Indiana Purchase Agreement

This Residential Purchase and Sale Agreement (this "Agreement") is entered into as of [[Effective Date]] by and between [[Seller Full Legal Name(s)]] ("Seller") and [[Buyer Full Legal Name(s)]] ("Buyer"). Seller agrees to sell and Buyer agrees to purchase the Property described below on the terms and conditions set forth in this Agreement.

Under Indiana IC 32-21-5, the Seller's Residential Real Property Disclosure Statement (SRPDS) must be delivered to Buyer before Buyer signs a contract to purchase. Earnest money is governed by IC 32-21-1. Title work, closing, and recording are handled through a title company or closing agent. Standard contingencies include financing, appraisal, inspection, and sale of Buyer's existing home. Default remedies may include specific performance or retention of earnest money as liquidated damages. The deed must be recorded with the county recorder after closing.

All variable inputs are shown as `[[Token Name]]`. Statutory periods and required elements are written in full.

Property Address: [[Street Address]], [[City]], Indiana [[ZIP Code]]

Legal Description: [[Full Legal Description or "See Exhibit A attached"]]

Parcel / Tax ID: [[Parcel or Tax ID Number]], -

1. Parties

Seller: [[Seller Full Legal Name(s)]], whose address for notices under this Agreement is [[Seller Notice Address]].

Buyer: [[Buyer Full Legal Name(s)]], whose address for notices is [[Buyer Notice Address]]. Buyer shall take title as: [[Vesting, e.g., joint tenants with right of survivorship / tenants in common / as sole and separate property]]., -

2. Property

Seller agrees to sell and convey to Buyer the real property located at the address above, together with all improvements, fixtures, and appurtenances, subject to all easements, restrictions, and matters of record. Personal property included in the sale: [[List of Included Personal Property or "None additional"]]. Excluded items: [[List of Excluded Personal Property or "None"]]., -

3. Purchase Price and Earnest Money

The total Purchase Price is $[[Purchase Price Amount]] (in words: [[Purchase Price in Words]]).

Earnest Money Deposit of $[[Earnest Money Amount]] shall be deposited with [[Escrow Agent / Title Company Name]] within [[Earnest Money Deposit Deadline, e.g., three (3) business days]] after the Effective Date. The earnest money shall be held in a non-interest-bearing escrow account unless otherwise agreed. Per IC 32-21-1, the escrow agent holds funds pending closing or termination. Any interest earned belongs to [[Party Entitled to Interest or "the parties as agreed"]].

Additional deposit (if any): $[[Additional Deposit Amount, or "N/A"]]., -

4. Financing Contingency

This Agreement [[Is / Is Not]] contingent on Buyer obtaining financing.

If contingent:

• Loan type: [[Conventional / FHA / VA / USDA / Other]]

• Loan amount not to exceed: $[[Loan Amount]]

• Maximum interest rate: [[Max Interest Rate, e.g., 7.25%]]

• Loan commitment deadline: [[Financing Deadline Date]]

• Buyer shall apply for financing within [[Application Deadline, e.g., five (5) business days]] after Effective Date.

If Buyer is unable to obtain a commitment meeting the terms through no fault of Buyer, Buyer may terminate by written notice to Seller by the Financing Deadline and receive full refund of earnest money. Failure to give timely notice waives the contingency., -

5. Appraisal Contingency

This Agreement [[Is / Is Not]] contingent upon the Property appraising for at least the Purchase Price.

Buyer shall order the appraisal within [[Appraisal Order Deadline, e.g., seven (7) days]] after Effective Date. If appraised value is less than Purchase Price, Buyer shall notify Seller in writing by [[Appraisal Notice Deadline]] and may:

1. Terminate this Agreement and receive refund of earnest money.

2. Proceed to closing at the Purchase Price (waiving contingency).

3. Negotiate a price reduction. Seller has [[Seller Response Period, e.g., three (3) business days]] to respond. If no agreement, Buyer may terminate and recover earnest money.

Failure to deliver timely notice waives the appraisal contingency., -

6. Inspection and Due Diligence Period

Buyer shall have [[Inspection Period Length, e.g., ten (10) business days]] after the Effective Date ("Inspection Period") to conduct inspections of the Property at Buyer's expense, including but not limited to whole-house, roof, foundation, HVAC, electrical, plumbing, septic/well, radon, mold, and wood-destroying insect inspections.

Seller shall provide reasonable access. Buyer shall deliver written notice of any defects or desired repairs within the Inspection Period. Seller may:

1. Agree to repair or credit.

2. Negotiate.

3. Refuse.

If parties cannot agree within [[Negotiation Period, e.g., three (3) business days]] after Buyer's notice, either party may terminate and earnest money shall be returned to Buyer.

Buyer may also review HOA documents, surveys, flood determinations, and title during this period., -

7. Sale of Buyer's Existing Home Contingency (if applicable)

☐ Not applicable.

☐ This Agreement is contingent upon Buyer closing the sale of Buyer's current home at [[Buyer's Current Home Address]] by [[Buyer's Home Sale Deadline]].

If Buyer's home sale does not close by the deadline, Buyer may terminate and receive refund of earnest money. Buyer shall keep Seller reasonably informed of progress., -

8. Title and Title Insurance

Seller shall deliver marketable title free and clear of liens and encumbrances except for current taxes not yet due, easements and restrictions of record that do not materially affect use, and any other matters approved by Buyer in writing.

