An Agreement of Purchase and Sale is a written contract between a seller and a buyer for the purchase and sale of a particular property. In the Agreement, the buyer agrees to purchase the property for a certain price, provided that a number of terms and conditions are satisfied.
This contact is an agreement that a buyer and a seller sign when going through a property sale transaction. It outlines the terms and conditions that the buyer and seller promise to abide by when the property is sold. Some of the most important terms deal with the property purchase price, terms of payment, how the buyer will receive the property, what property features are included in the price, and title clearance.