This is a legally binding Real Estate Purchase Contract ("REPC"). Utah law requires real estate licensees to use this form.A For Sale By Owner contract Utah must include: 1. The Purchase Price, 2. A Utah real estate contract is a legally binding agreement that is created when a buyer makes an offer on real estate that is for sale. A master purchase agreement is a legally binding contract between buyer and seller, and typically relates to buying and selling goods rather than services. The buyer agency agreement also called the buyer broker agreement. I find that buyers are sometimes hesitant to enter into a buyer agency agreement. The process for completing a boat or vessel transaction in the state of Utah is slightly more complicated than for other types of vehicles. A master purchase agreement is a legally binding contract between buyer and seller, and typically relates to buying and selling goods rather than services.