Standard Purchase and Sales Agreement

Posted on March 18, 2014 by global

Use to purchase a house on terms.

Standard Purchase and Sales Agreement Version 1.6

Standard Purchase and Sales Agreement (Spanish) Version 1.5

Use to purchase a house with all cash.

Standard Purchase and Sales Agreement – All Cash

Revised 1/2025

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112 Responses to Standard Purchase and Sales Agreement

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  1. William Moskowitz says:
    March 17, 2011 at 4:32 pm

    This is a duplicate message to you, but when i print out the standard purchase and sale agreement, para 8,9 and 10 are incomplete. Please assist.

    Bill Moskowitz

    Reply
    • Nicholas Kouvatsos says:
      March 17, 2011 at 5:08 pm

      I think this is because the document is in Legal Size page format (8 1/2″ x 14″). If you want to print on Letter Size paper, you’ll need to change the Page Size to Letter Size (8 1/2″ x 11).

      Reply
    • Leroy Hogan says:
      December 30, 2014 at 7:54 pm

      I’m Confused. In this contract I didn’t see a portion where It states the contract is assignable to another party. Please assist.

      Reply
      • Hasim Cosovic says:
        March 17, 2015 at 12:00 am

        Leroy, you need to read the contract. It is in the second line on the first page “and assigns of Seller and Buyer”.

        Reply
      • Aaron Anderson says:
        February 22, 2017 at 2:35 pm

        Keep in mind that if a contract does not say that it is NOT assignable, then by default it is assignable.

        Reply
      • Jeff Clayton says:
        November 25, 2024 at 11:25 am

        Hello Leroy,
        My understanding is that if a contract does not prohibit assignment, then it is indeed assignable. In other words: if the contract is silent about assignability, you can assign it.
        Hope this helps you.

        Reply
        • Jeff Clayton says:
          November 25, 2024 at 11:30 am

          And of course, the next logical question is: how does one assign the contract? Answer:
          You fill out the Assignment of Contract form. This is where you are assigning your rights in the contract to another person, usually a rehabber investor, and you are stepping out of the deal. (For a nice fee).

          Reply
    • Curtis Travnick says:
      April 13, 2017 at 2:40 pm

      Since this document is a legal size page I size the page to an 8.5 X 11.

      To do this I went to FILE, PAGE SET UP, and then adjusted the page height to 8.5. Hit OK and then you can save the document in that size in your files for future use as a 8.5″ X 11″ document.

      Reply
    • Anatole Misquita says:
      May 30, 2017 at 10:06 pm

      need to go inside paper settings and change accordingly

      Reply
  2. Teresa Boss says:
    January 26, 2012 at 4:59 am

    I couldn’t get the fillable contract to print after I had filled in the contract. What am I missing here?

    Reply
  3. Heather Olson says:
    January 31, 2012 at 12:26 am

    @Teresa
    As it described in the instructions: “Save As” then type in what you want to name your Agreement. Then print from your saved document. Sometimes it takes patience and reading. Best of luck! Message me directly if you a step by step walk through while you are in front of your laptop, I am happy to help!

    Reply
    • Bruce Moore says:
      April 20, 2012 at 2:24 am

      Heather, Hi Bruce Moore here. I am somewhat of a computer literate.I saved the doc, then when I pull it up, I fill it out and then it prints the empty form. Could it have something to do with using Firefox instead of Internet Explorer? Any help would be appreciated.

      Reply
  4. Cipriano Toledo says:
    March 13, 2012 at 8:51 pm

    Is this one the one you use for ACTS?

    Reply
  5. Ron Alumbaugh says:
    March 17, 2012 at 6:13 am

    thanks

    Reply
  6. DWIGHT GLASCO says:
    March 27, 2012 at 4:55 pm

    is there a sample somewhere of one of these filled out?

    Reply
  7. Mercedes Quintanilla says:
    April 1, 2012 at 7:23 pm

    No, this is the one for Subject To deals only.

