Maine Purchase Agreement

Agreement Date: [[Agreement Date]]

Seller: [[Seller Full Legal Name(s)]]
[[Seller Address]]
[[City]], Maine [[ZIP Code]]

Buyer: [[Buyer Full Legal Name(s)]]
[[Buyer Address]]
[[City]], Maine [[ZIP Code]]

Seller and Buyer (collectively, the "Parties") agree as follows., -

IMPORTANT, MAINE IS AN ATTORNEY-CLOSING STATE

In Maine, residential real estate closings are customarily conducted by a licensed Maine attorney who also typically examines title and issues the title insurance commitment or policy. Earnest money is held in escrow by a real estate broker or the closing attorney. The deed is recorded with the County Registry of Deeds after closing., -

1. Property

Seller agrees to sell and convey, and Buyer agrees to purchase, the real property located at:

Property Address: [[Property Address]]
[[City]], Maine [[ZIP Code]]

Legal Description: [[Legal Description or "See Exhibit A attached"]]

The property includes the land, all buildings and improvements, fixtures, and appurtenances, subject only to easements, restrictions, and encumbrances of record that do not materially adversely affect use as a [[single-family residence / as currently used]].

Included personal property / fixtures: [[List or "All existing appliances, window treatments, and lighting fixtures currently on the property"]].

Excluded items: [[List or "None"]].

2. Purchase Price and Payment

Purchase Price: $[[Purchase Price]]

The Purchase Price is payable as follows:

1. Earnest Money Deposit of $[[Earnest Money Deposit Amount]] (typically 1-3% of Purchase Price) delivered to the escrow agent (broker or closing attorney) within [[Earnest Money Deadline, e.g. 3 business days]] after mutual execution of this Agreement.

2. Additional deposit (if any) of $[[Additional Deposit Amount]] due by [[Additional Deposit Deadline]].

3. Balance of the Purchase Price due at Closing by wire transfer, certified check, or attorney's trust account check, subject to prorations and adjustments.

3. Earnest Money

Earnest money shall be held in a trust account by [[Escrow Agent Name, Broker or Closing Attorney]] at [[Escrow Agent Bank / Contact]].

If this Agreement is terminated in accordance with its terms, the earnest money shall be returned to Buyer or disbursed as agreed in writing by the Parties or as directed by a court of competent jurisdiction. Broker or attorney holding funds shall follow Maine Real Estate Commission rules regarding disputed deposits.

4. Financing Contingency

This Agreement is contingent upon Buyer obtaining a firm mortgage commitment on terms acceptable to Buyer within [[Financing Contingency Period, typically 21 to 30 days]] after the Effective Date.

Buyer shall apply for financing promptly and pursue it in good faith. If Buyer is unable to obtain financing despite good-faith efforts, Buyer may terminate this Agreement by written notice to Seller prior to the end of the contingency period, and the earnest money shall be returned to Buyer.

If Buyer does not terminate within the period, the financing contingency is waived.

Loan Type / Lender (if known): [[Loan Type / Lender Name]]

5. Inspection Contingency

Buyer shall have the right to have the Property inspected by qualified inspectors of Buyer's choice during a [[Inspection Period, standard 10 days, negotiable]] period after the Effective Date.

Buyer may terminate this Agreement for any reason or no reason during the inspection period by delivering written notice to Seller, in which case the earnest money shall be returned to Buyer. Buyer may also negotiate repairs or price concessions.

If Buyer does not terminate or request repairs in writing within the inspection period, the inspection contingency is waived.

Seller shall provide reasonable access for inspections upon reasonable notice.

6. Title and Survey

Seller shall, at Seller's expense, deliver to Buyer or Buyer's attorney a current title insurance commitment (or preliminary title report) issued by a title company acceptable to Buyer, in the amount of the Purchase Price, insuring Buyer's fee simple title, subject only to standard exceptions and those listed in this Agreement.

Seller shall convey marketable title by warranty deed (or other deed as agreed) free and clear of liens and encumbrances except: current real estate taxes not yet due, easements and restrictions of record that do not materially impair use, and any other matters approved by Buyer in writing.

Buyer may obtain a survey or ALTA survey at Buyer's option and expense. Any survey objection must be raised within the inspection or title objection period.

7. Closing

Closing shall occur on or before [[Closing Date]], or on such other date as the Parties agree in writing. Closing shall take place at the office of [[Closing Attorney Name / Firm]], [[Closing Location Address]], or at such other place as agreed. A Maine-licensed attorney will conduct the closing.

At Closing, Seller shall deliver the deed, keys, and possession (unless otherwise agreed for post-closing occupancy). Buyer shall pay the balance of the Purchase Price and execute any required loan documents.

Possession shall be delivered at Closing unless a separate occupancy agreement is signed.

8. Prorations and Adjustments

Real estate taxes, rents, fuel, HOA/condo fees, and other items shall be prorated as of the Closing date using the [[calendar year / fiscal year]] basis or as customary in the county.

