The Massachusetts purchase agreement is the standard legal form for selling or purchasing a home. It documents the transaction’s stipulations including the sales price, move-in date, and items that will be included with the property. When both parties agree to its terms, they may sign the contract under the guidance of a real estate agent.
Required Disclosures
Lead-Based Paint Disclosure (42 U.S. Code § 4852d) – Documentation concerning the presence of lead-based paint/lead-based paint hazards must be given to the future owner upon entering into an agreement. (Note: This is only necessary if the property was constructed before 1978.)
Seller’s Statement of Property Condition – Technically, there is no law that claims that this disclosure form is required by the state. With that being said, there are 2 court cases that help define the proper etiquette when selling a home in Massachusetts. The first case, Swinton v. Whitinsville Savings Bank, 311 Mass. 677, establishes that as long as the seller expresses all known material defects and does not deceive or prevent the prospective buyer from performing their own inspection, they are not liable for any defects found after the purchase of the home. The case Ajalat v. Cohan, 1998 Mass. App. Div. 266 demonstrates that any misrepresentation of the property’s condition provided by the seller is considered a violation and they may be held accountable for their actions.
Title 5 Addendum (310 CMR 15.301) – Sellers must provide prospective buyers with a report confirming that the property’s septic system has been inspected within 2 years of the sale. (Refer to Title 5 in Massachusetts for more information.)
Realtor Version
Massachusetts Association of Realtors – PDF