South Dakota Residential Purchase Agreement

Seller Duties – The seller is required to provide a completed copy of the property disclosure statement before the buyer makes a written offer. If the seller becomes aware of any change of material fact, a written amendment must be provided to the buyer.^[1]

If the seller intentionally fails to meet the disclosure requirement, they may be liable for any damages and repairs suffered by the buyer as a result of the violation.^[2]

Disclosure Exceptions – The following types of property transfers are exempt from the requirement to provide a disclosure statement:^[3]

1. Transfers pursuant to court order (e.g. probate, divorce, bankruptcy, etc.);
2. Transfers to a mortgagee by a mortgagor in default or by any foreclosure sale;
3. Transfers by a fiduciary in the administration of a decedent’s estate, guardianship, conservatorship, or trust;
4. Transfers made between family; or
5. Transfers of newly constructed residential property which has never been occupied.

Homeowner’s Association – If the residential property is under a homeowners’ association, the seller must also provide a disclosure stating that the property is governed by a homeowner’s association and any related information about assessments.^[4]

Buyer’s Rights – If the disclosure is delivered to the buyer after they make a written offer, the buyer may terminate the offer by delivering a written notice of termination to the seller within three days if the disclosure was delivered in person, or within six days if it was delivered by mail.^[5]