Key Takeaways

  • A sample real estate contract demonstrates the standard structure and clauses used in property purchase agreements, including financing terms, contingencies, title conditions, and closing procedures.
  • Common forms like the One to Four Family Residential Contract (Resale) or corporate real estate sales contracts set clear expectations for both buyers and sellers and comply with state laws.
  • Essential clauses cover the purchase price, deposit, possession date, title evidence, inspection rights, and default remedies.
  • Real estate contracts vary by property type (residential, commercial, or land) and by jurisdiction, but they all aim to protect both parties through detailed written terms.
  • Reviewing and customizing a sample real estate contract with legal counsel ensures that all obligations, contingencies, and local legal requirements are met.

Reviewing sample real estate contracts will let you see how complicated they are. While real estate purchases are common, the stakes for both the buyer and seller are high. That is why it is important to state expectation, duties, and provisions in a contract. 

Anyone purchasing real property needs a real estate purchase agreement. Here are a few scenarios:

  • A seller wants to sell privately.
  • The property is owner-financed.
  • You are selling a property to a family member.
  • The parties involved want to express their legal rights.
  • You need to outline buyer and seller obligations before you transfer the title.

What Is a Real Estate Purchase Agreement?

Purchasing or selling real property, such as a home, land, or a condo, requires a written agreement. This agreement, known as a real estate purchase agreement, is the binding document for a real estate deal. The buyer makes an offer, and in turn, the seller decides whether to accept or decline the offer. While this document does not transfer the title to the property, it does outline what the buyer and seller must do before title transfer occurs.

Because there is plenty of money invested in these deals, you must use the proper agreement in order to avoid confusion or losses. State law requires that a sales contract include a real estate agreement. This is because real estate sales contracts fall under the statute of frauds and require a written agreement.

Why Do I Need a Purchase Contract?

There are both benefits and mandates associated with a real estate agreement:

  • A real estate contract is required anytime you purchase real property. 
  • The statute of frauds is the law requiring a real estate purchase in the U.S. 
  • Lease purchase agreement contracts also fall under this statute. 
  • You are less susceptible to fraud or mistakes when you put a land purchase or lease agreement contract in writing.

The Basic Elements of a Real Estate Contract

  • Buyer and seller details — include the buyer's and seller's full names and contact information.
  • Property details — the property's address and a legal description of the land (most likely done by a licensed surveyor). It is important that you be able to identify the property's location.
  • Purchase price — the price of the property after adding or subtracting any fees, deposits, or adjustments.
  • Representations and warranties — the seller's promises and assumptions regarding the property. These are legal assurances to the buyer.
  • Financing — states how the buyer is purchasing the property (e.g. buyer financing, owner financing, assume the seller's mortgage, etc.).
  • Contingencies — the conditions that must be met before the purchase can happen.
  • Title insurance — must be bought by one of the parties in case title issues come up sometime in the future.
  • Closing and possessions dates — determine when the property will be legally transferred to the buyer.
  • Lead-based paint disclosure form — required if the seller's home was built before 1978.
  • Dispute resolution clause — dictates the way the parties resolve any disputes.
  • Option to terminate clause — states the time period the buyer has to back out of the contract. The seller can request a fee for allowing the buyer to back out of the purchase deal. 
  • Home inspection clause — outlines the period of time the buyer has to get a home inspection.
  • Closing deliverables  — the date that all documents will be transferred to the right party during closing.
  • Closing costs  — the sum of all fees associated with closing or finalizing the sale.
  • Risk of loss clause — states who is liable if there is damage done to the property between contract initiation date and closing date.
  • Real estate taxes amount — the total taxes due on the land, the structures on it, and anything else permanently attached to the land.

Real estate agreements are "messy" by nature. Besides the buyer and seller, there are plenty of people involved like lawyers, contractors, etc. Check out samples of real estate contract to determine what you may need in your contract deal.

Types of Sample Real Estate Contracts

There are several forms of sample real estate contracts used across different property transactions, each suited for a particular type of sale or jurisdiction. Understanding the distinctions helps buyers and sellers choose the right template.

