A Texas residential purchase agreement outlines the terms and conditions of an offer to purchase real estate. Streamline your real estate transactions in Texas with our customizable purchase agreement.Ensure legal compliance and purchase or sell properties. Get a comprehensive understanding of Texas real estate purchase and sale agreements with our indepth overview and free template. 1. Identify the buyer and seller in the agreement. 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. PARTIES: The parties to this contract are. (Seller) and. (Buyer). Step 1 – Fill Out the Buyer and Seller Information. 1. Seller.