    Reply
  8. Bruce Moore says:
    April 20, 2012 at 2:26 am

    I am somewhat of a computer literate.I saved the doc, then when I pull it up, I fill it out and then it prints the empty form. Could it have something to do with using Firefox instead of Internet Explorer? Any help would be appreciated. I have a contract I need to get out and this is really frustrating

    Reply
  9. Cipriano Toledo says:
    April 22, 2012 at 7:41 pm

    ACTs is subject to

    Reply
    • Jeff Clayton says:
      August 21, 2012 at 1:29 pm

      Cipriano,

      I must respectfully disagree.

      ACTS is NOT subject to. What’s the first word in ACTS? Ans: Assignment. Think about it.

      Reply
      • Jeff Clayton says:
        August 25, 2012 at 3:49 pm

        Let me correct myself. I misspoke.

        What I meant to say is that ACTS is not Subject To exclusively, as your post seemed to imply.

        ACTS is assignment your ANY agreement with a Seller to a Buyer for an assignment fee.

        It COULD be Subject To, but most likely will be a lease/option or owner financing agreement.

        Words are important, aren’t they? Good luck.

        Reply
      • Michael Tokar says:
        March 17, 2024 at 3:31 pm

        You guys are both right, an assignment of contract for the rights to a subject to deal makes sense. But im not an attouney so check with yours

        Reply
  10. William Young says:
    June 9, 2012 at 5:35 pm

    Where is the ‘fillable’ form?

    Reply
  11. Betty Toler says:
    June 18, 2012 at 6:34 pm

    This is what I need. Thanks.

    Reply
  12. Jim Parker says:
    June 30, 2012 at 12:34 am

    There is a vast difference between buying a property on a lease/option and actually buying the property subject to an existing mortgage. A subject to deal closes now. An option deal may or may not close, but always in the future.

    Reply
    • Jeff Clayton says:
      August 21, 2012 at 1:32 pm

      You got it right on, Jim. And, with Lease/options you may have to track down the seller to get him/her to sign the deed, etc. when (if) tenant buyer decides to exercise their right to buy. With Subject To or Owner Financing, you have the deed. Seller could disappear, you don’t care.

      Reply
  13. Carlton Lewis says:
    July 15, 2012 at 5:36 pm

    Thanks again for the right forms Ron.

    Reply
  14. Cresencio Mandujano says:
    September 17, 2012 at 12:43 am

    right on Thanks again for the forms Ron.

    Reply
  15. Earl Stacey says:
    October 9, 2012 at 7:15 pm

    yepper

    Reply
  16. John Healey says:
    October 22, 2012 at 3:50 pm

    Thanks agaian to Ron and his team for making these documents available and possible to have.

    Reply
  17. KJ Roberts says:
    November 15, 2012 at 2:20 am

    Like this form a lot

    Reply
  18. J.C. Gutierrez says:
    December 10, 2012 at 4:51 pm

    Is there a reason that the following strike through is on Item #6 in this contract?

    6. Prorations: All taxes, rentals, condominium or association fees, prepaid hazard insurance premiums (if assumed), monthly mortgage insurance premiums and interest on loans will be prorated as of the date of closing.

    Reply
  19. Sean Anderson says:
    December 22, 2012 at 11:01 pm

    Is ok to fill these out on the computer when making offers or does it need to be hand written when filling it out?

    Reply
  20. KJ Roberts says:
    January 13, 2013 at 10:38 pm

    This is a great resource. I got to use it yesterday! Or at least my son did. Just as good as any other real estate contract out there!

    Reply
  21. Bac Nguyen says:
    January 14, 2013 at 5:52 pm

    Sweet. Thanks.

    Reply
  22. John Rogers says:
    January 16, 2013 at 6:08 am

    Thanks for the informative Gold Members DVD explaining how to use some of these forms. The explanation on when to use particular forms and how to fill them in is very helpful.

    Reply
  23. Bac Nguyen says:
    January 16, 2013 at 9:43 pm

    Further reading and watching the agreements video. We could use this form to do “Subject to” and buying with Owner Financing deals.

