Minnesota Residential Purchase Agreement

Agreement Date: [[Agreement Date]]

Buyer(s): [[Buyer Full Legal Name(s)]]
Seller(s): [[Seller Full Legal Name(s)]]

Property Address: [[Full Property Street Address, City, Minnesota ZIP Code]]
Legal Description: [[Full Legal Description or "See Exhibit A attached hereto and incorporated by reference"]]

Purchase Price: [[Purchase Price in Words]] Dollars ($[[Purchase Price Numeric]])

This Residential Purchase Agreement ("Agreement") is entered into by and between the Buyer and Seller named above for the purchase and sale of the residential real property described above (the "Property"). The parties agree as follows.

All user-supplied variable information is represented exclusively by `[[Token Name]]` placeholders in Title Case. Statutory requirements, standard boilerplate, and fixed Minnesota legal provisions are written in full text.

1. Purchase Price and Earnest Money

Purchase Price: $[[Purchase Price Numeric]] (the "Purchase Price").

Earnest Money: Upon execution of this Agreement, Buyer shall deposit earnest money in the amount of $[[Earnest Money Amount]] with [[Earnest Money Holder Name, e.g., Title Company or Broker]] ("Escrow Agent") within [[Earnest Money Deposit Deadline, e.g., 3 business days]] after the Effective Date.

The earnest money shall be held in a trust account and applied toward the Purchase Price at closing or otherwise disbursed according to the terms of this Agreement or written mutual instructions. If the transaction fails to close due to Seller default or failure of a contingency that permits termination, the earnest money shall be returned to Buyer. If Buyer defaults, Seller may retain the earnest money as liquidated damages (not as a penalty), subject to any statutory limits or requirements.

Earnest Money Holder Address and Contact: [[Escrow Agent Full Address, Phone, Email]]

2. Financing Contingency

This Agreement is contingent upon Buyer obtaining a firm commitment for financing on terms acceptable to Buyer within [[Financing Contingency Period, e.g., 30 days]] after the Effective Date.

Loan Type: [[Conventional / FHA / VA / USDA / Other, specify]]

Down Payment: [[Down Payment Amount or Percentage]]

Interest Rate / Terms: [[Maximum acceptable rate and term or "market terms acceptable to Buyer"]]

Lender: [[Buyer may use any lender of Buyer's choice]]

If Buyer is unable to obtain financing after good-faith efforts and provides written notice to Seller within the contingency period, this Agreement may be terminated and the earnest money returned to Buyer. If Buyer does not terminate within the period, the financing contingency is waived.

Appraisal Contingency (if applicable): [[Included / Waived]], Buyer may terminate if appraised value is less than Purchase Price by providing notice within [[Appraisal Period]] days.

3. Inspection and Due Diligence Contingency

Buyer shall have the right to conduct inspections of the Property during the [[Inspection Period, e.g., 10 / 14 / 17 days]] after the Effective Date.

Buyer may, at Buyer's expense, obtain inspections including but not limited to: general home inspection, structural, mechanical (HVAC, plumbing, electrical), roof, foundation, radon, mold, asbestos, lead-based paint, pest/termite (WDI), sewer scope, well and septic (where applicable), environmental, survey, and any other inspections Buyer deems appropriate.

Seller's Obligation to Provide Access: Seller shall provide reasonable access for inspections during normal business hours with at least 24 hours' notice (or less if mutually agreed).

Buyer's Remedies for Unsatisfactory Inspection: If Buyer is not satisfied with the results of inspections in Buyer's sole discretion, Buyer may:
- Terminate this Agreement by written notice to Seller within the Inspection Period and receive return of earnest money; or
- Deliver a written request for repairs or price adjustment; or
- Waive the contingency in writing.

If Buyer does not terminate or request remedies within the Inspection Period, the inspection contingency is waived.

Seller Disclosure Statement (per Minn. Stat. § 513.55) has been or will be provided separately. Buyer acknowledges receipt or right to receive the disclosure and the statutory three-business-day rescission right under Minn. Stat. § 513.60.

4. Title and Survey

Title Commitment: Seller shall, at Seller's expense, deliver to Buyer within [[Title Delivery Deadline, e.g., 10 days]] after the Effective Date a current commitment for an owner's policy of title insurance in the amount of the Purchase Price issued by [[Title Company Name]].

Title Objections: Buyer shall have [[Title Objection Period, e.g., 5 business days]] after receipt of the commitment to object in writing to any title defects, liens, encumbrances, or exceptions (other than standard permitted exceptions such as current taxes not yet due, easements of record that do not materially impair use, and building and zoning ordinances).

Seller shall have a reasonable time (not to exceed [[Seller Cure Period, e.g., 15 days]]) to cure objections. If Seller cannot or will not cure, Buyer may terminate and receive return of earnest money or waive the objection.

