Missouri Residential Sale Contract Explained

What this document actually is

The Missouri Residential Sale Contract (form RES-2000, published by Missouri REALTORS®) is the contract that turns an accepted offer into a binding deal to buy or sell a home in Missouri. It spells out who is buying, what they're buying, for how much, when it closes, and what either side can do if something goes wrong along the way.

It is long because it has to cover a lot — financing, inspections, title, what happens if the house is damaged before closing, who pays which closing costs, and how the deal can be terminated. The good news: once you know how it's organized, it's much easier to read. Each section below maps to a numbered section in the contract. When you see "§3" or "Section 3," open your contract to that number and read along.

The basics — who, what, where, when, how much

§1. Property

Identifies the home being sold by street address, city, ZIP, county, and (if attached) legal description. If no legal description is attached, the description on the seller's current deed controls. What's included: the land, anything attached to it (fixtures), and the rights and easements that go with it. Section 4 spells out the standard inclusions and exclusions in more detail.

§2. Purchase price and earnest money

Three numbers live here:

• Purchase Price — what the buyer agrees to pay.
• Seller Concessions — an amount the seller agrees to credit toward the buyer's closing costs (if any). If left blank, it's $0.
• Earnest Money — a good-faith deposit from the buyer, held by an Escrow Agent and credited toward the purchase price at closing.

Earnest money is due within a stated number of days after the Effective Date (5 days if left blank). If the buyer doesn't deliver it on time, the seller can terminate the contract by giving notice — but only before the money arrives.

§3. Closing

Closing is when the deal is finalized: the deed is exchanged for the funds. This section locks in where closing happens (the Title Company is the default location unless another is specified), the Closing Date, and that the buyer gets possession, keys, and all access codes/passwords for electronic systems at closing — unless a rider says otherwise.

The seller also has to disconnect their phones, tablets, and computers from any smart-home systems before handing over possession. Buyers are encouraged to change locks and reset codes after closing for security.

§4. What stays and what goes

This is the "included/excluded" list. The contract — not the MLS listing or the seller's disclosure — controls what conveys. Standard inclusions cover the obvious built-in things plus some less obvious ones:

• Garage door openers, keys, remotes, exterior lighting, landscaping, mailbox, fences (including hardwired pet systems).
• Attached lighting, ceiling fans, TV mounts, flush-mounted speakers, smoke/CO alarms.
• HVAC and plumbing fixtures, thermostats, solar panels, attached humidifiers, propane tanks (not portable), hardwired security systems and doorbells, central vacs, water softeners, sump pumps (including battery backups), window A/C units, attached fireplace equipment, attached EV charging stations.
• Built-in kitchen appliances (dishwasher, garbage disposal, built-in grills/fire pits, built-in microwave, range/oven).
• Blinds, shades, shutters, screens, storm windows/doors, awnings, curtain hardware (not the curtains themselves), attached mirrors, attached shelving, attached floor coverings.

Contingencies — the ways a buyer can legitimately walk away

A contingency is a built-in escape hatch. If a contingency isn't met by its deadline, the buyer (or sometimes either party) can terminate without losing earnest money. RES-2000 has three main ones.

§5A. Sale contingency

Lets the buyer make the deal contingent on selling and/or closing on their existing home. If you check this box, one of two riders has to be attached: MSC-2021R if it depends on the existing home selling, or MSC-2022R if it depends on the existing home actually closing.

§5B. Appraisal contingency

Only applies if the box is checked. If the property doesn't appraise for at least the purchase price, the buyer can ask the seller to lower the price — in writing, by a deadline (25 days after the Effective Date if not specified). If both sides don't reach a written agreement by the Appraisal Resolution Deadline (5 days if not specified), the contract terminates automatically and the buyer gets the earnest money back, unless the buyer waives the contingency by then.

Worth knowing: not every loan uses a traditional appraisal. If you need price protection, this box has to be checked — it's not automatic.

§5C. Financing contingency

Three choices:

• Not contingent — the buyer might still get a loan, but financing isn't a condition of the deal.
• Nonconventional — requires a rider (e.g., MSC-2011R for government loans, MSC-2012R for seller financing, MSC-2013R for loan assumption).
• Conventional — the standard. The buyer agrees to apply for the loan in good faith and provide what the lender asks for.

If the buyer can't get the loan and provides proper notice (with lender documentation) by the Loan Contingency Deadline (25 days if not specified), the contract terminates and the earnest money comes back. Miss the deadline and the contingency is waived — the buyer is on the hook to close with funds.

