Tennessee Purchase Agreement

This Tennessee Residential Purchase and Sale Agreement is a comprehensive contract for the purchase of residential real property in Tennessee. Tennessee is a non-attorney state for residential real estate closings; title companies and closing agents commonly handle closings. The form incorporates standard contingencies, mandatory disclosure timing under TCA § 66-5-201, and earnest money rules requiring deposit into a licensed broker's trust account.

All user inputs are `[[Token Name]]` placeholders. Fixed Tennessee practices and statutory references are written in full., -

ARTICLE I, PARTIES AND PROPERTY

1. Parties

Seller: [[Seller Full Legal Name(s)]] ("Seller"), whose address for notices is [[Seller Notice Address]].

Buyer: [[Buyer Full Legal Name(s)]] ("Buyer"), whose address for notices is [[Buyer Notice Address]].

2. Property

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

[[Property Street Address]], [[City]], Tennessee [[ZIP Code]], County of [[County]]

Legal Description: [[Full Legal Description or "See attached Exhibit A or title commitment"]]

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

The Property includes all improvements, fixtures, and appurtenances unless excluded in writing., -

ARTICLE II, PURCHASE PRICE AND EARNEST MONEY

3. Purchase Price

Total Purchase Price: $[[Purchase Price]]

Payable as follows:

• Earnest Money Deposit (to be held in trust): $[[Earnest Money Amount]] due within [[Earnest Money Due Days, e.g. 3]] business days after mutual acceptance.
• Balance due at Closing in certified funds, wire, or other acceptable form.

4. Earnest Money

Earnest money shall be deposited promptly into a trust account maintained by a Tennessee-licensed real estate broker or title company in accordance with Tennessee law. The earnest money is part of the purchase price and shall be credited to Buyer at Closing unless otherwise agreed or disbursed under the default or termination provisions of this Agreement., -

ARTICLE III, CONTINGENCIES AND DUE DILIGENCE

5. Financing Contingency

This Agreement is contingent upon Buyer obtaining a commitment for a [[Conventional / FHA / VA / Other]] loan in the amount of approximately $[[Loan Amount]] within [[Financing Contingency Days, e.g. 21]] days after the Effective Date. If Buyer is unable to obtain financing after good-faith efforts, Buyer may terminate and receive return of earnest money.

6. Appraisal Contingency

This Agreement is contingent upon the Property appraising at or above the Purchase Price. If the appraisal is lower, Buyer may renegotiate, pay the difference in cash, or terminate within [[Appraisal Response Days]] of receipt of the appraisal report and receive return of earnest money.

7. Inspection / Due Diligence Contingency

Buyer shall have [[Inspection Period, e.g. 7 to 14]] days after the Effective Date (the "Inspection Period") to conduct inspections of the Property at Buyer's expense, including but not limited to structural, mechanical, roof, plumbing, electrical, environmental, and pest inspections.

Buyer may:
- Accept the Property as-is;
- Request repairs or credits in writing; or
- Terminate this Agreement by written notice to Seller before the end of the Inspection Period and receive full return of earnest money.

Seller shall provide reasonable access for inspections during the Inspection Period.

8. Sale of Buyer's Property Contingency (if applicable)

This Agreement is contingent upon the closing of Buyer's current property at [[Buyer's Current Property Address]] on or before [[Buyer's Sale Closing Date]]. If Buyer's sale does not close, Buyer may terminate and earnest money shall be returned.

9. HOA / Condominium Documents Contingency (if applicable)

If the Property is subject to a homeowners' association or condominium regime, this Agreement is contingent upon Buyer's review and approval of the HOA/condo documents, including governing documents, financial statements, rules, and any special assessments, within [[HOA Review Days]] days after receipt. If disapproved, Buyer may terminate.

10. Title and Survey Contingency

Seller shall deliver good and marketable title, free and clear of liens and encumbrances except for current taxes, easements of record, and standard exceptions. Buyer shall have the right to object to title defects within [[Title Objection Period, e.g. 5]] business days after receipt of the title commitment. Seller shall have a reasonable time to cure., -

ARTICLE IV, CLOSING AND POSSESSION

11. Closing Date and Place

Closing shall occur on or before [[Closing Date]] at the offices of [[Title Company or Closing Agent Name]], or such other location as the parties agree. Tennessee does not require an attorney at closing.

