The Oklahoma purchase agreement symbolizes the bond to exchange a residential dwelling for a predetermined monetary value. A purchase agreement is an instrument utilized to submit an offer for the receiving party. Should the terms not be up to the standard of either of the participating individuals, negotiation and amendment to the form can take place until both have come to a mutual understanding. Once both the seller and buyer are content with the contract, execution of the document can take place to finalize the agreement.

Required Disclosures

Lead-Based Paint Disclosure (42 U.S. Code § 4852d) – Domiciles constructed earlier than 1979 will necessitate a circulatory text explaining the possibility of contact with lead-based paint. The informational summary informs buyers of the health threat posed by exposure to lead-based paint or its counterparts.

Oklahoma Residential Property Condition Disclosure Statement (§ 60-831) – State legislature dictates that the seller of a residential home is mandated to reveal any flaws associated with the property by furnishing the government disclosure form. For cases where the seller has not occupied the residence or has no knowledge of the home, the state does not require the disclosure statement, and the seller can instead provide Property Condition Disclaimer Statement. The disclaimer statement essentially allows the buyer and seller to waive the use of the disclosure statement. Other circumstances of property transfer that may not call for a disclosure statement, such as transfer to a spouse or by court order, will instead need to supply a Residential Property Condition Disclosure Exemption Form.

Oklahoma Real Estate Commission Versions

Oklahoma Uniform Contract of Sale of Real Estate Residential Sale – Adobe PDF

Oklahoma Uniform Contract of Sale of Real Estate Vacant Lot/Land – Adobe PDF

Oklahoma Uniform Contract of Sale of Real Estate Farm, Ranch, and Recreational Land – Adobe PDF