The purchase agreement is the most important document in any real estate transaction. It defines the terms of the deal, the obligations of every party, and the deadlines that govern the next 30 days of your professional life. And yet, because agents fill out these forms under time pressure, on behalf of emotional clients, often in the middle of multiple competing deals — errors are everywhere.
Here are the 10 most common mistakes — and what you should do about each one.
Leaving the closing date blank
This happens more than you'd expect — especially on deals where the parties are still negotiating possession or the seller needs flexibility. A blank closing date creates an unenforceable contract in most states. Always confirm the date before submitting, even if it's estimated. If it needs to change, use an addendum.
Missing buyer or seller initials on material terms
Many state forms require buyer and seller initials on specific pages or next to material terms — not just signatures on the last page. Missing an initial line can invalidate the contract or give the other party grounds to back out. Review every initial block before submission.
Leaving the inspection contingency ambiguous
The inspection contingency is one of the most contested sections of any PA. Agents frequently leave the 'buyer waives inspection' box unchecked while also leaving the inspection days field blank — which creates genuine legal ambiguity. Know your client's intent and make sure the form clearly reflects it.
Purchase price that doesn't match in words and numbers
Most forms ask for the purchase price in both numeric and written form. When they don't match — even by a dollar — it creates a contract dispute. Courts in most states default to the written version over the numeric version, which can be a problem if the number was entered incorrectly.
Earnest money amount that doesn't make sense relative to the purchase price
There's no hard legal rule on earnest money amounts, but an unusually low deposit (say, $500 on a $500K purchase) can signal bad faith to the seller — or make your offer less competitive. More importantly, if the amount doesn't match what was verbally agreed, it can lead to post-acceptance disputes.
Financing contingency that doesn't match the actual loan
If your buyer is getting an FHA loan but the contract says conventional, or the down payment percentage is wrong, you've created a misrepresentation in the contract. Loan type, interest rate cap, and loan amount all need to match the pre-approval letter. Double-check every financing field.
Not including required state disclosures or addenda
Every state has mandatory disclosure requirements — lead paint, mold, property condition, HOA, flood zone, and more. Missing a required addendum doesn't just expose you to liability; in some states, it can void the entire purchase agreement. Know your state's requirements cold.
Property description that doesn't match the MLS listing
The legal description of the property in the PA must match what's in the public record. An informal address (742 Evergreen Terrace) isn't a legal description. Missing or incorrect parcel numbers, unit numbers, or subdivision names can create title issues that delay or kill closing.
No wire fraud warning in communications
This isn't a PA mistake — it's what happens after. Failing to send a wire fraud warning to buyers before closing is increasingly considered an agent negligence issue. Wire fraud is the #1 source of financial loss for real estate consumers. Every under-contract email should include explicit instructions and a warning.
Submitting without a second set of eyes
You reviewed it once. You're in a rush. The offer window closes in an hour. This is when mistakes happen. Even a 5-minute second review — by a colleague, a TC, or an AI tool — catches errors that your tired eyes skip over. The cost of a missed error is always higher than the time it takes to double-check.
The bottom line
Most of these mistakes aren't caught until it's too late — because agents review their own work with the same assumptions they had when they filled out the form. A fresh set of eyes, whether human or AI, changes that.
DealDock was built to be that second set of eyes. Upload your executed PA and it validates every field — catching the blank dates, mismatched prices, and missing initials before they become problems.