Mississippi real estate transaction rules

Written buyer agency / buyer agreement: when it must be signed and what it must say

Since July 1, 2026 (SB 2713 / SB 2748), a written brokerage agreement is required before submitting an offer. Showings are exempt.

• A “brokerage agreement” is now defined as a written agreement between the broker and the consumer that sets up the brokerage relationship and states the services and compensation.
• A brokerage agreement is required before listing a property for a seller and before submitting an offer for a buyer client or customer for compensation.
• MREC says an agent may still show property without first getting a brokerage agreement, and the Working With a Real Estate Broker (WWREB) disclosure requirement is unchanged.

Are escalation clauses allowed, and who may draft them?

No MREC rule on escalation clauses was found. Mississippi REALTORS® treats them as an option that carries risks.

• We found no Mississippi statute or MREC rule that specifically addresses escalation clauses.
• Mississippi REALTORS® (2021 guidance) describes escalation clauses as an option in multiple-offer situations. It notes that sellers are not obligated to honor them and may counter at the buyer's revealed cap, and that tracking escalations creates liability risk for agents.
• Whether a particular escalation provision is appropriate is a legal question for the parties' attorneys. Not verified yet.

Must a licensed attorney handle the closing?

No statute requiring an attorney at closing was found. Drafting deeds and similar documents for others for a fee is the practice of law.

• Miss. Code § 73-3-55 treats writing deeds, deeds of trust, mortgages, or contracts for others for a fee, and certifying title abstracts, as the practice of law, with limited exceptions for certain title and abstract companies.
• We found no Mississippi statute or rule requiring that an attorney conduct the closing itself. Not verified yet.

Who holds the deposit and how fast it must be deposited

Since July 1, 2026, brokers have 2 banking days after the day of receipt to deposit earnest money (up from 1).

• MREC: a broker's time to deposit earnest money into the trust or escrow account was extended to two banking days after the day of receipt, from one banking day.

Can one broker represent both sides, and on what terms?

Allowed only as disclosed dual agency, with the informed written consent of all parties on MREC forms.

• A licensee may act as a disclosed dual agent only with the informed written consent of all parties (30 Miss. Code R. 1601-4.3(C)).
• Seller and buyer each consent in the Consent to Dual Agency section of MREC Form A when they enter their representation agreements.
• Before an offer is signed, the buyer signs the MREC Dual Agency Confirmation Form. The seller signs it before the offer is presented, and the form stays attached to the offer.

Key required seller disclosures

The MREC Property Condition Disclosure Statement (PCDS) is required on 1–4 unit transfers involving a licensee. Late delivery gives the buyer 3 or 5 days to terminate.

• The disclosure law applies to transfers of real property with one to four dwelling units when a licensed broker or salesperson is involved. Exemptions include court-ordered, foreclosure, fiduciary, co-owner, family, divorce-related, and government transfers (Miss. Code § 89-1-501).
• The seller delivers the PCDS as soon as practicable before title transfers. If it is delivered after the buyer's offer, the buyer may terminate within 3 days after in-person delivery or 5 days after delivery by mail (§ 89-1-503).
• MREC publishes the PCDS form.
• Federal rule: for most housing built before 1978, sellers must give the lead-based paint disclosure.

The standard inspection, due diligence, or option period in the common state form

Not verified yet. The Mississippi REALTORS® standard contract (F1) is member-only.

• Mississippi REALTORS® publishes the F1 Contract for the Sale and Purchase of Real Estate (2018 revision set), but only to members. We found only third-party copies of the form, which we don't rely on, so we have not verified its inspection period. Not verified yet.