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. Seller`s Residential Real Estate Sales Disclosure (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. The seller`s residential property sale form informs the buyer of defects, problems or other information*, which should be reported before the conclusion of a purchase and sale contract. Disclosure of the Seller`s Sale of Residential Real Estate (Form 46234) (Article 32-21-5-10) – Before accepting the potential buyer`s offer, the seller is legally required to provide the potential buyer with a complete copy of the aforementioned disclosure form, which lists various essential facts/defects requested regarding the contracted property. *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.
The Indiana Department of Administration is responsible for the Indiana State Surplus Land Ordinance. Based on IC 4-20.5-7, the ministry`s disposition policy holds two processes for the disposal of excess land: sealed bid and live auction. The department conducts a trial search on the basis of properties. The purchase of land at market prices, as fixed by the sealed auction or auction procedure, is granted in preference to public authorities, universities and political subdivisions. Immovable property for which no public authority, university or political subdivision informs the department of its interest shall be awarded to the tenderer whose tender or auction amount is the highest, equal to or greater than the depreciated value. . . .