Purchase Agreement Templates from CocoSign

Here are 20+ free ready-to-use purchase agreement templates. Simply browse through CocoSign’s library and download any templates you want, completely free.

  • Purchase Agreement Addendum

    Purchase Agreement Addendum
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    A purchase agreement addendum is used in real estate transactions when they need to change one of the original terms of the agreement or add one that hasn’t been included. The real estate addendum form can also mention how to handle certain contingencies, in case one of the original terms is broken.

  • Arizona Real Estate Purchase Agreement

    Arizona Real Estate Purchase Agreement
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    Do you want to create an Arizona real estate purchase agreement? Download the real estate purchase agreement template for free here at CocoSign. Use these agreement templates to create any legal document you want.

  • California Residential Purchase Agreement

    California Residential Purchase Agreement
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    The California residential purchase agreement is the document you need to issue if you want to avoid any problems or unwanted changes until you close the deal on the property. It sets all the relevant terms and the penalties for not respecting the agreement.

  • Commercial Real Estate Purchase Agreement

    Commercial Real Estate Purchase Agreement
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    Do you want to create a commercial real estate purchase agreement? Here is a free to download commercial real estate purchase agreement that you can use as a buyer, seller, or real estate broker.

  • Earnest Money Receipt

    Earnest Money Receipt
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    Do you want to use an earnest money receipt? You can download the earnest money deposit receipt template completely free here at CocoSign. Simply print this template and fill it directly whenever you require it.

  • Florida Real Estate Purchase Agreement

    Florida Real Estate Purchase Agreement
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    The transaction of a real estate property in Florida implies many essential aspects. The best thing to do is to write them down in a formal and legally binding document. The Florida real estate purchase agreement covers all the relevant aspects and makes sure nobody loses time and money if the deal isn’t closed.

  • Georgia Real Estate Purchase Agreement

    Georgia Real Estate Purchase Agreement
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    Georgia real estate purchase agreement is written by the buyer to mention all the terms and conditions before the transfer of title. However, the whole process can be quite troublesome in case you are not completely aware of this law. To make it easy for you, CocoSign provides free Georgia real estate purchase agreement templates.

  • Indiana Real Estate Purchase Agreement

    Indiana Real Estate Purchase Agreement
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    The Indiana real estate purchase agreement includes all the essential elements of a real estate transaction. It gives both the buyer and the seller a chance to have their interests protected in a legally binding document.

  • Massachusetts Purchase and Sale Agreement

    Massachusetts Purchase and Sale Agreement
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    Searching for Massachusetts purchase and sale agreement? Download the free agreement template from CocoSIgn and use it to create your own agreement instantly. Download, print, edit, or modify it completely free.

  • Michigan Real Estate Purchase Agreement

    Michigan Real Estate Purchase Agreement
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    Michigan real estate purchase agreement has gained popularity as the best way to register all the terms and conditions legally for the transfer of title. CocoSign offers multiple free purchase agreement templates to make the whole process a lot easier for you.

  • Missouri Real Estate Purchase Agreement

    Missouri Real Estate Purchase Agreement
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    The Missouri real estate purchase agreement is a formal document used to legally transfer ownership of residential property. You can get a free Missouri real estate purchase contract at CocoSign. Our website has a lot more to offer.

  • North Carolina Real Estate Purchase Agreement

    North Carolina Real Estate Purchase Agreement
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    The NC real estate contract is the document people use in North Carolina to set the terms of a real estate transaction. It includes the demands and offers of both sides and is aimed at finding common ground for closing the deal.

View More Templates

Real estate transactions for residential properties have two stages. Before closing the deal with a deed, the two parties enter a real estate purchase agreement. It’s the document that outlines the terms of the deal, including the price and all the relevant information.

The purchase agreement is not just an informal sketch of the future deed; it’s a legally binding contract that can include provisions in case one of the parties decides to back out of the deal. It’s a useful tool, given that the real estate field is fluctuant and contingencies happen quite often.

What Is a Purchase Agreement?

