An Arizona residential purchase agreement is a legal document outlining the terms and conditions for a buyer's purchase of residential property from a seller. The property and improvements which the Seller is agreeing to sell and which the Purchaser is agreeing to purchase is known as.The following terms and conditions apply to all PCC purchases in addition to any terms set forth on the face of an. Purchase and Sale Agreement. A purchase and sale agreement is a contract between a buyer and seller for transacting a property in exchange for a specific price. 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. THIS PURCHASE AGREEMENT ("Agreement") is made as of the Effective Date of this. With our free Sales Agreement form, you'll be ready to print or download your contract in no time.