What Is a Purchase and Sales Agreement in New Hampshire Real Estate?

🏡 What Is a Purchase and Sales Agreement in New Hampshire Real Estate?

When buying a home in Plymouth, Campton, Rumney, Thornton, Ashland, or anywhere across Central NH, one of the most important documents you’ll sign is the Purchase and Sales Agreement, often called the P&S.

This contract finalizes the terms of the deal and outlines what both the buyer and seller are responsible for — legally binding both parties once signed.

Here’s exactly what a P&S includes and why it matters.

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What Is a Purchase and Sales Agreement?

A Purchase and Sales Agreement is the formal contract that replaces the initial offer once terms are agreed upon.

It typically includes:

Final purchase price

Earnest money amount

Financing details

Inspection terms

Appraisal contingency

Title requirements

Closing date

Property condition statement

Included/excluded items

Deadlines and contingency dates

Signing the P&S means the buyer and seller have officially committed to the transaction.

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When Is the P&S Signed in NH?

In most New Hampshire transactions:

✔ An offer is accepted

✔ Negotiations take place

✔ The P&S is signed within 5–10 days

This allows time for inspections, lender communication, or adjustments to contract terms.

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Why the P&S Is Important for Buyers

The P&S protects buyers by:

✔ Locking in the property at the agreed price

✔ Preserving your contingencies (inspection, financing, etc.)

✔ Setting clear deadlines and expectations

✔ Confirming what stays with the home

✔ Making the seller legally obligated to the deal

Everything the buyer and seller agreed upon is documented here.

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What Should Buyers Review Carefully?

Before signing the P&S, buyers should check:

Accurate spelling of names

Correct address and parcel info

Earnest money details

Repair requests that must be included

Home inspection deadlines

Financing dates

Appraisal language

Closing date

Seller-paid concessions (if any)

Your agent and closing attorney can help review every line.

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Q&A

Q: Can changes be made after signing the P&S?

A: Yes — but both parties must agree in writing through amendments.

Q: What happens if someone tries to back out?

A: The P&S is a binding contract. Backing out without legal grounds can result in loss of earnest money or legal consequences.

Keywords

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Jim Johnson — Real Estate Agent

58 NH Route 25A

Wentworth, NH 03282

P: (857) 249-7392

W: www.JimJohnsonRealEstateAgent.com

Licensed New Hampshire REALTOR® with Three Hills Real Estate Services

Broker Email: info@ThreeHillsRES.com

Broker Website: www.ThreeHillsRES.com