Montana Residential Real Estate Purchase and Sale Agreement

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Updated April 24, 2022

A Montana residential real estate purchase and sale agreement is a document used to present an offer for a piece of real estate and is executed by two (2) parties: a buyer and a seller. Once filled out, the form will describe all of the terms of the offer, such as the amount offered, the buyer’s financing methods, and the date on which it will expire if it is not accepted. The seller has the right to refuse and negotiate an offer up until the point it expires. The written agreement becomes legally binding as soon as both parties have signed it.

Table of Contents

Buyer Beware

Montana is a “buyer beware” state, which means that the buyer assumes total responsibility for a property once they have purchased it. However, when the property is being sold by an agent, the agent is required to disclose any “adverse facts” to the buyer. (§ 37-51-313)

Required Disclosures

Lead-Based Paint Disclosure – All states require that owners of property constructed before 1978 must provide buyers with a statement describing the presence of lead-based paint (or lack thereof).

Mold (§ 70-16-703) – This statement must be included in every purchase and sale agreement to inform the buyer about the possible presence of mold on the property.

Seller’s Property Disclosure Statement – Although it is not required, the seller of a piece of real estate may provide the buyer with a statement that describes the condition of the property.

Commercial Property

Commercial Purchase AgreementUse this agreement between a purchaser and seller to buy commercial property.

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(Video) Montana Residential Purchase Agreements Explained