About the Standard Agreement of Sale
The Standard Agreement for the Sale of Real Estate (Form ASR) is a contract for the sale of residential real estate containing commonly used clauses and the legal requirements for sales contracts in transactions involving real estate licensees.
Using the Standard Agreement of Sale
The Standard Agreement for the Sale of Real Estate should be used in transactions to outline the terms of the agreement between the buyer and seller. The standard agreement specifies details of the property including purchase price, buyer’s responsibilities and much more. The terms of the agreement can be altered to fit the parties’ unique transaction by using the library of addenda that have been specifically written to coordinate with the standard contract.
Guidelines for Preparation and Use in Spanish
The Standard Forms Translation Task Force is working toward translating some Guidelines for Preparation and Use into Spanish.
Ver el contrato estándar para la compraventa de bienes inmuebles en español (Form ASR-S).
Latest Content
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The Final Step: Pre-settlement Walkthroughs
- September 26, 2025
- 6 min. read
One small section in the ASR that generates an outsized number of questions on the PAR Legal Hotline is subparagraph 12(A)(2), which talks about the buyer’s right to two pre-settlement walkthrough inspections.
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Mortgage Contingency Update Coming Sept. 1
- August 22, 2025
- 7 min. read
A revision to the mortgage contingency of the PAR Agreement of Sale (Form ASR) will be released on Sept. 1, 2025. The main substantive change is simply to add a third choice for the buyer to use when signaling their intent on financing to a seller.
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Webinar Recap: Standard Forms Update
- August 8, 2025
- 4 min. read
PAR will release 10 updated standard forms on Sept. 1. The marked-up versions of the drafts are now available on our website and can be downloaded from the individual forms pages.
