Maryland Residential Real Estate Purchase and Sale Agreement
A residential real estate purchase agreement in Maryland is a legal document that binds a buyer and seller in the transfer of a property. It contains the specific terms of the contract and sets a deadline for the offer to expire. The purchaser needs to provide details of how they will finance the purchase, including bank loans and the sale of other properties. The seller must disclose any material defects in the Property Disclosure Statement before signing the agreement.
Lead-Based Paint Disclosure – If the residence was built before 1978, the landlord must inform the tenant of the potential for dangerous lead within the walls and ceiling.