Hendricks County Installment Contract for Sale of Real Estate Form (Indiana)

All Hendricks County specific forms and documents listed below are included in your immediate download package:

Installment Contract for Sale of Real Estate Form

Hendricks County Installment Contract for Sale of Real Estate Form

Fill in the blank Installment Contract for Sale of Real Estate form formatted to comply with all Indiana recording and content requirements.
Included Hendricks County compliant document last validated/updated 8/29/2024

Installment Contract for Sale of Real Estate Guide

Hendricks County Installment Contract for Sale of Real Estate Guide

Line by line guide explaining every blank on the Installment Contract for Sale of Real Estate form.
Included Hendricks County compliant document last validated/updated 9/3/2024

Completed Example of the Installment Contract for Sale of Real Estate Document

Hendricks County Completed Example of the Installment Contract for Sale of Real Estate Document

Example of a properly completed Indiana Installment Contract for Sale of Real Estate document for reference.
Included Hendricks County compliant document last validated/updated 10/22/2024

Annual Accounting Statement Form

Hendricks County Annual Accounting Statement Form

Issue to Buyer(s) for fiscal year accounting reporting.
Included Hendricks County compliant document last validated/updated 9/23/2024

When using these Installment Contract for Sale of Real Estate forms, the subject real estate must be physically located in Hendricks County. The executed documents should then be recorded in the following office:

Hendricks County Recorder

355 S Washington St, Danville, Indiana 46122

Hours: Monday - Friday 8:00a.m. - 4:00p.m.

Phone: (317) 745-9224

Local jurisdictions located in Hendricks County include:

  • Amo
  • Avon
  • Brownsburg
  • Clayton
  • Danville
  • Lizton
  • North Salem
  • Pittsboro
  • Plainfield
  • Stilesville

How long does it take to get my forms?

Forms are available immediately after submitting payment.

How do I get my forms, are they emailed?

Immediately after you submit payment, the Hendricks County forms you order will be available for download directly from your account. You can then download the forms to your computer. If you do not already have an account, one will be created for you as part of the order process, and your login details will be provided to you. If you encounter any issues accessing your forms, please reach out to our support team for assistance. Forms are NOT emailed to you.

What does "validated/updated" mean?

This indicates the most recent date when at least one of the following occurred:

  • Updated: The document was updated or changed to remain compliant.
  • Validated: The document was examined by an attorney or staff, or it was successfully recorded in Hendricks County using our eRecording service.
Are these forms guaranteed to be recordable in Hendricks County?

Yes. Our form blanks are guaranteed to meet or exceed all formatting requirements set forth by Hendricks County including margin requirements, content requirements, font and font size requirements.

Can the Installment Contract for Sale of Real Estate forms be re-used?

Yes. You can re-use the forms for your personal use. For example, if you have more than one property in Hendricks County that you need to transfer you would only need to order our forms once for all of your properties in Hendricks County.

What are supplemental forms?

Often when a deed is recorded, additional documents are required by Indiana or Hendricks County. These could be tax related, informational, or even as simple as a coversheet. Supplemental forms are provided for free with your order where available.

What type of files are the forms?

All of our Hendricks County Installment Contract for Sale of Real Estate forms are PDFs. You will need to have or get Adobe Reader to use our forms. Adobe Reader is free software that most computers already have installed.

Do I need any special software to use these forms?

You will need to have Adobe Reader installed on your computer to use our forms. Adobe Reader is free software that most computers already have installed.

Do I have to enter all of my property information online?

No. The blank forms are downloaded to your computer and you fill them out there, at your convenience.

Can I save the completed form, email it to someone?

Yes, you can save your deed form at any point with your information in it. The forms can also be emailed, blank or complete, as attachments.

Are there any recurring fees involved?

No. Nothing to cancel, no memberships, no recurring fees.

An "Installment Contract for Sale of Real Estate", also known as a Contract for Deed, Land Contract, or Contract for Sale) is a legal agreement/contract where the buyer makes payments directly to the seller in exchange for the right to use the property. The buyer receives the deed and full ownership of the property only after all payments have been made.

