What does purchase mean in Real Estate?
Purchase means to buy. It is a noun (itself) that refers to a transfer of ownership from one person to another. The person who transfers the property is called the purchaser. In Real Estate , the buyer is the person who purchases the property. In turn, the property which the buyer has purchased is referred to as the property. Difference between Purchase and Sale There is a difference between the word "purchase" and "sale". "Purchase" means a transfer of title. "Sale" means something is being sold. If you go to your house and see a new door on the front which says, "It's for sale", that door is said to be a sale. The same thing goes with Real Estate. The words "purchase" and "sale" do not always mean the same thing. The terms can be used interchangeably, and if you intend to use the words "purchase" or "sale", you should consult an attorney or other knowledgeable individual fo...