What is an Agreement of Purchase and Sale?

Sometimes referred to as an Offer to Purchase, this is essentially the contract between Buyer & Seller that sets out the details of the purchase / sale of the home as well as the conditions of the sale. Mortgage Lenders need a copy of this document in order to grant a final mortgage. This document provides the lender all the details of your new home purchase, including the precise amount of money they will need to issue to the buyer.