Residential Purchase Contract for the United States

Residential Purchase Contract Template for United States

A Residential Purchase Contract is a legally binding agreement used in the United States for the sale and purchase of residential real estate. This document outlines all terms and conditions of the property transfer, including purchase price, closing conditions, contingencies, and obligations of both parties. It complies with federal regulations such as RESPA and state-specific real estate laws, incorporating required disclosures and protection mechanisms for both buyers and sellers.

Your data doesn't train Genie's AI

You keep IP ownership of your information

Generate a Bespoke Document

1. Select your governing law:

2. Enter your key requirements:

3. Create your document to edit, review or download

Download a Standard Template

Get our United States-compliant Residential Purchase Contract

4.6 / 5

4.8 / 5

Alternatively: Run an advanced review of an existing
Residential Purchase Contract

Let Genie AI's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.

Upload your Doc

What is a Residential Purchase Contract?

The Residential Purchase Contract serves as the primary legal instrument for residential real estate transactions in the United States. It is essential when any residential property is being bought or sold, whether it's a single-family home, condominium, or cooperative unit. This contract type includes critical elements such as property description, purchase price, financing terms, inspection rights, and closing conditions. It must comply with both federal regulations and state-specific requirements, often incorporating mandatory disclosures and contingencies to protect all parties involved.

What sections should be included in a Residential Purchase Contract?

1. Parties: Identification of buyer and seller with complete legal names and addresses

2. Background: Context of the transaction and property identification

3. Definitions: Key terms used throughout the contract

4. Property Description: Detailed description of the property being sold, including legal description

5. Purchase Price: Amount and payment terms

6. Closing Date: Specified date for completion of transaction

7. Title and Deed: Terms regarding transfer of ownership

8. Representations and Warranties: Statements of fact by both parties

What sections are optional to include in a Residential Purchase Contract?

1. Financing Contingency: Terms related to buyer obtaining financing - include when purchase depends on buyer securing a mortgage

2. Inspection Contingency: Terms for property inspection and related rights - include when buyer wants right to inspect before finalizing

3. Sale of Existing Home Contingency: Conditions related to buyer's need to sell current home - include when buyer needs to sell existing property first

What schedules should be included in a Residential Purchase Contract?

1. Property Disclosure Statement: Detailed disclosure of property condition and known issues

2. Lead-Based Paint Disclosure: Required disclosure for homes built before 1978

3. Inventory of Included Items: List of fixtures and personal property included in sale

4. Title Search Results: Documentation of property ownership and encumbrances

5. Survey Documents: Property boundaries and improvements

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Cost

Free to use

Relevant legal definitions

Clauses

Relevant Industries

Real Estate
Banking
Insurance
Legal Services

Relevant Teams

Legal
Real Estate Operations
Mortgage Operations
Title and Escrow
Compliance

Relevant Roles

Real Estate Agent
Real Estate Attorney
Mortgage Loan Officer
Title Officer
Property Manager

Industries

Truth in Lending Act (TILA): Federal law requiring disclosure of credit terms and standardization of how costs associated with borrowing are calculated and disclosed

Real Estate Settlement Procedures Act (RESPA): Federal law requiring lenders, mortgage brokers, and servicers to provide disclosures regarding real estate transactions and settlement services

Fair Housing Act: Federal law prohibiting discrimination in real estate transactions based on race, color, religion, sex, national origin, familial status, or disability

Interstate Land Sales Full Disclosure Act: Federal law protecting consumers from fraud and abuse in the sale of land, requiring developers to disclose detailed information to buyers

Lead-Based Paint Hazard Reduction Act: Federal law requiring disclosure of known lead-based paint hazards before the sale of houses built before 1978

Americans with Disabilities Act: Federal law ensuring accessibility requirements are met where applicable in real estate transactions

State Property Laws: State-specific laws governing real property rights, transfers, and obligations

State Real Estate Licensing Laws: State-specific regulations governing real estate professional licensing and conduct

State Consumer Protection Laws: State-specific laws protecting consumers in real estate transactions from unfair or deceptive practices

State Disclosure Requirements: State-specific mandatory disclosures about property condition, hazards, and material facts

State Recording and Title Laws: State-specific requirements for recording property transfers and maintaining clear title

State Contract Laws: State-specific laws governing the formation and enforcement of contracts

Local Zoning Laws: Municipal regulations governing property use, development, and restrictions

Municipal Building Codes: Local regulations setting standards for building construction and safety

Local Property Transfer Requirements: City or county-specific requirements for transferring property ownership

Local Tax Regulations: Municipal and county tax requirements related to property transfers and ownership

Homeowners Association Rules: Private community regulations affecting property use and transfer where applicable

State Real Estate Commission Requirements: Regulatory requirements set by state real estate commissions governing transactions

Environmental Regulations: Federal, state, and local environmental protection requirements affecting property transfers

Historic Preservation Laws: Regulations protecting historically significant properties and districts where applicable

Flood Zone Requirements: Federal and state requirements for properties located in designated flood zones

Insurance Requirements: Mandatory insurance requirements for property transfers and ownership

Find the exact document you need

No matches found.

Dog Purchase Agreement

A legally binding contract for dog sales in the United States, outlining purchase terms and conditions while ensuring compliance with state and federal regulations.

How Cambridge United Uses Genie AI to Speed Up Player Signings and Slash Legal Costs

Generate a Bespoke Document

Download a Standard Template

What is a Residential Purchase Contract?

What sections should be included in a Residential Purchase Contract?

What sections are optional to include in a Residential Purchase Contract?

What schedules should be included in a Residential Purchase Contract?

Authors

Alex Denne

Jurisdiction

Publisher

Document Type

Sector

Cost

Find the exact document you need

Dog Purchase Agreement

Equine Sale Contract

Used Car Buy Sell Agreement

Purchase With Reservation Agreement

Car Probate Purchase Agreement

Marine Purchase Agreement

Purchase Agreement Auto

State Price Agreement

Coal Purchase Agreement

Agreement To Sell House

Commercial Real Estate Contract Form

Aircraft Purchase Agreement Fillable

Real Estate Buyers Agreement

Buyers Agreement Car

Software Source Code Purchase Agreement

Option Purchase Contract Car

Letter Of Offer To Purchase

Lease To Buy Land

Land Purchase Advance Agreement

Boat Slip Purchase Agreement

Gas Station Purchase Agreement

Mobile Home Park Purchase Agreement

Real Estate Sales Agreement Form

Semi Truck Purchase Agreement Form

Horse Lease Agreement With Option To Purchase

Truck Purchase Agreement

Intent To Buy Contract

Residential Purchase And Sale Agreement

Property NDA

Contract For Selling A House Privately

Wholesale Product Purchase Agreement

Personal Goodwill Purchase Agreement

Owner To Owner Home Sale Contract

Final Purchase Agreement

As Is Real Estate Contract Form

House Offer Contract

Domain Purchase Agreement

Contract Between Supplier And Buyer

Tractor Purchase Agreement

Residential Resale Real Estate Purchase Contract

Genie’s Security Promise

Your documents are private:

Your documents are protected:

Organizational security:

Templates

Contract Templates

Letter Templates

Policy Templates

Industries

Legal Services

Manufacturing

Construction

Solutions

Use Cases

Company Types

Comparisons

Business Categories

Teams

Information

Generate Legal Docs Free