What to Know About the CT Purchase and Sale Agreement Before You Sign
The purchase and sale agreement is the most important document in your Connecticut real estate transaction. It's also the one most buyers and sellers understand the least.
Before you sign, here's what you should know.
What the Purchase and Sale Agreement Actually Is
In Connecticut, the purchase and sale agreement is the binding contract between buyer and seller. It spells out the price, the closing date, the contingencies, and every other term of the deal.
Once both parties sign, you're committed. Walking away after that point has real financial consequences — including potentially losing your deposit.
That's why understanding what's in this document matters before your signature hits the page.
Key Sections to Pay Attention To
Purchase price and deposit. The agreement locks in the price and outlines how much earnest money the buyer is putting down. That deposit is at risk if the deal falls through for a reason not covered by a contingency.
Contingencies. These are your exit ramps. Common ones include financing, home inspection, and appraisal contingencies. If a contingency isn't in the agreement, you don't have that protection. Make sure you know which ones are included — and which ones aren't.
Closing date. This is the target date for transferring ownership. Missing it can create problems for both sides, especially if one party has already scheduled movers or has another transaction depending on the timing.
Property condition and disclosures. The seller is required to disclose known defects. The agreement should reference these disclosures and outline what happens if issues come up during the inspection.
Title and deed. The agreement addresses how title will be transferred and what type of deed the seller will provide. In Connecticut, most residential transactions use a warranty deed, which offers the buyer the strongest protection.
Why You Should Have an Attorney Review It
In Connecticut, closings are conducted by an attorney. But many buyers don't bring in their attorney until after the purchase and sale agreement is already signed. That's a missed opportunity.
An attorney reviewing the agreement before you sign can flag problematic language, confirm your contingencies are in place, and make sure the terms actually protect your interests. It's much easier to negotiate changes before signing than after.
What Happens After You Sign
Once the CT purchase and sale agreement is signed by both parties, the clock starts. The buyer typically has a set window for inspections, the lender begins processing the mortgage, and the title search gets underway.
Your attorney coordinates much of this behind the scenes — reviewing title, clearing any issues, preparing closing documents, and making sure the numbers match before closing day.
The Bottom Line
The purchase and sale agreement sets the terms for your entire transaction. Understanding what's in it — and having a real estate attorney review it before you sign — is one of the simplest ways to protect yourself.
If you're getting ready to buy or sell a home in Connecticut and want a clear explanation of what you're signing, reach out. We're happy to walk you through it.
This article is for general informational purposes only and does not constitute legal advice. Real estate laws vary by jurisdiction and individual circumstances differ. Contact Mancuso Carey to discuss your specific situation.