What is a California Residential Purchase Agreement?
The California Residential Purchase Agreement, or RPA-CA, is a form with many purposes. These include...
- An offer to purchase property
- A completed contract (once it has been accepted by both seller/buyer and signed)
- A receipt for the money offered
- Instructions for the joint escrow agreement
- Instructions for mediation and arbitration of the deal
- Assignment of compensation to the realty brokers
The form is detailed enough to address almost all issues involved in the purchase and sale of property.
In one sentence, what is the purpose of submitting this form?
The overall purpose of the RPA-CA form is to buy and sell realty in the state of California, and to protect the buyer, seller, and broker.
What information do you need in order to complete this form?
The RPA-CA form is highly detailed, and requires many pieces of information. In summary, you’ll need the following to complete the form…
- The date and location where the document is signed
- All financial details including the offer, initial deposit, loan amounts, balance of the purchase price, total purchase price, verification of down payment, and all contingencies
- Property occupancy information
- Allocation of costs
- Disclosure details
- Damage details
- Tax details
- Escrow details, when the offer will expire
- Broker compensation details
- All legal details and disclosures
For more detailed information on each section of the form, you can use the free PDF guide here.
Who is the publisher/creator of the form?
This form was published by the California Association of Realtors.
Who is the intended recipient of this form?
This form is intended to be received and used for reference by realtors, brokers, home buyers, home sellers, and realty lawyers.