Complete Legal Indiana Real Estate Closings Forms For Free

Signing a PSA does not complete the sale of the home. Signing a purchase agreement, however, does complete the home sale. Where the PSA lays out the details of the transaction leading up to the closing date, the purchase agreement is what you sign to finalize the transaction.

A purchase agreement is a legal document that is signed by both the buyer and the seller. Once it is signed by both parties, it is a legally binding contract. The seller can only accept the offer by signing the document, not by just providing the goods.

Many Hoosiers mistakenly believe that they can legally cancel contracts or purchase decisions as long as they do it within three days of making an agreement. In most cases, that's simply incorrect. Under Indiana law, a sale is usually considered final immediately.

Indiana Real Estate Purchase Agreement A purchase and sale agreement is a very important and legally binding document that outlines the terms and conditions of the real estate contract that the buyer and the seller have both discussed and accepted.

A purchase and sale agreement, also called a sales and purchase agreement or a purchase and sales contract, is a legally binding document that parties in a transaction use to stipulate the terms and conditions that will guide the sale and transfer of goods or property.

Indiana law (IC 32-21-5) generally requires sellers of 1-4 unit residential property to complete this form regarding the known physical condition of the property. An owner must complete and sign the disclosure form and submit the form to a prospective buyer before an offer is accepted for the sale of the real estate.