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A real estate purchase agreement is a legally binding agreement that governs the purchase and sale of a property. Made between a buyer and seller, it defines the terms of the transaction and the conditions under which a sale will occur.

An agreement for sale of immovable property or house is drafted stating a seller's and buyer's willingness to sell and buy this property, respectively. It determines the terms and conditions of sale between the parties. The agreement is binding on both the parties.

When you find a home and enter into a purchase contract, the seller may withdraw the house from the market. Earnest money, or good faith deposit, is a sum of money you put down to demonstrate your seriousness about buying a home. In most cases, earnest money acts as a deposit on the property you're looking to buy.

A purchase and sale agreement, also called a sales and purchase agreement or a purchase and sales contract, is a legally binding document that parties in a transaction use to stipulate the terms and conditions that will guide the sale and transfer of goods or property.

What is an "option to purchase" agreement? An option to purchase is an agreement that gives a potential buyer (?optionee?) the right, but not the obligation, to buy property in the future. The optionee must decide by a certain time whether to ?exercise? the option and thereafter by bound under the contract to purchase.

A real estate purchase agreement is a legally binding agreement that governs the purchase and sale of a property. Made between a buyer and seller, it defines the terms of the transaction and the conditions under which a sale will occur.