We're going to be reviewing and going over the as is residential contract some of the best practices builds and clauses in here. Personal Property is included in the Purchase Price, has no contributory value, and shall be left for the Buyer. 22.(b) "Bill of Sale and Assignment" shall mean a Bill of Sale and Assignment and Assumption Agreement in the form set forth in Schedule B, attached hereto. A purchase and sale agreement is a contract between a buyer and seller for transacting a property in exchange for a specific price. Below is a list of forms that you may download for free from our website.