A Michigan residential real estate purchase and sale agreement is a document created by potential purchasers in order to place an offer on a piece of real estate. They will need to provide the seller with information on how they will be able to pay the proposed offer and deposit, such as financing from the bank or seller, or by selling another property. The buyer will establish a closing date by which their offer must be accepted or successfully negotiated. The contract is only legally binding once both parties have signed it.
Table of Contents
Realtor Version
Michigan Realtors – Adobe PDF
Required Disclosures
Lead-Based Paint Disclosure – If the residence being sold was built prior to 1978, the seller must inform the buyer if any toxic lead paint has been used on the premises.
Seller’s Property Disclosure Statement (§ 565.957) – Seller must provide the purchaser with a full accounting of the property’s current condition. Furthermore, the purchaser should have the property professionally inspected.
Commercial Property
Commercial Purchase Agreement – Use to purchase or sell commercial property.
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