The property and improvements which the Seller is agreeing to sell and which the Purchaser is agreeing to purchase is known as. A land purchase contract outlines a transaction between a seller who agrees to sell raw land to a buyer for an agreed-upon sales price.Seller shall sell and convey and Purchaser shall purchase the property, together with all buildings and improvements thereon (collectively the. GCAAR MEMBERS ONLY – Download all the contracts, disclosures, and forms you will need for a real estate transaction in Montgomery County, MD. Download our printable land purchase agreement template to complete the transaction of land with another party. Use it to make the process much simpler. I'm gonna break down all the terms and conditions so you can understand what it means and we're gonna fill that out so you can have a real-life example of it. A purchase and sale agreement is a contract between a buyer and seller for transacting a property in exchange for a specific price. Real estate forms and contracts for Washington, DC and Montgomery County, MD. Sales contracts, buyer's agreement, rental forms, leasing agreements.