Which of the following must be included in a valid purchase agreement?

In a valid purchase agreement, it is essential that all parties involved are clearly identified and disclosed. This requirement is crucial because it ensures that each party understands who they are entering into the agreement with, which helps to establish the rights and obligations of each party. Clarity in identifying the parties involved in the transaction is vital to avoid disputes or misunderstandings later on.

The inclusion of all parties not only reinforces transparency but also protects the interests of each party by ensuring that all are aware of their involvement and responsibilities in the transaction. Valid agreements often hinge on this clarity to ensure enforceability and to meet any legal requirements that may be stipulated by state law.

While witness signatures, clauses about home inspections, and the requirement for preparation by a licensed attorney can enhance a purchase agreement or may be advisable in certain situations, they are not strictly necessary for the agreement's validity. Thus, they do not hold the same weight as the requirement for identifying all parties involved.