The South Dakota property disclosure statement is a document that a property seller is completes to provide prospective buyers with an inventory of the property and its condition. In the form, the seller will need to disclose the property’s lot and title information, structural damage and defects, systems and utilities, health hazards, and other information that may affect the buyer’s decision. State law mandates that sellers of residential property complete a property disclosure and give it to buyers before signing a purchase agreement.
Laws – § 43-4-3
Purchase Agreement – Outlines the terms of a buyer’s offer to purchase residential property from its owner. If the owner accepts the offer, both parties will need to sign the document to make the agreement legally binding.