An Illinois purchase agreement is a standard contract for selling real estate from one party to another. Provisions set forth in the agreement include pricing, financing, closing terms, inspections and surveys, property conditions, and more.A legal real estate contract must have the complete property description as stated in the documents at the County Recorder's Office in Illinois. Add the names, contact details, and addresses of the required parties. Seller shall also furnish Purchaser with: (i) an Affidavit of Title in customary form; (ii) a Bill of. Download an Illinois residential purchase agreement template to define buyer and seller obligations, financing, and inspections.