Oklahoma Residential Purchase and Sale Agreement

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An Oklahoma residential purchase and sale agreement allows two (2) parties to establish an arrangement for the sale of real property. The agreement describes the parties involved in the transaction (the “buyer” and “seller”) and outlines the conditions associated with the sale. Using the agreement, the parties may decide on a sale price, closing date, downpayment amount, financing procedures, and personal items to remain on the premises after the property is sold. Oklahoma statute § 60-833 mentions that, before an agreement is signed, the owner must provide the buyer with a Property Condition Disclosure reporting any known defects to the dwelling. However, under certain circumstances, the parties may agree to waive the need for a condition report and instead complete a Property Condition Disclaimer.

Table of Contents

Realtor Version

Oklahoma Real Estate CommissionAdobe PDF

Required Disclosures

Lead-Based Paint Disclosure – Provides buyers with information about whether or not a home contains lead-paint (legally required for the sale of any property built before 1978).

Property Disclosure and Disclaimer Statements (§ 60-833) – Before a purchase agreement is signed, the seller must deliver to the buyer one (1) of the following documents: (choose one)

Commercial Property

Commercial Purchase AgreementUse this document as a legal contract to buy or sell any type of commercial property.

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