Missouri Real Estate Purchase Agreement

The Missouri residential real estate purchase agreement (“contract for the sale of real estate”) is used to present a buyer’s offer to purchase residential property from a seller. The written agreement includes a description of how the buyer will pay for the property and when the offer will expire. During this period, the seller may present a counteroffer and the purchaser may have the property professionally inspected. Once the agreement has been signed by both parties, it becomes legally binding.

Do Sellers in Missouri Have to Disclose Property Defects?

Missouri does not require real estate sellers to disclose any material defects. Certain states do not require the seller to disclose all defects (caveat emptor), meaning the buyer assumes the responsibility to conduct a real property inspection to seek out any potential defects with the property. In those states, if a buyer fails to conduct a proper examination, they may not have a legal alternative to reverse the real estate transaction.

While landlords in Missouri are not required to disclose material defects, if the seller actively concealed latent defects or otherwise made material misrepresentations amounting to fraud, then they may be liable for damages or reversal of the real estate transaction.

Required Seller Disclosures in Missouri

• Seller’s Disclosure Statement for Residential Property. There is no statute that compels the seller of a residence to provide this disclosure statement. On the other hand, the seller’s agent is required to disclose any known adverse material facts and most prospective buyers will demand that this form be executed before signing a sales contract. Other than reporting these material facts and the general condition of the dwelling, the following required disclosures are also included within the content of the form.
• Lead-Based Paint Disclosure. Any home that was constructed earlier than 1978 must come with a disclosure upon the transfer of the property that includes any data concerning the presence of lead on the premises as well as educational materials that communicate the risks involved with coming into contact with the harmful substance.
• Methamphetamine Disclosure. If the property was previously used for the production of methamphetamines the seller is required to disclose it. The disclosure is only required when the seller has knowledge of meth production on the property. Sellers are not required to search for police records.
• Waste Disposal Site or Demolition Landfill. This document must be executed and delivered to the purchaser if the real estate being sold was ever used as a site for solid waste disposal or demolition landfill.
• Show Me State Disclosure. If the seller is required to disclose whether the property was the site of the endangerment of a child through physical injury.

Frequently Asked Questions

How Do You Write a Real Estate Contract in Missouri? To write a real estate contract in Missouri, you will need to identify and document the terms and conditions of the sale. The contract should also include the names of each party and the legal property address. You can download a customizable template or write your own. Read more » How Can You Get Out of a Real Estate Contract in Missouri? You can get out of a real estate contract in Missouri during several stages of the buying process. First, the offer must be accepted to make it binding. If the seller rejects the offer, the buyer can make a counter-offer or leave the deal. Read more » What Is the Effective Date of a Real Estate Contract in Missouri? In Missouri, the effective date of a real estate contract is the date the buyer and seller agree to the terms of the contract and have it executed. All contract obligations are binding and enforceable on the effective date. Read more » Can a Seller Cancel a Real Estate Contract in Missouri? In Missouri, a seller can get out of a real estate contract if the buyer’s contingencies are not met—these include financial, appraisal, inspection, insurance, or home sale contingencies agreed to in the contract. Sellers might have additional exit opportunities with unique situations also such as an estate sale. Read more » How Do I Fill Out a Real Estate Contract in Missouri? To fill out a real estate contract in Missouri, first, download our customizable Missouri real estate contract template. Filling out the template is fairly straightforward, complete the information for each party, including the names, party type, and address along with the terms and conditions of the deal. Read more »