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. In consideration of the mutual agreements contained in this Commercial Contract of. All notices hereunder shall be delivered in the manner set forth in the Sale Contract. Looking for a Texas real estate purchase agreement template? Download this free version today. An alphabeticalbytopic list is provided below containing information and downloadable PDF forms, when available, or links to external resources.