(Joint Escrow Instructions). 1. A Nevada purchase agreement is a legal document that outlines the terms for the sale of real estate between a seller and a buyer.Know who you are dealing with: Get their first and last names. Verify they are the property owner(s). Download a Nevada Residential Purchase Agreement to ensure clear terms and legal compliance in your property sale. Purchasers agree to purchase and seller agrees to sell the property described below subject to the following terms and conditions. TIME: Time is of the essence in the performance of obligations contained in this contract. NEVADA LAW: Nevada law governs this contract. This video explains the Residential Purchase Agreement to our clients. This form collects personal, financial, and housing history information from potential tenants.