The property and improvements which the Seller is agreeing to sell and which the Purchaser is agreeing to purchase is known as. Use a commercial real estate purchase agreement to secure transactions and protect your interests effectively.An attorney's explanation of an Office Purchase and Sales Agreement and its free template for commercial real estate. Schedule A. Description of premises (to be attached). 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. 3. Property. Fill out the street (physical) address of the property the buyer is purchasing. Include any unit or apartment number, if applicable.