The Missouri purchase agreement is a noteworthy document used to legally transfer ownership of residential property. In order to achieve this, the buyer and seller must first arrange how the transaction will unfold by stipulating certain aspects of the exchange within the contract. Such aspects will involve the selling/buying price, items that will be included with the property, closing date, and any prerequisites either party would like to integrate into the agreement. After all the data has been transcribed to the legal instrument, the individuals taking part in the sale may certify the contract by supplying their personal signatures.
Lead-Based Paint Disclosure (42 U.S. Code § 4852d) – Apart from the state-mandated disclosures, the U.S. federal government stipulates that the seller of a dwelling that was constructed previously to 1978 must supply homebuyers with materials concerning lead-based paint and any of its potential hazards.
Seller’s Disclosure Statement for Residential Property (Form DSC-8000) (§ 339.730(3)) – There is no statute that compels the seller of a residence to provide this disclosure statement. On the other hand, the seller’s agent is required to disclose any known adverse material facts and most prospective buyers will demand that this form be executed before signing a sales contract. Other than reporting these material facts and the general condition of the dwelling, the following required disclosures are also included within the content of the form:
- Condominium/Co-Op/Shared Cost Development (§ 448.4-109) – Although this is incorporated within the abovementioned disclosure statement, the Missouri Realtors also offer a separate disclosure rider (Form DSC-8000C) that is a little more in-depth.
- Methamphetamine Production (§ 442.606) – The seller must indicate whether on not the production of methamphetamine ever occurred on the premises. If yes, they will be required to fill out Form DSC-5000 (available through the Missouri Realtors).
Waste Disposal Site or Demolition Landfill (Form DSC-6000) (§ 260.213) – This document must be executed and delivered to the purchaser if the real estate being sold was ever used as a site for solid waste disposal or demolition landfill.
Missouri Realtors – Adobe PDF