1 Taking of Possession. A property exchange agreement is a contract between two parties in which each party agrees to exchange specific assets.• Exchange Agreement • Exchange Closing Instructions. Exchange Sequence – Phase I. Contract. If the Property is sold or a contract for the sale or exchange of the Property is entered into during the term of this Agreement, the Broker may. Property and complete the Exchange as provided in this Agreement. Of and filling out a preprinted form contracts for Seller's review and approval. Is it possible to exchange out of one property and into multiple properties? Save time and create a legally binding Georgia Real Estate Purchase Agreement with PandaDoc. Customize, optimize, and streamline the contract process.