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The California Residential Purchase Agreement (RPA) form is the cornerstone of every successful real estate transaction in the state of California and there are several essential concepts, principles, and facts about this form that all REALTORS® should know.
Updated September 20, 2023. A California residential purchase and sale agreement is a contract between a buyer that agrees to purchase real estate from a seller for an agreed-upon sales price.
How is a legally binding contract created under the RPA? Buyer and Seller Signatures: Paragraphs 32 and 33 have signature blocks for two signatures each. If there are more than two principals, check the box for Additional Signature Addendum (C.A.R. Form ASA) to add up to three additional signatures per party.
The RPA is a complex document that governs both the contractual relationship between buyer and seller but also provides the basic instructions to the escrow services provider.
The words "and Joint Escrow Instructions" reflect that the form includes an instruction to the escrow holder by both the buyer and the seller (see paragraph 28) and includes space for the escrow holder to sign for receipt of the document (see page 8 of the contract).