AI Arkansas Purchase Agreement

Get a complete, ready-to-use Arkansas Residential Purchase and Sale Agreement, enter property address, purchase price, contingencies, parties, and dates to generate a fully drafted contract in minutes., -

ARKANSAS RESIDENTIAL PURCHASE AND SALE AGREEMENT

This Residential Purchase and Sale Agreement (this "Agreement") is entered into as of [[Effective Date]] ("Effective Date") by and between [[Seller Full Legal Name(s)]] ("Seller") and [[Buyer Full Legal Name(s)]] ("Buyer"). Seller agrees to sell and Buyer agrees to purchase the Property described below on the terms and conditions set forth in this Agreement., -

ARTICLE I, PARTIES AND PROPERTY

1. Seller

Seller: [[Seller Full Legal Name(s)]], residing at [[Seller Current Address]]. If Seller is married, both spouses should execute this Agreement and the deed in accordance with Arkansas law regarding spousal rights in real property.

2. Buyer

Buyer: [[Buyer Full Legal Name(s)]], whose address for notice purposes is [[Buyer Address]]. Buyer shall take title as: [[Vesting, e.g., joint tenants with right of survivorship / tenants in common / sole and separate property]].

3. Property Description

Seller agrees to sell and convey to Buyer the real property commonly known as [[Property Street Address]], [[City]], Arkansas [[ZIP Code]], County of [[County]] (the "Property"), more particularly described as:

> Legal Description: [[Full Legal Description from Current Deed or Title Commitment]]

Parcel Identification Number / Tax ID: [[Parcel/Tax ID Number]].

The Property includes all improvements, structures, fixtures, and appurtenances now or hereafter attached to or forming a permanent part of the real property, including but not limited to built-in appliances, central heating/cooling systems, water heaters, ceiling fans, window treatments, garage door openers, mailboxes, landscaping, and all items that would pass with a deed under Arkansas law, EXCEPT as excluded in Section 4.

4. Personal Property Included

The following items of personal property are included in the purchase price and shall convey to Buyer at no additional cost: [[List of Included Personal Property, e.g., refrigerator, washer/dryer, window treatments, ceiling fans, garage door opener]]. All included items shall be in the same condition at closing as on the Effective Date, subject to ordinary wear and tear.

5. Personal Property Excluded

The following items are excluded from this sale and shall be removed by Seller prior to closing: [[List of Excluded Personal Property, e.g., personal furnishings, specific chandeliers, outdoor play equipment]]. Seller shall repair any damage to the Property caused by removal., -

ARTICLE II, PURCHASE PRICE AND EARNEST MONEY

6. Purchase Price

The total purchase price for the Property is [[Purchase Price in Words]] Dollars ($[[Purchase Price, Numerals]]) ("Purchase Price"), payable as follows:

7. Earnest Money Deposit

Within [[Earnest Money Deadline, e.g., 3 business]] days after the Effective Date (or upon mutual acceptance if later), Buyer shall deposit $[[Earnest Money Amount]] as earnest money ("Earnest Money") with [[Escrow Holder / Title Company Name]] ("Escrow Holder"), whose address is [[Escrow Holder Address]]. The Earnest Money shall be held in a federally insured escrow account pending closing or earlier termination of this Agreement. The amount and timing of the earnest money deposit shall be as agreed and is a material term. Disposition of the Earnest Money upon default or termination is governed by Section 30.

8. Additional Deposit

☐ Not applicable.
☐ Buyer shall deliver an additional deposit of $[[Additional Deposit Amount]] to Escrow Holder on or before [[Additional Deposit Deadline, date]].

9. Financing

☐ All Cash. This Agreement is NOT contingent on financing. Buyer shall provide written proof of funds within [[Proof-of-Funds Deadline, e.g., 5 business]] days after the Effective Date.

