A Missouri residential real estate purchase agreement (“Contract for Sale and Purchase of Real Estate”) is a contract which commits a buyer to an offer to purchase real estate, according to specific terms agreed by the buyer and seller. Negotiated specifics include the purchase price, financing method, closing date, and more.
Missouri does not require real estate sellers to disclose material defects in a property. A few states, including Missouri, hold to a “caveat emptor” (“may the buyer beware”) rule, where the buyer has full responsibility to investigate and resolve any issues with the property. This means even if the buyer doesn’t perform full due diligence, they don’t have the legal option to reverse a real estate transaction. For example, if the seller says the condition of the roof is fine to the best of their knowledge, and the buyer doesn’t perform a roof inspection, the buyer won’t be able to reverse the purchase if the roof later turns out to have structural issues.
The seller still must be honest in answering the buyer’s questions. Caveat emptor does not allow a seller to fraudulently conceal issues with a property. Note also that some local areas in Missouri, like Saint Charles, do in fact require disclosure by law. Check local rules.
The following facts do not require disclosure even if asked about directly: [2]
Missouri sellers of residential real estate have very few disclosures which are required by law. These disclosures, while not required in many cases, are nonetheless common in state real estate purchase agreements:
1. In the event that any parcel of real property to be sold, exchanged or transferred is or was used as a site for methamphetamine production, the seller or transferor shall disclose in writing to the buyer or transferee the fact that methamphetamine was produced on the premises, provided that the seller or transferor had knowledge of such prior methamphetamine production. The seller or transferor shall disclose any prior knowledge of methamphetamine production, regardless of whether the persons involved in the production were convicted for such production.
2. A seller or transferor of any parcel of real property shall disclose in writing the fact that any premises to be sold or transferred either was the place of residence of a person convicted of any of the following crimes, or was the storage site or laboratory for any of the substances for which a person was convicted of any of the following crimes, provided that the seller or transferor knew or should have known of such convictions:
(1) Creation of a controlled substance in violation of section 579.110*;
(2) Possession of ephedrine with intent to manufacture methamphetamine in violation of section 195.246**;
(3) Unlawful use of drug paraphernalia with the intent to manufacture methamphetamine in violation of subsection 2 of section 579.074*;
(4) Endangering the welfare of a child by any of the means described in subdivision (4) or (5) of subsection 1 of section 568.045; or
(5) Any other crime related to methamphetamine, its salts, optical isomers and salts of its optical isomers either in chapter 195, or in any other provision of law.
1. The fact that a parcel of real property, or any building or structure thereon, may be a psychologically impacted real property, or may be in close proximity to a psychologically impacted real property shall not be a material or substantial fact that is required to be disclosed in a sale, exchange or other transfer of real estate.
2. “Psychologically impacted real property” is defined to include:
(1) Real property in which an occupant is, or was at any time, infected with human immunodeficiency virus or diagnosed with acquired immune deficiency syndrome, or with any other disease which has been determined by medical evidence to be highly unlikely to be transmitted through the occupancy of a dwelling place; or
(2) Real property which was the site of a homicide or other felony, or of a suicide.
3. No cause of action shall arise nor may any action be brought against any real estate agent or broker for the failure to disclose to a buyer or other transferee of real estate that the transferred real property was a psychologically impacted real property.
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 »
