Delaware Residential Purchase and Sale Agreement

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A Delaware residential purchase and sale agreement is a legal contract for the sale of a property. An arrangement is made between the seller of the property and the potential buyer, and the terms and conditions of this arrangement are detailed in the contract. Once both parties are satisfied with the terms of the agreement, i.e., purchasing price, financing options, closing details, property condition, they will inscribe their signatures and the contract will become interminable without the consent of both parties. Before the parties are bound by the agreement, the seller must complete a state-mandated disclosure form and provide it to the potential buyer.

Table of Contents

Realtor Version

Delaware Assoc. of RealtorsAdobe PDF

Required Disclosures

Lead-Based Paint Disclosure – In accordance with federal law, anyone selling property built prior to 1978 must provide potential buyers with this disclosure form.

Seller’s Disclosure of Real Property Condition Report (§ 2577) – The State of Delaware requires all sellers of residential property to disclose material defects of the property that are known to them at the time the property is put up for sale. The Delaware Seller’s Disclosure Form covers all potential issues and conditions that may affect the value of the property. Those selling property that has been recently constructed should use the New Construction version of the disclosure form.

Commercial Property

Commercial Purchase AgreementUse as a legal contract between a buyer and a seller for commercial property transactions.

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