The Mississippi residential purchase and sale agreement is used by a prospective homeowner to make an offer on a residential property. The buyer’s offer and purchase terms, as well as the financing required to make the sale, will all be relayed in the agreement provisions. Once the terms are satisfactory to the seller, they may state the amount of “earnest money” required and the deadline it must be submitted by for the buyer to secure their position.
To comply with state law, sellers must deliver a property condition statement before transferring the property title; however, if the contract is finalized before delivery of a condition statement, additional time will be granted for the buyer to terminate the purchase if they so wish.
Mississippi Contract for the Sale and Purchase of Real Estate – This form is made available by the Mississippi Association of REALTORS® for use by its members to transfer ownership of a residential property.
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To comply with federal guidelines, the seller of a residential home built before 1978 must deliver to the potential buyer a disclosure statement indicating whether the home contains lead paint, as well as a mandatory EPA safety pamphlet for hazardous material safety and protection.
This form is used to document the condition of an available property and alert the transferee of any potential defects that may affect their comfort or safety.