Pennsylvania Real Estate Purchase Agreement Generator

What is a Pennsylvania Real Estate Purchase Agreement?

A Pennsylvania Real Estate Purchase Agreement is a legally binding contract between a buyer and seller for the transfer of real property located in Pennsylvania. This comprehensive document outlines the terms and conditions of the transaction while incorporating Pennsylvania-specific requirements, including mandatory seller disclosures under the Real Estate Seller Disclosure Law, lead-based paint provisions, local transfer tax allocations, and other state-specific real estate regulations. The agreement protects both parties' interests during the property transfer process.

Key Sections Typically Included:

• Party Identification and Property Description
• Purchase Price and Financing Terms
• Earnest Money Deposit and Escrow Details
• Pennsylvania Seller Disclosure Statement Requirements
• Property Condition and Inspection Rights
• Title Investigation and Insurance Provisions
• Lead-Based Paint Disclosure (pre-1978 structures)
• Pennsylvania Transfer Tax Allocation
• Survey and Environmental Assessment Rights
• Mineral, Oil, and Gas Rights Specifications
• Closing Date, Location, and Procedures
• Possession Terms and Timeline
• Real Estate Broker Relationships
• Default Remedies and Dispute Resolution
• Property Insurance Requirements
• Property Tax Prorations and Assessments
• Homeowners Association Transfer Requirements
• Municipal Inspection Requirements
• Radon Testing and Remediation Provisions
• Sewage System Compliance Documentation
• Zoning and Land Use Compliance Statements

Why Use Our Generator?

Our Pennsylvania Real Estate Purchase Agreement generator creates a comprehensive document tailored specifically to Pennsylvania real estate law. The agreement properly addresses Pennsylvania's unique disclosure requirements, transfer tax allocation customs, inspection timelines, and other state-specific real estate traditions. Our tool helps buyers and sellers navigate the complexities of Pennsylvania property transfers while ensuring all legal requirements are met and protecting both parties' interests throughout the transaction.

Frequently Asked Questions

• Q: What are Pennsylvania's seller disclosure requirements?

  • A: Pennsylvania's Real Estate Seller Disclosure Law (Act 84 of 1996, 68 Pa. C.S. §§ 7301-7315) requires sellers of residential property to disclose all known material defects through a standardized Seller's Property Disclosure Statement. This disclosure must be provided to buyers before they sign an agreement of sale or, if given afterward, buyers have 2 business days to terminate the agreement after receiving it. The disclosure must address 16 specific categories including roof and structural components, mechanical systems, water and sewage systems, legal issues affecting title, and environmental hazards. Pennsylvania courts strictly enforce these requirements, and failure to disclose known defects can result in rescission of the sale or monetary damages. The disclosure law applies to most residential properties but exempts new construction with warranties, foreclosures, estate sales, and certain interfamily transfers. The agreement should specifically reference the Pennsylvania disclosure form, include timing requirements for its delivery, and address remedies for undisclosed defects discovered before closing.

• Q: How should Pennsylvania's transfer tax requirements be addressed?

  • A: Pennsylvania imposes a 1% real estate transfer tax on the value of property transferred, and most counties impose an additional 1% local transfer tax (Philadelphia has a 3.278% total tax). While statute allows parties to allocate this tax however they choose, Pennsylvania custom traditionally splits this burden 50/50 between buyer and seller, unless otherwise negotiated. The agreement should clearly state how this tax will be divided, specify which party is responsible for filing the transfer tax forms, and address how any transfer tax exemptions will be documented and claimed. The purchase agreement should also address potential post-closing transfer tax audits by the Department of Revenue, which can occur up to three years after the transaction. For properties that may qualify for preferential transfer tax treatment (family transfers, certain business reorganizations, etc.), the agreement should specify documentation requirements and allocate responsibility if an exemption is later denied.

• Q: What environmental and inspection provisions are specific to Pennsylvania real estate contracts?

  • A: Pennsylvania real estate purchase agreements should address several state-specific environmental and inspection concerns. Radon testing should be explicitly addressed, as Pennsylvania has high radon levels in many regions. The agreement should specify whether testing is required, who bears testing costs, remediation thresholds, and remediation responsibility. For properties with on-lot sewage systems, the agreement should require certification under Pennsylvania's sewage facilities regulations and municipal ordinances, typically requiring inspection and pump-out. Pennsylvania's unique coal mining history necessitates addressing subsidence risks and mine subsidence insurance in many regions. The agreement should also address potential Abandoned and Orphaned Well inspections in western Pennsylvania counties. For waterfront properties, the agreement should address Chapter 105 compliance (Water Obstructions and Encroachments), and properties constructed before 1988 may require verification of compliance with the Pennsylvania Stormwater Management Act. Wood-destroying insect inspections are also customary in Pennsylvania transactions and should be explicitly addressed in the inspection provisions.