Delaware Real Estate Purchase Agreement Template

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The Delaware purchase agreement is a contract that is employed when an individual would like to sell their home to another party. It can be provided by either the seller or buyer depending on who’s proposing the offer. Typically, the buyer will put in an offer using the agreement and it is up to the seller to whether or not they accept. If accepted, the seller agrees to the price and contingencies set forth within the agreement. They may also counteroffer to request more money or to include an additional contingency. Once settled, all participants must sign the document in order to make the agreement official.

Required Disclosures

Exempt Property Certificate (§ 2577) – Certain properties are exempt from the Seller’s Disclosure of Real Property Condition Report and Radon Disclosure. If your property falls under this category, you must complete the form linked in the title.

Lead-Based Paint Disclosure (42 U.S. Code § 4852d) – If the residence being sold was built before 1978, the seller is compelled to disclose any known information regarding lead paint that may be present in the home and also provide the buyer with an informational packet related to the hazardous material.

Radon (§ 2572A) – Seller must furnish the following form pertaining to radon contamination/testing.

Seller’s Disclosure of Real Property Condition Report (§ 2573) – When a prospective buyer makes an offer on a residential property, the seller or agent representing the seller is obligated to provide a completed copy of the report linked above concerning the property’s condition. This form also covers the following state-required disclosure:

Realtor Version

Sussex County Association of RealtorsAdobe PDF