Iowa Real Estate Purchase and Sale Agreement (Investor PDF)
An investor-ready purchase and sale agreement drafted for Iowa transactions, plus a plain-English summary of what Iowa law expects in a residential purchase contract. Free PDF, no signup required.
Iowa Purchase and Sale Agreement
Free PDF • Updated July 2026
Part of our free real estate investor forms library.
What Iowa Requires in a Purchase Contract
These are the contract and disclosure requirements our research identified for Iowa residential transactions, with statute citations. Requirements change; always confirm the current rule before closing.
Seller Property Condition Disclosure Statement
Iowa Code ch. 558A; 193E IAC ch. 14 (rule 193E-14.1(543B))
Seller of residential property with 1-4 dwelling units must deliver a written property condition disclosure to the buyer before the seller makes a written offer to sell or accepts a written offer to buy; applies whether or not a licensee is involved.
Applies to: all residential 1-4 dwelling units (exempt transfers listed in Iowa Code 558A.1, e.g. court-ordered, foreclosure, between co-owners, to/from government)
Radon Fact Sheet Acknowledgment (within disclosure statement)
193E IAC 14.1(7) (ARC 7776C, effective 5/22/24), implementing Iowa Code ch. 558A
Disclosure statement must cover radon testing history, and both seller and buyer must acknowledge that buyer is provided the 'Iowa Radon Home-Buyers and Sellers Fact Sheet' prepared by Iowa HHS; asbestos, lead paint, flood plain, wells, septic also mandated items. No particular language required if all mandated items are included.
Applies to: all residential 1-4 (same scope as 558A)
Groundwater Hazard Statement Verbatim language required
Iowa Code 558.69
At recording, each declaration of value must be accompanied by a groundwater hazard statement (DNR form) disclosing known private burial sites, wells, hazardous solid waste disposal sites, underground storage tanks, hazardous waste, and private sewage disposal systems; signed by at least one seller or agent; seller must give buyer a copy; recorder must refuse to record without it. Purchase contracts commonly allocate this obligation.
Applies to: all conveyances requiring a declaration of value (recording requirement, not a contract disclosure per se)
Federal Lead-Based Paint Disclosure Verbatim language required
42 U.S.C. 4852d; 40 CFR 745.113(a) (subpart F)
Sales contract for pre-1978 target housing must contain the Lead Warning Statement, seller disclosure of known lead paint/hazards, list of records provided, buyer acknowledgment, 10-day risk assessment opportunity or waiver, agent certification, and signatures.
Applies to: pre-1978 residential (target housing)
Iowa Closing Practice at a Glance
| Deed convention | General warranty deed is customary for arm's-length residential sales; Iowa Code 558.19 provides short statutory conveyance forms |
| Transfer tax | Iowa real estate transfer tax (Iowa Code ch. 428A) |
| Customary payer | seller (statute imposes tax on the conveyance, paid at recording; custom and standard contracts put it on seller); rate is $0.80 per $500 (or fraction) of consideration in excess of the first $500, i.e. $1.60 per $1,000 with first $500 exempt (Iowa Code 428A.1(1)(a)(2)) |
| Attorney closing | Attorney required or customary. Iowa is an abstract-and-attorney-opinion state. Iowa Code 515.48 prohibits insurers from selling title insurance in Iowa (upheld in Chicago Title Ins. Co. v. Huff, 1977); the state-run Iowa Title Guaranty program substitutes, and it requires an abstract plus an Iowa attorney title opinion. Attorney involvement is effectively built into every closing. |
| Witness and notary | Deeds must be signed and acknowledged before a notarial officer to be recorded (Iowa Code ch. 558; acknowledgment forms at 558.31, notarial acts ch. 9B). No subscribing witnesses required. First page of deed must carry the 558.69(8) no-hazard statement when no groundwater hazard statement is filed. |
More Investor Resources
Disclaimer: This template and summary are provided free for reference and educational purposes. Clearway Home Buyers is not a law firm and does not provide legal advice, and no attorney-client relationship is created by downloading or using these forms. Real estate law varies by state and by transaction. Review any form with a licensed Iowa attorney before use. Read the full disclaimer.
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