Purchase agreement is a legal document that states the sale of goods and services that outlines the terms and conditions linked with a transaction. Purchase agreements may be absolute or conditional. It usually involves the money paid by the buyer and goods transferred by the seller. One of the most common areas where a purchase agreement is normally used is within the real estate industry. Purchase agreement serves as a proof that a particular property is under the ownership of some person. Detailed information about the buyer and seller, property sold, sales price, mode of payment, terms and condition about transfer of ownership etc.
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