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A purchase and sale agreement, also abbreviated as P&S or PSA, is a standard form that buyers and sellers complete as part of a real estate transaction. It's generally drawn up by the seller's agent or a real estate attorney after a buyer and seller agree on a home's purchase price.

The buyer keeps the original copy of Agreement to Sell (one copy is scanned and kept with Registrar ) . If the buyer has availed of loan then the lender keeps the original copy of the Agreement to sell in custody till the loan is repaid . Post this, the document is returned to the Buyer.

Elements of a sales agreement A strong purchase agreement will include: Buyer and seller names and contact information. Description of goods, services, or property being purchased. Payment amount, dates, and method.

At its most basic, a purchase agreement should include the following: Name and contact information for buyer and seller. The address of the property being sold. The price to be paid for the property. The date of transfer. Disclosures. Contingencies. Signatures.

An agreement for sale of goods/property is drafted stating a seller's and buyer's willingness to sell and buy respectively, goods or property. It determines the terms and conditions of sale between the parties. The agreement is binding on both the parties.

Each party should get an original signed copy of the contract for their files. That means if there are two parties to the contract, two identical contracts must be signed. One original copy of the contract should go to you, and one original copy should go to the other party.

In any case, if you are a party to the contract, you are entitled to have a copy of it for your records. Deliver your request. Call, visit, send the e-mail, or mail the letter.