Iowa Residential Purchase and Sale Agreement

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An Iowa residential purchase and sale agreement is a legal document through which two parties (seller and buyer) agree upon terms and conditions regarding the sale of a residential property. Once a buyer is interested in a property, they will contact the seller with an offer. The seller may accept this offer or present a counter-offer. If a price is settled upon, they will proceed to the next step of the process; negotiating the terms of the agreement (financing, inspections, property condition, etc.). Iowa, like most states, requires that sellers furnish the buyer with a disclosure form to inform them of any material defects, zoning issues, environmental hazards, and other information that may be useful. This disclosure form must be sent to the buyer BEFORE a purchase and sale agreement is conceived.

Table of Contents

Other Versions (2)


Southwest Iowa Assoc. of Realtors Version

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FSBO Version

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Required Disclosures

Seller Property Condition Disclosure (§ 558A.4) – Sellers of residential property are required by law to complete this disclosure form and send it to any potential buyers (either by personal delivery or by certified/registered mail). This form covers structural/material damage of the dwelling, environmental and zoning information surrounding the property, and any other information that would be relevant to a person wishing to purchase the property.

Radon Disclosure Fact Sheet – Not required, but there is a section on the Seller Property Condition Disclosure that refers to radon. This is a matter to take seriously in Iowa and is advised all new purchasers have the necessary tests performed to alleviate this threat.

Lead-Based Paint Disclosure – Individuals selling property built before 1978 must disclose the possibility of lead paint to prospective buyers. The Seller Property Condition Disclosure form has a section for this specific disclosure; alternatively, follow the link above for a separate lead-based paint disclosure form.

Commercial Property

Commercial Purchase AgreementUse as a legal contract to buy or sell commercial property.

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