This is a Legally Binding Contract; If Not Understood, Seek Competent Legal Advice. A Maryland residential purchase agreement is a contract that binds a buyer and a seller for the sale and transfer of real estate.A Maryland purchase agreement records the negotiated terms of a real estate transaction. The buyer or seller can use this form to make an offer. Get a comprehensive understanding of Maryland real estate purchase and sale agreements with our indepth overview and free template. Download a Maryland residential purchase agreement template to define buyer and seller obligations, financing, and inspections.