A written document detailing the terms of an agreement to purchase property is known as a ________.

A written document detailing the terms of an agreement to purchase property is properly referred to as a real estate purchase agreement. This document typically outlines the specific terms of the sale, including the purchase price, property description, financing arrangements, and any contingencies that must be met before the sale can be finalized. It serves as a formal contract between the buyer and seller, ensuring that both parties understand their rights and obligations regarding the transfer of ownership.

The term "real estate purchase agreement" is widely recognized and used in real estate transactions to denote an agreement that solidifies the intent of the parties involved to engage in a real estate transaction, providing legal enforceability of the terms agreed upon.

Other options do not accurately describe this type of agreement. A bill of sale typically refers to a document used for the sale of personal property rather than real estate. A contract for deed, also known as a land contract, involves a seller financing the purchase directly to the buyer, which is different from the straightforward agreement to purchase. Lastly, a lease option agreement provides the tenant with the choice to purchase the property at a later date but is not used to document the immediate terms of a purchase. Therefore, the designation as a real estate purchase agreement is the most fitting and accurate term