This is a Legally Binding Contract; If Not Understood, Seek Competent Legal Advice. Get a comprehensive understanding of Maryland real estate purchase and sale agreements with our indepth overview and free template.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. A Sales and Purchase Agreement (SPA) is a legal contract that details the agreement's terms and conditions. Purchase and Sale Agreement. A purchase and sale agreement is a contract between a buyer and seller for transacting a property in exchange for a specific price. This video provides a step-by-step guide on how to fill out Maryland's Residential Contract of Sale form. The Seller holds fee simple title to certain real property consisting of Parcels "K" and "C" of the master planned Oxford Square mixed-use development.