☐ Financing Contingency. This Agreement IS contingent on Buyer obtaining a mortgage loan commitment with the following terms:

• Loan Type: [[Conventional / FHA / VA / USDA / Other]]
• Loan Amount: Not to exceed $[[Loan Amount]] ([[Loan-to-Value Ratio, e.g., 80%]] LTV)
• Maximum Interest Rate: [[Max Interest Rate, e.g., 7.50%]] per annum, fixed or adjustable as elected
• Maximum Loan Term: [[Loan Term, e.g., 30]] years
• Loan Commitment Deadline: [[Loan Commitment Date]] ("Financing Deadline")

Buyer shall diligently and in good faith pursue loan qualification. If Buyer cannot obtain a written loan commitment meeting the above terms by the Financing Deadline through no fault of Buyer, Buyer shall deliver written notice to Seller by the Financing Deadline, whereupon this Agreement shall terminate and the Earnest Money shall be refunded to Buyer (subject to any agreed conditions). If Buyer fails to deliver timely notice, the Financing Contingency is waived.

FHA/VA Notice: If this Agreement involves FHA or VA financing, Seller and Buyer acknowledge that the appraised value may establish the maximum loan amount and that FHA/VA property condition requirements may require repairs. Neither party is obligated to perform repairs beyond the amounts set forth in this Agreement unless separately agreed in writing.

10. Appraisal Contingency

☐ Appraisal Contingency Included. This Agreement is contingent on the Property appraising at not less than the Purchase Price. Buyer shall order the appraisal within [[Appraisal Order Deadline, e.g., 7]] days after the Effective Date. If the appraised value is less than the Purchase Price, Buyer shall notify Seller in writing by [[Appraisal Notice Deadline]] and may:

(a) Terminate this Agreement and receive a refund of the Earnest Money; or
(b) Proceed to closing at the Purchase Price (waiving this contingency); or
(c) Request a price reduction. Seller shall have [[Seller Response Period, e.g., 3 business]] days to accept or reject. If the parties cannot agree, Buyer may terminate and receive a refund of the Earnest Money.

Failure of Buyer to deliver timely notice waives this contingency and Buyer shall proceed at the Purchase Price.

☐ Appraisal Contingency Waived. Buyer agrees to close at the Purchase Price regardless of appraised value., -

ARTICLE III, DUE DILIGENCE AND INSPECTIONS

11. Inspection and Due-Diligence Period

Buyer shall have [[Due-Diligence Period, e.g., 10]] calendar days after the Effective Date (the "Due-Diligence Period") to conduct, at Buyer's sole expense, any and all inspections, tests, surveys, and investigations Buyer deems appropriate, including:

1. General home inspection by a licensed inspector.

2. Structural, mechanical, electrical, and plumbing inspections.

3. Roof inspection.

4. Termite/wood-destroying organism (WDO) inspection (see Section 12).

5. Radon, mold, asbestos, or lead-paint testing.

6. Septic/well testing (if applicable).

7. HVAC inspection.

8. Pool/spa inspection (if applicable).

9. Environmental or soil testing.

10. Survey (see Section 20).

11. HOA document review (if applicable).

Seller shall provide reasonable access to the Property during the Due-Diligence Period. Buyer shall give Seller or Seller's agent at least [[Inspection Notice Period, e.g., 24]] hours' prior notice of each entry, shall conduct inspections in a non-destructive manner, and shall restore the Property to its prior condition. Buyer is responsible for damages caused by Buyer's inspections. Buyer shall indemnify and hold Seller harmless from claims arising from Buyer's due-diligence activities.

Buyer's Inspection Notice: By the end of the Due-Diligence Period, Buyer shall deliver to Seller either: (a) a written notice terminating this Agreement (with the Earnest Money returned to Buyer); (b) a written Repair Request (Addendum); or (c) written notice waiving all inspection objections and electing to proceed. Failure to deliver timely written notice constitutes a waiver of all inspection objections, and Buyer shall proceed to closing in the Property's "as-is" condition (subject to Seller's representations and required disclosures).