Title commitment shall be ordered within [[Title Order Deadline, e.g., five (5) business days]] after Effective Date. Buyer shall have [[Title Objection Deadline]] to object to title defects. Seller shall have [[Title Cure Period]] to cure objections. If uncured and material, Buyer may terminate and recover earnest money.

At closing, Seller shall provide owner's title insurance policy in the amount of the Purchase Price issued by [[Title Company]]., -

9. Closing and Possession

Closing shall occur on or before [[Closing Date]] at the offices of [[Closing Agent / Title Company]], or at such other place as the parties agree.

Possession shall be delivered to Buyer at closing [[or on [[Possession Date if different]] ]], in broom-clean condition, with all personal property removed except as agreed, and all keys, codes, and remotes delivered.

Prorations: Taxes, HOA dues, rents, and utilities shall be prorated as of the closing date on a [[calendar year / fiscal year]] basis. Security deposits (if any) shall be transferred to Buyer or credited at closing.

Deed: Seller shall execute and deliver a general warranty deed (or special warranty deed if customary) at closing. The deed shall be recorded promptly with the [[County Name]] County Recorder., -

10. Default and Remedies

If Buyer defaults, Seller may:

1. Terminate this Agreement and retain the earnest money as liquidated damages (not a penalty), which the parties agree is a reasonable estimate of Seller's damages; or

2. Pursue specific performance or other remedies available at law or in equity.

If Seller defaults, Buyer may:

1. Terminate and receive full refund of earnest money plus reimbursement of reasonable inspection costs up to [[Inspection Reimbursement Cap]]; or

2. Pursue specific performance or damages., -

11. Required Disclosures and SRPDS

Seller has delivered (or will deliver before contract signing) the Indiana Seller's Residential Real Property Disclosure Statement (SRPDS) as required by IC 32-21-5.

Buyer acknowledges receipt of the SRPDS: [[Yes, Date Received / To be delivered before signing]].

Federal lead-based paint disclosure (if pre-1978): Seller has provided required disclosures and pamphlet.

Other required disclosures: [[Flood, HOA, or other as applicable, list or "None additional"]]., -

12. Earnest Money Disposition on Termination

Upon termination of this Agreement for any reason permitted herein, the earnest money shall be disbursed as follows:

• If Buyer terminates within a contingency period or because of Seller default: full refund to Buyer.

• If Seller terminates because of Buyer default: earnest money to Seller as liquidated damages.

The escrow agent is authorized to disburse upon mutual written instruction or upon receipt of a court order. In case of dispute, the escrow agent may interplead the funds., -

13. Representations and Warranties

Seller represents that:

• Seller has the authority to sell the Property.

• There are no known pending or threatened actions that would prevent closing.

• The Property is not in violation of any law that would materially affect value or use, except as disclosed.

• All known material defects have been disclosed in the SRPDS.

Buyer represents that Buyer has had the opportunity to inspect and is purchasing based on Buyer's own investigation., -

14. Closing Costs and Prorations

Buyer shall pay: [[Buyer's Typical Closing Costs, e.g., lender fees, title premium for owner's policy if agreed, recording of deed, prorated taxes from closing forward]].

Seller shall pay: [[Seller's Typical Closing Costs, e.g., prorated taxes to closing, title search, transfer tax if applicable in Indiana, broker commissions per separate agreement]].

Any transfer tax, recording fees, or other costs shall be allocated per local custom and law in [[County]], Indiana., -

15. Default Remedies Detail and Liquidated Damages

The parties agree that in the event of Buyer default, Seller's actual damages would be difficult to ascertain and that retention of the earnest money deposit constitutes liquidated damages and not a penalty. This provision shall not limit Seller's right to pursue specific performance in appropriate circumstances., -

16. Exhibits

The following exhibits are attached and incorporated:

• Exhibit A: Legal Description (if not in body)

• Exhibit B: Personal Property List

• Exhibit C: Lead-Based Paint Disclosure (if pre-1978)

• Exhibit D: SRPDS (copy of delivered form), -

17. Miscellaneous

This Agreement constitutes the entire agreement. No modification shall be binding unless in writing signed by both parties. Severability: if any provision is held invalid, the remainder remains in effect. Governing Law: State of Indiana. Venue: [[County Name]] County, Indiana.

Notices: All notices shall be in writing and delivered by certified mail, overnight courier, or email with read receipt to the addresses above.

Time is of the essence., -

18. Signatures

SELLER:

_______________________________________________ Date: [[Effective Date]]

[[Seller Full Legal Name(s)]]

_______________________________________________ Date: [[Effective Date]]

[[Seller Full Legal Name(s)]]

BUYER:

_______________________________________________ Date: [[Effective Date]]

[[Buyer Full Legal Name(s)]]

_______________________________________________ Date: [[Effective Date]]

[[Buyer Full Legal Name(s)]], -

Template example, not professional (legal/financial/medical) advice. This purchase agreement incorporates standard contingencies and references Indiana IC 32-21-5 (SRPDS delivery), IC 32-21-1 (earnest money), and general real property law. All statutory periods, disclosure requirements, and remedies must be confirmed with current Indiana law and local custom at time of use. Consult an Indiana-licensed attorney. Recording of the deed after closing is required. Sources: IC 32-21-5, IC 32-21-1 (as of 2026).

> ⚠️ Template example, not professional (legal/financial/medical) advice. Figures and clauses must be verified for the applicable jurisdiction and kept current.