Home Blog 9 Things to Include in a Purchase Agreement

Jump to Section

Quick Facts — Purchase Agreement Lawyers

A purchase agreement is a legal agreement that formalizes details of buying an industrial, commercial, or residential property between two or more parties. It establishes terms and conditions for the transfer of an asset.

The agreement of purchase and sale is negotiated and agreed upon between the buyer and the seller through a real estate purchase and sale contract.

Suppose you are going to purchase a property. In that case, you will need to sign a commercial real estate purchase agreement or a residential real estate purchase agreement, depending on the type of property. Each type outlines the terms and conditions for that specific property and sale.

Here are 9 things to include in a purchase agreement to ensure that yours is legally valid.

1. Buyer and Seller Information

The real estate purchase agreement should open with an introduction to whom the contract legally binds. These should be the legal first and last names of all sellers and buyers involved in the purchase and transfer of ownership.

Here is an article that reviews the definition and details of a sale and purchase agreement.

2. Sale Inclusions

The contract should follow the introduction of parties with a description of the property being sold. A description of the property, including its full address and square footage, is a good place to start.

You can also include additional belongings included in the sale. For example, if you are allowing buyers to acquire any furniture, domestic appliances, or equipment, then these will be listed in this section of the master purchase agreement.

It is important to note all additional sale inclusions through an asset purchase agreement to ensure total clarity on what the buyers will receive through their purchase.

Here is an article about sale inclusions in real estate.

3. Sale Exclusions

If anything is excluded from the sale of a property, this should also be listed in the contract. Sale exclusions manage the expectations of both parties, and protect the seller from being accused of not completing the sale in earnest when excluded property is not made available to the buyer.

There are many things that a buyer may exclude from the sale of a property that buyers are unaware of. This can come as a big surprise when they move in, and it may lead to legal disputes later.

Examples of common sales exclusions in a purchase agreement are:

  • Light fixtures
  • Kitchen and bathroom appliances and fixtures
  • Heating and cooling equipment
  • Doors and windows
  • Commercial equipment or machinery

Here is an article that explains real estate exclusions further.

Meet some lawyers on our platform

Bryan B.

347 projects on CC
CC verified
View Profile

LeMont J.

29 projects on CC
CC verified
View Profile

Lori B.

375 projects on CC
CC verified
View Profile

Faryal A.

556 projects on CC
CC verified
View Profile

4. Disclosures

Real estate sellers in the United States must legally disclose any risks or hazards on their property. States have their regulations with regards to disclosure requirements, but common ones include things such as:

  • Presence of lead
  • Previous methamphetamine production on the premises
  • Well locations

Here is an article where you can learn more about real estate disclosures.

5. Terms and Pricing Conditions

Real estate terms in a purchase agreement can be confusing. Writing them clearly is important. Most purchases are negotiable, and the conditions may reflect that.

Some terms and pricing conditions include:

Real estate addendums are additional documents or terms added to the original contract. They can clarify information, add to the original agreement, or include further inclusions, exclusions, and negotiation terms.

Here is an article with more information on real estate addendums.

See Purchase Agreement Pricing by State

6. Possession Terms and Conditions

This section of the purchase agreement details how and when the property will be transferred to the new owners. For example, it can describe how and when the buyer will hand over the keys to the home or building after the sale closes. Possession terms can vary depending on the specific agreement and circumstances, and may not always involve the physical transfer of keys.

Here is an article about real estate possession and how it works.

7. Default Clause

A default can happen in real estate if one or both parties do not fulfill part of the contract. In this event, a default clause can lead to a faster resolution by outlining steps to take, although the effect of these clauses may depend on the laws of your jurisdiction.

Default clauses do not waive either party of responsibilities. Still, they offer the potential to close a contract with minimal damages in the event of a default.

Here is an article to learn more about what to do when a purchase agreement defaults.

8. Closing Details

The closing details portion of a purchase agreement states who will pay for the closing costs. Real estate closing costs can be an expensive addition to the property's price; taxes, fees, and agent commissions can account for thousands of extra dollars on top of the property’s selling price.

The closing details portion will likely be negotiated several times before buyers and sellers reach an agreement. Sellers often pay more than buyers, but the exact details vary by contract and property.

