AI Louisiana Purchase Agreement

Generate a complete, ready-to-use Louisiana Residential Purchase and Sale Agreement (Act of Sale), enter property details, purchase price, parties, contingencies, and dates to receive a fully drafted contract including Louisiana-specific earnest money escrow rules, Property Disclosure Statement requirements, title commitment and clear title obligations, financing and appraisal contingencies, inspection timelines, agent disclosures, and notarized Act of Sale closing procedures., -

LOUISIANA RESIDENTIAL PURCHASE AND SALE AGREEMENT

This Residential Purchase and Sale Agreement (this "Agreement") is entered into as of [[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. This Agreement shall be consummated by an Act of Sale (Louisiana Civil Code Arts. 2589 et seq.) executed before a notary public and two witnesses at closing., -

ARTICLE I, PARTIES AND PROPERTY

1. Seller

Seller: [[Seller Full Legal Name(s)]], residing at [[Seller Current Address]]. If Seller is married, both spouses must execute this Agreement and the Act of Sale unless the Property is the separate property of one spouse under Louisiana law.

2. Buyer

Buyer: [[Buyer Full Legal Name(s)]], whose address for notice is [[Buyer Mailing Address]]. Buyer shall take title as: [[Vesting, e.g., in the name of Buyer alone / husband and wife / with right of survivorship if applicable]].

3. Property Description

Seller agrees to sell and convey to Buyer the immovable property (the "Property") located at:

[[Property Street Address]]
[[City]], Louisiana [[ZIP Code]]
Parish of [[Parish Name]]

Legal Description (from current deed or survey):

[[Full Legal Description, Lot, Square, Subdivision, Parish, Book/Page or Other Official Reference]]

Tax Parcel ID / Assessment Number: [[Tax Parcel / Assessment Number]]

The Property includes all buildings, improvements, component parts, and appurtenances, including but not limited to all fixtures, built-in appliances, central HVAC, water heaters, ceiling fans, window treatments, garage door openers, landscaping, and any items that would pass with an Act of Sale under Louisiana law, except those items expressly excluded in Section 4.

4. Personal Property Included and Excluded

Included personal property (conveyed at no additional cost): [[List of Included Items, e.g., refrigerator, washer, dryer, window air conditioning units, riding lawn mower]].

Excluded personal property (to be removed by Seller prior to closing): [[List of Excluded Items, e.g., seller's personal furniture not listed above, specific light fixtures, backyard playset]]. Seller shall repair any damage caused by removal., -

ARTICLE II, PURCHASE PRICE AND EARNEST MONEY

5. Purchase Price

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

6. Earnest Money Deposit

Within [[Earnest Money Deposit Deadline, e.g., 3 business days]] after the Effective Date, Buyer shall deposit $[[Earnest Money Amount]] (the "Earnest Money") with [[Escrow Agent / Title Company Name]] ("Escrow Holder") at [[Escrow Holder Address]]. The Earnest Money shall be held in a federally insured escrow or trust account.

Earnest Money is non-refundable except as expressly provided in this Agreement upon termination in accordance with a contingency or Seller default. Disposition of Earnest Money upon default shall follow Section 28.

7. Financing Contingency

☐ All Cash. Buyer represents sufficient funds and shall provide proof of funds within [[Proof of Funds Deadline, e.g., 5 business days]] after Effective Date. No financing contingency.

☐ Financing Contingency. This Agreement is contingent upon Buyer obtaining a written loan commitment on terms acceptable to Buyer, including:

• Loan Type: [[Loan Type, Conventional / FHA / VA / Other]]
• Loan Amount: up to $[[Maximum Loan Amount]]
• Maximum Interest Rate: [[Maximum Interest Rate, e.g. 7.25%]]
• Loan Term: [[Loan Term in Years, e.g., 30]] years
• Commitment Deadline: [[Financing Commitment Deadline, date]]

Buyer shall apply for financing within [[Loan Application Deadline, e.g., 5 business days]] and pursue it diligently. If Buyer cannot obtain financing meeting these terms by the deadline through no fault of Buyer, Buyer may terminate by written notice and receive refund of Earnest Money. Failure to give timely notice waives the contingency.