Maine Real Estate Transfer Tax (36 M.R.S.A. § 4641-A) is $2.20 per $500 (or fraction) of consideration. The tax is split equally between Buyer and Seller unless otherwise agreed in writing. The deed will not be recorded without payment or exemption.

9. Default and Remedies

If Buyer defaults, Seller may retain the earnest money as liquidated damages (not a penalty) or pursue other remedies available at law or equity.

If Seller defaults, Buyer may recover the earnest money plus actual damages or seek specific performance.

10. Representations and Warranties

Seller represents that Seller has the legal right to sell the Property and that, to Seller's actual knowledge, there are no pending or threatened legal proceedings affecting the Property except as disclosed in writing.

Except as expressly set forth in this Agreement or in any required disclosure, the Property is sold "as is" with all faults. Buyer acknowledges the opportunity to inspect.

11. Lead-Based Paint (Pre-1978)

If the Property was built before 1978, the federal lead-based paint disclosure requirements apply and are attached as an addendum or incorporated by reference. Buyer has received the required pamphlet and disclosure.

12. Other Disclosures and Addenda

The following are attached and made part of this Agreement:

• Lead-Based Paint Disclosure and Pamphlet (if pre-1978)
• [[Other required or agreed disclosures or addenda: Property Disclosure Statement, HOA docs, etc.]]

13. Miscellaneous

This Agreement constitutes the entire agreement between the Parties and supersedes all prior negotiations and representations. It may be amended only by a writing signed by both Parties.

This Agreement may be executed in counterparts and by electronic signature, which shall have the same force as originals.

This Agreement is binding upon and inures to the benefit of the Parties' heirs, successors, and permitted assigns.

Governing Law: This Agreement shall be governed by the laws of the State of Maine. Any dispute shall be resolved in the courts of [[County]], Maine.

Time is of the essence.

14. Signatures

SELLER:

_______________________________________ Date: _________
[[Seller Full Legal Name(s)]]

BUYER:

_______________________________________ Date: _________
[[Buyer Full Legal Name(s)]], -

Attorney / Escrow Acknowledgment (if applicable)

The undersigned closing attorney or escrow agent acknowledges receipt of the earnest money and agrees to hold and disburse it in accordance with this Agreement and applicable Maine law and rules.

_______________________________________ Date: _________
[[Attorney or Escrow Agent Name / Firm]], -

(End of Maine Purchase Agreement, Residential Purchase and Sale)

Note: This is a template. Maine attorney involvement at closing is standard practice. Consult a licensed Maine real estate attorney to adapt this Agreement to the specific transaction, local custom, and any lender or title company requirements. Required disclosures (including lead) must be delivered on time. Transfer tax must be paid or exempted at recording.

The earnest money shall be held in escrow by [[Title Company/Attorney Name]] ("Escrow Agent") in a non-interest-bearing account or as otherwise agreed. The escrow agent shall disburse the earnest money only upon written agreement of the Parties or pursuant to a court order. If the transaction fails to close due to Buyer's default, the earnest money may be retained by Seller as liquidated damages (not a penalty). If the transaction fails due to Seller's default or failure of a contingency, the earnest money shall be returned to Buyer.

5. Financing Contingency

This Agreement is contingent upon Buyer obtaining a firm mortgage commitment on terms acceptable to Buyer for at least [[Loan Amount or Percentage]] of the Purchase Price within the Financing Contingency Deadline.

Financing Contingency Deadline: [[Financing Contingency Deadline]]

If Buyer has not obtained a commitment by the deadline (or any extension agreed in writing), Buyer may terminate this Agreement by written notice to Seller and receive a full refund of the earnest money. Buyer shall make good-faith efforts to obtain financing.

6. Inspection Contingency

Buyer shall have the right to have the Property inspected by licensed professionals of Buyer's choice during the Inspection Period.

Inspection Contingency Deadline: [[Inspection Contingency Deadline]] (standard 10 business days from mutual execution unless otherwise stated)

Buyer may terminate this Agreement for any reason arising from the inspections by delivering written notice to Seller prior to the deadline, in which case the earnest money shall be returned to Buyer. After the deadline, this contingency is waived unless extended in writing. Buyer is advised to inspect for structural, mechanical, environmental, and code compliance issues.

7. Appraisal Contingency

This Agreement is contingent upon the Property appraising at or above the Purchase Price for the lender's purposes. If the appraisal is lower, Buyer may (a) renegotiate the price, (b) pay the difference in cash, or (c) terminate and receive the earnest money back, provided notice is given within [[Appraisal Notice Period, e.g., 5 days]] after receipt of the appraisal.

8. Sale of Buyer's Home Contingency (If Applicable)

☐ This Agreement is contingent on Buyer closing on the sale of Buyer's current home located at [[Buyer's Current Home Address]] by [[Buyer's Home Sale Deadline]].

If this contingency applies and the sale does not close by the deadline through no fault of Buyer, Buyer may terminate and receive the earnest money back.

