MAKE YOUR FREE Purchase Agreement

A Purchase Agreement can be used to document the sale and purchase of nearly any type of good. A Purchase Agreement, however, is not well suited for selling services. Purchase Agreements are most often used in high value or larger transactions because they offer some protection to the buyer and seller. Common transactions that benefit from a Purchase Agreement include purchases of real estate, business assets, vehicles, valuable items, jewelry, artwork, or guns (where allowed).

This Purchase Agreement is for general purposes, but we also offer contracts for specific uses, such as:

• Purchase Agreement for Personal Property
• Property Sales Agreement
• Business Sale Agreement
• Stock Purchase Agreement
• Franchise Purchase Agreement
• Asset Purchase Agreement
• Real Estate Purchase Agreement

If you are selling a service, see the service contracts available in the Rocket Lawyer document library.

You can make a Purchase Agreement for free with Rocket Lawyer. Use the Purchase Agreement document if:

• You're buying goods and want written proof of the agreement.
• As a buyer, you want assurance that the seller has the legal right to sell the goods.
• As the seller, you want to document payment agreements.

This Purchase Agreement document can be used to make a contract between individuals, married couples, businesses, or trusts. The Rocket Lawyer document builder can make a Purchase Agreement that works in every state.

The Rocket Lawyer document builder is easy to use. You simply submit a bit of information and the legal language is automatically generated for you. Documents are often tailored to the state where the transaction will happen.

You may need to submit the following information to make your Purchase Agreement:

• Buyer and seller information, such as name, address, and whether they are an individual, business, or trust.
• What is being sold, or a legal description of property.
• Purchase price, amount of earnest money, and whether the buyer will be acquiring financing.
• Whether the property is asserted to be free of liens or other encumbrances.
• If the seller will be making any warranties. 
• When the property will be transferred.

Please note: Documents vary depending on the state. If the generated document doesn't seem to fit your needs, you may want to try one of the more specific Purchase Agreements listed above.

A Bill of Sale documents a transfer of property and often an exchange of money whereas a Purchase Agreement is usually made before money is exchanged and includes specific requirements both the seller and the buyer must meet before the property ownership is transferred. For example, if you need to ensure that the seller has the right to sell the property that they are offering, a Purchase Agreement includes those provisions. However, you might use a Bill of Sale if you paid for a used car, have the signed-over title in-hand, and will be requesting a title transfer from the DMV.

No. You can make a Purchase Agreement using Rocket Lawyer and have it signed by the appropriate parties to make it valid. If you feel it adds extra assurance, you can ask for a witness signature or an affidavit that declares that the signer saw you and the other party sign the document. If the Purchase Agreement is for a large purchase, such as for real estate or a business purchase, you may benefit from having a lawyer look it over before it is signed as an added layer of protection. In the event of a dispute, a lawyer can help you file for damages.

A Purchase Agreement can and may include a date for when the agreement expires.

In most cases, yes. The IRS and your local tax agency expect you to report any gain on property sold. You can also deduct losses. You are expected to pay your tax obligation on any property you sell, such as real estate, land, vehicles, or other assets. To learn more, see Do I need to pay taxes on private sales transactions.