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North Dakota Residential Purchase and Sale Agreement

The North Dakota residential purchase and sale agreement allows a prospective homeowner to make an offer on a seller’s residential property. This document may be used to negotiate the conditions of a real estate transaction, including the purchase price, inspection date, personal property included in the sale, and any other terms and conditions both parties require. Once both the buyer and the seller agree to the terms, they may sign the document and proceed with the transfer of ownership. It should be noted that as of August 1st, 2021, North Dakota law states that a written property disclosure stating any facts about the property that may adversely affect the seller’s decision to purchase must be provided to prospective homeowners before the sale is completed.

Contents

Required Disclosures (2)

Lead-Based Paint

If the property was built before 1978, the seller is obligated to inform any buyers of the presence of toxic paint, and the real estate agent is required to provide an EPA-approved pamphlet to the buyer.

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Property Disclosure Statement (§ 47-10-02.1) – Unless exempt (as per § 47-10-02.1(7)), a written disclosure statement must be provided to the buyer detailing the condition of the property as well as any defects, structural systems, and environmental issues. Common exemptions include the transfer of property between a spouse or child, between co-owners, or if the property is newly constructed with no previous owners.

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