South Dakota Residential Purchase and Sale Agreement

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A South Dakota residential purchase and sale agreement is a contract between two (2) parties in which one (1) party agrees to purchase the other’s real estate. The document will be used to indicate the buyer’s offer and, upon the seller’s acceptance of the proposal, will act as a legally binding agreement between the two (2) parties. Before a written offer can be made, the seller must deliver to the buyer a condition report mentioning any material issues with the property. If the seller fails to deliver the report before receiving a written offer, the buyer may terminate their offer by notifying the seller or their agent within three (3) days after they personally receive the report, or six (6) days after the report is deposited in the mail.

Table of Contents

Realtor Version

Real Estate Commission Purchase Agreement Adobe PDF, Microsoft Word (.doc)

Required Disclosures

Lead-Based Paint Disclosure – Required when selling any property built before 1978. Sellers must use this disclosure to inform buyers of the existence of lead-based paint used on the property.

Seller’s Property Condition Disclosure Statement (§ 43-4-38) – Details the material condition of the property. Sellers are required to give this disclosure to buyers before receiving a written offer.

Real Estate Relationships Disclosure – Used to establish a relationship between a buyer/seller and a licensed real estate agency.

Commercial Property

Commercial Purchase AgreementUse this document as a formal agreement between a buyer and seller for commercial property transactions.

Download: Adobe PDF, MS Word, OpenDocument