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Attorney fees: There is no law that requires a lawyer in Indiana real estate deals, but hiring a real estate attorney is well worth the investment to make sure you're protected in such a large transaction.

A purchase and sale agreement is also not the final document, so parties can (and usually will) renegotiate some terms before closing the transaction. You'll need to monitor the agreement closely to ensure that parties follow the terms or to discover when you may renegotiate more favorable terms.

What is the timeframe for exchange of contracts and completion? In most instances, exchange of contracts will usually take place anywhere between one to four weeks prior to completion date. It is, however, possible to exchange contracts and complete on the same day, but it's not for the faint of heart.

After you've signed a purchase agreement, the final walk-through is completed with the sellers before closing. This is to ensure that the property is in the same condition as when the offer was accepted, and that any agreed-upon repairs have been made.

Steps in the escrow process Opening an escrow account. The first step is to open an escrow account, which is usually done by the seller, but can also be done by the buyer. ... Appraisal and home inspection. Your mortgage lender will order an appraisal of the home. ... Obtaining insurance coverage. ... Final walkthrough. ... Closing.

Sellers do not usually need to be present at an Indiana closing so long as all costs are paid and documents are signed. Typically, the buyers will sign the final documents at the office of their title company or escrow agent and pick up the keys.