Which real estate document is essential for finalizing a property sale?

The purchase agreement is crucial for finalizing a property sale because it outlines the terms and conditions agreed upon by both the buyer and the seller. This document serves as the binding contract that details the purchase price, closing date, contingencies, and other essential aspects of the sale. It ensures that both parties have a clear understanding of their obligations and provides legal protection if either party fails to comply with the terms.

A promotional brochure, while useful for marketing and appealing to potential buyers, does not contribute to the legal completion of the sale. Similarly, a listing agreement is important for establishing the relationship between a seller and their agent, but it is not the final document that transfers ownership. A market analysis can provide valuable insights into property values and assist in pricing decisions, but it does not play a direct role in the transaction process itself. Thus, the purchase agreement is the key document necessary for successfully closing a property sale.