The Maryland purchase agreement records the negotiated terms of a real estate transaction. Either the buyer or seller will present the other party with an offer using this contract that contains the conditions on the sale’s execution, mortgage information, and of course, the amount of the purchase price. Once all the details have been settled and agreed upon, participants may sign within the designated sections to secure a legal bond.
Lead-Based Paint Disclosure (42 U.S. Code § 4852d) – Prospective buyers must be presented with paperwork related to lead-based paint and any potential hazards it may cause if the property was produced before 1978.
Residential Property Disclosure and Disclaimer Statement (§ 10-702) – The state dictates the seller’s obligation to prepare and deliver a disclosure form to the purchaser that registers any know latent defects that may be existing within the home for sale. This document also has the dual function as a disclaimer, which essentially states that the property is being sold “as is”. (Also available in Microsoft Word (.docx).)
Maryland Association of Realtors – Adobe PDF