12. Termite and Wood-Destroying Organism Inspection

A termite/WDO inspection report by a licensed pest-control company is ☐ required / ☐ not required under this Agreement. If required:

1. Buyer shall order the WDO inspection within [[WDO Order Deadline, e.g., 5]] days after the Effective Date.

2. [[Party Responsible for WDO Cost, Buyer/Seller]] shall pay the cost of the WDO inspection report.

3. If the WDO report reveals active infestation or material damage, [[Party Responsible for Treatment/Repair, Buyer/Seller/Negotiated]] shall bear treatment and repair costs up to $[[WDO Repair Cap, e.g., 2,000]]. Costs exceeding the cap shall be negotiated; if the parties cannot agree within [[Negotiation Period, e.g., 3]] days, either party may terminate with the Earnest Money refunded to Buyer.

13. As-Is / Repair Negotiation

☐ "As-Is" Purchase. Buyer accepts the Property in its present, "as-is" condition and waives the right to request repairs (other than those required by lender, FHA/VA, or mandatory by law). Seller's required disclosures under Section 25 are not affected.

☐ Repair Negotiation. The parties have agreed to the repairs/credits set forth in the attached Repair Addendum (Addendum). All agreed repairs shall be completed by [[Repair Completion Deadline]] by licensed contractors, with copies of receipts/invoices provided to Buyer at least [[Days Before Closing, e.g., 3]] days before closing. Buyer may inspect completed repairs before closing., -

ARTICLE IV, TITLE AND CLOSING

14. Title Commitment

Within [[Title Commitment Delivery Deadline, e.g., 15]] days after the Effective Date, [[Party Ordering Title, Seller/Buyer]] shall order (at the cost specified in Section 19) a title commitment from [[Title Company Name]] (the "Title Company") for an owner's policy insuring Buyer's title in the amount of the Purchase Price, subject only to the Permitted Exceptions in Section 15.

Buyer shall have [[Title Review Period, e.g., 5 business]] days after receipt of the title commitment (the "Title Review Period") to deliver written objections to title ("Title Objection Notice"). If Buyer delivers a Title Objection Notice, Seller shall have [[Seller Cure Period, e.g., 10]] days to cure or attempt to cure objectionable title matters ("Cure Period"). If Seller cannot or does not cure all objections within the Cure Period, Buyer may: (a) waive remaining objections and proceed to closing; or (b) terminate this Agreement and receive a refund of the Earnest Money. Failure of Buyer to deliver a timely Title Objection Notice waives all title objections raised by the commitment.

15. Permitted Exceptions / Title Requirements

At closing, Seller shall convey good and marketable fee simple title to the Property by [[Deed Type, e.g., General Warranty Deed / Special Warranty Deed]], free and clear of all liens, encumbrances, and defects, EXCEPT:

(a) Real property taxes and assessments for the current year not yet due and payable (prorated per Section 18);
(b) Easements and restrictions of record that do not materially impair use of the Property as a residence;
(c) HOA covenants, conditions, and restrictions of record (if any);
(d) Zoning laws, ordinances, and regulations;
(e) Rights of way of record for public utilities; and
(f) Such other matters as Buyer approves in writing ("Permitted Exceptions").

Any mortgage, deed of trust, lien, or judgment lien against the Property (including any outstanding balance on [[Seller's Existing Loan, if any]]) shall be paid and released by Seller at or before closing.

16. Title Insurance

Owner's Policy: [[Party Paying Owner's Policy Premium, Buyer/Seller/Split]] shall pay the premium for an owner's title insurance policy in the amount of the Purchase Price issued by the Title Company to Buyer at closing.

Lender's Policy: If Buyer is obtaining financing, Buyer shall pay the premium for a lender's title insurance policy in the amount of the loan (unless otherwise agreed).

Arkansas closings are typically conducted through a title company or closing attorney. Closing/escrow agent: [[Closing Agent / Title Company Name]]; the parties shall confirm the closing agent within [[Agent Selection Deadline, e.g., 5]] days after the Effective Date.