8. Appraisal Contingency

This Agreement is contingent on the Property appraising for at least the Purchase Price.

Buyer shall order appraisal within [[Appraisal Order Deadline, e.g., 7 days]] after Effective Date. If appraised value is less than Purchase Price, Buyer shall notify Seller in writing within [[Appraisal Objection Deadline]] and may:

1. Terminate and receive Earnest Money refund.

2. Proceed at the Purchase Price (waiving contingency).

3. Negotiate price reduction. Seller has [[Seller Response Period, e.g., 3 business days]] to respond. If no agreement, Buyer may terminate.

Failure to deliver timely notice waives this contingency., -

ARTICLE III, INSPECTIONS AND DUE DILIGENCE

9. Inspection and Due-Diligence Period

Buyer shall have [[Due Diligence / Inspection Period, e.g., 10 calendar days]] after the Effective Date to conduct inspections at Buyer's expense, including:

• General home inspection by licensed inspector

• Structural, foundation, roof, electrical, plumbing, and HVAC inspections

• Termite / wood-destroying insect inspection (Louisiana requires licensed inspectors per La. R.S. 3:3361 et seq.)

• Lead-based paint, mold, asbestos, and environmental testing (if applicable)

• Survey (boundary or mortgage inspection survey)

• Septic system and/or well testing (if applicable)

• Pool and spa inspection (if applicable)

Seller shall provide reasonable access upon at least [[Notice Period for Entry, e.g., 24 hours]] notice. Buyer shall restore Property and be responsible for any damage caused by inspections.

By the end of the period, Buyer shall deliver written notice of: (a) termination; (b) repair request; or (c) waiver of objections. Failure to deliver timely notice constitutes acceptance in "as-is" condition subject to Seller's disclosures and representations.

10. Property Disclosure Statement

Pursuant to La. R.S. 9:3198, Seller shall deliver to Buyer a completed Property Disclosure Statement (the "PDS") within [[PDS Delivery Deadline, e.g., 5 business days]] after the Effective Date or prior to signing this Agreement, whichever is earlier. The PDS discloses known material defects in the Property's structure, systems, and appliances.

Buyer acknowledges receipt of the PDS by signing below or separate acknowledgment. Seller's failure to provide timely PDS gives Buyer the right to terminate within [[PDS Termination Window, e.g., 3 business days after receipt]] and receive Earnest Money refund., -

ARTICLE IV, TITLE, ESCROW, AND CLOSING

11. Title Commitment and Examination

Within [[Title Commitment Deadline, e.g., 15 days]] after Effective Date, [[Party Ordering Title, typically Seller]] shall order a title commitment for an owner's title insurance policy in the amount of the Purchase Price from [[Title Company / Escrow Agent Name]].

Buyer shall have [[Title Review Period, e.g., 5 business days]] after receipt to object in writing to title defects. Seller shall have [[Seller Cure Period, e.g., 10 days]] to cure. If uncured, Buyer may terminate or waive.

At closing, Seller shall deliver good, merchantable, and clear title, free of all liens and encumbrances except permitted exceptions (current taxes not yet due, easements of record not materially impairing use, zoning, etc.).

12. Act of Sale and Closing

Closing shall occur on or before [[Closing Date]] at the office of [[Closing Notary / Title Company / Attorney Name and Address]] or other mutually agreed location.

The transaction shall be closed by execution of an Act of Sale before a Louisiana notary public and two witnesses, in accordance with Louisiana Civil Code Art. 2589 et seq. The Act of Sale shall be recorded in the conveyance records of the Parish of [[Parish Name]].

Possession shall be delivered at closing unless otherwise agreed in writing in a post-closing occupancy addendum.

