The maine sales contract records the details of a sale specific to residential real estate. This form is usually used to submit the first offer to the seller. The buyer will include his offer, the amount of serious money deposit and the desired contingencies. The seller will then check the proposal and determine whether or not they agree with the terms provided. If they do not accept it, the adjustments to which they feel entitled may oppose offers. As soon as one of the parties accepts the terms of the other party`s offer, it can sign the document in order to obtain a binding agreement. Maine Residential purchase and sale contracts are contracts that facilitate the sale of property from a seller to a buyer. Once the agreement is signed, it cannot be terminated unless both parties agree.