    Reply
  24. KJ Roberts says:
    February 6, 2013 at 3:41 am

    Here is a good question
    Anyone has any idea how to modify a standard real estate purchase and sale agreement to reflect a subject to existing mortgage transaction?

    Answer
    Anyone has any idea how to modify a standard real estate purchase and sale agreement to reflect a subject to existing mortgage transaction?

    Reply
  25. KJ Roberts says:
    February 6, 2013 at 3:43 am

    Question

    If I decide to back out of the purchase agreement for no reason other then I don’t think I want the house anymore, what are my consequences.

    Yes it is legal. They will keep your deposit if you back out because you don’t want it anymore. And they might be able to sue you to force you to perform (this is very hard though). Keep your deposit to $100

    Reply
  26. KJ Roberts says:
    February 6, 2013 at 3:46 am

    Question

    When using a REAL ESTATE INVESTOR as opposed to a Realtor to sell your home, how is the Agreement of Sale handled?

    Real Estate Investors by nature want to make money in purchasing real estate,so in answer to your question yes they want to purchase the property as cheap as possible.

    Reply
  27. KJ Roberts says:
    February 6, 2013 at 3:47 am

    How do I find a good real estate attorney?

    why not google a real estate agent in that area you live in and ask them if they can do it… will cost alot less possibly, thats what I would do first and if they can’t do it then google real estate attorney in that area

    Reply
  28. KJ Roberts says:
    February 6, 2013 at 3:49 am

    I have found a real estate agent and this is NOT my first home purchase. Something in the contract sounded funny and I want to hear what you guys think. It states:

    “$425.00 transaction fee paid directly to Keller Williams real estate upon closing.”
    A real estate “junk fee”… The “perk” is that he splits that fee with his broker in addition to the commission the seller pays. Buyer’s now not only have to eagle their GFE & HUD-1 for lender junk fees, but now KW (and others) implement real estate junk fees?

    Reply
  29. D.L. Cote says:
    March 4, 2013 at 8:56 pm

    I had a closing last year where the attorney doing the closing had a $500 junk fee, don’t remember what he called it, caught him red handed at the closing and embarrassed the crap out of him in front of a half dozen people.
    You have to scrutinize the HUD 1 settlement statement. I have had three closings where the junk fees ranged from $350 up to $1,000 for BS, caught’em all though.

    Reply
    • Kim Scheuer says:
      March 15, 2017 at 5:26 pm

      How did you deal with these junk fees getting charged at closing? What did you say to dispute them? I would like to know. thank you.

      Reply
  30. Cliff Roach says:
    April 2, 2013 at 12:45 pm

    how do i get a copy with out the para 6 cross
    outs?? need it that way for acts deals!
    thanks Cliff Roach

    Reply
  31. Michael Minnihan says:
    April 3, 2013 at 1:43 pm

    @ DL

    Good for catching them on the HUD-1

    Ask to see a preliminary HUD-1 before closing.

    Also ask “You aren’t going to put any of those ridiculous junk fees on the HUD-1 settlement statement/settlement statement are you?”

    Reply
  32. Michael Minnihan says:
    April 3, 2013 at 2:04 pm

    @ KJ

    Question: how to modify a standard real estate purchase and sale agreement to reflect a subject to existing mortgage transaction?

    Answer:

    Add the following below to the financing section of any purchase & sale agreement for subject to financing:

    “Approximate total of existing mortgage balance(s) encumbering the Property taken subject to $________________”

    Ron has either of the following in his P&S Agreement

    F. Other financing _____________________________________________________ . $_____________
    G. Existing mortgage balance encumbering the Property to be taken subject to by Buyer (approximately). $_____________

    Reply
  33. Roger Young says:
    May 16, 2013 at 6:07 am

    This Standard Purchase and Sale Agreement is a work of art.

    It is the best. It covers it all.

    you should get familiar with this form. You will be using it a lot.

    Fantastic Form!

    Reply
  34. Jodi Odell says:
    May 18, 2013 at 11:40 pm

    Great information

    Reply
  35. Paul Black says:
    May 30, 2013 at 2:41 am

    Thank you for keeping me out of trouble by giving me the right words. Left to my own devices I am not good with contract language.

