Purchase agreements are essential whenever money changes hands for a property, a business, or valuable assets. A clear agreement defines what is being sold, the purchase price, payment terms, and the conditions that must be met before the transaction is finalized.
Without a purchase agreement, disputes can arise around deposits, inspection results, timelines, included items, financing conditions, and who is responsible for taxes, fees, or repairs. Free simple purchase agreement templates in Word provide professional, editable formats that help document transactions cleanly and reduce misunderstandings.
This guide includes 36+ free purchase agreement templates suitable for real estate deals, business purchases, and straightforward asset transactions.
What Is a Purchase Agreement?
A purchase agreement is a binding contract between a buyer and a seller that outlines the terms and conditions of a sale.
A standard purchase agreement typically includes:
- Buyer and seller information
- Description of what is being sold (property, business, assets)
- Purchase price and deposit/earnest money terms
- Payment method and financing details (if applicable)
- Contingencies (inspection, appraisal, financing, due diligence)
- Closing date, possession/transfer date, and location
- Included and excluded items
- Disclosures, representations, and warranties (as applicable)
- Default and termination terms
- Signatures and date
A well-structured agreement reduces risk and supports a smoother closing.
Why Use Free Simple Purchase Agreement Templates?
Using free purchase agreement templates offers practical benefits:
- Clear documentation of purchase price and payment structure
- Defined contingencies that reduce surprises
- Stronger timeline control for due diligence and closing
- Easy customization for different transaction types
- Print-ready signing and organized recordkeeping
- Faster drafting without starting from scratch
Templates make purchase documentation more consistent and professional.
36+ Free Simple Purchase Agreement Templates (Real Estate, Business) (Word)
Below is a curated collection of purchase agreement templates, grouped by transaction type and contract structure.
Core and General Purchase Agreement Templates (1–12)
- Standard Purchase Agreement Template
- Simple Purchase Agreement
- One-Page Purchase Agreement
- Editable Purchase Agreement (Word)
- Purchase Agreement with Deposit Section
- Purchase Agreement with Payment Schedule Table
- Purchase Agreement with Included/Excluded Items List
- Purchase Agreement with Inspection Contingency
- Purchase Agreement Starter Template
- Purchase Agreement Execution Checklist
- Purchase Agreement Cover Page Template
- Universal Purchase Agreement Pack
Real Estate Purchase Agreement Templates (13–24)
- Residential Real Estate Purchase Agreement (Simple)
- Land Purchase Agreement Template (Basic)
- Commercial Real Estate Purchase Agreement (Simple)
- Real Estate Purchase Agreement with Financing Contingency
- Real Estate Purchase Agreement with Appraisal Contingency
- Real Estate Purchase Agreement with Earnest Money Terms
- Real Estate Purchase Agreement with Closing Cost Allocation Notes
- Real Estate Purchase Agreement with Possession Date Section
- Property Disclosure Acknowledgment Attachment (Basic)
- Inspection Repair Addendum Template
- Title/Ownership Confirmation Addendum (Basic)
- Real Estate Closing Checklist Template
Business and Asset Purchase Agreement Templates (25–36+)
- Small Business Purchase Agreement (Simple)
- Business Purchase Agreement with Due Diligence Period
- Business Purchase Agreement with Asset List Attachment
- Business Purchase Agreement with Inventory Count Addendum
- Purchase Agreement for Equipment and Machinery
- Purchase Agreement for Digital Assets (Website/Domain)
- Payment Installment Addendum Template
- Non-Compete Addendum (Where Appropriate)
- Confidentiality Clause Addendum
- Termination and Default Notice Template
- Purchase Agreement + Bill of Sale Bundle
- Complete Simple Purchase Agreement Templates Pack
- Final Purchase Agreement Review Checklist
Why Use Word Format for Purchase Agreements?
Purchase agreements often require customization, negotiation, and attachments for disclosures and contingencies.
Word format advantages include:
- Easy editing for prices, dates, and conditions
- Simple revision tracking during negotiation
- Flexible attachments for asset lists and disclosures
- Print-ready signing and professional formatting
- Reusable templates across multiple deal types
Word supports clean drafting and faster approvals.
Best Practices for Simple Purchase Agreements
To strengthen purchase agreements:
- Identify exactly what is being sold (and what is excluded)
- Define deposit terms clearly (amount, due date, refund rules)
- Use clear contingencies and deadlines for due diligence
- Set a realistic closing timeline and transfer/possession date
- Document responsibility for fees, taxes, and closing costs
- Include default terms and what happens if either party fails to perform
- Attach schedules for asset lists, property details, or inventory
- Keep signed copies and track key dates
Strong purchase agreements reduce delays and disputes.
Common Mistakes to Avoid
When creating purchase agreements, avoid:
- Vague descriptions of the property or assets
- Missing deposit rules or unclear refund terms
- No timeline for inspections, financing, or due diligence
- Not listing included items (appliances, equipment, inventory)
- Unclear closing cost responsibilities
- Starting the transaction without signatures and dated terms
Most transaction problems come from missing details and unclear deadlines.
Frequently Asked Questions
Are simple purchase agreements legally binding?
Yes, if properly completed and signed. Legal enforceability depends on jurisdiction and contract requirements.
Should a purchase agreement include contingencies?
Yes. Contingencies protect the buyer and define conditions for moving forward or terminating the deal.
Why use Word templates for purchase agreements?
Word templates are easy to customize, review, and reuse, especially when attachments are needed.
Can a purchase agreement be used for both real estate and business purchases?
Yes, but templates should be adapted to match the transaction type and include the correct schedules and disclosures.
Do purchase agreements need notarization?
Not always. Requirements vary by location and the type of transaction.
Conclusion
Purchase agreements are essential for documenting real estate and business transactions clearly—especially when deposits, contingencies, and closing steps must be controlled. The 36+ free simple purchase agreement templates (real estate, business) in Word in this guide provide professional, editable formats to structure purchase terms, reduce disputes, and support smoother closings.
With the right template, buyers and sellers can move forward with clearer expectations and stronger transaction documentation.
