ABA Family Legal Guide

Buying and Selling a Home

The Steps of Buying and Selling a Home

Making an Offer: The Purchase Contract

What is the purchase contract?

The purchase contract may be called a sales contract, a real estate contract, a purchase agreement, a sales agreement, or a purchase and sale agreement. Whatever it is called, it is a document that when signed by both parties is a legal contract that will govern the entire transaction. Before signing such a contract, you will want to review it carefully and have your lawyer review it. Remember, once signed, you are obligated to fulfill your part of the contract.