The contract that outlines the terms and conditions for the sale of a property is called

The correct choice identifies the document that specifically details the terms and conditions governing the sale of a property: the purchase agreement. This contract serves as a legally binding document between the buyer and seller, establishing essential components such as the purchase price, closing date, contingencies, and responsibilities of both parties. Its primary purpose is to formalize the intent of the buyer to purchase and the seller to convey ownership of the property, ensuring that all necessary details are clearly laid out to prevent misunderstandings or disputes.

Other options do not fulfill this role. A lease agreement pertains to the renting of property rather than the sale. An option to purchase provides a potential buyer with the right, but not the obligation, to purchase property at a later date under specific terms, which distinguishes it from a purchase agreement. Lastly, a listing agreement is a contract between a property owner and a real estate broker that establishes the broker's authority to represent the owner in selling the property but does not solidify the terms of the sale itself. Thus, the purchase agreement is the essential contract for the actual sale of a property.