17. Deed of Conveyance

Seller shall execute and deliver a [[General/Special Warranty]] Deed at closing. The Deed shall be prepared by the closing agent/attorney and shall convey the Property to Buyer in the vesting stated in Section 2. The Deed must be acknowledged before a notary public and recorded in the [[County]] County circuit clerk's office (real estate records) in accordance with Arkansas law. Seller shall deliver a completed Form 1099-S to the closing agent where required for IRS reporting.

18. Closing Date; Time and Location

Closing shall occur on or before [[Closing Date]] ("Closing Date"), or such other date as mutually agreed in writing, at [[Closing Location, e.g., offices of title company / closing agent]]. Time is of the essence as to the Closing Date (Section 41). Either party may extend the Closing Date by up to [[Extension Period, e.g., 10]] calendar days upon written notice delivered at least [[Extension Notice Period, e.g., 3]] days before the originally scheduled closing, provided the extending party is not then in default.

19. Closing Costs

Closing costs split is negotiable and shall be allocated as follows (or per lender requirements if financed):

Seller's Costs (unless otherwise agreed): Real estate commissions; deed preparation and execution; Arkansas documentary/transfer taxes (if applicable under Ark. Code); satisfaction/payoff of existing mortgages, liens, and judgments; attorney's fees for Seller's closing representation (if any); any agreed repair credits or seller-paid costs; owner's title policy premium (if allocated to Seller); and any costs expressly allocated to Seller in this Agreement.

Buyer's Costs (unless otherwise agreed): Loan origination and lender fees; lender's title insurance premium; recording fees for the deed, mortgage, and any other documents; owner's title insurance premium (if allocated to Buyer); survey costs (if ordered by Buyer); home inspection fees; appraisal fee; prepaid interest, insurance escrows, and impounds; attorney's fees for Buyer's closing representation (if any); HOA transfer fees (if any); and any costs expressly allocated to Buyer in this Agreement or by lender requirements.

Proration: Real property taxes and assessments shall be prorated as of the Closing Date based on the most recent available tax bill using a 365-day calendar year. HOA dues (if any) shall be prorated. Any supplemental or corrected tax bill for periods through closing shall be Seller's responsibility. Rents, if any, shall be prorated. Utilities shall be placed in Buyer's name as of the Closing Date and Seller shall pay all utility charges through the Closing Date.

20. Survey

☐ Buyer shall obtain, at Buyer's expense, a current [[Survey Type, e.g., mortgage location / boundary / ALTA land title]] survey by a licensed Arkansas surveyor within [[Survey Deadline, e.g., 15]] days after the Effective Date.
☐ Seller shall provide Buyer with a copy of any existing survey Seller has in Seller's possession within [[Days, e.g., 5]] days after the Effective Date.
☐ No survey is required under this Agreement.

If the survey reveals an encroachment, overlap, boundary dispute, or other matter that is unacceptable to Buyer, Buyer shall notify Seller in writing within [[Survey Objection Period, e.g., 3 business]] days after receipt of the survey report. Such matters shall be treated as title objections and governed by Section 14.

21. Possession

Buyer shall receive possession of the Property:

☐ At closing and funding.
☐ On [[Post-Closing Possession Date]], pursuant to a Post-Closing Occupancy Agreement (Addendum). If Seller remains in possession after closing, Seller shall pay Buyer occupancy fees of $[[Post-Closing Occupancy Fee per Day]] per day and shall maintain the Property and any existing insurance coverages during the occupancy period. Seller shall surrender possession by [[Possession Surrender Date and Time]]., -

ARTICLE V, PROPERTY CONDITION AND DISCLOSURES

22. Seller's Representations and Warranties

Seller represents and warrants to Buyer that, to Seller's actual knowledge:

1. Seller has good and marketable title to the Property, free and clear of liens and encumbrances except as disclosed or permitted herein.

2. There are no pending or threatened legal proceedings affecting the Property except as disclosed in writing.

3. Seller has not received notice of any pending or proposed special assessments, eminent domain, or zoning changes affecting the Property except as disclosed.

