THIS PURCHASE AND SALE AGREEMENT (this "Agreement") is made as of this ____ day of. A New York residential purchase agreement outlines the terms of a transaction between the buyer and the seller of a residential property.The offer to purchase real estate form comes in various forms in New York, and can vary based on the brokerage firm. I'm gonna break down all the terms and conditions so you can understand what it means and we're gonna fill that out so you can have a real-life example of it. Purchase and Sale Agreement. A purchase and sale agreement is a contract between a buyer and seller for transacting a property in exchange for a specific price. The New York residential purchase and sale agreement allows a prospective homeowner to make a written offer to a seller on a residential property.