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A purchase & sale agreement (P&S) is a legal document prepared and agreed to by attorneys representing both the buyer and seller in the home purchase transaction. The P&S is signed by both the buyer and seller, and will include final sale price and all terms of the purchase.

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.

Without a valid reason to terminate a contract, the seller can only get out of the sale legally if the buyer releases them. There are two ways this typically happens: More common: The buyer backs out using one of their contingencies. Less common: Both parties mutually agree to cancel the contract.

The purchase and sale agreement is the contract between the buyer and seller of real estate. It sets out the obligations of each party from the time the property is taken off the market to the closing. A standard form agreement is used in most residential real estate transactions in Massachusetts.

The seller's agent or attorney will draft the Purchase and Sale Agreement (P&S).

The Commonwealth of Massachusetts does not have any jurisdiction or regulatory oversight over Condominiums.

The Condominium Act is an enabling statute in that it provides planning flexibility to developers and unit owners beyond the statutory minimum required criteria for setting up condominiums. Tosney v. Chelmsford Village Condominium, 397 Mass. 683, 686 (1986).

Massachusetts Purchase and Sale Review FAQ The tradition and custom in Eastern Massachusetts is for the Buyer to sign it first. Legally speaking, this may not matter as it is not a valid contract until both parties sign.