Below is a sample real estate purchase and sale agreement. A Minnesota purchase agreement records the negotiated terms of a real estate transaction.This agreement is contingent upon Purchaser obtaining approval of a. Conventional,. A purchase and sale agreement is a contract between a buyer and seller for transacting a property in exchange for a specific price. Property cannot be located in a 100 year flood plain. Signed purchase agreement required at time of application. How to fill out the Minnesota Standard Residential Purchase Agreement? 1. Enter the date of the agreement. 2. BUYER agrees to purchase and SELLER agrees to sell the real property, and the improvements thereon, commonly known as: , in the County of.