A land contract form can be used in Indiana when both the buyer and seller agree to an installment sale of real property, where the buyer makes payments directly to the seller over time, rather than obtaining a traditional mortgage from a bank. The seller retains the legal title to the property until the full purchase price is paid, at which point the title is transferred to the buyer. Here are some common scenarios where an INSTALLMENT CONTRACT FOR SALE OF REAL ESTATE might be used:
1. Buyer Lacks Access to Traditional Financing
Credit Challenges: The buyer may have difficulty qualifying for a traditional mortgage due to poor credit, insufficient credit history, or other financial issues.
Income Verification: The buyer may be self-employed or have income that is difficult to verify, making it harder to secure a conventional loan.

2. Seller Financing Preferences - Investment Strategy: The seller may prefer to finance the sale as an investment, earning interest over time instead of receiving the full purchase price upfront. Speed of Sale, a land contract can be an attractive option in a slow market, enabling the seller to reach a deal with a buyer who might not qualify for a traditional mortgage.

3. Flexible Terms - Custom Payment Arrangements: The buyer and seller can negotiate terms that suit their needs, such as the payment schedule, interest rate, down payment, and the duration of the contract. Possession Before Full Payment: The buyer can take possession of the property and start using it while making payments, even if they cannot pay the full purchase price upfront.

4. Buyer's Intent to Improve Property -Rehabilitation Projects: The buyer may intend to rehabilitate or improve the property before obtaining full financing. A land contract allows them to take possession and make improvements before completing the purchase.

5. Simplified Process - Reduced Costs: A land contract may reduce the costs associated with closing, as it often bypasses the need for a traditional lender and related fees.
Faster Execution: The process of negotiating and executing a land contract can be faster than obtaining a traditional mortgage.

6. Unique Property - Non-Conforming Properties: For properties that may not meet the standards required by traditional mortgage lenders (such as rural, unique, or non-conforming properties), a land contract can be a viable option.

7. Inter-Family Transactions - Family Agreements: A land contract can be useful in family transactions where a parent is selling a home to a child or another relative, offering a flexible payment arrangement that suits both parties.

Procedures for Using a Contract for Deed
1. Drafting the Contract:
The contract must include all essential terms: purchase price, payment schedule, interest rate, penalties for default, responsibilities for taxes and insurance, and the date when the deed will be transferred.

2. Indiana Code § 32-21-7 - Land Contracts
This statute outlines the requirements and procedures for recording land contracts. It requires that the contract be recorded in the recorder's office in the county where the property is located within 45 days after the contract is executed. The purpose of recording is to provide notice to third parties, thereby protecting the buyer's interest in the property.
Failure to record the contract can affect the enforceability of the buyer’s interest against third parties.

3. Payment and Maintenance:
The buyer makes monthly installment payments to the seller, who retains legal title until the contract is fully paid. (This contract allows for a Balloon payment). The buyer takes on responsibilities such as property taxes, insurance, and maintenance.

Terms and uses
1. TITLE AND TITLE INSURANCE. Seller shall provide Buyer with a standard form owner’s policy of title insurance in the amount of the purchase price. The title policy to be issued shall contain no exceptions other than those provided in said standard form plus encumbrances or defects approved by Buyer as provided below. As soon as reasonably possible after escrow is opened Buyer shall be furnished with a preliminary commitment. Said preliminary commitment shall include legible copies of all documents forming the basis for any special exception set forth. If Buyer chooses an extended owner’s policy, Buyer shall pay the difference in cost between the standard owner policy, and the extended owner’s policy.

2. DEED Of CONVEYANCE. Upon receipt of Buyer's payment in full of the balance of the purchase price, Seller shall furnish a General Warranty Deed, conveying to Buyer title to the property.

3. LATE CHARGE: Any above noted payment which is at least days past due, shall be subject to a late charge of $ And an additional $ per day until the payment is received. If any balloon payment is late, it shall be subject to a late fee of $ per day.

4. Uses include residential property, rental property up to 4 units, condominiums, and planned unit developments. Traditional installment payment with or without a balloon payment.

A contract for sale with stringent default terms can be beneficial to the seller.