    Reply
  36. Jarret Byrd says:
    July 13, 2013 at 8:12 pm

    I just used this today for the 1st time to secure our 1st Work For Equity deal! Simple, but thorough. One down, many more to go; Who’s next?! – JB

    Reply
  37. John Walton says:
    July 24, 2013 at 3:17 am

    Congratulations Jarret. Way to go.

    Reply
  38. Christy Nguyen says:
    July 28, 2013 at 5:40 am

    What does this paragraph mean?
    5. Payment of Expenses: If Buyer fails to perform, all loan and sale processing and closing costs incurred, whether the same were to be paid by Seller or Buyer will be the responsibility of the Buyer, with costs deducted from binder deposit.

    Reply
  39. Marcus Campbell says:
    November 6, 2013 at 9:38 pm

    Anyone using this form in California?
    For wholesaling in California?

    Reply
  40. Marcus Campbell says:
    November 12, 2013 at 1:12 am

    can u use this agreement 4 flipping junkers in california?

    Reply
  41. Michael Alexander says:
    June 27, 2014 at 10:18 pm

    Is this the same purchase and sales agreement used for selling to an owner occupant buyer?

    OR is there a separate assignment contract that is used in place of the purchase and sales agreement?

    Thanks,
    Mike
    Buysellfastnow@gmail.com

    Reply
  42. Ron Caruthers says:
    October 4, 2014 at 1:54 am

    Ron’s weekly lesson number 146 does a really good job of covering exactly how to fill this out.

    Be sure to watch it if you haven’t already.

    It’s about 16 minutes long, but he answers a lot of questions.

    Reply
  43. Alan James says:
    January 28, 2015 at 4:22 pm

    Is this the correct form for buying properties in Florida “Subject To”?

    Reply
  44. Tim Walker says:
    March 17, 2015 at 12:24 pm

    Not Standard by any means.
    This is an Awesome Purchase & Sales Agreement.

    Thanks Ron!

    Reply
  45. Hasim Cosovic says:
    April 2, 2015 at 8:20 pm

    This is an excellent purchase and sales agreement. Thanks Ron.

    Reply
  46. Addie Scharff says:
    October 6, 2015 at 12:26 pm

    I cannot stand 8.5×14 documents!!! They’re a pain to file, and there’s no real reason for them anymore! Also, this Word “form” is no form at all. I can’t really fill it it, and when I try printing it things shift all over the place! Ron, you need to hire a person that knows how to create these forms in 8.5×11 actual ‘fillable’ format….PLEASE!!!! :/

    Reply
  47. Colin Clark says:
    October 20, 2015 at 10:10 am

    Would I use this document when I am buying with owner financing, paying cash, or taking over the debt? Does this apply to all three scenarios?

    Reply
  48. Leonard Robinson says:
    December 24, 2015 at 10:52 pm

    The line that states this contract is assignable is not clearly stated

    Leonard Robinson

    Reply
  49. John Gerstenlauer says:
    December 28, 2015 at 11:04 am

    Nick, I have a few suggested changes on the new P&S and would be happy to send an MSWord document marked up in “Review/Track Changes” mode for you to use or not use at your discretion. In my comments I have two that may actually have an impact on the meaning of the agreement. 1) I would change Paragraph 1E to read “Purchase money loan to Buyer…” (NOT to Seller). In Paragraph 2B I would have the first sentence read “…evidenced by a negotiable promissory note of Buyer…”. This second suggestion is because the term “Borrower” is not defined in the Agreement but the term “Buyer” is defined in the opening paragraph. Please let me know if you’d like to see all of my suggested changes in an MSWord document. Thanks.

    Reply
  50. Charlie Heaton says:
    December 30, 2015 at 12:40 pm

    I am New Student. I bought my course in November 2015. Today 12/30/15 I am submitting my 1st P/S agreement to a seller. I am as excited and nervous as long tail cat in room full of rocking chairs. I am unsure of all the boxes on this form to check or not check. Help!

    Reply
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