The Michigan purchase agreement documents the terms & conditions applicable to the sale of residential property. Normally, the individual interested in purchasing the residence will submit an offer to the seller using this very form. The seller may then review the terms of the contract and decide whether or not they would like to accept the agreement, decline, or counteroffer with an alternate proposal. Some of the factors of the sale that will need to be negotiated include the price of the dwelling, personal property that will be included in the sale, and date in which the buyer can take possession of the home. Once every aspect of the transaction has been settled, the involved parties may supply the form with signatures to confirm a legal obligation.
Lead-Based Paint Disclosure (42 U.S. Code § 4852d) – If the property for sale was built prior to 1978, home sellers are obligated to provide prospective buyers with information regarding the status of lead paint contained within the premises.
Seller’s Property Disclosure Statement (§ 565.954, § 565.957) – In order to properly correspond with Michigan’s Seller Disclosure Act, individuals who are selling their homes must first carry out a written disclosure statement that outlines the property’s current condition. (Exceptions to this requirement can be found in § 565.953.)
Michigan Realtors – Adobe PDF