The Idaho purchase agreement is a prominent legal document that is exercised when two parties (seller & purchaser) take part in the exchange of property for an agreed-upon sum of money. Generally, the buyer will submit an offer using the agreement and it is up to the seller to accept or renegotiate the terms with a counteroffer. This contract is a long-form document that requires participants to include all the necessary information that is unique to the sale, such as the description of the property, amount of the initial deposit, finance terms, and any additional conditions either party would like to include. Once all the vital information has been inserted into the form, both sides of the transaction must provide their signatures in order to accomplish a binding contract.
Seller’s Property Condition Disclosure (Form RE-25) (§ 55-2504) – Idaho legislation stipulates that any individual looking to sell their home must first complete a disclosure form registering all the essential facts corresponding to the residence, which must then be distributed to the prospective purchaser before executing the sales contract. (Exemptions to this disclosure can be found in § 55-2504 of Idaho’s law.)
Lead-Based Paint Disclosure (42 U.S. Code § 4852d) – If the dwelling being sold was built before 1978, the seller will be liable to present the future owner with any documentation concerning lead paint hazards that may be contained within the confines of the property, as well as an informative handout detailing the dangers associated with the chemical matter.
Idaho Realtors – Adobe PDF