12. Possession

Seller shall deliver possession of the Property to Buyer at Closing, in broom-clean condition, with all personal property removed except items included in the sale. Any post-closing possession by Seller shall be documented in a separate written agreement.

13. Prorations and Closing Costs

Taxes, HOA fees, rents, and other items shall be prorated as of the Closing Date. Closing costs shall be allocated as follows (negotiable):

• Seller typically pays: [[e.g., owner's title policy portion, transfer tax, prorated taxes to date, HOA transfer fees]]
• Buyer typically pays: [[e.g., lender fees, appraisal, inspection, owner's title policy portion if negotiated, recording fees]]

Final allocation to be confirmed on the settlement statement., -

ARTICLE V, DEFAULT AND REMEDIES

14. Default by Buyer

If Buyer defaults after removal or expiration of all contingencies, Seller may terminate and retain the earnest money as liquidated damages (not a penalty), or pursue other remedies available at law or equity.

15. Default by Seller

If Seller defaults, Buyer may terminate and receive return of earnest money plus reimbursement of documented out-of-pocket inspection and appraisal costs, or pursue specific performance or other remedies.

16. Dispute Resolution

The parties agree to attempt good-faith negotiation. Mediation is encouraged before litigation. Any litigation shall be in the courts of [[County]], Tennessee, and governed by Tennessee law., -

ARTICLE VI, DISCLOSURES AND ADDENDA

17. Required Disclosures

Seller has provided or will provide prior to or with this Agreement:

• Tennessee Residential Property Condition Disclosure Statement (TCA § 66-5-201 et seq.)
• Lead-Based Paint Disclosure and EPA pamphlet (if pre-1978)
• Any other required state or local disclosures (flood, radon, etc.)

Buyer acknowledges receipt of the Property Disclosure Statement and has the statutory right to rescind within three (3) days of receipt unless waived.

18. Addenda and Exhibits

The following are attached and incorporated:

• Exhibit A: Legal Description (if not in body)
• Property Disclosure Statement
• Lead-Based Paint Addendum (if applicable)
• [[Other Addenda: [[List]]]], -

ARTICLE VII, GENERAL PROVISIONS

19. Entire Agreement

This Agreement, including all exhibits and addenda, constitutes the entire agreement and supersedes all prior negotiations and representations. It may be modified only in writing signed by both parties.

20. Severability; 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 Tennessee.

21. Time of Essence; Counterparts; Electronic Signatures

Time is of the essence. This Agreement may be executed in counterparts and by electronic signature, each of which shall be deemed an original.

22. Notices

All notices shall be in writing and deemed given when delivered personally, sent by certified mail, or transmitted by email with read receipt to the addresses in Section 1.

23. Binding Effect

This Agreement shall be binding upon and inure to the benefit of the parties, their heirs, successors, and permitted assigns., -

SIGNATURES

SELLER

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

Signature (if additional Seller): _______________________________ Date: [[Date]]

BUYER

Signature: _______________________________ Date: [[Date]]
Printed Name: [[Buyer Full Legal Name(s)]]

Signature (if additional Buyer): _______________________________ Date: [[Date]], -

BROKER / AGENT ACKNOWLEDGMENT (if applicable)

Listing Broker: [[Listing Broker / Company]] Agent: [[Listing Agent Name]]

Selling Broker: [[Selling Broker / Company]] Agent: [[Selling Agent Name]]

Earnest Money to be held by: [[Broker or Title Company Name and License #]], -

*This is a professional sample Tennessee Residential Purchase and Sale Agreement. It reflects common practices in Tennessee (non-attorney closing state), TAR-style structure, mandatory disclosure timing, and earnest money trust requirements. It is not legal advice. Parties should consult qualified counsel or a licensed Tennessee real estate professional. Terms are negotiable. Verify all contingencies, disclosure delivery, and local practices before use. As of June 2026.*