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Maryland Residential Real Estate Purchase and Sale Agreement

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Maryland Residential Real Estate Purchase and Sale Agreement

Updated September 20, 2023

A Maryland residential real estate purchase and sale agreement is a contract that binds a buyer and seller for the sale and transfer of real estate. It outlines the specific terms of the agreement and set a deadline on which the offer expires. On the form, the purchaser will need to provide information on how they will be able to finance the purchase of the property, including any bank loans and the sale of other property if applicable.

The seller is required to describe any material defects in the Property Disclosure Statement before the purchase agreement is executed.

Table of Contents

Realtor Version

Maryland Assoc. of Realtors Purchase Agreement

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Disclosures (2)

Lead-Based Paint Disclosure – In accordance with federal law, if a residential property was built before 1978, purchasers must be given information about the application of lead-based paint on the property.

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Residential Property Disclosure and Disclaimer Statement (§ 10-702) – State law requires that the seller of a residential property disclose the property’s condition and defects (if any) to the purchaser. The seller must provide the disclosure form before the purchaser has executed the purchase agreement.

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Commercial Property

Commercial Purchase AgreementUse as a formal agreement to purchase or sell commercial property.

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