Transaction Coordination

Minnesota Purchase Agreement Deadlines: Disclosures, Earnest Money and Cancellation

The Minnesota purchase agreement deadlines set by statute: seller and well disclosures before signing, the CIC resale certificate, earnest money within 3 business days, the 15-day cancellation notice under section 559.217, and how statutory days are counted.

Ijharul Islam October 30, 2026 10 min read

Minnesota purchase agreement deadlines, in short: the seller's disclosure and well disclosure come before the buyer signs; if the agreement is silent, the listing broker deposits earnest money within 3 business days of receipt or final acceptance, whichever is later; and a failed deal ends by statutory notice giving the other side 15 days. The agreement sets the rest.

More on this topic: Contract deadlines by state, every guide in one place.

Most Minnesota deals use the Minnesota Realtors Purchase Agreement and its addenda, revised for August 1, 2026, but those forms are for members only, so this guide sticks to the statutes every agreement sits on and labels the one form detail taken from a secondary source. It's general information, not legal advice; the executed agreement and an attorney control. Neighbouring state: Wisconsin WB-11 deadlines.

Key takeaways

The seller's property disclosure (Minn. Stat. § 513.55) and the well disclosure (§ 103I.235) are both due before the buyer signs the purchase agreement.
If the agreement doesn't set a time, the listing broker deposits earnest money within 3 business days after receipt or final acceptance, whichever is later; earnest money on a rejected offer goes back by the next business day (§ 82.75, subd. 5(c)).
A purchase agreement is cancelled by serving a statutory notice: the other side has 15 days to cure a default (§ 559.217, subd. 3) or to get a court order stopping a cancellation for a failed contingency (subd. 4).
For statutory periods, Minnesota excludes the first day, includes the last, and skips a last day that falls on a weekend or legal holiday (§ 645.15).
Inspection, financing, appraisal and closing dates come from the agreement and its addenda; the Minnesota Realtors inspection contingency has counted calendar days since 2016, according to a home inspection company's write-up.

What are the deadlines in a Minnesota purchase agreement?

Statutes fix some; the agreement fixes the rest:

Deadline	Length	Counted from	Calendar or business days	If it's missed
Seller's property disclosure	Before the buyer signs	—	—	Disclosure duty not met (§ 513.55)
Well disclosure	Before signing; well certificate at closing	—	—	Seller liable for sealing costs of an undisclosed well; claim within 6 years of closing (§ 103I.235)
CIC resale disclosure certificate	Before the purchase agreement; dated no more than 90 days earlier; association has 10 days to provide it	Owner's request	Days	Buyer isn't liable for unpaid assessments not listed (§ 515B.4-107)
Earnest money deposit (agreement silent)	3 business days	Receipt or final acceptance, whichever is later	Business days	A breach of the broker's trust account duties (§ 82.75, subd. 5(c))
Earnest money on a rejected offer	Next business day	Rejection	Business days	Same
Inspection contingency	As written in the addendum	Acceptance	Calendar days (secondary source)	Per the addendum
Lead-based paint inspection opportunity (pre-1978)	10 days	Set by the contract	Days	Unless changed in writing or waived (federal rule)
Cure after a cancellation notice for default	15 days	Service of the notice	Counted under § 645.15	Agreement cancelled; earnest money to the cancelling party (§ 559.217, subds. 3, 7)
Stop a declaratory cancellation (failed contingency)	15 days to get a court order	Service of the notice	Counted under § 645.15	Cancellation complete (subds. 4, 7)
Closing	The date in the agreement	—	—	Default; the other side may serve a cancellation notice

What must a Minnesota seller disclose before the buyer signs?

Section 513.55 requires the seller, before signing an agreement to sell or transfer residential real property, to disclose in writing the material facts the seller knows of that could significantly affect an ordinary buyer's use and enjoyment of the property, or a use the seller knows the buyer intends. Delivering it to the licensee representing or assisting the buyer counts as delivery to the buyer, and the licensee must pass a copy on.

Section 103I.235 adds a separate written well disclosure before signing: the status and location of all known wells, or a statement that the seller knows of none. A well disclosure certificate goes with the deed at closing unless the seller knows of no wells and the deed says so. A seller who knew, or had reason to know, of an undisclosed well is liable for the cost of sealing it, and the buyer has six years after closing to sue. For condos and other common interest communities, § 515B.4-107 has the unit owner furnish a resale disclosure certificate before the purchase agreement, dated no more than 90 days before it, and gives the association 10 days after the owner's request to provide it. Minnesota Realtors updated its form for receiving these documents for 2026 statutory changes. For pre-1978 homes, the federal lead-based paint disclosure also applies. See seller disclosure requirements by state.

When is earnest money due in Minnesota?

When the purchase agreement says. If it's silent on timing, § 82.75, subd. 5(c) requires the listing broker to deposit earnest money into its trust account within three business days of receipt or of final acceptance of the purchase agreement, whichever is later. Earnest money on an offer that's rejected must go back to the buyer no later than the next business day after rejection.

With acceptance on Monday, November 2, 2026 and the check already in hand, the deposit is due Thursday, November 5. With acceptance on Monday, November 9, Veterans Day on the 11th, a federal holiday, would push it to Friday, November 13. See the earnest money deadline.

How do you cancel a Minnesota purchase agreement?