Here is an article on closing costs and details in a purchase agreement.

9. Signatures of Parties Involved

The purchase agreement should end with a signature from all the parties involved in the sale. This includes:

  • The buyer(s)
  • The seller(s)
  • The real estate agents/brokers of the buyers and sellers

All signatures should be written at the end of the contract and dated.

Post a project in ContractsCounsel’s marketplace to receive flat fee bids from lawyers for your project. All lawyers have been vetted by our team and peer-reviewed by our customers for you to explore before hiring.


ContractsCounsel is not a law firm, and this post should not be considered and does not contain legal advice. To ensure the information and advice in this post are correct, sufficient, and appropriate for your situation, please consult a licensed attorney. Also, using or accessing ContractsCounsel's site does not create an attorney-client relationship between you and ContractsCounsel.


Meet some of our Lawyers

Allen L. on ContractsCounsel
View Allen
5.0 (279)
Member Since:
October 23, 2025

Allen L.

CEO, Attorney, Certified Master Financial Coach
Free Consultation
Georgia
27 Yrs Experience
Licensed in GA
Georgia

Clear, strategic legal guidance when you need it most—whether you're planning ahead or defending a position. Legal challenges shouldn't feel confusing or overwhelming. Whether you're building an estate plan, structuring a business, or navigating a dispute, my practice is built on clarity, care, and practical strategy. I work with clients who want real solutions—not just paperwork—through planning and advice that truly fits their goals, families, and businesses. Planning & Structure I focus on estate planning, asset protection, and business succession, helping individuals and entrepreneurs organize their assets, reduce risk, and prepare for every stage of life. Whether you're setting up your first living trust, shielding your business from liability, or updating an existing estate plan, you'll receive clear guidance, fixed-fee pricing, and responsive support from start to finish. Each plan I design is tailored to your real-world priorities: preserving wealth, avoiding unnecessary taxes and probate, and ensuring the people you love are protected when it matters most. I also focus on general business matters outlined below. Disputes & Defense When legal conflicts arise—disputed contracts, demand letters, settlement negotiations, or litigation decisions—I provide realistic risk assessment and strategic guidance. I help clients understand their actual exposure (not just best-case scenarios), identify leverage points, and navigate toward efficient resolution. If you're facing a legal claim or need to evaluate your position before responding, I can walk you through the realistic options and their costs. Services: Estate Planning & Asset Protection --Simple wills and powers of attorney --Living trusts for small estates --Buy-sell agreements for family businesses Business Formation & Agreements --LLC or S-Corp formation filings --Operating Agreements / Shareholder Agreements --Founder or Investor Agreements --Bylaws and Minutes templates --Registered agent setup guidance Contracts & Commercial Matters --Service Agreements (consulting, marketing, software, design, etc.) --Independent Contractor Agreements --Employment contracts and offer letters --Non-compete, non-solicitation, or confidentiality agreements --Employee handbooks or HR policy updates --Termination or severance agreements --NDAs (Non-Disclosure Agreements) --Partnership or Joint Venture Agreements --Sales or Vendor Contracts --Licensing or IP Agreements Terms and conditions SaaS Platforms --Terms of Service --Privacy Policy --Independent Contractor Agreements --Customer/User Agreements --Liability Waivers --Cancellation & Refund Policy --Non-Solicitation Clauses --Marketplace compliance documents Real Estate --Commercial lease drafting or review --Residential lease review --Purchase & sale agreements --Short-term rental (Airbnb) contracts --Property management agreements Professional Approach: I leverage modern legal research and writing technologies—including AI-assisted tools—to enhance the quality, speed, and clarity of my analysis. Like many legal professionals today, I use these tools to organize research, improve communication, and catch errors. On research tools: case law and statutory verification runs through a vLex/Fastcase subscription, and drafting and first-pass review is AI-assisted. Every analysis I provide is thoroughly reviewed and reflects my independent professional judgment as a licensed attorney. AI is a tool that supports my work; it does not replace it.

