# Purchase Contract

A real estate purchase contract, also known as a sales agreement or purchase agreement, is a legally binding document that outlines the terms and conditions of a property sale between a buyer and a seller.

<figure><img src="https://content.gitbook.com/content/6dJvbA41jcmLzZVb0huQ/blobs/LNEOcJT631T9G1rOAvXQ/image.png" alt=""><figcaption></figcaption></figure>

<figure><img src="https://content.gitbook.com/content/6dJvbA41jcmLzZVb0huQ/blobs/ZWzfVX95KaJZKDTR1ppP/image.png" alt=""><figcaption></figcaption></figure>

<figure><img src="https://content.gitbook.com/content/6dJvbA41jcmLzZVb0huQ/blobs/02NY9ch6F3Vp2JsmTGdY/image.png" alt=""><figcaption></figcaption></figure>

**Context:** Identifying the document.&#x20;

1. Document title
2. Parties and subject property

**Key takeaways:** Important information.&#x20;

3. Buyer’s name&#x20;
4. Seller’s name&#x20;
5. Subject property&#x20;
6. Purchase price&#x20;
7. Initial deposit&#x20;
8. Close of escrow or closing date.
9. Addenda section

**Notes on Purchase Contracts:**

* All items checked in the addenda section must be provided alongside the purchase contract.
