You are here:About>Home & Garden>Home Buying / Selling> Market Facts & Trends> Glossary> Glossary P> Purchase Contract
About.comHome Buying / Selling
Newsletters & RSSEmail to a friendSubmit to Digg

"Purchase Contract"

From Elizabeth Weintraub,
Your Guide to Home Buying / Selling.
FREE Newsletter. Sign Up Now!
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.
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.
 All Topics | Email Article | | |
Advertising Info | News & Events | Work at About | SiteMap | Reprints | HelpOur Story | Be a Guide
User Agreement | Ethics Policy | Patent Info. | Privacy Policy©2008 About, Inc., A part of The New York Times Company. All rights reserved.