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[Music] a maryland residential purchase agreement is a crucial document when buying a home legally binding once signed by the buyer and seller the contract outlines all of the agreed-upon terms and conditions of the transaction such as the purchase price closing dates and the rights and obligations of both parties in this video well cover how a residential purchase agreement works the legal requirements in maryland and what you will need to create one reforms the biggest online database for legal documents stick around and well tell you where you can find an official residential purchase agreement specific to maryland first lets review how does a residential purchase agreement exactly work a residential purchase agreement initially acts as an offer letter from a prospective buyer to the seller of a home it states how much the buyer is willing to pay how they will finance it the closing date and any contingencies that must be satisfied by either party for the contract to remain in g