Which term refers to the legal document that outlines the agreement between buyer and seller?

The term that refers to the legal document outlining the agreement between buyer and seller is "Contract." A contract is a formal agreement between two parties that specifies the terms and conditions of their transaction. In the context of real estate, a contract details the obligations and rights of both the buyer and the seller, including the purchase price, property description, and any contingencies.

Other terms provided do not serve this specific purpose. An application typically refers to a request for something, such as a loan or a lease, rather than the actual agreement. A disclosure is a document that reveals specific information, like known defects in a property or other relevant facts, but it does not encapsulate the complete terms of the deal between the buyer and seller. An affidavit is a written statement confirmed by oath or affirmation, which may be used in legal proceedings but is not a contract itself. Thus, "Contract" is the appropriate term for the legal document that governs the agreement between buyer and seller in real estate transactions.