What is the purchase agreement?
A purchase agreement is a contract between the buyer and seller for the ownership transfer of real property. We submit our offers on this document, and once the seller accepts the offer, it becomes binding.
In real estate sales, there are a number of interchangeable terms for this contract, including:
- Offer Contract
- Purchase Agreement
- Purchase and Sale Agreement (PSA)
- Residential Purchase Agreement (RPA)
- Sales Contract
- Real Estate Purchase Agreement
- Offer To Purchase Real Estate
Names for this agreement may vary by the area you're in or the specific contract used.