A Pennsylvania residential purchase agreement establishes a legal arrangement between a buyer and a seller in a real estate transaction. The Standard Agreement for the Sale of Real Estate should be used in transactions to outline the terms of the agreement between the buyer and seller.1. Enter buyer and seller details. All components of the Property, except the Personalty and. A memorandum of purchase and sale agreement is a legal document that protects a buyer from being outbid after the seller accepts their offer. The document is an agreement for sale between Ms. Sowmya Lakshmi (Vendor) and Mr. A.C. Hari Prasad (Purchaser). Sellers and Buyer agree as follows: 1. Parties.