Michigan Residential Purchase Agreement

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.

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Updated May 30, 2024

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Required Disclosures (2)

Lead-Based Paint Disclosure – 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.

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Seller’s Property Disclosure Statement – The seller must provide the purchaser with a full accounting of the property’s current condition. Furthermore, the purchaser should have the property professionally inspected.^[1]