Residential Purchase Offer Terms Sheet
A fill-in purchase offer terms sheet — price, earnest money, contingencies, and closing timeline — to organize your offer before it goes on your state's official form.
Reviewed by Kai, our residential real estate expert · Updated July 20, 2026
When to use this
Use this before you write an actual offer: it forces every decision an offer requires — price, earnest money, contingencies, dates — so you negotiate from a complete position instead of reacting form-field by form-field. Bring it to your agent, or use it to sanity-check the contract they draft.
Check your state first
In most states a binding purchase offer must be written on a state-promulgated or Realtor-association contract form. This terms sheet organizes your decisions — it is not a substitute for your state's official form.
Build your document
Pick your state, add your details, download a finished PDF. Everything stays in your browser — nothing you type is uploaded.
2 · Your details
Anything left blank stays a fill-in line in the document.
1–3% of the price is typical
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Choose a state to fill in its legal terms
This generates an offer terms sheet for negotiation prep. A binding offer in most states must be written on the state's official contract form — bring this sheet to that form, don't substitute it.
Parties and property
Buyer: [BUYER FULL LEGAL NAME] Seller: [SELLER FULL LEGAL NAME] Property: [FULL STREET ADDRESS, CITY, STATE, ZIP] Legal description: [ATTACH OR REFERENCE COUNTY PARCEL / LOT NUMBER]
Offer price and financing
Purchase price: $[PURCHASE PRICE] Financing: [CASH / CONVENTIONAL / FHA / VA / OTHER], with a down payment of $[DOWN PAYMENT] Pre-approval letter: [ATTACHED / TO FOLLOW WITHIN X DAYS]
Earnest money
Earnest money deposit: $[EARNEST MONEY] ([TYPICALLY 1–3]% of purchase price), to be deposited with [ESCROW / TITLE COMPANY NAME] within [3] business days of acceptance. Earnest money applies toward the purchase price at closing and is refundable only under the contingencies below.
Inspection contingency
This offer is contingent on Buyer's inspection of the property, to be completed within [7–10] days of acceptance. Buyer may request repairs, request credits, or withdraw with a full earnest money refund if inspection reveals material defects.
Financing contingency
This offer is contingent on Buyer obtaining financing on the terms above within [21–30] days of acceptance. If financing is denied despite Buyer's good-faith efforts, earnest money is refunded.
Appraisal contingency
This offer is contingent on the property appraising at or above the purchase price. If the appraisal is lower, Buyer may [RENEGOTIATE / COVER THE GAP UP TO $X / WITHDRAW with refund].
Closing and possession
Closing date: [CLOSING DATE] Possession: [AT CLOSING / X DAYS AFTER CLOSING with $X/day rent-back] Closing costs: Each party pays its customary costs; Buyer requests Seller credit of $[AMOUNT / NONE] toward Buyer's closing costs.
Inclusions and exclusions
Included: all fixtures, plus [APPLIANCES / WINDOW TREATMENTS / SHED / OTHER]. Excluded: [SELLER'S ITEMS].
Offer expiration
This offer expires at [OFFER EXPIRATION TIME AND DATE] if not accepted in writing.
Educational starting point, not legal advice — the PDF carries the same note. Have a local professional review before signing.
The annotated reference
[BRACKETS] mark fill-in fields
Parties and property
Buyer: [BUYER FULL LEGAL NAME] Seller: [SELLER FULL LEGAL NAME] Property: [FULL STREET ADDRESS, CITY, STATE, ZIP] Legal description: [ATTACH OR REFERENCE COUNTY PARCEL / LOT NUMBER]
Kai's note
Use full legal names exactly as they'll appear on title. The legal description comes from the county record, not the listing.
Offer price and financing
Purchase price: $[PURCHASE PRICE] Financing: [CASH / CONVENTIONAL / FHA / VA / OTHER], with a down payment of $[DOWN PAYMENT] Pre-approval letter: [ATTACHED / TO FOLLOW WITHIN X DAYS]
Kai's note
Sellers weigh certainty as much as price. A clean pre-approval letter attached to the offer is worth real money in negotiation.
Earnest money
Earnest money deposit: $[EARNEST MONEY] ([TYPICALLY 1–3]% of purchase price), to be deposited with [ESCROW / TITLE COMPANY NAME] within [3] business days of acceptance. Earnest money applies toward the purchase price at closing and is refundable only under the contingencies below.
Kai's note
Earnest money is your skin in the game. Bigger deposits strengthen offers — but only agree to what your contingencies actually protect.
Inspection contingency
This offer is contingent on Buyer's inspection of the property, to be completed within [7–10] days of acceptance. Buyer may request repairs, request credits, or withdraw with a full earnest money refund if inspection reveals material defects.
Kai's note
The inspection window is where deals are really negotiated. Shorter windows make stronger offers; waiving inspection entirely is how people buy $40K foundation problems.
Financing contingency
This offer is contingent on Buyer obtaining financing on the terms above within [21–30] days of acceptance. If financing is denied despite Buyer's good-faith efforts, earnest money is refunded.
Kai's note
Even pre-approved buyers keep this unless competing with cash — appraisal shortfalls and underwriting surprises are real.
Appraisal contingency
This offer is contingent on the property appraising at or above the purchase price. If the appraisal is lower, Buyer may [RENEGOTIATE / COVER THE GAP UP TO $X / WITHDRAW with refund].
Kai's note
The 'cover the gap up to $X' middle ground is the practitioner move in hot markets — it signals commitment without writing a blank check.
Closing and possession
Closing date: [CLOSING DATE] Possession: [AT CLOSING / X DAYS AFTER CLOSING with $X/day rent-back] Closing costs: Each party pays its customary costs; Buyer requests Seller credit of $[AMOUNT / NONE] toward Buyer's closing costs.
Kai's note
A flexible closing date or a free short rent-back can win against a higher price — ask the listing agent what the seller actually wants.
Inclusions and exclusions
Included: all fixtures, plus [APPLIANCES / WINDOW TREATMENTS / SHED / OTHER]. Excluded: [SELLER'S ITEMS].
Kai's note
Name the appliances specifically. 'The fridge stays' disputes are the most avoidable closing-week fight in real estate.
Offer expiration
This offer expires at [OFFER EXPIRATION TIME AND DATE] if not accepted in writing.
Kai's note
24–48 hours is standard. Open-ended offers invite being shopped against other buyers.
These templates are educational starting points, not legal advice. Real estate law varies by state — and sometimes by county — so adapt the bracketed fields to your situation and have a local professional review anything before you sign it or send it.
Common questions
Can I submit an offer without an agent?
In most states yes — but the binding contract still needs to be on a compliant form, and unrepresented offers should be reviewed by a real estate attorney. Some sellers' agents will prepare the paperwork for an unrepresented buyer; get your own review anyway.
How much earnest money is normal?
1–3% of the purchase price in most markets, held by escrow or title — never handed directly to the seller. Hot markets run higher; the deposit is refundable only through your contingencies, so know them before you raise it.
Goes with this template
Questions about filling this in?
Kai covers residential real estate — ask anything, free.