S.D. Admin. R. 20:69:17:01
Agreements to perform real estate brokerage services must be on forms substantially the same as the forms prescribed by the commission. The forms must comply with the requirements imposed by SDCL 36-21A-130 and this section.
A real estate purchase agreement prepared by a licensee must contain the names of the buyer and seller; an acknowledgment that earnest money was received; the purchase price; any disclosure acknowledgments; any contingencies regarding financing, sale of purchaser's property, and inspections; and provisions for a survey, prorations, warranties, merchantable title, closing, possession, handling of earnest money, mediation, length of time for seller's acceptance, and seller's decision to accept, not accept, or counter buyer's offer.
A real estate auction purchase agreement prepared by a licensee must contain the names of the buyer and seller; the purchase price; any disclosure acknowledgments; and provisions for handling earnest money, prorations, merchantable title, closing, and possession.
A real estate commercial or agricultural purchase agreement prepared by a licensee must contain the names of the buyer and seller; an acknowledgment that earnest money was received; the purchase price; any disclosure acknowledgments; any contingencies regarding financing and inspections; and provisions for prorations, merchantable title, closing, possession, handling of earnest money, length of time for seller's acceptance, and seller's decision to accept, not accept, or counter buyer's offer.
S.D. Admin. R. 20:69:17:01
General Authority: SDCL 36-21A-130.
Law Implemented: SDCL 36-21A-130.