Indiana Residential Purchase and Sale Agreement
An Indiana residential purchase agreement is a legally binding contract form between both the seller and a residential real estate buyer. This agreement outlines all the necessary details regarding the property sale, such as the mutually agreed-upon price, the property’s condition, inspections, closing terms, rights and obligations of the parties and terms. Both parties can only sign the agreement after the seller has agreed the buyer’s offer, in writing, and all the words have been agreed upon. The seller also must give the buyer any disclosure forms that outlines any material defects or critical information related to the property.
Lead-Based Paint Disclosure – Any property built before 1978 requires lead paint disclosure under federal law.
Source: § 32-31-3-18