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 For Sale By Owner contract Maryland must include: 1. The Purchase Price, 2. A purchase and sale agreement is a contract between a buyer and seller for transacting a property in exchange for a specific price. Get a comprehensive understanding of Maryland real estate purchase and sale agreements with our indepth overview and free template. A purchase agreement is a legal contract between a buyer and a seller. This file contains the Maryland Residential Contract of Sale, essential for buying or selling improved single-family residential real estate in Maryland.