Purchase Agreement — Free PDF Template

Three distinct templates with three different bodies of law. Goods — physical movable things (cars, equipment, inventory, livestock). Governed by UCC Article 2 (adopted in 49 states except Louisiana which uses Civil Code art. 2438). Statute of frauds writing requirement for $500+ per UCC §2-201. Implied warranties auto-attach unless properly disclaimed. Real-estate PSA — land + buildings + permanent fixtures. Governed by state real-property statute + common-law Statute of Frauds (writing required in all 50 states per Restatement (Second) Contracts §125). Subject to TRID for consumer mortgages, lead-based paint disclosure for pre-1978 residential, state transfer tax, deed recording at county clerk. Business asset sale — buying specific assets of a business (not the entity itself, which would be a stock or merger agreement). Mix of UCC Art 2 for tangible assets + state corporation code for goodwill + IP assignment for trademarks/patents/copyrights + UCC Art 6 bulk-sale notice in CA (and ~5 other holdout states — repealed in 45 states). Our toggle auto-loads the right clause stack and renumbers sections; one wizard, three legally-correct outputs.

UCC §2-201 requires that any contract for the sale of goods $500 or more be evidenced by a writing signed by the party against whom enforcement is sought. The writing must show (a) that a contract has been made, (b) the quantity of goods, and (c) the signature of the party to be charged. The writing need not contain all material terms — quantity is the only essential term. Three statutory exceptions to the writing requirement: (1) Merchant Confirmation Rule §2-201(2) — between merchants, a written confirmation sent within reasonable time and not objected to within 10 days binds the receiving merchant; (2) Specially Manufactured Goods §2-201(3)(a) — goods specially manufactured for the buyer and not suitable for sale to others in the ordinary course are enforceable on partial performance; (3) Partial Performance / Admission §2-201(3)(b)-(c) — admission in pleading / testimony, or partial payment / receipt of goods enforces the contract to that extent. Real-estate contracts are NOT under UCC §2-201 — they fall under the state common-law Statute of Frauds (writing required in all 50 states for any real-property transfer per Restatement (Second) Contracts §125, with the part-performance doctrine as the main exception in equity).

Yes — iFillPDF generates the full goods, real-estate PSA or business asset purchase agreement PDF for free (unlimited free use with a watermark and 0 AI Deep Detect, no credit card, no email-wall on the free tier). eForms publishes 7 free static PDF blanks (residential, vehicle, business assets, equipment, etc.) but with no TRID engine, no contingency stack logic, no IRC §1031/§121 flagging, no e-signature, and no state transfer-tax matrix. eSign and FreeForms also publish free static PDFs. LegalTemplates is $39 per doc with their wizard. PandaDoc is $19/mo Essentials (CRM-bundled, goods-only template). LawDepot is $33/mo lock ($396/yr). Rocket Lawyer is $39.99/mo membership ($479.88/yr). LegalZoom is $35 per single doc + $39.99/mo Legal Plan upsell. dotloop (real-estate-specific) is $31.99/mo Premium. DocuSign Rooms is $50/mo per user (real-estate transaction room). iFillPDF beyond the free tier is a one-time $8.99 Lifetime payment (no subscription) to remove the watermark for good + e-signature vault + RON integration + EU Frankfurt vault + 7-year FRE 902(13) audit trail archive. AI Deep Detect is sold separately as one-time credit packs (10 for $10, 50 for $35, 200 for $80, never expire).

Earnest money is a good-faith deposit the buyer puts down at contract signing to demonstrate serious intent — typical 1-3% of purchase price in residential, 5-10% in commercial, held in escrow by a neutral third party (title company, escrow agent, broker trust account, or attorney depending on state). Buyer forfeits earnest money on default OUTSIDE the contingency-free windows. Inside contingency windows: buyer typically gets earnest money back if (a) inspection contingency triggers within the inspection period (usually 7-17 days), (b) financing contingency fails within the financing period (usually 21-30 days for conventional, 30-45 days for FHA/VA), (c) appraisal comes in below contract price within the appraisal contingency period (usually 14-21 days), (d) title insurance reveals a defect that seller cannot cure within the title contingency period (usually 10-15 days), (e) sale-of-buyer’s-current-home contingency fails within the agreed period (usually 30-60 days). Outside those windows, buyer default = forfeiture of earnest money to seller as liquidated damages (enforceable per Restatement (Second) Contracts §356 if the amount is a reasonable forecast — most courts uphold 1-3% for residential). Seller default = buyer typically gets earnest money returned + may sue for specific performance (real estate is unique, monetary damages inadequate) or expectation damages. Our wizard auto-builds the contingency-driven earnest-money waterfall.

Yes, for any closed-end consumer mortgage on a residential 1-4 unit dwelling. TRID (TILA-RESPA Integrated Disclosures) was effective Oct 3 2015, codified at 12 CFR §1026.19(e) and (f). Required for: any federally-related mortgage loan to a consumer for personal/family/household purpose on a residential 1-4 unit dwelling. Not required for: HELOCs (separate disclosure rules), reverse mortgages, chattel-dwelling loans (mobile home not affixed to real property), loans for commercial purpose or any 5+ unit property, all-cash transactions. Two required forms. (1) Loan Estimate — within 3 business days after application; lists estimated APR, monthly payment, total settlement costs broken into Loan Costs (origination, services you can/cannot shop for) and Other Costs (taxes, gov fees, prepaids, escrow). (2) Closing Disclosure — must be received by borrower at least 3 business days before consummation (closing); itemizes final figures. Changes in APR more than 0.125% (fixed rate) or 0.25% (variable), loan product changes, or addition of prepayment penalty trigger a NEW 3-day waiting period. Cash and commercial deals are NOT subject to TRID and use the legacy HUD-1 Settlement Statement instead. Our wizard auto-flags whether your transaction is in or out of TRID scope.

