eSignature Legality for Rent to Own Agreement in India: Simplify Document Signing Process

How to eSign a document: eSignature legality for Rent to Own Agreement in India

[Music] an indiana residential purchase agreement is a legally binding contract between the buyer and seller of a home it lists all of the important terms of the transaction including the purchase price financing inspections and the rights and responsibilities of both parties in this video we'll cover how a residential purchase agreement works legal requirements in indiana and what you need to create one worry forms the biggest online database for legal documents stick around and we'll show you where you can find an official residential purchase agreement specific to indiana first let's review how does a residential purchase agreement exactly work the residential purchase agreement makes sure that both the buyer and the seller are on the same page with regard to all terms of the transaction the contract may also state any contingencies that must be met or either party has the right to terminate the contract it takes some negotiation between the buyer and the seller to be satisfied with all of the aspects of the contract once an agreement is met both parties sign the document making it legally bound this means that the agreement can only be terminated if both parties agree to it or if a legal requirement or contractual contingency is not met so what are the legal requirements in indiana in indiana the seller is legally required to fill out an official disclosure form that provides an all-encompassing overview of property conditions ranging from appliances and the electrical system to water and sewage if the house is part of a homeowner's association the seller must also provide a copy of all related documents to the buyer lastly under federal law the seller must disclose the property's history of lead-based pay and exposure if it was built before 1978. now that we know more about how a residential purchase agreement works and what is legally required here are some things that you should do to make sure the process goes soundly include a mortgage pre-approval letter a mortgage pre-approval letter is a document from the bank estimating how much it is willing to lend to the buyer based on their credit history income debts and assets this helps the seller determine whether the buyer is financially credible offer an earnest money deposit an earnest money deposit is a percentage of the offer and provided to the seller as a show of good faith it is written into the residential purchase agreement and typically delivered when the agreement is signed use an addendum to modify or add to the agreement an addendum is often included with a residential purchase agreement to add to or amend any terms and conditions it can also detail a contingency which allows either party to opt out of the contract if certain terms are not met if you're in need of an official indiana residential purchase agreement you can get started by clicking the link right here also hit that subscribe button for more videos that help simplify the legal process for everything ranging from buying or selling a house to making a will [Music]