Louisiana Real Estate Purchase Agreement

Last Updated: August 30, 2024 by Roberto Valenzuela

A Louisiana 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.

Do Sellers in Louisiana Have To Disclose Property Defects?

Louisiana does require real estate sellers to disclose any material defects with the property. In most cases, this is through a standardized disclosure form provided by the state Real Estate Commission.

By mutual agreement, it often may be possible to waive the use of a standard form and handle required disclosures another way. However, the seller always has a duty to disclose all material defects that are not obvious on a standard inspection of the property, even if the buyer agrees to take the property “as-is.”

The basic duty to disclose cannot be waived under any circumstances, unless the sale falls under a recognized legal exemption. Louisiana exempts the following common cases, among others, from the disclosure form requirement before transfer of residential real estate:

  • Court-ordered sales and transfers
  • Sales by foreclosure or other debt default
  • Transfer as part of the execution of a will or estate
  • Transfer to a purchaser who will not use the property for residential purposes
  • Transfer to a spouse, parent, or child
  • Transfers to or from a government entity
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The seller still must be honest in answering the buyer’s questions. A disclosure exemption does not allow a seller to fraudulently conceal issues with a property.

Required Seller Disclosures in Louisiana

Louisiana sellers of residential real estate must make the following disclosures, as appropriate, in order for a real estate purchase agreement to be considered legally binding:

  • Property Disclosure Document: Discloses material defects with a property that are known to the seller at the time of sale, and details any potential issues and conditions that may affect the value of the property.
  • Lead-Based Paint Disclosure: Any home constructed earlier than 1978 must come with a disclosure upon the transfer of the property which includes any information about the presence of lead on the premises, as well as educational materials that communicate the health risks associated with lead exposure.

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