We've included a lengthy, typical NYC real estate purchase contract geared towards new development for your review below. 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. The property and improvements which the Seller is agreeing to sell and which the Purchaser is agreeing to purchase is known as. Sale of Property; Purchase Price. 1.1. 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. Condition of Title, in the amount of the Purchase Price showing title to the Property vested in. Use and store this free template to specify obligations between sellers and buyers. From drafting to signing, Contractbook is with you every step of the way.