The Maryland purchase agreement records the negotiated terms of a real estate transaction. The buyer or seller can use this form to make an offer containing the sale’s terms, mortgage information, and purchase price. When all participants agree to its terms, they may sign the contract’s designated sections to secure a legal bond.
Required Disclosures
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).)
Realtor Version
Maryland Association of Realtors – PDF