4. The Property is not in violation of any applicable law, ordinance, or regulation of which Seller has knowledge, except as may be disclosed in the Seller Property Disclosure.

5. There are no known hazardous substances or environmental conditions on the Property other than as disclosed to Buyer in writing.

23. Property Condition

Except as expressly set forth in this Agreement or in any required disclosure, the Property is sold in its present condition, "as is," with all faults. Buyer acknowledges that Buyer has had (or will have during the Due-Diligence Period) the opportunity to inspect the Property and is not relying on any representation by Seller, broker, or agent regarding condition except as stated in writing in this Agreement or the Seller Property Disclosure.

24. Seller Property Disclosure

Seller shall provide to Buyer a completed Arkansas Seller Property Condition Disclosure (or equivalent form commonly used in Arkansas transactions) [[Disclosure Timing, e.g., within 3 business days after Effective Date or prior to execution as agreed]].

The disclosure shall cover known material defects in the structure, systems, appliances, roof, foundation, plumbing, electrical, HVAC, environmental conditions, flooding history, and any other matters required or customarily disclosed in Arkansas residential transactions.

Buyer acknowledges receipt of the disclosure (or request for disclosure) and that receipt of the disclosure does not limit Buyer's right to conduct independent inspections or waive contingencies. If Seller fails to provide a requested disclosure within the agreed time, Buyer may terminate this Agreement and receive a refund of Earnest Money.

Note on Arkansas Law: While Arkansas does not impose a universal statutory seller disclosure obligation on every unrepresented seller, disclosure is standard practice in most brokered residential transactions and is required by the terms of this Agreement. Seller warrants the disclosure to be true and complete to Seller's actual knowledge as of the date signed (per Ark. Code Ann. § 17-42-101 et seq. and common Arkansas Realtors Association contract practices).

25. Lead-Based Paint Disclosure (if pre-1978)

If the Property was built before 1978, Seller shall provide the required federal lead-based paint disclosure and pamphlet prior to or with execution of this Agreement (42 U.S.C. § 4852d). Buyer shall have 10 days to conduct lead-based paint inspection/risk assessment unless waived in writing.

26. Flood Hazard / Other Disclosures

Flood hazard status or flood zone of the Property (if known or required): [[Flood Hazard Status or "Unknown, Buyer to verify with FEMA maps or insurance agent"]]

Any other required or agreed disclosures (e.g., registered sex offender information availability, methamphetamine contamination if applicable under state law, etc.): [[Additional Disclosures]], -

ARTICLE VI, DEFAULT, REMEDIES, AND GENERAL PROVISIONS

27. Default by Buyer

If Buyer fails to perform any obligation under this Agreement (including failure to close when required), and fails to cure after written notice where required by law or this Agreement, Seller may:

(a) Terminate this Agreement and retain the Earnest Money as liquidated damages (not as a penalty), which the parties agree is a reasonable estimate of Seller's damages; or

(b) Pursue any other remedies available at law or in equity, including specific performance.

28. Default by Seller

If Seller fails to perform any obligation (including failure to convey marketable title or close when required), Buyer may:

(a) Terminate this Agreement and receive a full refund of the Earnest Money plus reimbursement of reasonable documented out-of-pocket inspection and appraisal costs up to a cap of $[[Buyer Cost Reimbursement Cap]]; or

(b) Pursue specific performance or other remedies available at law or in equity.

29. Risk of Loss

Risk of loss or damage to the Property by fire or other casualty remains with Seller until closing. If the Property is materially damaged prior to closing, Buyer may terminate and receive a refund of Earnest Money or proceed to closing with an assignment of insurance proceeds (subject to lender approval).

30. Earnest Money Disputes

In the event of a dispute over disposition of the Earnest Money, Escrow Holder may interplead the funds into court or follow the written agreement of the parties. Escrow Holder shall be entitled to recover reasonable fees and costs from the interpleaded funds or from the non-prevailing party.

