purchase agreement
This signed contract is between the buyer and the seller. It states the terms and conditions agreed upon for for the sale of the property to take place.
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The following dictionary definition list is provided for clarification only. Note that many definitions are not directly applicable to mortgages, loans or other financial terminology in this glossary. Used with permission: WordNet 2.1 Copyright 2005 by Princeton University. All rights reserved.
purchase
Noun: purchase (the acquisition of something for payment) "they closed the purchase with a handshake"
Noun: purchase (something acquired by purchase)
Noun: purchase (a means of exerting influence or gaining advantage) "he could get no purchase on the situation"
Noun: leverage, purchase (the mechanical advantage gained by being in a position to use a lever)
Verb: buy, purchase (obtain by purchase; acquire by means of a financial transaction) "The family purchased a new car"; "The conglomerate acquired a new company"; "She buys for the big department store"
agreement
Noun: agreement, understanding (the statement (oral or written) of an exchange of promises) "they had an agreement that they would not interfere in each other's business"; "there was an understanding between management and the workers"
Noun: agreement, correspondence (compatibility of observations) "there was no agreement between theory and measurement"; "the results of two tests were in correspondence"
Noun: agreement, accord (harmony of people's opinions or actions or characters) "the two parties were in agreement"
Noun: agreement, arrangement (the thing arranged or agreed to) "they made arrangements to meet in Chicago"
Noun: agreement, concord (the determination of grammatical inflection on the basis of word relations)
Noun: agreement (the verbal act of agreeing)
- purchase agreement -
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