The property and improvements which the Seller is agreeing to sell and which the Purchaser is agreeing to purchase is known as. A purchase and sale agreement is a contract between a buyer and seller for transacting a property in exchange for a specific price.Seller shall sell and convey and Purchaser shall purchase the property, together with all buildings and improvements thereon (collectively the. Full Conditions of Sale for 1804 East Fulton Street. Do not trespass or disturb the homeowner or occupant!