What type of contract outlines the responsibilities and terms of sale for real property?

A sales contract specifically defines the terms and conditions under which real property is sold. It includes essential elements such as the purchase price, financing arrangements, contingencies, and the rights and obligations of both the buyer and the seller. This contract serves as a binding agreement that protects both parties and ensures clarity regarding what is expected throughout the transaction process.

In contrast, a lease agreement pertains to the rental of property and outlines the rights and responsibilities of landlords and tenants rather than a sale. An option to purchase gives a potential buyer the right to buy the property at a later date but does not encompass the full terms of sale. A deed of trust is used primarily in financing arrangements, where it secures a loan with real property; it does not outline the terms of sale for the property itself. Thus, the sales contract is the appropriate document for detailing the responsibilities and conditions involved in the sale of real property.