1. Home

Discuss in my forum

Purchase Contract

By

Definition: A real estate purchase contract is a binding agreement (between two or more parties with legal capacity) to purchase real property. It is based on legal consideration.

At the time of writing, Elizabeth Weintraub, DRE # 00697006, is a Broker-Associate at Lyon Real Estate in Sacramento, California.

Also Known As: Contract to Purchase Real Estate or Residential Purchase Agreement
Examples:
The Andersons signed a purchase contract and put down $1,000 deposit to buy their new home, which the Jones accepted upon presentation.

©2014 About.com. All rights reserved.