Buyer Purchase Agreement Checklist

Use this before your buyer signs

1. Read & Validate Entire Agreement

• Read the full purchase agreement, not just key sections
• Confirm form type (BOR or other)
• Review all addendums and attachments
• Confirm no referenced addendums are missing
• Recommend attorney review, make clear you are not an attorney

2. Parties & Property

• Verify buyer names (match ID / loan docs)
• Confirm vesting (individual, LLC, trust, etc.)
• Confirm property address
• Confirm legal description (if included)
• Confirm MLS and PA match

3. Price & Core Terms

• Purchase price confirmed
• Earnest Money Deposit (EMD) amount (typically 1–3%)
• EMD due date and delivery method
• Who is holding EMD
• Financing type:
  • Cash
  • Conventional
  • FHA / VA / USDA
  • Land contract / other
• Down payment amount
• Preapproval or Proof of Funds attached
• Loan type works with property (condo, condition, etc.)

4. Costs & Financial Exposure

• Seller concessions (closing costs, credits)
• Buyer closing cost estimate reviewed
• Title insurance – who pays
• Tax prorations (confirm correct method: arrears vs advance)
• Any escrows (repair, occupancy, water, etc.)
• Any hidden fees in addendums
• Net sheet reviewed with buyer

5. Included / Excluded Items

• Appliances explicitly listed
• Fixtures vs personal property clarified
• Excluded items confirmed
• Buyer understands:
  • MLS ≠ contract
  • If not in PA, it is NOT included

6. Contingencies (Critical Risk Section)

• Inspection contingency
• Financing contingency
• Appraisal contingency (if applicable)
• Home sale contingency
• Title contingency
• Condo/HOA doc review contingency
• Any custom contingencies

✔ Deadlines are realistic
✔ Buyer understands risk if waived

7. Inspection & Property Condition

• Inspection timeframe (days)
• Rights:
  • Inspect
  • Request repairs
  • Terminate
• Seller disclosures included
• Lead-based paint disclosure (if pre-1978)
• Well / septic / environmental considerations
• Flood zone awareness (if applicable)
• “As-Is” language explained clearly

8. Condo / HOA (If Applicable)

• HOA dues verified
• Special assessments:
  • Existing?
  • Pending?
  • Who pays?
• Condo reserves handling
• Application / transfer fees
• HOA approval requirements
• Buyer given time to review docs

9. Dates & Timeline Alignment

• Offer expiration (required)
• Acceptance deadline
• Inspection deadline
• Financing deadline
• Closing date:
  • Mortgage: ~35–45 days
  • Cash: ~7+ days
• Possession date
• Occupancy terms (post-closing or pre-closing)

✔ Matches buyer’s move + financing timeline
✔ Works with any buy/sell contingency

10. Title, Risk & Legal Terms

• Default clause reviewed
• Risk of loss clause reviewed
• FIRPTA considerations (if applicable)
• Dispute resolution terms
• Special provisions reviewed carefully
• Delivery/notice terms understood

11. Fraud & Compliance (Critical)

• Verify seller identity (fraud prevention)
• Wire fraud disclosure provided and signed
• Buyer instructed:
  • Never trust wiring instructions via email
  • Always verify via phone

12. Additional Property Factors

• Tenant rights (if occupied)
• Income property considerations
• Pool, well, septic, etc.
• Home warranty (included or not)

13. Final Buyer Review

• Buyer understands:
  • Price
  • Costs
  • Risks
  • Contingencies
  • Included items
• Buyer is comfortable with timelines
• Buyer has read entire agreement
• Recommend attorney review again

14. Broker Compliance (Before Submission)

• Submit within required timeframe (typically 72 hours)
• Upload all documents
• Confirm:
  • Buyer agency disclosure signed
  • Buyer agency agreement signed
  • Wire fraud disclosure signed
  • Fair housing compliance
• Retain all records (5 years)

15. Final Execution Check

• All signatures completed
• Dates filled in correctly
• Addendums signed
• Delivery method confirmed
• Offer expiration clearly defined