This is a legally binding Real Estate Purchase Contract ("REPC"). If you desire legal or tax advice, consult your attorney or tax advisor.The Closing, or Settlement Deadline is usually about 30 days for a cash sale, or 42 days for a sale using financing. Need to sell your house fast in Salt Lake City, UT? We buy houses for a fair cash price because we are cash home buyers. You have to use Conditional Deed of Sale wherein certain clauses should be added to the normal DOAS. Keep the bank guarantee and stipulate that the downpayment. A loan purchase agreement is an agreement between a lender and borrower that states how a secured financial asset, such as real estate, will be purchased. A memorandum of purchase and sale agreement is a legal document that protects a buyer from being outbid after the seller accepts their offer. A letter of intent is a short non-binding one-page list or summary of price and terms.