A Real Estate Purchase and Sale Agreement with Joint Escrow Instructions is a legally binding document that outlines the terms of a real estate transaction between a buyer and seller. This agreement includes details such as the purchase price, closing date, possession date, earnest money deposits, financing, inspection and repair provisions, and title insurance. It also outlines the responsibilities of the buyer and seller, as well as any third-party escrow services that will be used to facilitate the transaction. There are two main types of Real Estate Purchase and Sale Agreement with Joint Escrow Instructions: standard agreements and customized agreements. Standard agreements are typically used in residential real estate transactions and provide a template for the buyer and seller to fill in the purchase and sale details. Customized agreements are typically used in commercial real estate transactions and can be tailored to the specific needs of the transaction.