The property and improvements which the Seller is agreeing to sell and which the Purchaser is agreeing to purchase is known as. THIS PURCHASE AND SALE AGREEMENT (this "Agreement") is made as of this ____ day of.A purchase and sale agreement is a contract between a buyer and seller for transacting a property in exchange for a specific price. The New York residential purchase and sale agreement allows a prospective homeowner to make a written offer to a seller on a residential property.