The property and improvements which the Seller is agreeing to sell and which the Purchaser is agreeing to purchase is known as. NOTICE: This is a legal and binding Agreement for the purchase and sale of property.It is appropriate for most BUT. Upon the making of a decision to sell the Property, the highest bidder shall execute a contract, a copy of which is included in the bid package. Many standard forms are available below. All forms are categorized into their respective departments.