Survey: [[Buyer to obtain new survey at Buyer's expense / Seller to provide existing survey / Survey not required unless lender requires]]

Deed: At closing, Seller shall convey marketable title to the Property by warranty deed (or other deed form permitted by Minn. Stat. § 507) free and clear of all liens and encumbrances except permitted exceptions and those approved by Buyer.

5. Closing and Possession

Closing Date: [[Closing Date, on or before]]

Closing Location: At the office of the Escrow Agent / Title Company or other mutually agreed location.

Possession: Seller shall deliver possession of the Property to Buyer at closing, in broom-clean condition, with all personal property removed except items included in the sale, and all keys, codes, remotes, and access devices delivered to Buyer.

Prorations: Real property taxes, HOA dues, rents, and other items shall be prorated as of the closing date on a [[calendar year / fiscal / per diem]] basis. Security deposits (if any) shall be transferred to Buyer.

Closing Costs:
- Seller pays: [[Transfer taxes / recording fees for deed / prorated taxes to closing / title insurance premium for owner's policy / other]]
- Buyer pays: [[Lender's title policy / recording fees for mortgage / appraisal / inspection / origination fees / other]]
- Split equally: [[Escrow fees / other as agreed]]

6. Well and Septic Disclosures and Certificates (Minn. Stat. §§ 103I.235, 115.55)

If the Property is served by a private well:
- Seller shall provide a completed Well Disclosure Certificate (Minn. Stat. § 103I.235) prior to or at closing.
- Any known issues with the well or water quality are disclosed in the Seller Disclosure Statement.

If the Property is served by a private septic system:
- Seller shall provide any required septic system disclosure, compliance inspection report, or certificate as required by Minn. Stat. § 115.55 and local regulations prior to or at closing.
- Any known issues, failures, or recent maintenance are disclosed in the Seller Disclosure Statement.

Buyer may require satisfactory well and septic inspections or certifications as part of due diligence.

7. Seller's Property Disclosure and Lead-Based Paint

Seller has provided or will provide prior to Buyer signing a purchase agreement the written Seller's Property Disclosure Statement required by Minn. Stat. § 513.55, disclosing all known material facts that could adversely and significantly affect an ordinary buyer's use and enjoyment or intended use of the Property.

If the Property was built before 1978, Seller has provided or will provide the required lead-based paint disclosure and EPA pamphlet (federal law 42 U.S.C. § 4852d) prior to Buyer's execution of this Agreement or a binding contract.

Buyer acknowledges the right to rescind within three (3) business days of receiving the seller disclosure statement under Minn. Stat. § 513.60 (subject to statutory timing and exceptions).

8. Representations and Warranties of Seller

Seller represents and warrants to Buyer that, to the best of Seller's knowledge:
- Seller has good and marketable title and full authority to sell the Property.
- There are no pending or threatened legal proceedings affecting the Property except as disclosed.
- The Property is not in violation of any applicable law, ordinance, or HOA rule except as disclosed.
- All material facts known to Seller that could adversely affect use or value have been disclosed in the Seller Disclosure Statement.
- No person other than Seller has any right of possession or claim to the Property except disclosed tenants (if any) who will vacate by closing.

These representations survive closing for [[Survival Period, e.g., 1 year]] unless otherwise limited by law.

9. Representations and Warranties of Buyer

Buyer represents that Buyer has the financial ability to complete the purchase and has had the opportunity to inspect the Property and review all disclosures, reports, and documents. Buyer is purchasing the Property in its present condition, subject to the terms of this Agreement and any written addenda.

10. Default and Remedies

Buyer Default: If Buyer fails to perform Buyer's obligations and does not cure within any applicable cure period, Seller may terminate this Agreement and retain the earnest money as liquidated damages, or pursue other remedies available at law or equity, including specific performance.

Seller Default: If Seller fails to perform Seller's obligations and does not cure within any applicable cure period, Buyer may terminate and receive return of earnest money plus reimbursement of reasonable out-of-pocket inspection and financing costs, or pursue specific performance or other remedies.

Attorney Fees: In any action to enforce this Agreement, the prevailing party shall be entitled to recover reasonable attorneys' fees and costs as permitted by Minnesota law.

11. Risk of Loss; Insurance; Condemnation

Risk of loss or damage to the Property by fire or other casualty remains with Seller until closing. Seller shall maintain hazard insurance until closing in an amount not less than the Purchase Price.

If the Property is damaged before closing and the damage is not repaired by Seller, Buyer may terminate and receive return of earnest money, or proceed with closing and receive an assignment of insurance proceeds.

If all or a material part of the Property is taken by eminent domain before closing, either party may terminate, or Buyer may proceed with closing and receive the condemnation award (or credit at closing).

12. Additional Provisions and Addenda

This Agreement constitutes the entire agreement between the parties and supersedes all prior negotiations, representations, and agreements. It may be modified only in a writing signed by both parties.

