The standard Agreement of Sale in Pennsylvania is the residential purchase contract published by the Pennsylvania Association of Realtors (PAR). It covers price, deposit, contingencies, closing costs, transfer taxes, and deadlines, and it becomes binding once both parties sign, so every line should be read before signing.
What the Standard Agreement of Sale Is
The standard Agreement of Sale in Pennsylvania is the model residential purchase contract published by the Pennsylvania Association of Realtors (PAR). Most real estate agents and brokers in the state use it for resale homes, which means most buyers and sellers in the Philadelphia region sign a version of the same form, with blanks filled in and optional paragraphs checked off.
PAR publishes the form as the Standard Agreement for the Sale of Real Estate, and it is designed to work with Pennsylvania law and practice. It is not required by law, any agent or attorney can draft a custom contract, but the PAR form is the default because it is balanced, well tested, and understood by lenders, title companies, and settlement agents across the state.
How the Form Is Organized
The form opens with the parties, the property address, the purchase price, and the earnest money deposit. It then moves through the timing of the deal, when the contract can be terminated for failure to reach settlement, and the legal description and title requirements. From there it spells out the closing logistics, including where settlement will be held and who the settlement agent will be.
The middle of the form covers the contingencies: financing, inspection, and appraisal, with blanks for the number of days allowed for each. There are paragraphs for seller disclosures, radon and lead-based paint, termite and other inspections, home warranties, and the property condition. Optional paragraphs cover items like whether the home is being sold as is, whether the buyer can do a final walkthrough, and how the parties handle a short sale approval.
The back of the form deals with money: closing costs, realty transfer taxes, and prorations. The standard form allocates the transfer tax between buyer and seller on the Philadelphia market practice, but every allocation can be negotiated, and the blanks are where those negotiations get recorded.
Key Clauses Buyers and Sellers Should Know
Several clauses in the standard form do heavy lifting. Time is of the essence means deadlines matter and missing one can have consequences. Marketable title requires the seller to deliver a title that can be insured. The entire contract clause says no change is valid unless in writing, which is why addendums are essential.
The form also addresses default and remedies. If the buyer fails to perform, the seller may be able to keep the deposit as liquidated damages. If the seller fails to perform, the buyer may sue for specific performance, forcing the sale, or seek damages. Understanding these clauses before you sign tells you what is at stake if the deal goes sideways.
Pennsylvania Context: Attorney Review and Custom
Because the PAR form has no post-signing attorney review period, buyers and sellers should read it carefully before signing. In the Philadelphia area many buyers have an attorney review the offered terms before ratification, a custom rather than a legal requirement. Attorneys can mark up the standard form, and once any changes are made, the modified contract governs.
The form also assumes Pennsylvania specifics: the Seller's Property Disclosure Statement, the 1% state realty transfer tax plus local transfer taxes, and settlement conducted by a title company or attorney. When the blanks are filled in correctly, the form produces a complete, enforceable contract that settlement agents can fund on schedule.
How to Use It Well
Treat the standard form as a starting point, not a final answer. Read every checked and unchecked paragraph, and question anything that does not match your conversation with the agent. If the seller agreed to fix the roof, that belongs in an addendum, not in a recollection. If you want the refrigerator, it should be on the list of items included.
Also verify the blanks. The correct legal descriptions, the right closing date, accurate deposit amounts, and realistic contingency days turn a good form into a good contract. Mistakes in the blanks are the most common reason a 'standard' contract causes trouble later.
Key Takeaways on the PAR Form
The standard Agreement of Sale rewards careful readers. Confirm these five things.
- It is the default, not the law: most resales use the PAR form, but custom contracts are allowed
- The blanks are the deal: prices, dates, and deposit amounts come from the filled-in copy
- Contingency days are negotiable: inspection and financing windows are written into the form
- Time is of the essence: missed deadlines have consequences under the standard form
- No attorney review window: read it before signing, because changes after signing need both parties
Ask your agent to walk through every checked and unchecked paragraph so the standard form fits your actual deal.
Smarty's Advice Expert Insight
John Smart (Smarty) · Smarty Home Solutions / eXp Realty Agent, AI Certified Agent
Know what you are signing before you sign it. The PAR standard Agreement of Sale is a strong, balanced form, but it only protects you if you read the filled-in version and adjust it to your deal. Never assume a default clause matches what was promised.
John Smart, AI-Certified Agent with eXp Realty walks buyers and sellers through the standard Agreement of Sale across the Philadelphia region and flags what matters before ratification. Call 215-598-6848 or schedule a free consultation. No obligation, just straight answers.