The Cook Illinois Contract for the Sale and Purchase of Real Estate NowNo Broke— - Residential Lot or Land is a legally binding agreement designed specifically for real estate transactions in Cook County, Illinois, where no broker is involved. This contract sets out the terms and conditions under which a buyer purchases a residential lot or land from a seller, without the intermediary of a real estate agent. This contract consists of several essential elements that are crucial to document a successful transaction. It includes detailed information about the property being sold, such as the legal description, address, and size of the residential lot or land. The contract also outlines the purchase price agreed upon by both parties and establishes how the buyer will provide the necessary funds, whether it be a cash sale or through financing. Additionally, the contract covers important clauses related to the property's title, property taxes, and any existing liens or encumbrances that may affect the sale. It also addresses the distribution of closing costs between the buyer and seller, specifying who is responsible for paying various fees, such as title insurance, recording fees, or attorney fees. The Cook Illinois Contract for the Sale and Purchase of Real Estate NowNo Broke— - Residential Lot or Land may have various subtypes or variations, depending on the specific needs of the transaction. These variations could include addendums for contingency clauses, financing contingencies, or other conditions that must be met before the sale is finalized. It is important for both parties to thoroughly review this contract and seek legal advice if necessary to ensure their rights and obligations are adequately covered. This contract provides a comprehensive framework for conducting a real estate transaction in Cook County, Illinois, without the involvement of a real estate broker, benefiting both buyers and sellers alike.
Cook Illinois Contract for the Sale and Purchase of Real Estate - No Broker - Residential Lot or Land
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