A purchase agreement is a document that is created either by a buyer or seller of a property when he plans to buy or sell the property. It contains a list of terms and conditions related to the purchase of, for example, a house, the purchase price, utilities or furniture to be provided and so on. These agreements are created by real estate agents or brokers or can be made by the interested parties directly.
The purchase agreement must contain names and contact information of the parties involved and a description or address of the property to be sold. The purchase price must be mentioned clearly and in some cases the mode of payment is also included. There can be provision for a change in the purchase price but a deadline or closing date must be fixed for any change in price or other terms. The agreement is usually accompanied by a deposit amount which must be mentioned in the agreement.
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Sample Purchase Agreement
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