13. Closing Costs and Prorations

Seller pays: real estate commissions, any existing mortgage payoffs, prorated property taxes to closing, transfer taxes if applicable, Seller's notary/closing fees, and costs of clearing title.

Buyer pays: owner's and lender's title insurance premiums (or per local custom), recording fees for deed/Act of Sale and mortgage, survey, inspection, appraisal, loan fees, and Buyer's notary/closing representation if any.

Taxes, HOA fees, rents, and assessments shall be prorated as of the closing date.

14. Agent Disclosure

Pursuant to La. R.S. 37:1455, any real estate agent or broker involved in this transaction discloses: [[Agent/Broker Disclosure, e.g., Listing Agent represents Seller; Buyer's Agent represents Buyer; or Dual Agency with consent]]. All parties acknowledge the agency relationships disclosed in the attached Agency Disclosure Addendum., -

ARTICLE V, CONTINGENCIES, DEFAULT, AND REMEDIES

15. Sale of Buyer's Current Home Contingency (Optional)

☐ This Agreement is contingent on Buyer selling Buyer's current home at [[Buyer's Current Home Address]] on or before [[Home Sale Deadline]]. If not sold by deadline, Buyer may terminate with Earnest Money refunded.

16. HOA / Condominium Documents

If the Property is subject to a homeowners association or condominium regime, Seller shall deliver current HOA documents, bylaws, rules, financials, and resale certificate within [[HOA Document Delivery Deadline, e.g., 5 business days]]. Buyer has [[HOA Review Period, e.g., 5 days]] to review and may terminate if unacceptable.

17. Default and Remedies

If Buyer defaults, Seller may terminate and retain the Earnest Money as liquidated damages (reasonable estimate of actual damages), or pursue other remedies.

If Seller defaults, Buyer may terminate and receive Earnest Money refund plus actual damages, or seek specific performance.

18. Notices

All notices shall be in writing and deemed delivered when personally delivered, sent by certified mail, or by email with read receipt to the addresses in this Agreement or as updated in writing., -

SIGNATURES

IN WITNESS WHEREOF, the parties have executed this Agreement as of the Effective Date.

SELLER:

_______________________________________________
[[Seller Full Legal Name(s)]]
Date: [[Seller Signature Date]]

BUYER:

_______________________________________________
[[Buyer Full Legal Name(s)]]
Date: [[Buyer Signature Date]], -

NOTARY ACKNOWLEDGMENT (to be completed at closing)

STATE OF LOUISIANA
PARISH OF [[Parish Name]]

On this [[Closing Date]], before me, the undersigned notary public, personally appeared the above-named Seller and Buyer, who acknowledged that they executed the foregoing instrument as their free act and deed for the purposes therein contained.

_______________________________________________
Notary Public, State of Louisiana
Notary ID / Bar Roll No.: [[Notary ID]]
My commission expires: [[Notary Commission Expiration]]

Witness 1: _______________________________
Witness 2: _______________________________, -

EXHIBITS

Exhibit A, Property Disclosure Statement (La. R.S. 9:3198), to be attached
Exhibit B, Lead-Based Paint Disclosure (if pre-1978)
Exhibit C, Financing Addendum (if applicable)
Exhibit D, Repair Addendum (if any)
Exhibit E, Agency Disclosure Form, -

Template, not professional legal, financial, or real estate advice. Laws change; verify current requirements with a licensed Louisiana attorney or title professional. All figures and timelines are typical and must be confirmed for the specific transaction. This document uses [[Token Name]] placeholders for user-supplied information.

Key Louisiana Authorities (as of 2026): Louisiana Civil Code Arts. 2589 et seq. (Sale); La. R.S. 9:3198 (Property Disclosure); La. R.S. 37:1455 (Agency Disclosure); La. R.S. Title 9, Chapter 2 (Title); standard title commitment and escrow practices., -

> ⚠️ Template example, not professional (legal/financial/medical) advice. Figures and clauses must be verified for the applicable jurisdiction and kept current. All variable inputs use [[Token Name]] format.