Indiana Land Purchase Agreement Form

State:
Indiana
Control #:
IN-P033-PKG
Format:
PDF; 
Word; 
Rich Text
Instant download

Description

This package contains the forms that are necessary for sellers and purchasers to enter into a legally binding obligation to sell and purchase real property at the expiration of or during a lease term. In a lease purchase agreement, a party agrees to purchase a particular piece of real property within a certain timeframe, usually at a price determined beforehand. With this package, you will find the essential forms to assist you in successfully entering into and executing a commitment to purchase or sell real property.


The documents in this package include the following:


1) Contract for Lease and Mandatory Purchase of Real Estate-Specific Performance Clause;

2) Contract for Lease and Purchase of Real Estate- Purchase by Date or Leave;

3) Personal Guaranty of Contract for the Lease and Purchase of Real Estate; and

4) Residential Real Estate Sales Disclosure Statement.

Purchase this package and save up to 30% over purchasing the forms separately!


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  • Preview Indiana Lease Purchase Agreements Package
  • Preview Indiana Lease Purchase Agreements Package
  • Preview Indiana Lease Purchase Agreements Package
  • Preview Indiana Lease Purchase Agreements Package

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FAQ

An option agreement is a contract between the owner of a property and a potential buyer, giving the buyer the right to serve notice upon the seller to sell the property either at an agreed price or at its market value. Often, the purchaser will pay the seller a fee for entering into an option agreement.

What is an "option to purchase" agreement? An option to purchase is an agreement that gives a potential buyer (optionee) the right, but not the obligation, to buy property in the future. The optionee must decide by a certain time whether to exercise the option and thereafter by bound under the contract to purchase.

The Indiana purchase agreement solidifies the contractual bond between a seller and buyer participating in a real estate transaction for the sale of residential property.

A land contract in Indiana works as follows:The contract is drafted after successful negotiations. Both parties sign the pact. The buyer pays the initial down payment, subsequent monthly installments, and final balloon payment. The seller transfers the ownership title once the buyer pays off the entire debt.

You can get out of a real estate contract in Indiana during several stages of the buying process. First, the offer must be accepted to make it binding. If the seller rejects the offer, the buyer can make a counter-offer or leave the deal. If the seller agrees to the offer and has not signed it yet, it can be rescinded.

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More info

Indiana Offer to Purchase Real Estate Form Free. Indiana Real Estate Purchase Offer Forms US Legal Forms.Buyer should verify total square footage, land, room dimensions or community amenities if material. 60. You must submit the contract to purchase real estate (not a broker). If the buyer requires financing, include the type of financing and the total cost of the loan. 4. Set conditions on the sale. Make sure that your real estate sales contract in Indiana meets the above criteria. If you have a contract question, please consult your Broker or a licensed Attorney. The completed document must be given to potential buyers before an offer is accepted. Financial ability to complete the purchase without the sale of the property referenced above. 2.

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Indiana Land Purchase Agreement Form