Our Promise

The documents you receive here will meet, or exceed, the Hendricks County recording requirements for formatting. If there's an issue caused by our formatting, we'll make it right and refund your payment.

Save Time and Money

Get your Hendricks County Installment Contract for Sale of Real Estate form done right the first time with Deeds.com Uniform Conveyancing Blanks. At Deeds.com, we understand that your time and money are valuable resources, and we don't want you to face a penalty fee or rejection imposed by a county recorder for submitting nonstandard documents. We constantly review and update our forms to meet rapidly changing state and county recording requirements for roughly 3,500 counties and local jurisdictions.

4.8 out of 5 - ( 4420 Reviews )

Jimmy W.

November 1st, 2024

Very thorough with plenty of instructions. Nice to be able to fill in the forms on my computer at my own pace and edit if needed. Jim

Reply from Staff

We appreciate your business and value your feedback. Thank you. Have a wonderful day!

RUTH A.

October 25th, 2024

I am so very thankful for the service that you provide for the public, thank you very much.

Reply from Staff

We deeply appreciate the trust you have placed in our services. Thank you for your valuable feedback and for choosing us.

Nancy R.

October 25th, 2024

Deeds.com is very precise, helpful and friendly. I found the form I needed without any effort and everything worked perfect and smooth. I recommend it 100%. rnThank you.

Reply from Staff

We are delighted to have been of service. Thank you for the positive review!

Angela B.

September 19th, 2020

Great forms! Quick, easy, and to the point. The completed document, when printed out, looks really professional.

Reply from Staff

We appreciate your business and value your feedback. Thank you. Have a wonderful day!

Toni M.

June 24th, 2019

I liked having the forms. Some may need to know they can look at the legal Description from online county records, then type up in Word document line by line, the degree sign in Word program is achieved by using alt and 248 on number pad. Then on the form page one write SEE Exibit A and title your Word program description as Exibit A. Goes without saying the legal description should be looked over many times and it is easier to do so if you format your Word the same lineage as the legal description online which is usually not text which is why you have to retype it.

Reply from Staff

Thank you for your feedback. We really appreciate it. Have a great day!

Tammy C.

September 24th, 2020

Was very easy to use and i would recommend it

Reply from Staff

Thank you!

Susan K.

May 26th, 2022

First time using DEEDS.COM and very helpful with documents to fill out. I highly recommend this company for all your needs .Thank you.

Reply from Staff

We appreciate your business and value your feedback. Thank you. Have a wonderful day!

Judith C.

February 3rd, 2021

very happy so far. Haven't gone to record deeds yet so am in good hopes everything will be in good order. Time saver!!!

Reply from Staff

Thank you!

Jamie P.

July 28th, 2022

The forms are easy to download. Easy to fill out. The information on the site and on the web provided by Deeds.com have been immensely helpful.

Reply from Staff

Thank you!

Jim F.

April 9th, 2024

Site was easy to navigate and helped me to quickly locate the documents I was searching for. Thank you!

Reply from Staff

Your appreciative words mean the world to us. Thank you.

Stephen B.

August 21st, 2024

This was the first time to use the Deeds.com website for preparing my deed document. This was painless and easy to follow the instructions and sample package for filling in the blank boxes document. The city clerk was impressed to review my document and easily filed my deed record without questions. I would recommend anyone to prepare a legal form that is available from the Deeds.com website.

Reply from Staff

Your appreciative words mean the world to us. Thank you.

Karen V.

June 18th, 2021

It was a easy process to get the forms I needed.

Reply from Staff

We appreciate your business and value your feedback. Thank you. Have a wonderful day!

Jacqueline C.

August 15th, 2019

Was relieved to see your site actually delivered what I paid for.

Reply from Staff

Thank you!

Robert H.

May 14th, 2020

Excellent service and site. Easy to use. Finding the required forms was easy.

Reply from Staff

We appreciate your business and value your feedback. Thank you. Have a wonderful day!

KAREN I.

May 14th, 2024

it worked. fantastic. thanks!

Reply from Staff

Your insights are invaluable to us and help us strive for better service. Thank you for taking the time to share your thoughts.