New Hampshire Residential Real Estate Purchase and sale contracts are contracts between a real estate seller and a potential buyer. The person who intends to purchase the property will provide the seller with the terms of their offer, including any deposits they are willing to make, how they plan to finance the purchase, and how long their offer will remain open. The real estate seller can refuse, accept or negotiate the offer until the closing date. Once both parties have signed the contract, the contract is legally binding. In order for a description of the property to accurately describe the agreement of the parties, the buyer must ask what is essential for his purchase. Four chambers are required; Is the desk above the garage necessary? Once the buyer has confirmed in his head the core of the agreement, the description should contain these essential characteristics.