, exception documents or survey prevents certain uses or activities:

List uses or activities not to be prohibited:

(e.g. planting trees, building additions onto the Property)

Purchaser may object if commitment, exception documents or survey prevent certain use or activities:

List or use or activities not to be prohibited:

Deed Tax

The statutory Deed Tax:

Amount of Tax:	$
	(e.g. $100.00)

Conveyance Tax

Who will complete the Conveyance Tax Certificate? Q. What is the Conveyance Tax Certificate? A. Most U.S. states collect a tax for every transfer of real estate that is registered. Some states also require additional documentation to accompany the payment of the real estate transfer tax.

Buyer

Seller

Real Estate Transfer Tax Q. What is a Real Estate Transfer Tax? A. Most U.S. states collect a tax for every transfer of real estate that is registered. Some states also require additional documentation to accompany the payment of the real estate transfer tax.

Who will pay the Real Estate Transfer Tax?

Is the Property exempt form the real estate transfer tax? YesNo

Real Estate Transfer Fee and Return

Is this Property Transfer exempt from the Transfer Fee? YesNo

Exemption from the real estate transfer fee applies in these cases

What subsection provides exemption to this transfer?
The exemptions range in number from 1-21.

Under Wisconsin law, a Real Estate Transfer Fee must be paid at the time the transfer is recorded, unless the conveyance is exempt under Wisconsin Statutes 77.25

Property Condition

Is the Property brand new?

Yes

This contract is only for new home that has been completed before the Buyer takes possession or the Contract closes

Yes

Has the Buyer expressed a written intent to reside in the Premises?

Yes

The District of Columbia Code requires the Seller to provide a disclosure statement prior to the execution of the Sales Agreement only if the Buyer has expressed a written intent to reside on the Property after the sale is complete.

Will the Seller choose to provide an optional disclosure statement?

Yes

If the Buyer has not expressed a written intent to reside on the Property, then the Seller is not required to provide a disclosure statement.

Yes

Q. What should I disclose to the Buyer? A. Each state has different requirements as to what should be disclosed. To protect yourself, in addition to completing the state-specific disclosure form provided with the purchase agreement, you should disclose any material defects affecting the Property of which you are aware.

Yes

Select topics to disclose for the residential property disclosure statement:

Insulation Provide disclosure relating to the insulation of the Property
Additional and County/Local Law

List Disclosure:

Select topics to disclose for the residential property disclosure statement:

The topics listed below concern facts about the Property that the Seller is not required to disclose, even if there isn't a broker involved.

Additional and County/Local Law

List Disclosure:

Is this the first sale of the dwelling?

Yes

Insulation
All information regarding the insulation can be obtained from the manufacturer of the insulation.
Exterior walls of living area are insulated with what material?
How many inches thick is the insulation?		(e.g. four)
R-value of insulation: Q. What is an R-value? A. The R-value of a building material is the resistance the material has to the movement of heat. The higher the R-value the better your house will be insulated against the cold or the heat. The R-value of a material can be found by looking on the packaging or by phoning the manufacturer.
All stated R-Values are based on information provided by the manufacturer of the insulation.
Walls in other areas are insulated with what material?
How many inches thick is the insulation?		(e.g. four)
R value of insulation:
All stated R-Values are based on information provided by the manufacturer of the insulation.
Ceiling is insulated with what material?
How many inches thick is the insulation?		(e.g. four)
R value of insulation:
All stated R-Values are based on information provided by the manufacturer of the insulation.
Floors are insulated with what material?
How many inches thick is the insulation?		(e.g. four)
R value of insulation:
All stated R-Values are based on information provided by the manufacturer of the insulation.
Other insulated areas are insulated with what material?
How many inches thick is the insulation?		(e.g. four)
R value of insulation:
All stated R-Values are based on information provided by the manufacturer of the insulation.

Was the property built prior to 1960?

Yes

Seller to provide residential property disclosure statement?

Yes

The Minnesota Statutes require certain facts pertaining to the Property to be disclosed by the Seller, unless the Buyer and Seller have agreed in writing to waive all disclosures. However, it is recommended that the Seller should disclose all known facts which would materially affect the value of the Property and to consult a local real estate attorney as non-disclosure may subject the Seller to civil liability.

Are there specific County/Local Law Disclosures to be made by the Seller?

Yes

List Disclosure:

Is the Property located in Anne Arundel County?

Yes

Is the Property located in Prince George's County?

Yes

Does the sale of the Property create a subdivision for which a plat of subdivision has not yet been recorded with the local county recorder or clerk?

Yes

Property subject to mandatory owners' association membership?

Yes

Is the potable water supply from a private well on the Property?

Yes

Property located in unincorporated county?

Yes

Is the land subdivided?

Yes

Property is located in what county?

Property located near an airport?

Yes

Type of airport?

Military

Public

Property been subject to soil remediation?

Yes

Soil remediation attained standards for residential uses?

Yes