This purchase and sale agreement states the terms and conditions of the deal, remedies for default and any contingencies (i.e. The property and improvements which the Seller is agreeing to sell and which the Purchaser is agreeing to purchase is known as.The seller agrees to sell upon terms and conditions set forth therein. Seller shall sell and convey and Purchaser shall purchase the property, together with all buildings and improvements thereon (collectively the. This document contemplates that the buyer and the seller will negotiate and incorporate all of the terms and conditions of the transaction into this document. This sample form is for reference and educational purposes only. In this video we're going to cover how a purchase contract works. This Counter Offer is part of an offer to buy or sell personal property.