The South Dakota purchase agreement imparts the details connected with the sale of a home. The content of the written record confirms the buyer and seller names, residence address, purchase price, contingencies, conditions, and closing date. Notarized execution of the document solidifies the agreement and concludes the business dealing.
Required Disclosures
Lead-Based Paint Disclosure (42 U.S. Code § 4852d) – The federal government demands that homes erected before the year 1979 include additional advisement to be aware of the effects of exposure to lead-based paint. Written materials delving into the possibility of coming into contact with and potential symptoms associated with subjection must be distributed at the time of contract.
Seller’s Property Condition Disclosure Statement Form (§ 43-4-44) – The state of South Dakota mandates that the seller provide the buyer with a property disclosure statement to inform of any known problems with the domicile, title issues, or environmental complications before closing. Although the seller is required to notify of any defect with the residence, they are not compelled to hire an independent appraiser or inspector to audit the home’s condition, as this duty falls to the buyer.
Real Estate Relationships Disclosure Form – This document is necessary if a real estate professional is involved in the sale of the property. The relationship disclosure form designates the particular the role of the broker or agent for your specific transaction, appointing whether the broker represents the buyer, seller, or both parties.
Government Versions
Residential Real Estate Purchase Agreement – PDF
Commercial/Agricultural Real Estate Purchase Agreement – PDF