The following addenda are attached and incorporated:
- [[Financing Addendum / Inspection Addendum / Lead-Based Paint / Well-Septic / HOA / Other, list or "None"]]

Personal Property Included: [[List major items included or "All fixtures and appliances currently on the Property except those excluded below"]]

Personal Property Excluded: [[List or "None"]]

Occupancy / Tenants: [[Property is vacant / Tenants to vacate by closing per separate agreement / Buyer accepts subject to existing lease(s), details]]

Assignment: Buyer may not assign this Agreement without Seller's prior written consent.

13. Governing Law and Venue

This Agreement shall be governed by and construed in accordance with the laws of the State of Minnesota. Any legal action arising out of this Agreement shall be brought in the state or federal courts located in the county where the Property is situated, or as otherwise agreed.

14. Notices

All notices under this Agreement shall be in writing and delivered by personal delivery, certified mail (return receipt), overnight courier, or electronic transmission (email with read receipt or confirmed delivery) to the addresses set forth above or to such other address as a party may designate in writing.

15. Severability; Waiver; Entire Agreement

If any provision of this Agreement is held invalid or unenforceable, the remaining provisions shall continue in full force. No waiver of any breach shall constitute a waiver of any other breach. This Agreement, including all exhibits and addenda, constitutes the entire agreement.

16. Counterparts; Electronic Signatures

This Agreement may be executed in counterparts, each of which shall be deemed an original. Electronic signatures and PDF or other electronic transmission of signed copies shall be deemed valid and binding.

17. Time of Essence

Time is of the essence with respect to all dates and deadlines in this Agreement.

18. Minnesota-Specific Disclosures and Requirements

Seller Disclosure (Minn. Stat. §§ 513.55, 513.60): Seller Disclosure Statement delivered or to be delivered before execution of binding contract. Buyer rescission right: 3 business days after receipt.

Well Disclosure (§ 103I.235): Required certificate for private wells.

Septic Disclosure (§ 115.55): Required disclosures/inspections for subsurface sewage treatment systems.

Deeds (§ 507): Warranty deed or other form conveying marketable title.

Transfer on Death Deeds: If applicable, Seller discloses any TODD and its status.

Common Interest Communities: If Property is in a CIC, additional disclosures and documents required under Minn. Stat. Chapter 515B.

Lead Paint (pre-1978): Federal and any state requirements satisfied.

Flood / Other: Any known flood, shoreland, or wetland issues disclosed in Seller Disclosure.

Local Requirements: Buyer and Seller acknowledge that cities such as Minneapolis and St. Paul may have additional disclosure or tenant-protection rules affecting the transaction; parties will comply as applicable.

19. Signatures

SELLER

Seller 1: _______________________________ Date: [[Agreement Date or Execution Date]]

Printed Name: [[Seller Full Legal Name]]

Seller 2 (if applicable): _______________________________ Date: [[Agreement Date or Execution Date]]

Printed Name: [[Seller Full Legal Name]]

BUYER

Buyer 1: _______________________________ Date: [[Agreement Date or Execution Date]]

Printed Name: [[Buyer Full Legal Name]]

Buyer 2 (if applicable): _______________________________ Date: [[Agreement Date or Execution Date]]

Printed Name: [[Buyer Full Legal Name]]

20. Broker / Agent Information (if applicable)

Listing Broker / Agent: [[Brokerage Name, Agent Name, License #, Phone, Email]]

Selling Broker / Agent: [[Brokerage Name, Agent Name, License #, Phone, Email]]

Commission: As per separate listing/selling agreements.

21. Exhibits

Exhibit A: Legal Description
Exhibit B: Seller's Property Disclosure Statement (separate)
Exhibit C: Well / Septic Disclosures and Certificates (as applicable)
Exhibit D: Lead-Based Paint Disclosure and Pamphlet (if pre-1978)
Exhibit E: Additional Addenda: [[List]]

22. Professional Advice Disclaimer and Sources

Disclaimer

This is a template form only and does not constitute legal, tax, or professional advice. Real estate transactions in Minnesota are governed by statutes, case law, and local rules. Parties should obtain independent legal counsel, title examination, professional inspections, and tax advice before signing. Requirements can change; verify against current Minnesota Statutes (revisor.mn.gov), the purchase agreement, and qualified professionals as of the date of use.

Primary Sources (as of 2026)
- Minn. Stat. §§ 513.52, 513.60 (seller disclosures)
- Minn. Stat. § 103I.235 (well disclosure)
- Minn. Stat. § 115.55 (septic systems)
- Minn. Stat. Ch. 507 (deeds and conveyances)
- Minn. Stat. Ch. 504B (landlord-tenant, as applicable to tenanted properties)
- Federal lead-based paint disclosure requirements

> ⚠️ Template only, not legal or professional advice. All `[[Token Name]]` fields must be completed accurately. Consult licensed Minnesota professionals. Buyer has statutory rights including inspection, title review, and rescission periods.