A Florida residential purchase agreement outlines the terms of a transaction between the seller of residential property and the buyer. THIS PURCHASE AND SALE AGREEMENT, (the "Agreement") is made and entered into this _____ day of.We're going to be reviewing and going over the as is residential contract some of the best practices builds and clauses in here. (f) All deposits will be credited to the purchase price at closing. Balance to close, subject to adjustments and prorations, to be paid via wire transfer. 23. 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. Personal Property is included in the Purchase Price, has no contributory value, and shall be left for the Buyer. 22.