This package contains the following forms:
1.) A Contract for Deed;
2.) Assignment of Contract for Deed by Seller;
3.) Notice of Assignment of Contract for Deed;
4.) Seller's Disclosure of Financing Terms;
5.) Seller's Annual Accounting;
6.) Notice of Default for Past Due Payments;
7.) Final Notice of Default for Past Due Payments;
8.) Notice of Intent to Enforce Forfeiture Proceedings;
9.) Final Notice of Intent to Enforce Forfeiture Proceeding and Request to Vacate;
10.) General Notice of Default; and
11.) Seller's Disclosure of Forfeiture Rights
Purchase this package and save up to 70% over purchasing the forms separately!
The Cook Illinois Contract for Deed Package refers to a comprehensive set of legal documents and contracts utilized in the real estate industry specifically for transactions involving the sale of properties in Cook County, Illinois, through a contract for deed arrangement. This package is designed to facilitate the smooth transfer of property ownership and ensure a legally binding agreement between the buyer and seller. The Cook Illinois Contract for Deed Package typically includes the following key documents: 1. Contract for Deed: This is the central document that outlines the terms and conditions of the sale agreement between the buyer (also known as the Vendée) and the seller (also known as the vendor). It includes details such as the purchase price, payment terms, interest rates, and the duration of the contract. 2. Promissory Note: This document sets out the payment schedule and details of the financing arrangement, including the interest rate, installment amounts, and due dates. 3. Disclosure Statement: This form ensures that the buyer is provided with all necessary information regarding the property, such as its condition, any liens or encumbrances, and potential risks. 4. Warranty Deed: This deed is executed by the seller to transfer legal ownership of the property to the buyer upon completion of the contract terms, usually after the final payment is made. 5. Affidavit of Title: This document certifies the current status of the property's title and ensures that there are no hidden legal issues or claims against it. 6. Closing Statement: This statement is prepared by the seller or their representative and provides details of the financial aspects of the transaction, such as the final purchase price, any credits or deductions, and the total amount due. It is important to note that the Cook Illinois Contract for Deed Package may have variations or additional forms depending on specific circumstances and preferences of the parties involved. These can include addenda to address unique terms, escrow agreements, or agreements for handling property maintenance and repairs during the period of the contract. In summary, the Cook Illinois Contract for Deed Package encompasses a comprehensive set of legal documents used in the purchase and sale of properties in Cook County, Illinois, using the contract for deed financing method. These documents ensure a legally binding agreement and facilitate the smooth transfer of property ownership between the buyer and the seller.
