Which legal document represents a buyer's agreement to purchase property?

The purchase agreement is the legal document that signifies a buyer's commitment to purchase a property. It outlines the terms and conditions of the sale, including the purchase price, the property's description, contingencies, and the responsibilities of both the buyer and the seller. This document serves as a binding contract once both parties sign it, indicating their intent to enter into a transaction and providing a framework for the closing process.

In contrast, a title policy is an insurance document that protects against losses from defects in the title, not an agreement to purchase. A settlement statement details the final costs and credits associated with a real estate transaction but does not represent an agreement to buy. Meanwhile, a title examination involves researching the property's title history, including any liens or claims, which is a preparatory step in the transaction process rather than a contractual agreement. Thus, the purchase agreement is essential in establishing the buyer's intent and legal rights to the property.