Recent  ContractsCounsel Client  Review:
5.0

"Allen handled my founder exit from a Delaware C corp: a repurchase of my unvested shares, a transfer of my vested shares, a board consent, a stock power and a mutual release. He explained each document in plain terms, answered every follow-up quickly, and turned revisions around the same day. When I had last-minute questions before signing, he gave clear, direct answers. It was a smooth, well-organized process at a fair flat fee. Highly recommend him for startup equity work."

Ariel H. on ContractsCounsel
View Ariel
5.0 (3)
Member Since:
September 11, 2026

Ariel H.

Solo Practitioner
Free Consultation
New York, NY
2 Yrs Experience
Licensed in NY
Fordham University School of Law

I am a New York-barred attorney and the founder of Ariel Herzog Law PLLC, a corporate practice focused on business law and on the privacy, security, and AI issues that arise in commercial contracting. I began my career in the corporate group at Willkie Farr & Gallagher LLP in New York, working in mergers and acquisitions, capital markets, and general corporate matters. I handle transactions across the full lifecycle — letters of intent, purchase agreements, due diligence, disclosure schedules, ancillary documents, and closing — as well as commercial agreements, entity formation, and corporate governance. My practice also involves data processing agreements, security addenda, vendor terms, and AI and data diligence, including helping companies resolve enterprise contracts stalled in a customer's security review. I am also the founder of Quarterback, an AI platform for managing M&A transactions.

Recent  ContractsCounsel Client  Review:
5.0

"Ariel was quick, thorough and delivered exactly what I needed."

Alexander N. on ContractsCounsel
View Alexander
5.0 (85)
Member Since:
June 17, 2024

Alexander N.

Founder
Free Consultation
Los Angeles, California
10 Yrs Experience
Licensed in CA
University of Southern California Gould School of Law

Having overseen over $1.2 billion in transaction value, we are able to provide top-tier service at affordable rates, with much more personalized attention and fast turnarounds. After working for a AM Law Top 100 firm, I started my own firm and have been lucky enough to represent numerous conglomerates (FOX, Endeavor, etc.), promising startups, small businesses and private individuals. Our areas of expertise - Business Formations and Operating Agreements; Capital Raises and Debt Financing; Commercial Transactions; M&A; Real Estate; Intellectual Property; Employment and Hiring; Outside General Counsel; Corporate Agreements and Governance; Litigation and Dispute Resolution. We have been featured in The Wall Street Journal, Marketwatch, Yahoo Finance, Variety, Business Insider, Los Angeles Magazine, the LA Times, and others. We are driven by an unwavering commitment to our clients, going above and beyond to deliver results.

Recent  ContractsCounsel Client  Review:
5.0

"Alex Nahai was a pleasure to work with. He helped review due diligence and closing docs for a NNN commercial real estate investment and did a great job."

Curt B. on ContractsCounsel
View Curt
5.0 (5)
Member Since:
March 25, 2023

Curt B.

Managing Partner
Free Consultation
Los Angeles, California
12 Yrs Experience
Licensed in CO, DC, IL, MI, OR
UCLA School of Law

Curt Brown has experience advising clients on a variety of franchising, business litigation, transactional, and securities law matters. Mr. Brown's accolades include: - Super Lawyers Rising Star - California Lawyer of the Year by The Daily Journal - Pro Bono Attorney of the Year the USC Public Interest Law Fund Curt started his legal career in the Los Angeles office of the prestigious firm of Irell & Manella LLP, where his practice focused on a wide variety of complex civil litigation matters, including securities litigation, antitrust, trademark, bankruptcy, and class action defense. Mr. Brown also has experience advising mergers and acquisitions and international companies concerning cyber liability and class action defense. He is admitted in California, Florida, D.C., Washington, Illinois, Colorado, and Michigan.

Recent  ContractsCounsel Client  Review:
5.0

"I was very impressed with the responsiveness and knowledge brought to my situation."

Sarah S. on ContractsCounsel
View Sarah
5.0 (17)
Member Since:
June 19, 2023

Sarah S.

Principal Attorney and Founder
Free Consultation
Los Angeles, California
22 Yrs Experience
Licensed in CA
Loyola Law School

With 20 years of transactional law experience, I have represented corporate giants like AT&T and T-Mobile, as well as mid-size and small businesses across a wide spectrum of legal needs, including business purchase agreements, entity formation, employment matters, commercial and residential real estate transactions, partnership agreements, online business terms and policy drafting, and business and corporate compliance. Recognizing the complexities of the legal landscape, I am dedicated to providing accessible and transparent legal services by offering a flat fee structure, making high-quality legal representation available to all. My extensive knowledge and commitment to client success establishes me as a trusted advisor for businesses of all sizes.

