AI Pennsylvania Purchase Agreement

ARTICLE I - PARTIES AND PROPERTY

1. Seller

Seller: [[Seller Full Legal Name(s)]], whose address for notices under this Agreement is [[Seller Notice Address]]. If Seller is married and the Property is not Seller's separate property, both spouses should execute this Agreement.

2. Buyer

Buyer: [[Buyer Full Legal Name(s)]], whose address for notices is [[Buyer Notice Address]]. Buyer shall take title as: [[Vesting - e.g., husband and wife / joint tenants with right of survivorship / tenants in common / sole owner]].

3. Property Description

Seller agrees to sell and convey to Buyer the real property located at [[Property Street Address]], [[City]], Pennsylvania [[ZIP Code]], County of [[County Name]] (the "Property").

Legal Description: [[Full Legal Description from Deed, Survey, or Title Commitment - attach if lengthy]]

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

The Property includes the land, all buildings, improvements, fixtures, and appurtenances thereon or attached thereto, including but not limited to built-in appliances, heating and cooling systems, plumbing and electrical systems, water heaters, ceiling fans, window treatments, light fixtures, garage door openers, and landscaping, unless excluded in Section 5.

4. Included Personal Property

The following items of personal property are included in the Purchase Price and shall convey with the Property at Closing: [[List Included Personal Property, e.g., refrigerator, washer, dryer, window air conditioners, riding mower, or "All existing appliances and fixtures in 'as-is' working condition at time of showing unless otherwise noted"]]

5. Excluded Personal Property

The following items are excluded and shall be removed by Seller prior to Closing: [[List Excluded Items or "None"]]

Seller shall repair any damage caused by removal of excluded items.

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ARTICLE II - PURCHASE PRICE, EARNEST MONEY, AND DEPOSITS

6. Purchase Price

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

7. Earnest Money Deposit

Within [[Earnest Money Deposit Deadline - e.g., 3 Business Days]] after the Effective Date (or upon removal of inspection contingency if later), Buyer shall deposit $[[Earnest Money Amount]] ("Earnest Money") with [[Escrow Agent / Title Company Name]] ("Escrow Agent"), located at [[Escrow Agent Address]]. The Earnest Money shall be held in a non-interest-bearing escrow account (or interest-bearing if required by agreement or law) pending Closing or earlier termination. The Earnest Money is part of the Purchase Price.

8. Additional Deposits and Financing

Buyer intends to obtain financing as follows: [[Conventional / FHA / VA / USDA / Cash / Other - specify lender if known]]

Loan Amount: $[[Loan Amount]]

Down Payment: $[[Down Payment Amount]]

Buyer shall make application for financing within [[Financing Application Deadline - e.g., 5 Business Days]] after the Effective Date and shall pursue the loan diligently.

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ARTICLE III - CONTINGENCIES AND DUE DILIGENCE

9. Financing Contingency

This Agreement is contingent upon Buyer obtaining a firm mortgage commitment on terms acceptable to Buyer within [[Financing Contingency Period - e.g., 30 Days]] after the Effective Date (or such longer period as may be agreed). If Buyer is unable to obtain financing despite good-faith efforts, Buyer may terminate this Agreement by written notice to Seller within the contingency period, and the Earnest Money shall be returned to Buyer.

10. Appraisal Contingency

This Agreement is contingent upon the Property appraising at or above the Purchase Price (or such other amount acceptable to Buyer and lender) within [[Appraisal Contingency Period - e.g., 30 Days]]. If the appraisal is lower, Buyer may terminate or renegotiate; otherwise the contingency is waived or satisfied.

11. Inspection / Due Diligence Contingency

Buyer shall have the right to conduct inspections of the Property (structural, mechanical, environmental, pest, radon, etc.) during a due diligence period of [[Inspection Period - e.g., 10 Business Days or 14 Calendar Days]] after the Effective Date. Buyer may terminate this Agreement for any reason or no reason during this period by written notice and receive return of the Earnest Money. After the inspection period, Buyer accepts the Property in its present condition subject to any repairs negotiated in an addendum.

Buyer is advised to obtain professional inspections. Seller shall provide reasonable access for inspections.

12. Sale of Buyer's Current Home Contingency (if applicable)

This Agreement is contingent upon the closing of the sale of Buyer's current residence located at [[Buyer's Current Home Address or "N/A"]]. Deadline for satisfaction: [[Home Sale Contingency Deadline]]. If not satisfied, Buyer may terminate and receive return of Earnest Money.

13. HOA / Condominium Documents Contingency (if applicable)

If the Property is subject to a homeowners association, condominium association, or planned community, Seller shall deliver to Buyer within [[HOA Document Delivery Deadline - e.g., 5 Business Days]] after the Effective Date: the declaration, bylaws, rules, budget, most recent financial statements, and any resale certificate or disclosure required by 68 Pa.C.S. §3407 or applicable law. Buyer shall have [[HOA Review Period - e.g., 5 Business Days]] after receipt to review and terminate if dissatisfied.

14. Seller's Property Disclosure Statement (SPD) Delivery and Rescission

Seller shall deliver the completed Pennsylvania Seller's Property Disclosure Statement (SPD) compliant with 68 Pa.C.S. §7301 et seq. to Buyer prior to or upon execution of this Agreement (or within such time as required by law).

Buyer acknowledges that Buyer has three (3) business days after receipt of the SPD (or such other period stated in the SPD or agreement) to rescind this Agreement in writing. If Buyer rescinds timely due to the SPD, the Earnest Money shall be returned.

