A newhome sales contract has basically the same requirements as a resale contract. The contract deals with General Repair Items, WDO or Wood Destroying Organisms and Costs Associated with Open or Expired Permits.A Florida residential purchase agreement outlines the terms of a transaction between the seller of residential property and the buyer. The building or residence must be for my own use or occupancy. The Seller agrees to sell, and the Purchaser agrees to purchase, the Property, in accordance with the following terms and provisions.