The purchase agreement form is a binding legal document that sets the terms of a real estate transaction. Since prices are usually high in real estate, a verbal agreement isn’t reliable enough. So, to avoid any conflict between the seller and the buyer, all the relevant aspects are mentioned in a real estate purchase agreement.

To make sure they are dealing with serious buyers, the seller can ask for a deposit, usually 1 to 3% of the price. That deposit is mentioned in the purchase agreement, and it isn’t refundable in case the buyer decides to drop out of the transaction. It’s a type of real estate contract that provides security for both parties and sets the ground for the final document that closes the deal.

Types of Purchase Agreements

There are three significant types of purchase agreements:

  • The residential real estate purchase agreement – it’s one of the house for sale by owner forms, and its written proof of the terms of the future transaction and of the fact that both parties agree to the terms and intend to close the deal.
  • The commercial real estate purchase agreement – it has the same utility, but it’s issued for non-residential pieces of property.
  • The stock purchase agreement – this purchase agreement is used when a party wants to buy a part of or an entire business entity.

When Do You Need a Purchase Agreement and Why?

Anyone who wants to buy a piece of real estate should issue a purchase agreement. These transactions don’t always run smoothly, and problems, delays, and misunderstandings can appear along the way. A real estate purchase agreement keeps things simple and straightforward. All the relevant information is entered from the start, as well as the way any contingencies will be handled.

The real estate contract is beneficial both to the buyer and the seller of the real estate property; it clearly states the legal right of each party, as well as their duties before closing the deal. It can be used for many types of properties, as long as the construction is complete.

Many misunderstandings and problems may appear, but the most common one is the buyer not being able to get financing for the purchase. In this case, they lose the deposit, if one was made. The seller is left without a buyer, but they get some retribution for the time they wasted.

What to Include in a Purchase Agreement?

The real estate purchase agreement is a comprehensive document that includes essential information and must be issued with a lot of attention. It sets the terms of the transaction and the penalties for breaking the deal, so you must make sure it’s written correctly, with a real estate for sale by owner contract template.

You can download a free printable real estate purchase agreement PDF that we created at CocoSign to make sure your document is well-structured and clear. Regardless of how you choose to write it, make sure the following elements are included:

  • The date when the purchase agreement becomes effective
  • The name and address of both the buyer and the seller
  • The address and legal description of the property
  • Personal property included in the transaction (AC units, for example)
  • The price, or earnest money
  • Mention if the buyer wants to submit a cash payment
  • If the buyer intends to use bank financing to buy the property, the purchase agreement must state that
  • If the seller is the one providing financing, it should be clearly mentioned
  • Mention which party will pay the closing costs, and the deadline
  • The property condition must be clearly stated; the buyer can bring professional to inspect it
  • Set the date by which the transaction must be completed, and the expiration date of the agreement
  • Disclosures, if there are any
  • The date and signatures of both parties

Conclusion

A purchase agreement is essential for any real estate transaction in any state. It contains all the relevant information and sets the ground for the final document that closes the deal. A real estate contract also makes sure neither party loses time or money and that contingencies are avoided or easily handled.

If you need to issue a real estate purchase agreement, try the purchase agreement form we have at CocoSigns. We have a lot of excellent templates for all the documents you may need to write, and they are all user friendly and accurate.

Purchase Agreement Templates FAQ

What is the assumption of mortgage?

The assumption of mortgage means that the buyer takes over the seller’s liability as far as the mortgage is concerned and that they accept to pay any remaining amount.

What happens if we don’t use a purchase agreement?

In the absence of a real estate purchase agreement, both parties can lose time, the seller can lose money, and the buyer can lose the property if it turns out the seller cannot provide the title.

What does escrow mean?

Escrow is a third party that has to be neutral and holds the deposit until the transaction is completed.

What is the appraisal contingency?

It’s the term of the purchase agreement that helps the buyer back out of the deal if a licensed appraiser decides that the actual price of the real estate property is lower than what the seller is demanding.

What is the lead-based paint disclosure?

If you want to sell a house built before 1978, you are obligated to provide this disclosure, mentioning any possible health risks and giving the buyer a chance to conduct an inspection.

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