Business / Real Estate / Contract Of Sale: A contract for the purchase and sale of real property in which the buyer agrees to purchase for a certain price and the seller agrees to convey title by way of a deed or an assignment of lease (for leasehold property). In addition to binding the parties to the purchase and sale of the property during the period of time required to close the transaction, the contract frequently serves as the initial directions to the closing agent or escrow company to process the mechanics of the transaction. In essence, the contract of sale is an executory contract to convey property, serving as the vehicle to get to the deed, which finally conveys title, it is the blueprint for the entire transaction. Some of the many names for this contract are sales contract, purchase agreement, deposit receipt, offer and acceptance, agreement of sale, offer to lease or purchase and sale agreement.
Contract Noun Synonyms: engage, agree, promise, covenant, undertake
Contract Verb Synonyms: catch, acquire, get, come down with, develop, become infected with, go down with
Contract Adjective Synonyms: agreement, understanding, deal, bargain, arrangement, pact, commitment, obligation, compact
Sale Noun Synonyms: selling, traffic, vending, marketing, trafficking, trading, trade, exchange, transaction
Business / Real Estate / Buying On Contract: A type of contract used in connection with the sale of real property where the seller retains legal title to the property until some future date, usually when the full purchase price has been paid. Re MORE
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