Through section 559.217, which covers residential purchase agreements for property with one to four family residences, including vacant land intended for that use. Either buyer or seller can use it, and service must follow § 559.21 even if the agreement says otherwise. There are two routes:

Cancellation for default or an unmet condition (subd. 3). When a default or unfulfilled condition remains after the date for it, and the agreement doesn't cancel itself, either party can serve notice on the other and on whoever holds the earnest money. The agreement is cancelled 15 days after service unless the recipient cures and completes the conditions, or gets a court order suspending the cancellation, within that time.
Declaratory cancellation (subd. 4). When the agreement says it cancels if a condition isn't met, such as a financing or inspection contingency, either party can serve notice confirming the cancellation. It becomes complete unless the recipient gets a court order suspending it within 15 days after service.

After either route, the agreement is void and the earnest money goes to the party who completed the cancellation; a third-party holder can release it on that party's affidavit of service and non-compliance (subd. 7). If both sides serve notices before either finishes, the agreement is cancelled when the second notice is served and a court decides who gets the earnest money (subd. 2). In a suspension proceeding, the court can award the winner fees and costs up to $3,000 (subd. 6). The notice has statutory content and type-size rules (subd. 5), so it's usually prepared by an attorney. See earnest money disputes.

How are the 15 days counted?

Section 559.217 doesn't say calendar or business days. Minnesota's general rule for statutory time periods, § 645.15, excludes the first day, includes the last, and leaves out a last day that falls on a Saturday, Sunday or legal holiday. Reading the two together is our interpretation, not a court ruling, so have the attorney serving the notice confirm the date.

Example	Date
Notice served Monday, November 30, 2026: day 15	Tuesday, December 15
Notice served Friday, December 4, 2026: day 15 is Saturday, December 19	Monday, December 21 under § 645.15
Earnest money, acceptance Monday, November 2, 2026 (3 business days)	Thursday, November 5
Inspection contingency, if the addendum says 10 calendar days after acceptance on November 2	Thursday, November 12

The dates are illustrative; the executed agreement and the notice control. See calendar days vs business days.

How long is the inspection period in Minnesota?

As long as the inspection contingency addendum says; no statute sets it. According to a 2016 write-up by a home inspection company (a secondary source; we couldn't read the members-only form), the Minnesota Realtors inspection contingency revised that August replaced separate business-day windows for inspecting, the buyer's response and the seller's response with a single number of calendar days for all inspections, tests and resulting negotiations, weekends and holidays included. Check the current addendum's wording for what happens if the parties don't agree in time.

Minnesota Realtors' 2026 changes, effective August 1, 2026, renamed the well inspection contingency the Well Water Inspection Contingency in the purchase agreement and revised several other forms. Check the year in your form's footer. See the repair request process.

What happens if you miss a deadline in Minnesota?

A missed contingency or performance date doesn't end the deal by itself unless the agreement says so; it's the statutory notice that does. If the agreement cancels automatically on a failed condition, either side can confirm it with a declaratory cancellation notice; otherwise the party not in default serves a notice and the other side has 15 days to cure. Either way, track the service date as carefully as the original deadline. See what happens if you miss a contingency deadline.

How do you track Minnesota purchase agreement deadlines in Closingbird?

Copy the contingency dates from the purchase agreement and every addendum, confirm the final acceptance date, and note when the earnest money check arrived. Add the cancellation dates the day a notice is served.

Closingbird reads the executed agreement and fills in the dates it finds; you check and edit them. Contract reading covers about the first 12,000 characters of a long document, and Minnesota files usually include several addenda, so check that each contingency date came through (see how contract reading works). Calendar-day contingencies go in as “X days after acceptance”, and the earnest money date can be “3 business days after acceptance” when the check came with the offer; Closingbird's business days skip weekends and US federal holidays. The 15-day notice period runs from service, so set a fixed date for it, moved off a weekend or holiday as § 645.15 does. Each owner gets a morning reminder. See deadline tracking and business days vs calendar days.

Frequently asked questions

When must a Minnesota seller give the disclosure statement?

Before the buyer signs the purchase agreement (Minn. Stat. § 513.55), along with the well disclosure (§ 103I.235).

How long does a Minnesota broker have to deposit earnest money?

If the agreement doesn't say, three business days after receipt or final acceptance, whichever is later (§ 82.75, subd. 5(c)).

How do you cancel a purchase agreement in Minnesota?

By serving a notice under § 559.217. For a default, the other side has 15 days after service to cure; for a contingency that cancels the agreement, the notice confirms the cancellation unless a court order stops it within 15 days.

Who gets the earnest money after a Minnesota cancellation?

The party who completed the statutory cancellation, unless both sides served notices, in which case a court decides (§ 559.217, subds. 2 and 7).

How long is the inspection contingency in Minnesota?

The number of days in the inspection contingency addendum. No statute sets it, and the current Minnesota Realtors form counts calendar days, according to secondary sources.

Run it in Closingbird

Upload a Minnesota purchase agreement with its addenda, check the contingency dates Closingbird fills in, and add the cancellation date the day a notice is served. Start a free trial (14-day free trial, no credit card required) or see pricing.

Sources

Checked in October 2026. Rules and prices change, and many vary by state, so confirm with the source, your state's real estate commission or your broker before you rely on them.

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