Residential Purchase Agreement
⏱ Estimated time: 60+ minutes
⚠️ Draft content
This entry is a working draft and hasn't been reviewed by a licensed professional yet. Always use the official source linked below as your authoritative reference.
A purchase agreement is the binding contract that creates the home sale. Once both parties sign it, you're legally committed (subject to whatever contingencies you wrote in). Every state has its own standard residential purchase agreement, usually published by the state real estate commission or the state Realtor association. Use YOUR state's form — not a generic template you found online.
📥 Find your state's official form
Every state publishes its own version of this document. Pick your state below and we'll send you straight to its real estate commission, where you can download the official form.
The non-negotiables every purchase agreement covers
Identification of the parties (full legal names, current addresses)
Description of the property (legal description, not just street address)
Purchase price and how it's paid (cash, financing, both)
Earnest money amount and where it's held
Closing date and possession date
Contingencies (inspection, financing, appraisal, sale of buyer's current home, etc.)
Title and survey requirements
What conveys with the property (appliances, fixtures, window treatments)
Risk of loss (what happens if the house burns down before closing)
Default remedies (what happens if buyer or seller backs out)
The contingencies that protect the buyer
What sellers should never agree to without thinking
Open-ended contingencies with no deadline.
Possession before closing (creates landlord-tenant issues).
Repairs after closing (gone is the leverage to enforce).
Closing dates that depend on the buyer selling their current home.
Releases of earnest money before all contingencies are removed.
Where to find your state's official form
Use the state finder at the top of this page. Most state real estate commissions publish their standard residential purchase agreement for free, or your state Realtor association does. You can also use a real estate attorney to draft a custom contract — typically $300-800.
If you're a buyer or seller in a complicated situation (estate sale, divorce sale, owner financing, contract for deed), don't use a standard form alone. Have an attorney review.
⚠️ Things to watch out for
Commonly-reported issues people run into with this document. Always verify the specifics with your state's official source or a licensed professional.
- •Using a generic 'national' purchase agreement template found online. State forms exist for a reason — your state has specific required disclosures and rights baked in.
- •Signing before reading every line. A purchase agreement is a binding contract.
- •Verbal modifications. If you change anything, write it on the contract and both parties initial it. Verbal side-deals are unenforceable.
- •Skipping the attorney review on anything unusual. A $400 attorney review is the cheapest insurance you'll ever buy.
Last reviewed: 2026-04-09 · Placeholder content — pending review
This entry is informational only — not legal advice. Frula Homes is an informational platform. We point you to official sources; we don't prepare, review, or interpret legal documents, and we're not your attorney or real estate agent. For legal questions specific to your situation, consult a licensed attorney in your state.