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.