Updated April 18, 2024
A North Dakota purchase agreement is a legal document between a buyer and a seller agreeing to transfer real property in exchange for a sales price. All terms of the sale are included in the agreement such as the contingencies, inspection period, due diligence, and when the closing must occur. The agreement becomes legally binding after the buyer and seller have signed and acceptance has been communicated to the buyer.
Prior to acceptance, the seller must complete and hand over a Property Disclosure Statement that gives necessary information about the real estate.
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Disclosures (2)
Lead-Based Paint Disclosure – 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.
Download: PDF
Seller’s Property Disclosure Statement (§ 47-10-02.1) – A disclosure statement must be provided by the seller to the buyer before an agreement is authorized. In most cases, when a seller places the property for sale this disclosure should be completed and handed out to prospective buyers before the time of an offer.
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Commercial Property
Commercial Purchase Agreement – Use this document between a purchaser and seller to buy commercial property.
Download: PDF, MS Word, OpenDocument