A real estate purchase agreement is a binding agreement, usually between two parties, on the transfer of a house or other real estate. Both parties must be able to proceed with the purchase, exchange or other assignment of the property in question, and the contract is based on legal consideration which is what is exchanged for the property. It`s almost always a certain amount of money, but a counterparty could also be another property or a promise to pay a certain amount of money later. While many parts of your contract are quite simple, for example. B the price you pay and when the conclusion takes place, other parts of the sales contract may be a bit confusing, especially for first-time home buyers. Make sure you understand the entire sales agreement before you sign it. .