Massachusetts Residential Real Estate Purchase and Sale Agreement

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A Massachusetts residential real estate purchase and sale agreements are contracts that are drafted to legally formalize the sale of a residential property. Within the document, the potential buyer will present their offer and terms for the purchase of the property. The buyer will set a date by which their offer will close, at which time, the seller may present a counteroffer. Furthermore, the buyer may request to have the property inspected by a third party. Once both parties have reached an agreement, they will sign the form to finalize the agreement.

Table of Contents

Buyer Beware

Massachusetts is a buyer beware or “caveat emptor” state, which means that the buyer assumes responsibility for any undisclosed property damages or defects. Furthermore, the seller is not obliged to disclose details about the general condition of the residence. However, the seller is required to have their septic system tested before selling and must inform the buyer about the presence of lead-based paint if the property was built before 1978. (§ 15.301, § 197A)

Realtor Version

Massachusetts Association of Realtors – Adobe PDF

Required Disclosures

Lead-Based Paint Disclosure – If a residence that was built prior to 1978 is put up for sale, federal law mandates that the seller must disclose the use of lead-based paint on the property.

Seller’s Property Disclosure Statement – Although it is not required by State law, the property seller may elect to provide the purchaser with an accounting of the property’s condition at the time of sale.

Title 5 Addendum – If there is a septic tank on the premises.

Commercial Property

Commercial Purchase AgreementUse to purchase or sell any type of commercial property.

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