A simple form asset purchase agreement (APA) for the sale and purchase of a small business, operating from a single freehold site, as a going concern. An asset purchase agreement (APA) is a legal document that contains the terms and conditions of a sale and purchase of assets between a buyer and a seller.Our commercial property solicitors deal with all aspects of asset purchase agreements (APAs) and can act for either buyers or sellers of commercial property. Create your Asset Purchase Agreement. Fill in the form below to have our free APA template emailed to you. An Asset Purchase Agreement is a contract for the purchase of some of a business' specific assets, in which the terms of the sale are set out. The Seller has agreed to sell, and the Purchaser has agreed to purchase, the Assets (as defined below) on the terms of this agreement. It's an agreement which sets out the terms under which business and assets are to be purchased or transferred.