It will also need to include the information of the business being sold, such as name, location, description, and business entity type. Identify the parties involved in the transaction. 2.A Pennsylvania residential purchase agreement establishes a legal arrangement between a buyer and a seller in a real estate transaction. Seller and Buyer agree as follows: 1. Parties. Explore our guide on business purchase agreement PDFs, covering all you need to know from drafting to common mistakes. New entity filing forms are available on the "Initial Forms" tab.