§6. Title and survey — proving the seller actually owns it

Title insurance protects the buyer against problems with ownership history (forged deeds, missed heirs, old liens, easements you didn't know about). The contract sets up:

• Who pays for what. Four boxes determine who covers the Title Commitment and Owner's Policy — most commonly the parties split the cost, or the seller covers both. Read the boxes carefully.
• Title review period. After the buyer receives the Title Commitment, they have a set number of days (10 if not specified) to review it and raise any objections in writing.
• Seller's response window. The seller then has a set number of days (7 if not specified) to agree in writing to fix the issues before closing. If the seller doesn't agree — or doesn't respond — the contract automatically terminates unless the buyer accepts title as-is within 3 more days (if not specified).
• Permitted Exceptions. Anything the buyer doesn't object to in time becomes a "Permitted Exception" and is deemed accepted. You can't go back and complain about it later.

There's also a separate Survey Contingency box. If the deal depends on a survey, MSC-2065R has to be attached to spell out who pays, what kind of survey, and from whom.

§7. Inspections — your chance to look under the hood

Missouri homes are sold "in their present condition" — there are no implied warranties. So Section 7 is one of the most important parts of the contract for buyers.

§7A. General

The buyer can have the home inspected during the Inspection Period — or waive inspections entirely using MSC-2051R (the As-Is Inspection Waiver Rider). If anything is damaged during inspection, the buyer fixes it and indemnifies the seller. Insurance availability (homeowner's, flood) should also be checked during this window.

§7B. Property data

The buyer can also review information about the property's zoning, taxes, school district, square footage, subdivision documents, and registered sex offenders in the area. If unsatisfied, the buyer can terminate during the Property Data Review Period (5 days if not specified). Miss the deadline and the right to terminate on those grounds is waived.

§7C. Inspection reports

The buyer can pay for whatever inspections they think are needed — general, structural, HVAC, electrical, plumbing, pool, chimney, septic/well, mold, termites/wood-destroying insects, lead, environmental hazards, you name it. These are at the buyer's expense.

§7D. The Inspection Notice

This is the formal step. The buyer must deliver an Inspection Notice within the Inspection Period (10 days if not specified) that does one of three things:

• Says everything is acceptable, or
• Lists unacceptable conditions the seller needs to fix in a workmanlike manner before closing, or
• Terminates the contract (earnest money returned, subject to §8).

Key limits to know:

• Only one Inspection Notice is allowed.
• Buyer can't object to anything not in an inspection report.
• If the inspector says a specialist is needed (a "Specialist Report"), the buyer can request more time — 5 extra days if not specified.
• Failing to deliver an Inspection Notice on time = the buyer accepts the property as-is.
• If a "LIMITATION" box is checked, the buyer waives option (3) — they can no longer unilaterally terminate, only request fixes or accept.

§7E. The Resolution Period

After the seller sees the Inspection Notice, the parties have a set number of days (10 if not specified) to reach a written agreement on who fixes what (or a price credit). If they can't agree, the contract terminates automatically. If the seller flat-out refuses everything with no counter, the buyer has a short window (2 days if not specified) to send a "Capitulation Notice" accepting the property as-is — otherwise the deal terminates.

§7F. Government/municipal inspections

Most homes in Springfield and the surrounding Southwest Missouri area don't require an occupancy inspection — but a handful of municipalities or fire districts do, and certain situations (back-flow certification, septic, sewer lateral) can trigger one. When an inspection is required, the seller applies for it at the seller's expense.

If the property fails, the seller has to notify the buyer of anything they won't correct within a set number of days (15 if not specified). Miss that deadline and the seller loses the right to negotiate — they must fix everything before closing. If the seller does timely notify the buyer of items they won't correct, the parties have a resolution period (10 days if not specified) to reach a written agreement, or the contract terminates.

§7G. Home warranty

Three options: no warranty included, seller pays toward a buyer-selected warranty up to a stated dollar amount, or seller transfers an existing warranty. The contract makes clear: a warranty is not a substitute for inspections.

§8. What happens to earnest money in a dispute

If the parties disagree about who should get the earnest money, the Escrow Holder can't just hand it out. They have to wait for written consent from all parties (signatures on the Closing Statement count), a court order or final judgment, or a lawsuit (including an interpleader filed by the Escrow Holder).

Missouri law (§339.105.4 RSMo) requires brokers holding disputed funds to deliver them to the State Treasurer within 365 days of the originally scheduled closing date. RES-2000 actually authorizes that to happen as early as 60 days after — so don't expect to leave a dispute open indefinitely.

§9. What if the house is damaged before closing?

