![]() ![]() Note that the buyer can’t use a purchase agreement to prove ownership - you’ll need a bill of sale to officially transfer ownership of the item from the seller to the buyer. This document can also be referred to as a: For simpler transactions, a bill of sale or receipt may be enough. ![]() To be legally binding, it needs to be signed by both the buyer and the seller before any payment is made and goods delivered. Purchase agreements are often used for high-value items or custom orders where the buyer or seller needs assurance that both parties will follow through with the agreed-upon terms.Ī purchase agreement is typically used for more complicated transactions, where several aspects may be involved such as the terms of payment or the delivery of goods. It is a document that outlines the terms and conditions of a sale. Table of ContentsĪ purchase agreement is a legal document between a buyer and a seller. Learn more about purchase agreements below and download a template so you can start writing yours today. Whether you’re buying property, business, or a car, use a purchase agreement to clearly outline all the terms and conditions for both parties. ![]()
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