What document is typically signed to indicate that both the buyer and seller are in agreement regarding the sale?

The purchase agreement is the document that signifies the mutual acceptance of the terms of a sale between the buyer and seller. This legally binding contract outlines the specifics of the transaction, including the purchase price, the property description, and any contingencies that could affect the sale. It serves as the foundation of the real estate transaction, ensuring that both parties have a clear understanding of their obligations and agreements.

Other documents, while important in the real estate process, serve different purposes. The listing agreement is a contract between the seller and a real estate agent that authorizes the agent to list the property for sale. The buyer’s disclosure is a document that informs the buyer of potential issues with the property but does not establish the terms of the sale itself. The closing statement summarizes the financial details at the time of closing but is not the initial agreement between the buyer and seller.