Purchase Agreement Unimproved Property Indiana

Disclosure of the seller`s sale of residential real estate (Form 46234) (§ 32-21-5-10) – Before accepting the potential buyer`s offer, the seller is legally required to provide him with a completed copy of the above disclosure form, which records various requested material facts/defects regarding the property that will be under contract. Where to register? (In Code § 32-21-2-3) – Deeds must be registered at the county registry office where the property is located. Fees are calculated according to the established schedule. If Buyer decides to complete the Purchase at an amount greater than the reasonable value determined by VA, Buyer will pay such excess amount in cash from a source that Buyer discloses to VA and that Buyer represents will not come from borrowed funds unless approved by VA. If the reasonable VA value of the property is less than the sale price, the seller may reduce the sale price to an amount equal to the reasonable value of the VA, and the sale will be made at the lower sale price with proportional adjustments to the down payment and the loan amount. Disclosure by the Seller of the Sale of a Residential Property (Form 46234) (§ 32-21-5-7) – This is a complete disclosure form that must be completed by the seller of a residential property and presented to any potential buyer. The Seller`s Residential Property Sales Disclosure Form informs the buyer of any defects, problems or other information* that should be brought to their attention before entering into a purchase and sale agreement. VA NOTICE TO BUYER: “It is expressly agreed that, notwithstanding any other provision of this Agreement, no penalty will be imposed on Buyer for forfeiture of real money or otherwise, nor will it be required to complete the purchase of the property described herein if the purchase price or cost of the Agreement exceeds the reasonable value of the Property as determined by the Department of Veterans Affairs. However, the purchaser has the privilege and opportunity to proceed with the conclusion of this Agreement, regardless of the amount of reasonable value established by the Department of Veterans Affairs. “First of all, the contract includes the agreement in which the seller accepts the sale and the buyer accepts the purchase of a property. The next section is the selling price. They specify the amount of the purchase price, a new loan, real money, cash at closing, taking over the loan, seller financing and a total amount.

In this contract, you must describe the ownership structure: mechanical equipment and appliances, utilities, etc. The federal tax requirement is also included in the contract. These are the most important details. ____________________________________________________________________________Date________________ In most cases, the person interested in buying the property will use the contract to make an offer that will be presented to the seller. The seller then has the choice to accept a better price and/or adjusted provisions or to submit a counter-offer. If both parties can agree on the terms of the agreement, they can sign the document containing a specific registration of the sale that is legally enforceable. Some of the critical elements that must be included in the contract are the sale price, the location of the property, the financing conditions and the closing date. C. Unless expressly authorized by written agreement, the Seller may continue to display the property and receive, negotiate and accept backup offers. 22. AGREEMENT OF THE PARTIES: This Agreement contains the entire agreement of the parties and may only be modified by their written agreement.

The supplements that form part of this Agreement are (check all applicable boxes): __ (b) Consent Required: If all or part of the Property is sold, transferred, leased for a period of more than 3 years, leased with an option to purchase or otherwise sold without the prior written consent of the Seller, the Seller may declare the remainder of the Obligation, to be due and payable immediately. The establishment of a subordinate privilege, any threat or condemnation, any act exclusively between buyers, the transfer of ownership due to the death of a buyer or ipso jure do not entitle the seller to exercise the remedies provided for in this paragraph. ______ B. FHA INSURED FINANCING: A section _____ FHA insured loan of at least $_ Compliance with HUD/FHA or VA requirements a written statement issued by the Federal Housing Commissioner. The Department of Veterans Affairs or a direct lender that indicates the estimated value of the property of at least $__.. .