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what is a purchase agreement

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October 13 2013 - US
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Answers (3)

A purchase agreement is a type of legal document outlining the different conditions and terms that are related to the sale of good, or in this case a home.  It creates a legally binding contract between the buyer and the seller. I hope this helps, if you have any further questions or if you would like a loan, feel free to contact me!

Good Luck!
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October 14 2013
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I see, i thought that was the just of it. Mahalo!
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October 13 2013
Aloha!

The purchase agreement is the same as a purchase contract. Simply put, it is the written agreement for one person to buy real property from someone else. 

There is a detailed explanation of all the things you should look for in a purchase contract on the "Buying Process" page here: http://www.zillow.com/wikipages/Real-Estate-Purchase-Contract-Essentials/

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October 13 2013
 
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