Agreement to purchase document

Other Names: Purchase and Sale Agreement Purchasing Agreement Purchase Contract

What is a Purchase Agreement?

A Purchase Agreement, also called a Purchase and Sale Agreement or Purchase Contract, is a two-sided legal document that outlines a sales agreement for goods. Purchase Agreements are more than a simple sales receipt or Bill of Sale. While a Purchase Agreement does include the basics, such as what item is being sold and the purchase price, it also includes protections for the buyer and seller. For example, it can require a seller to state, in writing, that they have the right to sell the property and that it does not have a lien or other burdens that would interfere with the sale of the property. The Rocket Lawyer Purchase Agreement template can be used to document the sale and purchase of nearly any type of good. This contract, however, is not well suited for selling services. Purchase Agreements are most often used in high value or larger transactions because they offer some protection to the buyer and seller. Common transactions that benefit from a Purchase Agreement include purchases of real estate, business assets, vehicles, valuable items, jewelry, artwork, or guns (where allowed).

When to use a Purchase Agreement:

You would like to sell goods, assets, property, etc., and want it documented in writing.
You are taking part in a larger transaction and want it documented so both you and the seller are protected.

Sample Purchase Agreement

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