They will include many details of the agreement. Provisions set forth in the agreement include pricing, financing, closing terms, inspections and surveys, property conditions, and more.A legal real estate contract must have the complete property description as stated in the documents at the County Recorder's Office in Illinois. A newhome sales contract has basically the same requirements as a resale contract. Sellers are required to complete a property disclosure statement in which they respond to questions about the material condition of their home. A new construction purchase and sale agreement or sales contract is similar to a resale contract but applies to a newly built home. Learn about real estate purchase agreements and review tips for agents to protect buyers with well-prepared real estate contracts and negotiations.