Indiana Real Estate Contract & Forms for Selling Your Home
Selling a home in Indiana
Indiana is a state in the Midwest region that offers diversity. This “Land of the Indians” has six million residents and has only a few large urban areas and several smaller industrial cities. Indiana is renowned for the Indianapolis 500 American automobile race which takes place every year and the Fightin’ Irish Football of the University of Notre Dame.
Indiana continues to attract homeowners from other parts of the U.S. Not surprising because the capital, Indianapolis, has been named by Forbes Magazine as among the 10 best places to start a business or career while the Kiplinger’s survey ranked it as among the top 14 smart places to live in. The state’s housing market remains favorable and median home sale prices are seen to drop this 2007.
Real Estate Forms
Legal sales transactions always call for written documents such as contracts, titles and deeds. This is to protection the interest of the two parties involved. In the sale of a residential property, various forms are needed that may either be in standard format or specific in each state. Your lawyer is your best source for information on these documents.
Under Indiana state law, a seller is obliged to disclose all material defects of his or her property for sale to the buyer through a written form known as the residential property disclosure form. This form shall be given to all prospective buyers before any of them makes a purchase offer and forms part of the purchase agreement when signed by both the seller and the buyer.
For homes constructed before 1978, a lead based paint disclosure statement is required from the seller. The form should provide information on the use of lead paint in the house and its potential hazards. Along with the form, a lead paint pamphlet should also be provided. The pamphlet provided by the Environmental Protection Agency contains information on the hazards of lead paint and tips on controlling them.
An escrow agreement may be necessary to enable the seller and the buyer to choose the escrow agent who will hold the down payment or earnest deposit during the transaction. The agent can either be the seller’s attorney, the buyer’s agent or the title company.
Showing your home
How your home looks is a major factor considered by most buyers. Before marketing your property for sale, make sure that you make it neat and clean, inside and out for prospective buyers. It doesn’t really matter if it’s old as long as it is pleasing to the eye. You must know that buyers are very particular about cleanliness and space in a home and are discouraged when they see defects and clutter. Exert all effort then to make your home stand out from the other properties in your neighborhood.
Once you’re in the marketing process, make your house always available for potential buyers. This is to avoid buyers skipping your home if you can’t make it available for them during their scheduled visit. It may inconvenience you on certain occasions but then, you should prioritize your prospective buyers. After all, your main goal is to sell your home as soon as you can.
Advertise more by way of distributing brochures or leaflets in public places, using the web sites that offer free listing and spreading the word to your neighbors, friends and colleagues at work.
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