  • Residential Purchase Agreement: Used for homes, condos, and small multifamily properties. For example, Texas uses the One to Four Family Residential Contract (Resale) which outlines financing terms, property condition, and inspection contingencies.
  • Commercial Real Estate Contract: Covers sales of business properties such as office buildings or warehouses. These often include additional clauses for environmental assessments, zoning compliance, and tenant leases.
  • Vacant Land Agreement: Used when selling undeveloped property and often includes contingencies for zoning, surveys, and utility access.
  • Installment or Owner-Financed Agreement: Outlines the payment plan when the seller finances the purchase directly.
  • Corporate or Institutional Sales Contracts: Found in SEC filings, such as those between corporate entities like Estes Express Lines, which include detailed sections on deposits, title insurance, possession, and escrow handling.

Each type of real estate contract shares core elements—identifying the parties, defining the property, and establishing price and closing terms—but differs in disclosures, contingencies, and legal complexity.

Key Clauses Found in Sample Real Estate Contracts

A sample real estate contract typically includes standardized clauses that guide the transaction and protect both parties’ interests:

  1. Purchase Price and Deposit – Specifies the total price and any earnest money deposit held by an escrow agent until closing.
  2. Possession and Closing Date – Determines when the buyer can take possession and the conditions that must be met before title transfer.
  3. Financing Terms – States whether the buyer will use cash, conventional financing, or seller financing, including conditions for loan approval.
  4. Title and Escrow – Requires the seller to provide clear title and describes how escrow funds and documents are managed.
  5. Property Condition and Inspection – Gives the buyer the right to inspect the property and request repairs or terminate the deal if major issues arise.
  6. Disclosures – Federal and state laws may require disclosures for lead-based paint, zoning issues, or prior property damage.
  7. Default and Remedies – Outlines consequences if either party fails to perform, such as forfeiture of the deposit or legal action.
  8. Addenda and Attachments – May include exhibits for financing details, inspection reports, or additional negotiated terms.

These clauses establish the transaction’s legal enforceability and minimize misunderstandings between buyer and seller.

Using Templates and Sample Contracts Effectively

A sample real estate contract serves as a useful starting point, but it should be adapted to meet specific transaction details and state requirements. Templates from reputable sources like PandaDoc, real estate commissions, or state bar associations often comply with current regulations and include all required disclosures.

When using a sample or template:

  • Verify State-Specific Requirements: Each state’s real estate commission (e.g., TREC in Texas) issues standard forms with mandatory language for certain property types.
  • Customize Terms: Add or remove clauses to fit the transaction—such as special conditions for financing, repairs, or tenancy agreements.
  • Seek Legal Review: Even standardized contracts can omit critical protections, so consulting an attorney before signing ensures compliance with local law.
  • Keep Signed Copies: Maintain digital and physical records of all signed documents, amendments, and correspondence related to the transaction.

If you’re unsure how to modify a sample real estate contract, you can find and hire a qualified real estate attorney through UpCounsel’s marketplace, which connects clients with experienced lawyers for contract drafting and review.

Frequently Asked Questions

1. What is a sample real estate contract used for?

A sample real estate contract shows how a property sale agreement is structured, helping buyers and sellers understand necessary clauses and state requirements before drafting their own.

2. Is a real estate contract legally binding?

Yes. Once both parties sign and consideration is exchanged, it becomes a legally binding agreement enforceable under state contract law.

3. Can I write my own real estate contract?

You can, but it’s risky without legal expertise. Using a verified template or attorney-reviewed form ensures compliance with state statutes and protects your interests.

4. What should I check before signing a real estate contract?

Confirm the property description, purchase price, financing terms, inspection rights, and all contingencies are accurate. Seek legal advice before signing.

5. Do I need an attorney to review a real estate contract?

It’s strongly recommended. A real estate attorney can identify unfavorable terms, ensure local legal compliance, and safeguard your rights in complex transactions.

If you need help with cooperative contracts, you can post your legal need on UpCounsel's marketplace. UpCounsel accepts only the top 5 percent of lawyers to its site. Lawyers on UpCounsel come from law schools such as Harvard Law and Yale Law and average 14 years of legal experience, including work with or on behalf of companies like Google, Menlo Ventures, and Airbnb.