A South Dakota Real Estate Purchase Agreement is a handwritten or typed contract that lists the conditions of the real estate transaction between the seller and buyer of the property in question. To finalize the deal, the counterparts must release the former owner from any rights and responsibilities for the real estate and confirm their wish to let the purchaser manage the house, apartment, agricultural, or commercial property the way they want. At a minimum, your real estate contract must identify people and entities participating in the transaction, describe the property being sold and bought, indicate the value of the real estate, list contingencies that will allow either party to terminate the agreement, outline guarantees for the buyer or agree that the real estate is transferred in its current condition - "as is", and determine which party is going to pay for the home inspection prior to the contract signing.
You can check out the forms below to find the South Dakota Real Estate Agreement applicable in your situation.
Types of South Dakota Real Estate Purchase Agreements
- Real Estate Purchase Agreement Form - Commercial/Agricultural. If you are buying real estate for your company to use as an office or store or are planning to cultivate crops and rear animals, use this template to finalize the real property transfer;
- South Dakota Real Estate Purchase Agreement Template. This is the generic template to complete whether you are selling or buying an apartment for yourself and your family or investing in commercial real estate.
A South Dakota Real Estate Purchase Agreement is a formal document prepared and signed by South Dakota residents who sell and buy real estate for commercial or residential purposes.