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In a lease purchase agreement, the tenant/buyer is obligated to purchase the property by the end of the term of the lease. This is not the case for a lease option agreement where the will to exercise the option to buy is voluntary for the tenant.

A sales and purchase agreement (SPA) is a binding legal contract that obligates a buyer to buy and a seller to sell a product or service. SPAs are often used in real estate deals or when two parties are transacting a large item or a large number of items.

An Agreement of Purchase and Sale is a written contract between the buyer and seller of a property. It is the main document that outlines important details of the transaction such as the purchase price and the applicable terms and conditions.

The buyer agrees to make a purchase on a specific timeline, and the seller agrees to provide the goods and services on or by that date. The buyer agrees to pay a certain price for the goods, and the seller agrees to accept that price. Either party has recourse if the other violates the sales agreement.

A Contract for Deed is a way to buy a house that doesn't involve a bank. The seller finances the property for the buyer. The buyer moves in when the contract is signed. The buyer pays the seller monthly payments that go towards payment for the home.

At its most basic, a purchase agreement should include the following: Name and contact information for buyer and seller. The address of the property being sold. The price to be paid for the property. The date of transfer. Disclosures. Contingencies. Signatures.