A purchase and sales agreement relating to a business or company usually deals with selling said entity. Whether on the buying or selling end, knowing what to expect from these agreements is important.

 A purchase and sales agreement is the negotiation preceding the sale closing. At this point in the process:

• A buyer has made an offer to purchase a business
• An investigation on both sides has confirmed both parties capable of going through with the transaction
• The details such as price, payment structure, and more need to be finalized

Drafting a purchase and sales agreement is where an experienced attorney comes in. They can help make sure it covers every detail. There is a general set of requirements for purchase and sales agreements, but the agreement will be tailored to the specific sale.

The contents of such an agreement can be extensive and detailed, making it necessary for an attorney to at the very least look the agreement over and edit it. Otherwise, an attorney on either side should write the first draft, and the opposing attorney will look it over, making necessary adjustments. The buyer and seller could also split the cost of an attorney, working together with a single attorney.