Identify the parties involved in the transaction. 2. This business sale agreement template can be used as a binding document to govern the sale of a business to a new owner.Use and store this free template to specify obligations between sellers and buyers. From drafting to signing, Contractbook is with you every step of the way. A purchase and sale agreement is a contract between a buyer and seller for transacting a property in exchange for a specific price. Download Sale Purchase Agreement Format. You can also download Sale Purchase Agreement Format in the PDF formats. Additionally, provide the effective date of the agreement. Step 1 – Fill Out the Buyer and Seller Information. 1. Seller.