Recent  ContractsCounsel Client  Review:
5.0

"Sarah was extremely helpful in making me contracts that I needed for wholesaling real estate. Also gave me all the licenses I needed for my business and answered all my questions on information I was unsure of in the business. Will definitely only be going to Sarah for any of my legal needs."

Tony C. on ContractsCounsel
View Tony
5.0 (3)
Member Since:
May 2, 2025

Tony C.

Attorney at Law
Free Consultation
Columbus, Ohio
35 Yrs Experience
Licensed in OH
Capital University Law School

I am a skilled attorney with over 36 years of legal experience with an emphasis on commercial and residential real estate, estate planning, probate and criminal appeals.

Recent  ContractsCounsel Client  Review:
5.0

"Tony was fantastic to work with. Clear in his communication, incredibly helpful, went above and beyond for us and made sure we got the right result. Highly recommend."

Jennifer W. on ContractsCounsel
View Jennifer
Member Since:
April 29, 2025

Jennifer W.

Real Estate Attorney
Free Consultation
Dallas, TX
21 Yrs Experience
Licensed in TX
Southern Methodist University

I am a seasoned real estate attorney with over 20 years of experience advising clients across all facets of real estate development, leasing, and construction. Known for a practical and solution-oriented approach, I have guided developers, property owners, and investors through complex transactions, contract negotiations, and regulatory challenges with efficiency and clarity. I also worked in house for the largest developer for Target retail centers in North Texas.

Find the best lawyer for your project

Browse Lawyers Now

See Real Purchase Agreement Projects

Texas Digital Artwork Purchase Agreement Drafting
  • Texas
  • 4 lawyer bids
  • $350 - $850
View Details
Florida Condo closing contract Review
  • Florida
  • 3 lawyer bids
  • $300 - $500
View Details
Florida Asset purchase agreement Drafting
  • Florida
  • 4 lawyer bids
  • $1,500 - $3,550
View Details
California Company I hold a small portion of stock in is being bought out and I have been advised to have a lawyer review the purchase contract. Review
  • California
  • 5 lawyer bids
  • $1 - $1,000
View Details
Arizona Purchase and Sale Agreement for Small Online Business Purchase Drafting
  • Arizona
  • 6 lawyer bids
  • $600 - $1,300
View Details
Georgia Review purchase Agreement for Small Franchise Aquisition. Review
  • Georgia
  • 7 lawyer bids
  • $325 - $2,000
View Details

See all Purchase Agreement projects

Quick, user friendly and one of the better ways I've come across to get ahold of lawyers willing to take new clients.

View Trustpilot Review

Need help with a Purchase Agreement?

Create a free project posting
Clients Rate Lawyers 4.9 Stars
based on 24,305 reviews
CONTRACT LAWYERS BY TOP CITIES
See All Business Lawyers

Contracts Counsel was incredibly helpful and easy to use. I submitted a project for a lawyer's help within a day I had received over 6 proposals from qualified lawyers. I submitted a bid that works best for my business and we went forward with the project.

View Trustpilot Review

I never knew how difficult it was to obtain representation or a lawyer, and ContractsCounsel was EXACTLY the type of service I was hoping for when I was in a pinch. Working with their service was efficient, effective and made me feel in control. Thank you so much and should I ever need attorney services down the road, I'll certainly be a repeat customer.

View Trustpilot Review

I got 5 bids within 24h of posting my project. I choose the person who provided the most detailed and relevant intro letter, highlighting their experience relevant to my project. I am very satisfied with the outcome and quality of the two agreements that were produced, they actually far exceed my expectations.

View Trustpilot Review

Need help with a Purchase Agreement?

Create a free project posting
Clients Rate Lawyers 4.9 Stars
based on 24,305 reviews

Want to speak to someone?

Get in touch below and we will schedule a time to connect!

Request a call

Find lawyers and attorneys by city