9. Title and Survey

Seller shall convey marketable title to the Property by warranty deed, free and clear of all liens and encumbrances except for current taxes not yet due, easements and restrictions of record that do not materially impair use, and such other matters as Buyer has approved in writing.

Title Company / Closing Attorney: [[Title Company/Attorney Name]]

Buyer or Buyer's attorney shall order a title search and commitment. Buyer shall have [[Title Review Period, e.g., 15 days]] after receipt of the title commitment to object to any title defects. Seller shall have a reasonable time to cure objections. If title cannot be made marketable, Buyer may terminate and receive the earnest money back.

Buyer may obtain a survey at Buyer's expense if desired or required by lender.

10. Closing and Possession

Closing Date: [[Closing Date]] (typically 30, 60 days from signing)

Possession Date: [[Possession Date]] (at closing unless otherwise agreed)

Closing shall be conducted by the Title Company/Attorney Name or other licensed Maine closing attorney. At closing, Seller shall deliver the warranty deed, keys, and possession, and Buyer shall pay the balance of the Purchase Price and execute all required documents.

11. Prorations and Closing Costs

Taxes, rents, fuel, and other items shall be prorated as of the closing date. Seller shall pay any transfer taxes or stamps required by Maine law unless otherwise agreed. Each party shall pay its own attorney fees. Buyer shall pay recording fees for the deed and mortgage. Any HOA transfer or document fees shall be allocated per the declaration or as agreed.

12. Seller Disclosures and Property Condition

Seller has delivered or will deliver prior to or at signing the Maine Property Disclosure Statement required under Title 33 § 173 and all other required disclosures (including lead-based paint if applicable). Buyer acknowledges receipt of disclosures.

The Property is sold in its present "as-is" condition except as expressly set forth in this Agreement or the disclosures. Seller represents that, to Seller's actual knowledge, there are no material latent defects beyond those disclosed.

13. Default and Remedies

If Buyer defaults, Seller may retain the earnest money as liquidated damages and pursue additional remedies available at law or equity.

If Seller defaults, Buyer may terminate and receive the earnest money back, or pursue specific performance or damages.

Neither party shall be in default for failure to perform due to causes beyond reasonable control (force majeure).

14. Attorney Fees

In any action or proceeding arising out of this Agreement, the prevailing party shall be entitled to recover reasonable attorney fees and costs from the other party.

15. Notices

All notices under this Agreement shall be in writing and delivered by hand, certified mail, or email with read receipt to the addresses set forth above or to such other address as a party may designate in writing.

16. Entire Agreement; Amendments

This Agreement, including all exhibits and addenda, constitutes the entire agreement between the Parties and supersedes all prior negotiations and representations. No modification shall be binding unless in writing and signed by both Parties.

17. Severability and Governing Law

If any provision is held invalid, the remainder shall remain in effect. This Agreement shall be governed by the laws of the State of Maine.

18. Time of Essence

Time is of the essence for all dates and deadlines in this Agreement.

19. Binding Effect

This Agreement shall bind and benefit the Parties and their heirs, successors, and permitted assigns.

20. Exhibits and Attachments

The following exhibits are attached and incorporated:

• Exhibit A: Legal Description

• Exhibit B: Property Disclosure Statement

• Exhibit C: Lead-Based Paint Disclosure (if applicable)

• Exhibit D: Other Addenda or Contingency Riders

21. Maine-Specific Provisions

Attorney Closing: The Parties acknowledge that Maine customarily uses attorney-supervised closings. The closing attorney represents neither party exclusively unless engaged separately.

Warranty Deed: Seller shall deliver a statutory warranty deed unless a different form of deed is agreed.

Buyer Attorney Review: Buyer is advised to have this Agreement and title reviewed by a Maine-licensed attorney.

Earnest Money Custom: 1%, 3% of Purchase Price is customary; amounts outside this range should be confirmed with local practice.

Timeline Summary Table

22. Additional Terms

[[Additional Terms or Special Conditions, e.g., "Seller to complete roof repair prior to closing per attached estimate; Buyer to receive $X credit at closing for appliance allowance."]]

23. Signatures

Seller:

________________________________________
[[Seller Name]]

Date: ________________

Buyer:

________________________________________
[[Buyer Name]]

Date: ________________

(Attach additional signature lines for co-parties, witnesses, or notary if required for recording.)

Disclaimer and Sources

This is a template, not professional legal advice. Purchase agreements in Maine are governed by Title 33, common law, and Maine Real Estate Commission rules. Closing practices, contingency norms, and disclosure timing have jurisdiction-specific requirements. The Parties should each consult independent Maine-licensed counsel. This document does not replace legal representation or due diligence. Verify all deadlines, forms, and local customs before execution.

Sources (as of June 2026):
- Maine Revised Statutes Title 33 (Property)
- 32 M.R.S.A. § 13001 et seq. (Real Estate Commission)
- Maine Real Estate Commission forms and guidance
- Standard Maine attorney closing practices and title standards

Both Parties should retain originals or electronic copies of the fully executed Agreement and all attachments.