THIS REAL ESTATE PURCHASE AND SALE AGREEMENT (this "Agreement") is dated as of. A purchase and sale agreement is a contract between a buyer and seller for transacting a property in exchange for a specific price.This Addendum is intended for use in the City of Oakland. Please also review the separate. I'm gonna break down all the terms and conditions so you can understand what it means and we're gonna fill that out so you can have a real-life example of it. The following Basic Provisions form a part of this Amended and Restated Purchase and Sale Agreement and Joint Escrow Instructions (this "Restated Agreement"). In real estate, a purchase agreement is a binding contract between a buyer and seller that outlines the details of a home sale transaction. This form is intended for use with the California Association of REALTORS® forms RPA "Residential. Free Real Estate Purchase Agreement. Answer a few simple questions.