Michigan Residential Real Estate Purchase and Sale Agreement

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Updated May 20, 2022

A Michigan residential real estate purchase and sale agreement is a document created through negotiations between a buyer and a seller of a piece of property. 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 AgreementUse to purchase or sell commercial property.

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(Video) Michigan Residential Purchase Agreements – Explained