This business sale agreement template can be used as a binding document to govern the sale of a business to a new owner. A purchase and sale agreement is a contract between a buyer and seller for transacting a property in exchange for a specific price.Business sale agreement includes the term "Sale" that define and agreement to the terms of the sale. Use a Business Bill of Sale to set out the terms for the sale of a business and transfer the ownership and all assets to the buyer. Additionally, provide the effective date of the agreement. Step 1 – Fill Out the Buyer and Seller Information. 1. Seller. Customize any template in minutes with PandaDoc.