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hello everybody and welcome to todays training session on the purchase contract that is the Maryland residential contract of sale today were going to go over the core contract which are the first 11 pages of this Maryland purchase agreement my name is Tim Brooks with the Brooks group and the ultimate selling team at Keller Williams Realty once again welcome and lets get started ok so lets start out by defining what exactly a purchase contract is a residential contract of sale functions is a legally binding agreement between two parties concerning the terms of purchase or transfer of real property that means that everything in this purchase agreement is going to set out the terms the price what everybody must do whos a party to this contract the buyer and the seller this spells out all of the legalities of their obligations and what they must do to to execute and finally perform on this agreement if theres ever a dispute usually each one of these sections will tell you exactly wha