This is the section that mattered to a lot of local homeowners after recent hailstorms in Southwest Missouri. Two big rules:

• Seller bears the risk of loss until closing. The seller has to keep their insurance in force and do ordinary maintenance and repairs through closing.
• If the property is damaged or partially taken by eminent domain, the seller has to give prompt notice (MSC-2510N is the standard form) and choose whether to restore the property to its pre-damage condition before closing — or not.

If the seller won't restore it, the buyer has two choices, due within 10 days of receiving the seller's notice and information packet:

• Proceed to closing and take the insurance/eminent domain proceeds (plus any deductible the seller didn't cover), as a credit at closing, or
• Rescind the contract — both sides walk away, earnest money is returned, no one is in default.

If the buyer fails to respond within 10 days, it counts as choosing to rescind. Rescission is not a default. (This section survives closing.)

§10. Closing costs — who pays for what

Closing costs are allocated by category. As a simplified roadmap:

§§11–17. Other important provisions

§11. Assignment and 1031 exchanges

The contract binds both parties (and their heirs/successors). The buyer can't assign the contract without the seller's written consent if the seller is taking back financing or the buyer is assuming an existing loan. Either side can do a 1031 like-kind exchange, but it can't delay closing and the other side doesn't have to take on cost or risk to help.

§12. Entire agreement

The contract (with riders/attachments) is the whole deal. Side conversations, MLS comments, and verbal promises are not binding. Any change has to be in writing and signed by all parties.

§13. Default and remedies

If either party defaults, the other side gives written notice of the default and which remedy they're choosing.

If the seller defaults, the buyer can:

• Sue to force the sale ("specific performance") and recover damages from the delay, or
• Terminate, release the seller, get the earnest money back, plus reimbursement of actual costs (liquidated damages), or
• Pursue any other legal or equitable remedy.

If the buyer defaults, the seller can:

• Sue for specific performance plus delay damages, or
• Terminate and keep the earnest money as liquidated damages, or
• Pursue any other legal or equitable remedy.

§14. Prevailing party

If there's a lawsuit over the contract, the winning side can recover court costs and reasonable attorney fees on top of any damages. This survives closing.

§15. Seller's Disclosure Statement

Three options: Box A — buyer already received the disclosure before signing the offer; Box B — seller will deliver it within a set number of days (1 if not specified), with a buyer review period (3 days if not specified) to terminate based on what's in it; or Box C — no disclosure will be provided (be cautious here; it's a buyer's decision to accept this).

Critically: the disclosure is not a substitute for inspections. And the seller has an ongoing duty — anything they learn between signing and closing that would make the disclosure misleading has to be disclosed in writing.

§16. Lead-based paint disclosure

For homes built before 1978, federal law requires a lead-based paint disclosure. If applicable, the seller provides Form DSC-2000.

§17. Walk-throughs and utilities

Even if inspections were waived, the buyer keeps the right to a pre-closing walk-through. The walk-through isn't a new inspection — it's to confirm the home is in the same general condition as on the Effective Date, and that agreed-upon repairs were done in a workmanlike manner. The seller has to keep utilities on (at the seller's expense) through closing.

§§23–26. Brokerage relationships in this contract

Two sections that matter to anyone signing this contract:

• §24. Source of broker compensation. Says whether the seller, the buyer, or both are paying broker compensation. Actual amounts are determined by the brokerage service agreements (the listing agreement and the buyer-broker agreement) or as negotiated as part of the contract itself.
• §25. Brokerage relationship. Discloses how each side's licensee is acting in this transaction — Limited Agent (representing only one side), Dual Agent (representing both with written consent), Transaction Broker (assisting both with no agency relationship), Designated Agent, or Subagent. This is required under Missouri's Broker Disclosure Form (MREC-1).

§26. Important reality check from the contract: brokers are not appraisers, inspectors, lawyers, lenders, engineers, surveyors, or hazard experts. They coordinate the process and help you find qualified professionals — and they're entitled to rely on those experts' reports without independently verifying them. If a broker is part of a franchise, the franchisor isn't responsible for the broker's actions.

§28. Federal regulations

• FIRPTA. If the seller is a foreign person, federal law may require withholding part of the sale proceeds for the IRS. Both sides should get independent tax and legal advice.
• FinCEN. Certain all-cash residential purchases by entities (LLCs, trusts, corporations) have to be reported to the U.S. Treasury. If your transaction triggers this, the buyer pays the filing costs.
• Anti-terrorism. Each party warrants they aren't on the U.S. Specially Designated Nationals list.

§30. Time is of the essence — the most important rule

Every deadline in the contract is strict. "Day" means a 24-hour calendar day, seven days a week. All times are Central Time. Missing a deadline can cost you the contract or your remedies — there is no grace period built in. Your real estate agent's job during the transaction is largely to keep both sides on top of these deadlines.

