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CHICAGO TITLE INSURANCE COMPANY REAL ESTATE SALE CONTRACT ILLINOIS FORM B 1. Purchaser agrees to purchase at a price of on the terms set forth herein the following described real estate in County Illinois commonly known as and with approximate lot dimensions of x together with the following property presently located thereon 2. 4. Seller at his own expense agrees to furnish Purchaser a current plat of survey of the above real estate made and so certified by the surveyor as having been made in...
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How to fill out illinois real estate contract

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How to fill out an Illinois real estate contract?

01
Begin by carefully reading through the entire contract document. Familiarize yourself with the terms, conditions, and any specific instructions provided.
02
Gather all the necessary information and documentation required to complete the contract. This may include property details, buyer and seller information, financing details, and any additional provisions or contingencies.
03
Fill out the contract accurately and neatly, using legible handwriting or typing. Ensure that all sections and fields are properly completed, including dates, names, and signatures.
04
Pay specific attention to any special provisions or addenda that may apply to your transaction. These could include home inspection contingencies, financing contingencies, or specific terms negotiated between the buyer and seller.
05
Obtain all required signatures. The contract may need to be signed by both the buyer and seller, as well as any real estate agents or attorneys involved. Each signature should be accompanied by the date it was signed.
06
Consider having the contract reviewed by a real estate attorney before finalizing. A legal professional can ensure that the contract is in compliance with Illinois real estate laws and can provide valuable advice regarding any potential issues or concerns.
07
Keep copies of the completed contract for your records. It is important to have a copy for yourself, as well as any parties involved in the transaction.

Who needs an Illinois real estate contract?

01
Buyers: Individuals or entities looking to purchase real estate in Illinois will need a real estate contract. This contract serves as a legally binding agreement between the buyer and the seller, outlining the terms and conditions of the purchase.
02
Sellers: For individuals or entities selling a property in Illinois, a real estate contract is essential. It helps protect the seller's interests by specifying the terms of the sale, including the purchase price, payment terms, and any contingencies or provisions.
03
Real estate agents and brokers: Professionals in the real estate industry, such as agents and brokers, are involved in facilitating the buying and selling of properties. They play a crucial role in preparing and executing real estate contracts on behalf of their clients.
04
Attorneys: Real estate attorneys may be involved in reviewing, negotiating, and drafting real estate contracts. They provide legal expertise to ensure the terms of the contract are fair and lawful.
Overall, anyone engaged in a real estate transaction in Illinois, be it a buyer, seller, agent, or attorney, will typically need an Illinois real estate contract to document the details and agreements involved in the transaction.

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An Illinois real estate contract is a legal document used to document the terms of a real estate transaction between the buyer and seller of a specific property. It outlines the purchase price, legal description of the property, closing date, and other important information related to the transaction. It is important to have a real estate contract in place to protect both the buyer and seller in the event of a dispute or misunderstanding.
The buyer and seller of a real estate contract in Illinois are both required to file the contract with the county recorder's office.
On an Illinois real estate contract, the following information must be reported: the legal description of the property; the sale price; the amount of the earnest money deposit; the buyer's and seller's names and addresses; the buyer's and seller's real estate brokers' names, addresses, and license numbers; the closing date; the name of the title company; the name of the attorney handling the closing; and any contingencies to the sale.
To fill out an Illinois real estate contract, you'll need to follow these steps: 1. Obtain a copy of the Illinois real estate contract form: You can find this form on legal websites or through the Illinois Association of Realtors. 2. Read and understand the contract: Familiarize yourself with the terms and provisions of the contract to ensure you understand them fully. 3. Fill in the parties' information: Provide the names, addresses, and contact information for both the buyer and seller. 4. Include the property details: Fill in the address and legal description of the property being sold. This information can usually be found on the property's deed or previous sale agreement. 5. Specify the purchase price: Clearly state the agreed-upon purchase price in both numeric and written forms. 6. Indicate the earnest money deposit: Include the amount of earnest money the buyer is providing as a good faith gesture. This shows their commitment to purchasing the property. 7. Include any contingencies: If there are any contingencies to the sale, such as financing approval or a home inspection, clearly state those terms in the contract. 8. Specify the closing date: Determine the date by which the transaction should be finalized. 9. Disclose any additional terms or conditions: If there are any unique terms or conditions agreed upon between the buyer and seller, make sure to include them in the contract. 10. Sign and date the contract: Both the buyer and seller, their agents, and witnesses should sign and date the contract to make it legally binding. 11. Keep copies of the contract: Provide copies of the signed contract to all parties involved, and keep one for your records. Note: It is recommended to consult with a real estate attorney or a licensed real estate professional to ensure the contract is filled out correctly and complies with Illinois real estate laws.
The purpose of an Illinois real estate contract is to establish a legally binding agreement between a buyer and a seller for the purchase or sale of a property in the state of Illinois. It outlines the terms and conditions of the transaction, including the purchase price, closing date, financing arrangements, and any contingencies or special provisions. The contract protects the rights and interests of both parties and serves as a framework for the transaction to proceed smoothly and in compliance with state laws and regulations.
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