The Indiana Residential Real Estate Purchase Agreement (“Residential Purchase and Sale Agreement”) is a legally binding agreement between a buyer and seller on the purchase of homes. Until the date of the closing of the buyer`s offer, the seller may accept, negotiate or refuse the offer. Initially, the contract includes the agreement by which the seller accepts the sale and the buyer accepts the purchase of a property. The next section is the selling price. They indicate the amount of the purchase price, a new credit, serious money, cash at closing, taking charge of the loan, financing of sellers and a total amount. In this contract, you must describe the conditions of ownership: mechanical equipment, utilities, etc. The federal tax liability is also included in the contract. Here are the most important details…