The offer: Pennsylvania's Agreement of Sale
Offers in Pennsylvania are made on a written Agreement of Sale — most agents use the standard Pennsylvania Association of Realtors form. It's not a casual letter of intent: once both sides sign, it's the binding contract, and everything you care about (price, deposit, inspections, closing date, what stays with the house) must be in it.
Your offer is usually accompanied by an earnest money deposit that shows you're serious; it's held in escrow and credited to you at closing. Amounts are negotiable and vary with the market and price point.
The contingencies that protect you
Contingencies are your exits. The common ones in Pennsylvania:
- Inspection contingency — a negotiated window (often around 10–15 days) to inspect and then negotiate repairs, credits, or walk away.
- Mortgage contingency — the deal depends on your financing being approved by a stated date.
- Appraisal — typically wrapped into the mortgage contingency; the lender's appraisal must support the price.
- Sale-of-home contingency — if you must sell first; a harder sell to sellers in a competitive market.
What the seller owes you
Pennsylvania's Real Estate Seller Disclosure Law requires the seller to deliver a written property disclosure statement covering known material defects before the agreement is signed. Read it line by line — it's the roadmap for your inspector. Many Bucks County municipalities also require the seller to obtain a use & occupancy (U&O) certificate from the township or borough before transfer, which can surface required repairs; ask early which rules apply in that town.
The money at closing
Two Pennsylvania-specific numbers to know. First, realty transfer tax: the state charges 1%, and local transfer taxes in most Bucks County municipalities bring the combined total to about 2% of the sale price, customarily split evenly between buyer and seller — though the split is negotiable. Second, title insurance rates in Pennsylvania are set on a published schedule, and the buyer customarily pays them.
From accepted offer to closing typically runs 30–45 days with a mortgage. Cash can move much faster.
Get your own representation before you offer
You can attend every open house in the county alone — but when it's time to write an Agreement of Sale, negotiate inspection findings, and hit contingency deadlines, a buyer's agent earns their role. If you want a Bucks County buyer's agent, Graham Sullivan, the licensed PA Realtor behind this network, is the door to knock on.
