The Consumer Guide is designed to help consumers better understand the major terms of the Standard Agreement for the Sale of Real Estate (Form ASR). The Standard Agreement for the Sale of Real Estate, also known as the purchase and sale agreement or just the contract, is a boilerplate contract.View the forms library. A Pennsylvania residential purchase agreement establishes a legal arrangement between a buyer and a seller in a real estate transaction. The Guide explains what you should know when applying to rent, living in a rented property, and dealing with the end of a lease. It is important to note that if a tenant-occupied property is sold, the tenant has the right to remain in the property until the end of the lease agreement. The start of every lease agreement is pretty simple. The parties to the agreement must be identified. Exemption of Property on Premises Under Lease or. Sale Contract Subject to a Security Interest.