the agreement that results after the seller accepts the buyer's offer in writing and notifies the buyer of the acceptance.
A purchase agreement is what?
An offer is said to be "under contract" for the purchase of real estate if it has been acknowledged in writing and is signed by both parties. A purchase agreement is the name given to this written document.
In a purchase agreement, the following details are provided:
The parties involved are identified (buyer and seller)
Defining the property legally
Financial information
Purchase cost
purchaser financing
Amount of the down payment
Closing expenses (and how those will be split between the buyer and seller)
Terms and conditions of the sale
contingencies
Conveyed items in the sale (appliances, fixtures, etc.)
Timelines
Durations for contingencies
Offer's cutoff time
the deadline
to know more about purchase agreement
https://brainly.com/question/10453194
#SPJ4
