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Michigan Residential Purchase Agreement

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Updated June 16, 2025

A Michigan residential purchase agreement is a contract outlining all the terms and conditions of a residential property sale between the buyer and the seller. This includes the purchase price, closing date, financing options, property conditions, and more. The agreement only becomes legally binding once signed by both parties.

State Laws

Seller Duties – The seller is required to provide a written property disclosure to the buyer before a purchase agreement is signed. If it is not delivered prior to then, the buyer has the right to terminate the purchase agreement within 72 hours of receiving the disclosure in person or within 120 hours if delivered by mail.[1]

Seller’s Disclosures (3)

Seller’s Property Disclosure Statement (required)– The seller must provide the purchaser with a full accounting of the property’s current condition to the best of their knowledge. Furthermore, the purchaser should have the property professionally inspected.[2]

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Lead-Based Paint Disclosure (conditional) – If the residence was built prior to 1978, the seller must inform the buyer if any toxic lead paint has been used on the premises.[3]

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Lead-Based Paint Pamphlet (conditional) – Gives general information about lead-based paint for properties built before 1978.[4]

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Sample

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