A Florida residential purchase agreement outlines the terms of a transaction between the seller of residential property and the buyer. Frequently asked questions about Florida For Sale By Owner service.Call 813-549-0096 today for a free consultation. Our MLS Listing Help service makes listing your property for sale or rent a breeze. A Florida purchase agreement records the terms of sale for a residential real estate transaction. Elements of a FBSO Contract: 1. Name the parties in the contract. Florida requires those selling FSBO to fill out and file many documents and forms. Several of these documents are legally binding agreements. For FSBO sellers, the most important documents are the contract for sale and purchase, property disclosure form, closing statement, and deed.