Property: 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.

Context: Identifying the document.

1. Document title

2. Parties and subject property

Key takeaways: Important information.

1. Buyer’s name

2. Seller’s name

3. Subject property

4. Purchase price

5. Initial deposit

6. Close of escrow or closing date.

7. Addenda section

Notes on Purchase Contracts:

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