31. Notices

All notices under this Agreement shall be in writing and delivered by hand, certified mail, overnight courier, or electronic transmission (email with read receipt or confirmed delivery) to the addresses set forth herein or such other address as a party may designate in writing. Notice is effective upon receipt or, if sent by certified mail, three (3) business days after mailing.

32. Assignment

Buyer shall not assign this Agreement without Seller's prior written consent, which may be withheld in Seller's reasonable discretion. Any permitted assignment does not release Buyer unless Seller expressly releases Buyer in writing.

33. Entire Agreement; Amendments

This Agreement, including all addenda and exhibits, constitutes the entire agreement between the parties and supersedes all prior negotiations, representations, and agreements. It may be amended only by a written instrument signed by both parties.

34. Severability

If any provision of this Agreement is held invalid or unenforceable, the remaining provisions shall continue in full force and effect.

35. Governing Law; Venue

This Agreement shall be governed by and construed in accordance with the laws of the State of Arkansas. Any action arising out of this Agreement shall be brought in the state or federal courts located in [[County]] County, Arkansas.

36. Time of Essence

Time is of the essence with respect to all dates and time periods set forth in this Agreement.

37. Electronic Signatures

This Agreement and any addenda may be signed in counterparts and by electronic signature (including DocuSign or similar), which shall have the same legal effect as original ink signatures under the Arkansas Uniform Electronic Transactions Act and federal E-SIGN Act.

38. Attorney Fees

In any action or proceeding to enforce rights under this Agreement, the prevailing party shall be entitled to recover reasonable attorneys' fees and costs from the other party as permitted by Arkansas law.

39. Servicemembers Civil Relief Act

If Buyer or Seller is a servicemember entitled to protections under the Servicemembers Civil Relief Act (50 U.S.C. § 3901 et seq.), that party may exercise rights of termination or other relief upon proper notice and documentation.

40. Additional Provisions

[[Insert any additional negotiated terms, special stipulations, or addenda references here, or state "None."]], -

SIGNATURE BLOCK / EXECUTION

BY SIGNING BELOW, each party acknowledges having read, understood, and agreed to all terms of this Agreement., -

SELLER(S)

Signature: _______________________________
Printed Name: [[Seller Full Legal Name]]
Date: ____________________

Signature: _______________________________
Printed Name: [[Co-Seller Full Legal Name, if applicable]]
Date: ____________________, -

BUYER(S)

Signature: _______________________________
Printed Name: [[Buyer Full Legal Name]]
Date: ____________________

Signature: _______________________________
Printed Name: [[Co-Buyer Full Legal Name, if applicable]]
Date: ____________________, -

ESCROW / TITLE COMPANY ACKNOWLEDGMENT

Receipt of signed Agreement and Earnest Money of $[[Earnest Money Amount]] acknowledged on ________________.

Escrow Officer / Authorized Agent: _______________________________
Printed Name / Title: [[Escrow Officer Name]]
Company: [[Title Company Name]]
Date: ____________________, -

CONTINGENCY AND KEY DATE TIMELINE SUMMARY (Max 6 columns)

*Template, not professional legal advice. This form is provided for informational and educational purposes only and does not constitute legal, tax, or real estate advice. Arkansas real estate transactions involve complex legal requirements and local practices. Consult a licensed Arkansas real estate attorney and a licensed Arkansas real estate professional before signing any purchase agreement. All statutes and practices referenced are as of June 2026; verify against current Arkansas Code, Arkansas Real Estate Commission rules, and the Arkansas Realtors Association forms before use.*

*Sources and references: Arkansas Code Annotated provisions governing real property conveyances and broker duties (including Ark. Code Ann. § 17-42-101 et seq. and related real estate commission provisions); standard Arkansas purchase contract practices for earnest money, contingencies, inspection periods (typically 10 days), title, closing costs allocation (negotiable), and seller disclosures in brokered transactions; federal requirements for lead-based paint, FHA/VA, and E-SIGN. As of June 2026.*