South Dakota Real Estate Contract: Different Types and Key Terms to Include
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What is a South Dakota Real Estate Contract?
In South Dakota, a real estate contract is a legal agreement between two parties, a buyer and a seller, for the purchase of real property.
Real estate contracts must include certain information to ensure the sale can move forward. It is common to see the following issues addressed in a real estate contract:
- Identification of the parties
- Legal description of the property
- Purchase price
- Contingencies
- Required disclosures
- Closing date and fees
Real estate contracts must be in writing and are only considered binding and enforceable once the contract is signed by both parties.
Common South Dakota Real Estate Contracts
Common South Dakota real estate contracts include:
- Residential real estate contract. The most frequently used contract to buy and sell and existing residential house or property zoned for residential housing. The South Dakota Real Estate Commission has an approved contract template for these types of sales.
- Commercial real estate contract. Used to buy and sell property zoned for commercial use like operating a business.
- Lease agreement. Used by property owners who wish to rent their property to tenants.
4 Essential Elements of a South Dakota Real Estate Contract
Under South Dakota contract law, there are 4 essential elements that must exist to create a valid contract:
- Parties capable of contracting
- Consent of the parties to enter the contract
- A lawful object
- Sufficient consideration
What is a Contract for Deed in South Dakota?
In South Dakota, a contract for deed is a real estate contract in which the buyer makes payments to the seller, rather than a traditional lender for purchase of a property. The seller will retain the title to the property until the contract is fulfilled. The buyer typically has the right to occupy and use the property while making payments but does not have clear title to the property until the contract is satisfied.
Frequently Asked Questions
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Meet some of our South Dakota Real Estate Contract Lawyers
August 23, 2025
Alexander C.
I am a solo practitioner that runs my own legal practice. I am currently licensed in 16 states and I'm working to expand that reach.
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Review Real Estate Purchase Agreement
"Very knowledgeable and helpful. We would work with him again ."
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"Dolan did incredible with my Purchase Agreement contract. He was extremely timely and efficient in his work and I greatly appreciate how quickly he was able to get this done for me and my fiance. Thank you!!"
1763 N. 6th Street
"Had a really good experience with Dolan...He answers questions quickly and provides real life support with legal documents to back it up. He met my needs as situations arised. Really couldn't move forward without feeling vulnerable. Having Dolan by my side was a huge relief mentally and spiritually. Many thanks Dolan!!!"
Meet some of our other Real Estate Contract Lawyers
September 6, 2023
Kahlee S.
I opened Hestia Legal when I was 6 months pregnant with the focus on educating and assisting families in my community. While the majority of my practice revolves around Estate Planning, I have a history of experience with contract and general business agreement drafting, discovery drafting, and general litigation document drafting.
September 6, 2023
Nadir C.
I am a licensed attorney in Illinois, I am currently a Regulatory Compliance Analyst.
September 11, 2023
Torrey L.
Torrey Livenick, Esq. is a fourth generation Colorado lawyer. Although she was born in California and raised in Nevada, she spent every summer in Colorado and knew she planned to make Denver her home. After graduating from Bryn Mawr College with a degree in Classical Culture and Society, she returned to Las Vegas to work as a paralegal. Once she spent five years building her skills and confirming her interest, she attended Emory University School of Law. Torrey’s interests include trivia (she even was a contestant on Jeopardy! during her law school days), video games, playing with her cats, and the arts. She is active in pro bono organizations including Metro Volunteer Lawyers.
September 6, 2023
Peter H.
