Purchase Agreement Review Checklist
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Parties and Property Identification
Verify the correct parties are named and the property is accurately described.
Buyer's Full Legal Name
Seller's Full Legal Name(s)
Property Address (Full & Accurate)
Legal Description (Lot & Block)
Parcel Number (APN)
Type of Property (e.g., Single Family, Condo, Vacant Land)
Ownership Type
Purchase Price and Financing
Review the agreed-upon price, financing terms, and any contingencies related to financing.
Agreed Purchase Price
Financing Type (Buyer)
Down Payment Amount (if applicable)
Loan Amount (if applicable)
Loan Application Deadline
Interest Rate (Expected/Locked)
Special Financing Conditions (e.g., sale of buyer’s current property)
Appraisal Contingency?
Earnest Money & Deposits
Examine the earnest money amount, deposit schedule, and conditions for forfeiture.
Earnest Money Amount
Initial Deposit Due Date
Percentage of Purchase Price (if applicable)
Additional Deposit Due Date(s) (if applicable)
Description of how Earnest Money will be held (Escrow, Attorney Trust Account, etc.)
Condition for Forfeiture of Earnest Money
Specifics regarding release of Earnest Money to Seller at Closing (e.g., conditions)
Contingencies
Thoroughly analyze all contingencies (e.g., inspection, appraisal, financing) and their associated deadlines and remedies.
Inspection Contingency Included?
Inspection Contingency Details (Scope, Deadline, etc.)
Inspection Deadline
Appraisal Contingency Included?
Agreed Upon Appraisal Amount (Contingency Trigger)
Financing Contingency Included?
Financing Approval Deadline
Specific Financing Conditions (if any)
Closing Date & Possession
Confirm the agreed-upon closing date and details regarding possession of the property.
Proposed Closing Date
Actual Closing Date (if different)
Possession at Closing?
Specific Possession Details (if Negotiable)
Amount of Security Deposit (if applicable)
Notes Regarding Security Deposit Release
Leases or Rental Agreements
Details regarding leases (if applicable)
Disclosures & Representations
Assess all disclosures related to the property’s condition, history, and legal status.
Seller's Disclosure Statement Review
Lead-Based Paint Disclosure (if applicable)
Environmental Hazards Disclosure (e.g., asbestos, radon)
Property Condition Disclosure - Material Defects?
Details regarding Material Defects (if applicable)
Flood Zone Disclosure
Supporting Documents (e.g., inspection reports, previous disclosures)
Default & Remedies
Understand the consequences and remedies for both buyer and seller if either party defaults on the agreement.
Buyer Default Clause Description
Seller Default Clause Description
Buyer's Forfeited Earnest Money Limit (if applicable)
Seller's Damages Limit (if applicable)
Specific Cure Period Provided?
Cure Period Expiration Date (if applicable)
Does Agreement Specify Specific Legal Action?
Notes on Remedies Clauses
Personal Property & Inclusions
Verify which personal property items are included in the sale and clearly defined.
List of Appliances Included (e.g., Refrigerator, Dishwasher, Oven, Microwave)
Other Personal Property Included (e.g., Window Coverings, Light Fixtures, Mirrors)
If 'Other' selected above, please specify:
Quantity of Fireplace Screens Included
Condition of Included Items
Any specific agreements about condition or removal of included items?
Legal Review & Signatures
Ensure all signatures are correct, witnesses and notarization (if required) are in place, and legal counsel has reviewed (if applicable).
Attorney Name (Reviewing Counsel)
Summary of Legal Review Comments/Recommendations
Review Status
Date of Legal Review
Attorney Signature
Notarization Required?
Upload Notarization Documents (if applicable)
Miscellaneous Clauses
Review any unique or unusual clauses that require special attention or clarification.
Special Stipulations/Addenda
Home Warranty Inclusion?
Leaseback Period (if applicable)
Leaseback Termination Date (if applicable)
Brokerage/Agency Disclosures (Review for Completeness)
As-Is Sale?
Clarification Needed on Unusual Clause (if any)
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