The deadlines to circle on a calendar

Default timeframes from the contract, when the blanks aren't filled in. The actual deadlines in your specific contract may be different — always check the boxes you signed.

Terms worth knowing

• Effective Date — the date the last party signs. Most countdowns start here.
• Closing Date — the scheduled date for the unconditional exchange of the deed for the purchase price.
• Contingency — a condition that must be met for the buyer (or sometimes either party) to be required to close.
• Earnest Money — buyer's good-faith deposit, credited to the purchase price at closing.
• Permitted Exceptions — title issues the buyer either accepted or failed to object to in time. They stay with the property.
• Specific Performance — a court order requiring the other side to actually complete the sale.
• Liquidated Damages — a pre-agreed amount one side keeps if the other defaults, in lieu of proving actual damages.
• Rider — an add-on document attached to the contract that modifies or adds terms (e.g., MSC-2510N, MSC-2021R).
• Notice — a formal written communication required by the contract. Delivery to the broker counts as delivery to the party.

Frequently Asked Questions

When is the contract actually binding?

The contract becomes valid and binding once the seller signs and notice of acceptance is delivered back to the buyer. The Effective Date is the date of the last party's signature. Until acceptance is delivered, the buyer can revoke the offer.

Can I get my earnest money back if I cancel?

It depends on why you're canceling. If you terminate properly within a contingency window (financing, appraisal, inspection, title, property data, sale of existing home), earnest money typically comes back. If you cancel after waiving or missing those contingencies, the seller may have grounds to keep the earnest money as liquidated damages under §13. When there's a dispute, the Escrow Holder can't release funds without written consent from all parties, a court order, or a lawsuit — and Missouri law requires the funds to be turned over to the State Treasurer within 365 days if it's still unresolved.

What does "Time is of the essence" actually mean?

It means every deadline in the contract is strict, with no built-in grace period. Days are 24-hour calendar days, seven days a week, in Central Time. Missing a deadline can waive your right to terminate, waive a contingency, or trigger default consequences. This is why staying organized on the contract calendar matters — and it's a big part of what your agent is doing behind the scenes during the deal.

Are appliances included with the house?

Built-in appliances are automatically included (dishwasher, garbage disposal, built-in microwave, range/oven, built-in grills/fire pits). Freestanding appliances like the refrigerator, washer, dryer, or garage fridge are not automatically included — if you want them, write them into the Included Items lines in §4. If you assume, you risk a dispute on moving day.

What if the house is damaged by a storm before closing?

The seller bears the risk of loss until closing and has to maintain insurance through closing. If the property is damaged, the seller chooses whether to restore it to pre-damage condition before closing — or not. If the seller won't restore it, the buyer has 10 days from receiving the seller's notice to either (a) proceed to closing and take the insurance proceeds as a credit, or (b) rescind the contract and walk away with the earnest money. Rescission is not a default.

Can I waive the home inspection to make my offer stronger?

Yes — using rider MSC-2051R (the As-Is Inspection Waiver Rider). Buyers in competitive markets sometimes do this. But understand the trade-off: Missouri homes are sold "in their present condition" with no implied warranties. Waiving inspections means you take whatever comes with the house — structural, HVAC, plumbing, environmental, or otherwise. Talk to your agent about whether the deal is worth the risk on your specific home.

What's the difference between "specific performance" and "termination" if someone defaults?

Specific performance means suing to force the deal to close as agreed. Termination means walking away with the available remedy (earnest money returned to the buyer, or kept by the seller, depending on which side defaulted). The non-defaulting party chooses which path to pursue. Either way, the prevailing party in any lawsuit can also recover court costs and reasonable attorney fees under §14.

Should I have a real estate attorney review my contract before signing?

If you have questions about how a specific provision applies to your situation, yes. We're licensed real estate professionals, not attorneys — we can explain how the contract works in practice, but we can't give legal advice. A Missouri-licensed real estate attorney can review the form, your specific situation, and advise you on your rights and obligations before you sign.

Related Reading

• For buyers: Buyer Representation Agreement Explained — what you signed before you started touring homes, and how compensation works.
• For sellers: Listing Contract Explained — the seller-side agreement that comes before this one.
• First-Time Buyer Guide — the full process from pre-approval to keys in hand.
• Sell My Home in Springfield, MO — the full pre-listing and selling process.
• Down Payment Assistance Programs — Missouri DPA options.
• VA Loans, USDA Loans, FHA Loans — loan type overviews relevant to the §5C financing contingency.
• How to Interview a Realtor — the questions to ask before you hire one.
• Free Home Valuation — for sellers thinking about listing.