As a real estate attorney and template designer with over 12 years of experience drafting Indiana-specific real estate contracts, I’ve helped hundreds of Hoosier homeowners and buyers successfully complete for-sale-by-owner (FSBO) transactions. One of the most searched topics I see every week is selling a house on contract in Indiana — also known as a land contract or contract for deed — and the need for a reliable, up-to-date Indiana purchase agreement PDF that complies with current Indiana law.
In this comprehensive guide, I’ll explain everything you need to know about buying a house on contract in Indiana, the differences between a traditional purchase agreement and a land contract, and — most importantly — provide you with a completely free, attorney-reviewed Indiana real estate purchase agreement template that you can download and customize today.
Important Disclaimer: This article and the free template are for informational purposes only and do not constitute legal advice. Always consult a licensed Indiana real estate attorney or title company before signing any binding contract. Laws can change, and your specific situation may require additional provisions.
In Indiana, “selling a house on contract” almost always refers to a land contract (also called a contract for deed or installment sale contract). Unlike a traditional sale with bank financing, the buyer makes monthly payments directly to the seller, and the seller retains legal title until the contract is paid in full or refinanced.
This arrangement is extremely popular in Indiana for:
According to the Indiana Code § 32-21 and § 24-4.4 (the Uniform Consumer Credit Code), land contracts are heavily regulated to protect both parties, especially the buyer who is making equitable payments toward ownership.
| Feature | Traditional Purchase Agreement + Mortgage | Indiana Land Contract (Contract for Deed) |
|---|---|---|
| Title Transfer | At closing | When contract is paid off |
| Who Holds Legal Title | Buyer immediately | Seller until final payment |
| Financing | Bank mortgage | Seller-financed |
| Foreclosure Process if Buyer Defaults | Judicial foreclosure (6-12+ months) | Forfeiture under IC 32-29-8 (as fast as 90 days) |
| Common Form Name | Indiana Realtors Purchase Agreement | Indiana Contract for Conditional Sale of Real Estate |
After reviewing dozens of outdated or incomplete forms online, I created two attorney-drafted, Indiana-specific templates that are 100% free for personal use:
These forms are updated for 2025 and include the latest required disclosures under Indiana Code § 32-21-5 (Seller’s Residential Real Estate Disclosure) and federal lead-based paint rules.
Whether you’re using the standard Indiana Association of Realtors purchase agreement or creating your own FSBO version, Indiana law requires certain provisions:
Cost: $200–$400. Confirms you own the property free and clear (or discloses existing liens).
Required by IC 32-21-5. Download the official form from the Indiana Business and Consumer site or use the version included in my template bundle.
Most Indiana land contracts use:
Record a short “Memorandum of Land Contract” at the county recorder’s office ($25–$50) to protect the buyer from your future creditors.
Use a third-party servicer (e.g., LoanCare, Note Servicing Center) for ~$15–$25/month or collect directly (but keep perfect records).
Source: Indiana General Assembly & CFPB.gov
| Pros for Seller | Cons for Seller |
|---|---|
| Higher sale price & interest income | Buyer could damage property |
| Faster closing, no bank delays | Still responsible for liens until paid off |
| Tax benefits (installment sale reporting – see IRS Pub 537) | Harder to force move-out if default |
| Pros for Buyer | Cons for Buyer |
|---|---|
| Easier qualification | No legal title until paid |
| Build equity over time | Risk of forfeiture if miss payments |
| Possible lower closing costs | May pay above-market interest |
Is the Indiana Association of Realtors purchase agreement mandatory?
No. It’s copyrighted and only members can use it, but FSBO sellers can create their own compliant contract.
Can I use a generic online purchase agreement for Indiana?
Not recommended. Many lack required Indiana disclosures and forfeiture clauses.
Do I need an attorney to sell on contract in Indiana?
Strongly recommended. A one-hour consult ($200–$400) can save thousands in disputes later.
Are land contracts recorded in Indiana?
The full contract usually isn’t, but a Memorandum should be recorded to protect the buyer.
Selling or buying a house on contract in Indiana can be a smart financial move — when done correctly. With the free Indiana purchase agreement PDF templates above, you have attorney-drafted, 2025-compliant forms that include both traditional and land contract options.
Download them, customize for your transaction, and always always have them reviewed by a local professional.
Need help customizing your contract or have a unique situation? Feel free to comment below — I answer questions daily from Indiana homeowners just like you.
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Best of luck with your Indiana real estate transaction!
This article was last updated November 2025. All forms comply with current Indiana and federal law as of publication date.