The Indiana Department of Administration is responsible for the disposal of surplus land held by the state of Indiana. Based on IC 4-20.5-7, the ministry`s disposition policy has two procedures for the sale of land: sealed auctions and live auctions. The unit conducts a judicial investigation on the basis of ownership of the property. The purchase of land at market prices, as set as part of the auction or sealed auction procedure, is given to public authorities, universities and political sub-divisions. Real estate in which no state agency, university or political sub-department informs the department of their interest is awarded to the bidder with the highest bid or auction amount, which is equal to or greater than the value assessed. The Indiana sales contract consolidates the contractual obligation between a seller and a buyer participating in a real estate transaction for the sale of residential real estate. Most of the time, the person interested in buying the property will use the contract to make an offer to the seller. The seller then has the choice to accept or counter at a better price and/or adjusted provisions. If both parties can agree on the terms of the agreement, they can sign the document containing a concrete record of the sale, which is legally applicable. Some of the critical components to be included in the contract are the sale price, the location of the real estate, the financing terms and the completion date. A purchase and sale agreement in Indiana is a legally binding contract between a seller and buyers of residential real estate. This contract includes all elements of the sale of the property, including the price, condition of the land, inspections, closing conditions, rights and responsibilities of both parties, including important conditions. Both parties must sign the contract, but only after the seller has accepted the buyer`s offer and all conditions have been agreed.
The seller is also required to provide the buyer with a disclosure form detailing the various material defects and relevant information about the property. If you need to sell or buy a property, you want to avoid manipulating brokers. The main reason is that it is a very expensive service. Anyway, you have to prepare a contract. You must submit the contract for the sale and sale of real estate (no broker). It is a complex document that must be duly completed to obtain legal value. First, the contract includes the agreement in which the seller accepts the sale and the buyer agrees to purchase a property. The next section is the sale price. They indicate the amount of the purchase price, a new loan, serious money, cash at the closing, acceptance of the loan, financing of the seller and a total amount.