NOTICE: This is a legal and binding Agreement for the purchase and sale of property. It is appropriate for most BUT.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. THIS PURCHASE AND SALE AGREEMENT (the "Agreement") is made this __ day of. THIS PURCHASE AND SALE AGREEMENT (this "Agreement") is made as of this ____ day of. THIS FORM MAY BE USED ONLY IN THE SALE OF A ONE TO FOUR-FAMILY RESIDENTIAL PROPERTY. OR VACANT ONE-FAMILY LOTS. 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.