An Indiana purchase agreement is the document two parties sign when they agree to details about buying and selling real estate. The parties include information like the purchase price and other covenants on the Indiana real estate form.
Contents hideWhen a buyer makes an offer on a real estate property, they sign the Indiana purchase contract. The buyer’s agent delivers it to the seller’s agent, who then informs the seller. As soon as the seller agent delivers the Indiana real estate purchase agreement, the seller has to respond by a certain time or the document expires.
In Indiana, the purchase document is a legally binding contract. Therefore, the buyer and seller must be at least 18 years old and be considered mentally capable of signing a contract. Indiana real estate law requires agents to be licensed by the state.
The Indiana purchase form needs the offer from the buyer and the acceptance from the seller. It also needs to include specific considerations and terms for the purchase. If the purchase is new construction, the builder must finish working on the property by the closing date.
Before a buyer signs an Indiana home purchase agreement, the document should explain the details about earnest money and down payments. If the contract falls through, the purchase document should explain what happens to the earnest money given to the seller before the sale closes. In some situations, the seller could keep the earnest money.
Purchase forms for businesses need to be reviewed by lawyers to ensure the details and covenants are complete. An Indiana business agreement should include details about physical and intangible assets.
No buyer or seller should exchange any assets of significant value without signing a binding contract like an Indiana asset purchase form. While some verbal contracts are viable in Indiana, they aren’t as reliable as written contracts.
Land purchases are significant assets, so buyers and sellers should always complete an Indiana land agreement.
Since stock trades can have notable value, the parties involved in trading stock in Indiana need to have a signed legal document. Problems can arise when buyers and sellers exchange valuable items without legal documentation.
Indiana residents can find more information below.
How do I write a purchase agreement in Indiana?Real estate agents should complete purchase documents accurately. Any mistakes in the document can create situations if the deal falls through or if a covenant is breached at closing.
Does the purchase agreement need to be notarized in Indiana?Indiana purchase forms need notarization. The law regarding signatures on real estate documents changed in 2020.
How to fill out an Indiana purchase agreement?Agents should include the buyer’s and seller’s names, the property address, and the contractual price for the property. The Indiana purchase document also needs a list of items the buyer and seller agree to keep in the property at closing.
