Form AREL - the Pennsylvania Association of Realtors 2025

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(1) The date of the agreement. (2) The names of the buyer and seller. (3) A description of the property and the interest to be conveyed. (4) The sale price.
Consideration: The parties must exchange something of value. Without such an exchange, there is no agreement. Offer and Acceptance: One party must make an offer, and the other must accept it. Mutual Consent: Both parties agree to the terms without coercion.
A contract is an agreement between parties , creating mutual obligations that are enforceable by law . The basic elements required for the agreement to be a legally enforceable contract are: mutual assent , expressed by a valid offer and acceptance ; adequate consideration ; capacity ; and legality .
Though notarization is not required, it may still be a good idea to have a notary present in order to verify the identities of all signers.
Licenses are granted by state governments. Often, each state government will require a certain number of education hours to obtain and maintain a real estate license. The National Association of REALTORS does not grant licenses, require Continuing Education (CE), or track CE courses.
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Some states, like California, have created real estate purchase agreements you can download and change. You can also get a template from PandaDoc, as well as benefiting from real estate contract management software functionality.

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