An APA spells out the conditions and terms under which a seller will transfer all of the assets that belong to the business to a buyer. This guide provides basic information to consider before you enter into a commercial lease in New York City.Topics include location selection,. 1.2 Agreement to Purchase. A sales agreement for buying a business is necessary for keeping both the parties on the same page and avoiding any legal trouble. CONTRACT OF SALE – OFFICE, COMMERCIAL AND MULTI-FAMILY RESIDENTIAL. PREMISES. If Buyer extends, Seller may want to: (1) have Buyer bear the risk of changes in circumstances (e.g. An asset purchase agreement is a legal document used when buying or selling a small business. Read on to understand the basics. Form of Asset Purchase Agreement.