What Is Purchase Agreement?
Also known as: Real Estate Purchase Contract
A purchase agreement is the contract that sets the price, terms, contingencies, closing timeline, and obligations between buyer and seller.
A purchase agreement is the contract that sets the price, terms, contingencies, closing timeline, and obligations between buyer and seller.
Purchase Agreement explained
A purchase agreement is the contract that sets the price, terms, contingencies, closing timeline, and obligations between buyer and seller. In a wholesale operation, the term matters because it connects the seller conversation to a real next step instead of leaving the team with vague notes.
In wholesaling, the purchase agreement is the document that creates the deal rights the investor may close on, assign, or double close. VA Horizon cares about this because callers, lead managers, and acquisitions teams all need the same language inside the CRM. When the term is tagged correctly, follow-up becomes cleaner, handoffs improve, and the operator can see whether the lead is worth more time.
Operators should use state-specific, attorney-reviewed contracts and understand assignment, inspection, and disclosure language.
Example
The agreement says the investor will buy the property for $145,000, close in 21 days, deposit earnest money, and keep an inspection period.
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