Contract to Purchase

Definition

  • A document used by a property buyer and seller to approve the price and other terms of the transfer of title. Also known as an agreement of sale, a purchase contract, or a sale contract.

Synonyms
property sale, legal document, arrangement, agreement

Related Terms and Acronyms

  • Certificate of Sale Definition,
    • An affidavit issued at a judicial or tax sale that entitles the buyer to the deed to the property purchased after court confirmation.
  • Contract Definition,
    • An agreement between two or more parties that can be enforced by law.
  • Contract For Deed (CFD) Acronym,
    • An agreement for sale of property in which the buyer takes possession while making payments, but the seller holds title until full payment is made. Also called a land contract.
  • Purchase Agreement Definition,
    • A written promise to pay a specific amount for a property at a specified time. The purchase agreement is a written statement of the offer, which both the borrower and the seller will sign if the offer is accepted.
  • Sales Contract Definition,
    • A legal written document that details the agreed upon conditions between a seller and a buyer regarding the sale of a specific property. Also called an "Agreement of Sale."
  • Statute of Frauds (SOF) Acronym,
    • A law which provides that certain contracts must be in writing to be enforceable at law. This includes real estate contracts.
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