An agreement for the purchase and sale of indiana residential is a legally binding contract between a seller and a buyer of residential real estate. This contract includes all the elements of the sale of the property, including the price, the condition of the property, inspections, closing conditions, rights and obligations of both parties, among other important conditions. Both parties must sign the contract, but only after the seller has accepted the buyer`s offer and all the conditions have been agreed. The seller is also required to provide the buyer with a disclosure form displaying the various factual defects and relevant information regarding the property. If you need to sell or buy real estate, you want to avoid dealing with brokers. The main reason is that it is a very expensive service. Anyway, you need to prepare a contract. You must submit the contract for the sale of real estate (no broker). This is a complex document that must be duly completed to obtain legal value. *It is important to note that there is a separate law concerning real estate regulated by an association of owners (§ 32-21-5-8.5) which requires the seller to provide the buyer with a copy of the registered reference documents, a declaration of valuation and information on the administrative services of the HOA. On the seller`s disclosure form, the box must be buttoned in addition to the question asked on HOA and the necessary information must be entered in the „Additional Comments“ section or be attached as an addendum. Initially, the contract includes the agreement by which the seller accepts the sale and the buyer accepts the purchase of a property.
The next section is the selling price. They indicate the amount of the purchase price, a new credit, serious money, cash at closing, taking charge of the loan, financing of sellers and a total amount. In this contract, you must describe the conditions of ownership: mechanical equipment, utilities, etc. The federal tax liability is also included in the contract. Here are the most important details. In principle, the contract can be accompanied by a copy of the document confirming ownership of the property or your right to sale. Disclosure of Seller`s Residential Real Estate Sales (Form 46234) (§ 32-21-5-7) – This is a complete disclosure form that must be completed by the seller of a residential property and submitted to any potential buyer. . . .