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The purpose of a real estate purchase and sale agreement is to clearly express the terms and conditions of the sale between the parties. How to Fill Out the Florida Real Estate Contract For Sale and PurchaseWe'll See You At The Closing Table!LoKation Real Estate Managing Broker, Jonathan Lickstein, delivers a training on the As-is contract. A Real Estate Purchase Agreement is a contract that outlines the terms and conditions of a residential property sale. Find out if this document is legally binding and learn more about your options for completing a FSBO agreement to sell your property. A real estate purchase agreement is a legally binding agreement that governs the purchase and sale of a property. Purchase agreements are most commonly used for creating a transaction between a buyer and a seller of residential real estate. Unusual real estate offer and contracting procedures in the state of New York. By Christina DeIasi. The amount of the seller assist depends on the full purchase price of the property. 3.