Four main deed types with very different title protection. (1) General warranty deed — strongest covenants, seller warrants title against ALL prior claims including before seller’s ownership period (5 covenants: seisin, right to convey, against encumbrances, quiet enjoyment, warranty + further assurances). Default for arm’s-length residential resale in most eastern states. (2) Special / limited warranty deed — seller warrants title only against claims arising DURING seller’s ownership period, not before. Common in commercial real estate, REO bank-sale, foreclosure resale, and Texas. (3) Grant deed — California / a few western states default. Implied covenants that seller has not previously conveyed to anyone else AND that title is free of encumbrances made by seller (weaker than general warranty, stronger than quitclaim). (4) Quitclaim deed — no warranties at all, transfers only whatever interest seller actually owns (could be nothing). Used for intra-family transfers (parent to child, ex-spouse post-divorce per QDRO), clearing clouds on title, transferring into / out of a revocable living trust, adding/removing a spouse. ALTA owner’s title insurance Form 2006 supplements general warranty by providing dollar-loss coverage for any pre-closing title defect — 1-time premium 0.3-0.5% of purchase price, lasts as long as you (or your heirs) own the property. We auto-suggest the right deed type based on your transaction context.

IRC §1031 allows you to defer capital-gains tax when you sell an investment or business-use real property AND replace it with another investment or business-use real property of "like kind." Post-2017 Tax Cuts and Jobs Act §13303, only real property qualifies (personal property §1031 was repealed). Three core eligibility tests. (1) Both relinquished and replacement properties must be held for productive use in a trade or business OR for investment (your primary residence does NOT qualify — that uses IRC §121 instead). (2) Properties must be like-kind — virtually any US real estate is like-kind to any other US real estate (raw land for an apartment building counts; US for foreign does not). (3) Strict timing: 45-day identification window (you must identify replacement property in writing to a Qualified Intermediary within 45 calendar days of closing on the relinquished property — no extensions, ever) and 180-day exchange window (you must close on the replacement property within 180 calendar days of closing on the relinquished property OR by your tax filing deadline including extensions, whichever is earlier). Failure = full capital-gains tax on the relinquished property. We auto-flag the §1031 eligibility check + identification deadline + QI requirement when your purchase agreement is paired with a recent investment-property sale.

The purchase contract itself — yes, in all 50 states + DC, legally binding on signature without notarization. The deed at closing — yes, notarization required in all 50 states + DC for the deed to be RECORDABLE at the county clerk’s office (and recordation is what protects the buyer’s title against subsequent purchasers under the recording statutes). What is required for the contract: mutual assent (offer + acceptance), consideration (purchase price), capacity (over 18, mentally competent), lawful purpose, AND for any real-estate contract a writing signed by the party against whom enforcement is sought (Statute of Frauds, all 50 states per Restatement (Second) Contracts §125). For goods, writing required only if $500+ per UCC §2-201. Signature can be wet ink or electronic — ESIGN Act 15 USC §7001 + state UETA (49 states + DC, NY uses ESRA NY State Tech Law §301) make e-signatures legally equivalent to handwritten in 99.9% of business contexts. Real-estate transactions are explicitly INCLUDED in ESIGN per §7003 (no carve-out for real estate contracts — only wills, codicils, testamentary trusts, certain UCC documents and family-law matters are excluded). Remote Online Notarization (RON) supported in 44 states + DC as of May 2026 per MBA RON Tracker — allows the deed itself to be notarized by audio-video conference, recorded by the county clerk like a wet-ink notarization. Court admissibility governed by FRE 902(13) for electronic records with hash + timestamp audit trail (which iFillPDF auto-generates).

Free forever with a watermark and 0 AI Deep Detect, no page limit. No credit card, no signup wall on the free tier. To remove the watermark for good: a one-time $8.99 Lifetime payment (no subscription) + e-signature vault + Remote Online Notarization (RON) integration in 44 states + DC + EU Frankfurt vault (TADPF + Schrems II shielded) + 7-year FRE 902(13) audit trail archive + state transfer-tax matrix + IRC §1031/§121 calculator + TRID Loan Estimate / Closing Disclosure timeline tracker. AI Deep Detect is sold as one-time credit packs (10 for $10, 50 for $35, 200 for $80, credits never expire). Compare 2026 US market: LegalZoom $35 per single doc + $39.99/mo Legal Plan ($479.88/yr); Rocket Lawyer $39.99/mo membership ($479.88/yr); LawDepot $33/mo lock ($396/yr); LegalTemplates $39 per doc with no e-sign included; PandaDoc $19/mo Essentials (CRM-bundled, goods-only); DocuSign $30/mo Personal (e-sign only, no clause engine); DocuSign Rooms (real-estate transaction room) $50/mo per user; dotloop (real-estate-specific) $31.99/mo Premium; Zillow / Redfin (broker-only, not buyer-facing tools); RealPage (property-management enterprise, not retail); eForms free static PDF (no engine, no e-sign); FreeForms free static PDF (no engine); CocoDoc blank PDF (no contingency engine).