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A Michigan Purchase and Sale Agreement is a blank document that outlines the terms for buying or selling property in Michigan. It includes key details like the price, property description, and important conditions (such as inspections or financing).
When does a purchase agreement become legally binding?
The purchase and sale agreement becomes legally binding when both parties sign the contract and the buyer gets the notice that the seller has accepted the deal. The buyer can get the notice in-person, by phone, and/or email.