What is necessary for a property sale to be legally binding in Pennsylvania?

For a property sale to be legally binding in Pennsylvania, a purchase agreement signed by both parties is essential. This purchase agreement serves as a contract that stipulates the terms and conditions of the sale, including the purchase price, property description, contingencies, and other important details. It creates a legal obligation for both the buyer and the seller to fulfill their respective commitments, ensuring the transaction is valid under state law.

A signed listing agreement primarily pertains to the relationship between a seller and a real estate agent rather than directly to the sale itself. Similarly, a verbal agreement lacks the necessary documentation and may not be enforceable in the eyes of the law, as Pennsylvania, like many states, generally requires contracts related to real estate transactions to be in writing to be enforceable. An advertisement in local media is not a legal requirement for a sale to be binding; it serves more as a marketing tool than a contractual agreement. Therefore, the signed purchase agreement is the critical element for ensuring the legality of the property sale in Pennsylvania.