Haber Law Firm, APC, is a transactional business law firm with a focus on small/mid-market business purchases and sales, outside general counsel, and start-up assistance for businesses in their early stages. Peter Haber started Haber Law Firm, APC after several years as a legal executive at Popcornopolis, a gourmet popcorn brand sold at groceries and stadiums nationwide. In this role, Peter served as the company’s sole in-house legal advisor as it related to all functions of the company’s operations, including dispute resolution, compliance, and employment law, to name a few. With his help and guidance, the company relocated its entire corporate and manufacturing operation, developed a new factory and warehouse, and was successfully acquired by private equity. Prior to this, Peter was a litigator and business attorney with distinguished Los Angeles litigation boutiques. Such matters included the representation of numerous businesses in litigation and in the resolution of pre-litigation disputes as well as the representation of professionals in liability defense matters, including hospitals, physicians, and brokers.
Kyle T.
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Sashi S.
Credible history in navigating complex legal landscapes to deliver strategic solutions that optimize employee benefits programs and healthcare compliance. Demonstrated mastery in interpreting and applying ERISA, HIPAA, and ACA regulations, safeguarding client interests, and minimizing legal risks. Remarkable background in advising diverse clientele, ranging from corporations to healthcare providers, on intricate regulatory frameworks, compliance strategies, and litigation support. Adept at crafting innovative strategies, providing expert guidance, and driving compliance with unwavering precision. Skilled in leveraging unique skill set that combines medical knowledge and technological proficiency to address multifaceted challenges at intersection of healthcare and technology. Exceptional project management skills with track record of contributing to high-impact initiatives. Accomplished in drafting and negotiating contracts, mitigating legal risks, and streamlining processes.
Real Estate
Real Estate Contract
Georgia
How many years does a quick claim become effective?s
Number of years for quick claim to be effect ive
Meghan T.
A quit claim deed is effective upon execution so long as the deed is dated as of the date of signature. Execution means that the deed is signed, in front of a witness and a notary. The witness and notary must also sign the deed. Finally, the deed must be recorded. This means that the deed must be submitted to the Superior Court recording office of the County in which the property sits. Please let me know if you have any questions. Thanks, Meghan K Thomas
Real Estate
Real Estate Contract
Illinois
what is better to buy land or rent for construction in US?
we are a construction company from Ukraine, we are planning to build a cottage town in the USA
T. Phillip B.
I suppose it doesn't matter if you have the lease giving you permission and the lease is long enough to justify the building expense when you won't own it. But I'd buy the land so you could eventually sell the property with the building on it.
Real Estate
Real Estate Contract
Georgia
WHAT ARE YOUR FEES TO PERFORM QUIT CLAIM DEED COMPLETE BUTTS COUNTY GEORGIA 30233
SON AND EX
Meghan T.
Hi. The cost for my practice to prepare a Quit Claim Deed is $99. The Cost for me to handle the closing is $250 plus recording fees. These costs apply for any county within the state of Georgia. Let me know if you have any more questions. Meghan K Thomas
Real Estate
Real Estate Contract
New York
Can you purchase or refinance under a land contract?
I’ve been living here for 2 years. Currently have been working with my credit union and they are having a terrible time trying to understand the legalities of my land contract first off, and secondly they just don’t seem to know what they are doing. It’s been over 8 months, 4 different loan officers and I’m once again waiting for someone else to help finish this thing out. It’s only $60,000 with a $120,000 appraisal. So, as of now I am stuck paying 2.5x monthly under this land contract than I was promised would be an easy mortgage process. So any guidance in the right direction would be very helpful. It’s a New York home. 20 yr fixed, no balloon, with a (brace yourself) 12% apr. HELP ME PLEASE! One month I’m being told to authorize a credit check for a first time homebuyer grant method of mortgaging this property. The next it’s authorizing it for a refinance. I do have earnest money deposits for over $3,000 and another $3000 paid towards principal under this land contract also.
Jane C.
I suggest you speak with a New York real estate attorney. That attorney needs to review the documents related to the transaction.
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Real Estate Purchase Agreement Drafting
Location: Washington
Turnaround: Less than a week
Service: Drafting
Doc Type: Real Estate Purchase Agreement
Number of Bids: 2
Bid Range: $950 - $3,400
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