Contract to purchase

Contract to purchase,

Definition of Contract to purchase:

  1. A written agreement that, once signed, constitutes a binding offer between a buyer and a seller. A contract to purchase typically covers as much detail as possible about the terms and conditions of the offer. This includes the total purchase price, how much earnest money is to be deposited (and when), and the recourse for either party in the event of a default.

Meaning of Contract to purchase & Contract to purchase Definition