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North Dakota Residential Purchase Agreement

A North Dakota residential purchase agreement is a legal document between a buyer and a seller of real property. All terms of the sale are included in the agreement, such as the inspection period, due diligence, and closing date. The agreement becomes legally binding once signed by both parties.
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State Laws

Seller Duties – The seller is required to provide a written disclosure statement to the buyer prior to executing a purchase agreement if a real estate agent represents either party in the transaction and if the property is for a dwelling of four units or fewer.[1]

Disclosure Exceptions – This requirement does not apply if the property transfer is:[2]

  1. Pursuant to a court order;
  2. Between government agencies;
  3. By a mortgagor in default to a mortgagee;
  4. Pursuant to a foreclosure sale;
  5. By a mortgagee or a beneficiary of a deed of trust who acquired the real property
    by a foreclosure, a deed in lieu of foreclosure; or a collateral assignment of beneficial interest;
  6. By a fiduciary administering a decedent’s estate, guardianship, conservatorship,
    or trust;
  7. Between co-owners of the real property;
  8. To a spouse, child, parent, sibling, grandchild, or grandparent; or
  9. If the real property is newly constructed residential real property with no previous
    occupancy

Seller’s Disclosures (3)

Seller’s Property Disclosure Statement (conditional) – A disclosure statement must be provided by the seller to the buyer before an agreement is authorized.

Download: PDF

Lead-Based Paint Disclosure (conditional) – Federal law requires that an individual who is purchasing a residence constructed before the year 1978 must be given a statement that details the use of any lead-based paint on the property.[3]

Download: PDF

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

Download: PDF

Sample

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