real estate contract
a real estate contract is a contract between parties for the purchase and sale, exchange, or other conveyance of real estate. both copies of the contract of sale become binding only after each party is in possession of a copy of the contract signed by the other party—i.e., the exchange is said to be "complete". to be enforceable, a real estate contract must possess original signatures by the parties and any alterations to the contract must be initialed by all the parties involved. in a real estate contract, the type of deed to be used to convey the real estate may be specified, such as a warranty deed or a quitclaim deed.