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Indiana Purchase Agreement (Improved Property) Form

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Indiana Purchase Agreement (Improved Property) Form
Indiana Purchase Agreement (Improved Property) Form
PURCHASE AGREEMENT
(IMPROVED PROPERTY)
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Date:
1. BUYER:
("Buyer") agrees
to buy the following property from the owner ("Seller") for the consideration and subject to the following terms, provisions, and
conditions:
2. PROPERTY:
The property ("Property") is known as
in County,
,
Indiana,
together with any existing permanent improvements and fixtures attached
(unless leased),
such as, but not limited to, electrical and/or gas
fixtures, home heating fuel, heating and central air-conditioning equipment and all attachments thereto, built-in kitchen equipment, sump
pump, water softener, water purifier, gas grills, fireplace inserts, gas logs and grates, central vacuum equipment, window shades/blinds,
curtain rods, drapery poles and fixtures, ceiling fans and light fixtures, towel racks and bars, storm doors, windows, awnings, TV antennas,
satellite dishes and controls, storage barns, all landscaping, mailbox, garage door opener with control(s) AND THE FOLLOWING:
The terms of this Agreement will determine what items are included/excluded. All items sold shall be fully paid for by Seller at
3. PRICE:
Buyer will pay the total purchase price of $
for the Property. If Buyer obtains an appraisal of the
4. EARNEST MONEY:
Buyer submits $
as earnest money which shall be applied to the purchase
price. The listing broker shall deposit earnest money received into its escrow account within two (2) banking days of acceptance of
this Agreement and hold it until time of closing the transaction or termination of this Agreement. If Buyer fails for any reason to
submit earnest money, Seller may terminate this Agreement. Earnest money shall be returned promptly in the event this offer
is not accepted. If this offer is accepted and Buyer fails or refuses to close the transaction, without legal cause, the earnest
money shall be retained by Seller for damages the Seller has or will incur, and Seller retains all rights to seek other legal and equitable
remedies. The Broker holding any earnest money is absolved from any responsibility to make payment to the Seller or Buyer
unless the parties enter into a Mutual Release or a Court issues an Order for payment, except as permitted in 876 IAC 1-1-23
5. METHOD OF PAYMENT: (Check appropriate paragraph letter)
A. CASH:
The entire purchase price shall be paid in cash and no financing is required.
B.
NEW MORTGAGE:
Completion of this transaction shall be contingent upon the Buyer's ability to obtain a
Conventional Insured Conventional FHA VA Other:
first
mortgage loan for % of purchase price, payable in not less than years, with an original rate of
interest not to exceed % per annum and not to exceed points. Buyer shall pay all costs of
obtaining financing, except
required to be made and charged to Buyer or Seller by the lender, FHA, VA, mortgage insurer, or closing agent, shall be made and
charged in accordance with their prevailing rules or regulations and shall supersede any provisions of this Agreement.
Listing Broker (Co.)
()By ( )
Selling Broker (Co.)
()By
(
)
office code
office code individual code
individual code
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Property, this Agreement is contingent upon the Property appraising at no less than the agreed upon purchase price.
Township,
time of closing the transaction. Buyer should verify total square footage, land, room dimensions or community amenities if
material.
(release of earnest money). Upon notification that Buyer or Seller intends not to perform, Broker holding the earnest money may release
the earnest money as provided in this Agreement. If no provision is made in this Agreement, Broker may send to Buyer and Seller notice
of the disbursement by certified mail. If neither Buyer nor Seller enters into a mutual release or initiates litigation within sixty (60) days of
the mailing date of the certified letter, Broker may release the earnest money to the party identified in the certified letter.
Buyer and Seller agree to hold the Broker harmless from any liability, including attorney's fees and costs, for good faith
disbursement of earnest money in accordance with this Agreement and licensing regulations.
.
55
(zip code) legally described as:
(Property Address)
Page 1 of 5 (Purchase Agreement)
CLOSING FEE, SURVEY AND TITLE INSURANCE COSTS ARE NOT INCLUDED ABOVE.
Any inspections and charges which are
Indiana Purchase Agreement (Improved Property) Form
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