Delaware Real Estate Purchase Agreement

Last Updated: December 14, 2023 by Phil Ahn

Delaware Real Estate Purchase Agreement Template_1 on

The Delaware residential real estate purchase agreement (“residential purchase and sale agreement”) is a contract that outlines the price, terms, rights, and obligations of both the buyer and seller during a residential real estate transaction. Once the agreement has been signed, it may not be terminated unless both parties agree.

Do Sellers in Delaware Have to Disclose Property Defects?

Delaware does 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.   

Required Seller Disclosures in Delaware

Along with any material defects with the property, sellers in Delaware will also need to provide the following:

  • Seller’s Property Condition Disclosure Statement. In Delaware, all sellers of residential property are required to disclose material defects of the property that are known to them at the time the property is put up for sale. Delaware’s Property Condition Disclosure Form is available for sellers to detail any potential issues and conditions that may affect the value of the property.
  • 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.
  • Radon. Seller must furnish the following form pertaining to radon contamination/testing.
  • Exempt Property Certificate. Certain properties are exempt from the Seller’s Disclosure of Real Property Condition Report and Radon Disclosure. If your property falls under this category, you must complete the form linked in the title.