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Before signing a real estate purchase agreement, verify the deal’s basic terms, read every addendum, and understand each contingency, deadline, notice requirement, and consequence for your deposit. A signed offer can carry legal obligations even when inspections, financing, or other conditions are still pending. Because forms and laws vary by state, ask a local real estate attorney about unclear language or unusual terms before you sign.
Start with the complete agreement
Read the entire purchase agreement and every addendum or other document it incorporates by reference. Check that the written terms match what you and the seller actually agreed to. At minimum, verify the buyer and seller names, property address and legal description, purchase price, included items, deposit, financing terms, and all material dates.
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For a sense of why timing matters, Oregon’s administrative rule says a signed offer is an offer to purchase regardless of pending inspections, conditions, or contingencies. That is an Oregon-specific rule, not a statement of law in every state; the general lesson is to understand the document before signing it. Oregon Administrative Rules § 863-015-0135
Check the price, deposit, and funds
Confirm the purchase price and the earnest-money deposit amount, due date, recipient or escrow holder, and handling instructions. Earnest money is a good-faith deposit, not the down payment itself. It is commonly held by a third party in escrow and may be credited toward the down payment or closing costs at closing. Whether it is refundable if the deal ends depends on the contract and applicable law. The National Association of Realtors (NAR) notes that a deposit may be returned when a contingency such as inspection, appraisal, or financing cannot be resolved. NAR’s guide to escrow and earnest money
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Understand financing and appraisal contingencies
A financing contingency addresses the risk that you cannot obtain the mortgage needed to complete the purchase. Check the loan terms covered, the time allowed to secure financing, what counts as a delay or denial, and how and when you must notify the seller. The Consumer Financial Protection Bureau (CFPB) recommends considering a financing contingency so that a buyer who cannot get a loan is not contractually required to buy. CFPB’s guide to finding the right home
An appraisal contingency addresses a different risk: the property’s appraised value may be lower than the agreed price. Read what the agreement allows in that situation, including whether the parties can renegotiate, whether you may terminate, and what happens to the deposit. Financing and appraisal provisions are common contingencies, but their protections depend on the exact contract language, deadlines, notice, and local law. NAR’s guide to real estate sales contract contingencies
Review inspection rights and property condition
Find the inspection deadline, what inspections are permitted or required, how results must be reported, and what options you have if problems are found. Depending on the agreement, you may be able to request repairs or a credit, proceed as-is, or cancel; the contract and applicable law determine which options are available. A satisfactory-inspection contingency may allow cancellation without penalty if you are dissatisfied, subject to its terms. CFPB’s home inspection guidance
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- Note the deadline and the required method and recipient for any notice.
- Understand which parts of the property an inspection covers and which it does not.
- If possible, attend the inspection so you can ask questions about the findings.
Confirm closing, possession, title, and included items
Check the closing date and when you are entitled to possession. If the seller will remain in the property after closing or another occupancy arrangement applies, make sure the timing and terms are written down. Verify which appliances, fixtures, or other items stay with the home, who is responsible for agreed repairs, and what the agreement says about title evidence and title defects.
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Repair Windows errors before they cause bigger problemsFix Now →Fix the driver behind crashes, sound loss and screen glitchesFind Drivers →Clear out junk files and repair common Windows errorsFree Scan →For a purchase with another buyer, consider whether the deed will give you the intended form of shared ownership. CFPB notes that a real estate attorney may help co-buyers ensure the deed reflects how they intend to hold title. The contract’s title provisions, closing services, and allocation of costs should also be clear. NAR’s guide to working with a real estate attorney
Map every deadline and required notice
Make a calendar of every deposit, financing, inspection, appraisal, title, and closing deadline. For each one, identify who must act, what must be delivered, how it must be delivered, and to whom. A contingency is useful only to the extent its conditions and procedures are followed; there is no universal deadline or outcome that applies to every agreement.
Put any agreed change, extension, repair promise, credit, or waiver in a signed writing in the form required by the contract and local rules. Do not rely on a verbal promise that is missing from the signed documents. Keep a complete copy of the final signed agreement and all addenda.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Know when to ask a local attorney
Seek local legal advice before signing if a clause is unclear, the deal involves unusual terms, or you have questions about title or ownership. Attorney involvement is required in some states and optional in others, so verify the rule where the property is located. NAR identifies renovation loans, probate or trust ownership, co-buying, seller financing, and title concerns as examples of situations where an attorney may be useful. NAR’s attorney guidance
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The purchase agreement sets the obligations between buyer and seller. A mortgage borrower later receives separate loan and closing documents. In most covered mortgage transactions, the borrower must receive the Closing Disclosure three business days before closing, according to CFPB guidance. Compare it with the Loan Estimate and review the loan amount, term, rate, payment, and costs. This later disclosure does not replace reviewing the purchase agreement before signing. CFPB’s mortgage closing process guidance
Quick Recap
Pre-signing checklist
- Buyer and seller names, property address and legal description, price, and included items are correct.
- Deposit amount, due date, escrow holder, and conditions affecting its return are clear.
- Financing and appraisal provisions fit your mortgage plan and clarify what happens if financing or valuation falls short.
- Inspection scope, deadline, notice method, and available responses to defects are understood.
- Closing, possession, occupancy, title, and repair terms are clear.
- Every deadline and notice recipient is on your calendar.
- All addenda and referenced documents are included, and verbal promises appear in the signed writing.
- Questions about local law, unclear clauses, shared ownership, title, or unusual terms have been raised with a local real estate attorney.
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