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Thank you for joining Serena Brown of Taylor brown real estate talks, and today we're going to talk about Indiana purchase agreement the form that we have today been the purchase agreement this is one for the improved property and improved property is a property that has a home building or some type of structure on it there's a second type of purchase agreement and that's for unimproved property and quite naturally that is a property that has nothing on it is just vacant land first section of this purchase agreement is going to be putting down the listing broker and the agent that is representing listing broker the selling broker and the agent that's representing the selling broker next will be the date after that will be the buyers name and if you notice there is a comma here this is for two bars of his husband and wife brother and sister significant other and someone, but that's what the Commerce 442 specific buyers if there's just one then quite naturally you just put the one person's name there next will be the property where it says the property is known as that will be the address of the property next will be the township most properties are situated in a township, so that will be the township information once again the realtor is filling this out for you, so they will have the pertinent information to put here the county in which this property besides the city state and zip code the next part is the legal description the legal description is used by surveyors but what it does is give a map view of where the property is with coordinates if that is necessary lot size I could also give the lot of number all of this information can be getting from plat maps are documents that were used at a time that the property was built also section 11 through 17 talk about fixtures and things that come along with the property I if the property at the time that you see and had a chandelier in that home then quite naturally you should be expecting that chandelier to be there unless the contract or the thing tell you otherwise but things that are fixed to the property are things that you should be expecting in the home when you purchase it now quite naturally on the amount of foreclosed properties that are out here if it's not there when you see it is not going to be there when you purchase it because most of these properties are being bought as is if there are items that the seller is leaving that you do not want you can list that here where it says exclude the following next section is going to be the price that you want to pay for the property all properties have a list price that is considered by most relatives the asking price now to determine how much you would pay for property you and your Realtor would do a CMA comparative market analysis to see what the property is worth that are selling in the area, so the asking price may not be in line with what the purchase price is so your Realtor will be able to give you more information pertaining to that...

The Indiana purchase agreement solidifies the contractual bond between a seller and buyer participating in a real estate transaction for the sale of residential property.