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ARTICLE IV - TITLE, SURVEY, AND CLOSING

15. Title and Title Insurance

Seller shall convey marketable title to the Property by special warranty deed (or general warranty deed if agreed), free and clear of all liens, encumbrances, and exceptions except: current real estate taxes not yet due and payable, easements and restrictions of record that do not materially impair use, and any other exceptions approved by Buyer in writing.

Buyer shall obtain, at Buyer's expense (unless otherwise negotiated), an owner's policy of title insurance in the amount of the Purchase Price issued by a title company acceptable to Buyer and lender, using ALTA standard form or equivalent. Seller shall provide a current title commitment and copies of all exceptions within [[Title Commitment Deadline - e.g., 10 Business Days]] after the Effective Date.

16. Survey

Buyer may obtain a survey or ALTA survey at Buyer's expense. Seller shall cooperate in providing access and existing surveys. Any survey objection must be raised within [[Survey Review Period]] days after receipt.

17. Closing and Possession

Closing shall occur on or before [[Closing Date]] at the offices of the Escrow Agent or such other location as the parties agree. Possession shall be delivered to Buyer at Closing (or on [[Possession Date if different]]), subject to the rights of any tenants disclosed in writing. At Closing, Seller shall deliver the deed, keys, codes, remote controls, and all documents reasonably required to transfer title and possession.

18. Prorations and Adjustments

Real estate taxes, assessments, rents, HOA fees, fuel, and other items shall be prorated as of the Closing Date on a per diem basis using the latest available figures. Security deposits held by Seller for any tenants shall be transferred to Buyer at Closing.

19. Deed Transfer Tax

Pennsylvania state and local realty transfer taxes total two percent (2%) of the greater of the Purchase Price or assessed value (subject to local rates and any exemptions). Unless otherwise agreed in writing, the tax is customarily split equally between Buyer and Seller (1% each), but the parties may negotiate a different allocation. Any local transfer tax surcharge or other fees shall be allocated as required by law or agreement. Seller and Buyer shall execute any required transfer tax statements or affidavits at Closing.

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ARTICLE V - REPRESENTATIONS, DEFAULT, AND REMEDIES

20. Seller Representations

Seller represents that, to Seller's actual knowledge: (a) Seller has the authority to sell the Property; (b) there are no pending or threatened legal proceedings affecting the Property except as disclosed; (c) the Property is not in violation of any law that would materially affect value or use, except as disclosed in the SPD or otherwise in writing; and (d) all known material defects have been disclosed in the SPD as required by law.

21. Default by Buyer

If Buyer defaults and fails to cure within any applicable notice period, Seller may: (a) retain the Earnest Money as liquidated damages (not a penalty); (b) pursue specific performance or other remedies available at law or equity; or (c) both, to the extent permitted. Acceptance of the Earnest Money as liquidated damages is Seller's sole and exclusive remedy for Buyer's default in many standard forms.

22. Default by Seller

If Seller defaults, Buyer may: (a) terminate and receive return of the Earnest Money plus reimbursement of reasonable inspection and financing costs; (b) seek specific performance; or (c) pursue damages at law.

23. Risk of Loss

Risk of loss or damage to the Property prior to Closing remains with Seller. If the Property is substantially damaged before Closing, Buyer may terminate and receive return of the Earnest Money, or proceed to Closing with an assignment of insurance proceeds and appropriate price adjustment.

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ARTICLE VI - MISCELLANEOUS PROVISIONS

24. Lead-Based Paint Disclosure Addendum

If the Property was built before 1978, the federal lead-based paint disclosure and EPA pamphlet must be provided as an addendum to this Agreement. Buyer shall have the opportunity to conduct a risk assessment or inspection for lead-based paint hazards (typically 10 days unless otherwise agreed).

25. Notices

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

26. Entire Agreement; Amendments

This Agreement, including all addenda and exhibits attached hereto, 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.

27. Governing Law and Venue

This Agreement shall be governed by and construed in accordance with the laws of the Commonwealth of Pennsylvania. Any dispute shall be venued in the county where the Property is located or as otherwise agreed.

28. Severability; Waiver

If any provision is held invalid or unenforceable, the remaining provisions shall continue in full force. No waiver of any breach shall constitute a waiver of any other or subsequent breach.

29. Earnest Money Disposition upon Termination

Upon mutual written agreement of the parties or upon proper termination under a contingency, the Escrow Agent is authorized to release the Earnest Money to the party entitled under this Agreement. If the parties disagree, the Escrow Agent may interplead the funds or follow applicable law or the agreement of the parties.

30. 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 to the extent permitted by Pennsylvania law.

31. Counterparts and Electronic Signatures

This Agreement may be executed in counterparts, each of which shall be deemed an original. Electronic signatures and PDF or electronic transmission of signed copies are valid and binding.

32. Time of Essence

Time is of the essence with respect to all dates and deadlines in this Agreement.

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ARTICLE VII - SIGNATURES

SELLER

Signature: ________________________________ Date: [[Date]]

Printed Name: [[Seller Full Name]]

Signature: ________________________________ Date: [[Date]]

Printed Name: [[Seller Full Name]]

BUYER

Signature: ________________________________ Date: [[Date]]

Printed Name: [[Buyer Full Name]]

Signature: ________________________________ Date: [[Date]]

Printed Name: [[Buyer Full Name]]

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ADDENDA AND EXHIBITS (Check all that apply and attach)

• [ ] Lead-Based Paint Disclosure Addendum (required if pre-1978)

• [ ] Seller's Property Disclosure Statement (SPD)

• [ ] Financing Addendum / Pre-Approval Letter

• [ ] Inspection Contingency / Repair Addendum

• [ ] HOA / Condominium Resale Certificate and Documents

• [ ] Sale of Buyer's Home Contingency Addendum