Cook Illinois Contract for the Sale and Purchase of Real Estate - No Broker - Commercial Lot or Land

• Category: Real Estate - Contracts - Land or Lots
• State: Multi-State
• County: Cook
• Control #: US-00472C
• Format: Word; Rich Text

Description

This form is a Contract for the Sale and Purchase of Commercial Real Estate. The form requires information such as: property condition, earnest money, taxes pro ration and utilities. The form provides that the seller has agreed to sell and the buyer will purchase the property described in the form. This contract also contains a contingency for purchase based upon the sale of another property owned by the buyer. The Cook Illinois Contract for the Sale and Purchase of Real Estate NowNo Broke— - Commercial Lot or Land is a legally binding document that outlines the terms and conditions for the sale and purchase of commercial real estate in Cook County, Illinois. This contract is specifically designed for commercial lots or lands and does not involve the services of a real estate broker. As an essential agreement in the real estate industry, the Cook Illinois Contract serves as a safeguard for both sellers and buyers, ensuring a transparent and fair transaction. It establishes the rights and responsibilities of all parties involved and helps minimize potential disputes by clearly defining the terms of the sale. Key elements included in the Cook Illinois Contract for the Sale and Purchase of Real Estate NowNo Broke— - Commercial Lot or Land may include: 1. Identification of Parties: The contract identifies the seller and buyer, including their names, addresses, and contact details. 2. Property Description: This section provides a detailed description of the commercial lot or land, including the address, parcel identification number, and any relevant zoning information. 3. Purchase Price and Payment Terms: The contract outlines the agreed-upon purchase price for the property and specifies the payment terms, including the amount of the down payment and the schedule for subsequent payments. 4. Financing Terms: If the buyer intends to obtain financing, this section defines the conditions, such as the timeline for securing a loan and the consequences if financing falls through. 5. Contingencies and Due Diligence: The contract may include clauses stating that the sale is contingent upon certain conditions, such as property inspections, obtaining appropriate permits, or environmental assessments. 6. Closing Process: This section outlines the closing process, including the date, time, and location of the closing meeting, as well as the distribution of closing costs, taxes, and any prorated expenses. 7. Title and Survey: The contract may require the seller to provide a clear and marketable title, ensuring that there are no liens, encumbrances, or legal issues attached to the property. It may also address the need for a survey to establish property boundaries. It's important to note that while there may be different versions or variations of the Cook Illinois Contract for the Sale and Purchase of Real Estate NowNo Broke— - Commercial Lot or Land available, they generally address the same essential aspects of the transaction. However, it is advisable for both parties to seek legal advice to ensure that the contract meets their specific requirements and protects their interests fully.

The Cook Illinois Contract for the Sale and Purchase of Real Estate NowNo Broke— - Commercial Lot or Land is a legally binding document that outlines the terms and conditions for the sale and purchase of commercial real estate in Cook County, Illinois. This contract is specifically designed for commercial lots or lands and does not involve the services of a real estate broker. As an essential agreement in the real estate industry, the Cook Illinois Contract serves as a safeguard for both sellers and buyers, ensuring a transparent and fair transaction. It establishes the rights and responsibilities of all parties involved and helps minimize potential disputes by clearly defining the terms of the sale. Key elements included in the Cook Illinois Contract for the Sale and Purchase of Real Estate NowNo Broke— - Commercial Lot or Land may include: 1. Identification of Parties: The contract identifies the seller and buyer, including their names, addresses, and contact details. 2. Property Description: This section provides a detailed description of the commercial lot or land, including the address, parcel identification number, and any relevant zoning information. 3. Purchase Price and Payment Terms: The contract outlines the agreed-upon purchase price for the property and specifies the payment terms, including the amount of the down payment and the schedule for subsequent payments. 4. Financing Terms: If the buyer intends to obtain financing, this section defines the conditions, such as the timeline for securing a loan and the consequences if financing falls through. 5. Contingencies and Due Diligence: The contract may include clauses stating that the sale is contingent upon certain conditions, such as property inspections, obtaining appropriate permits, or environmental assessments. 6. Closing Process: This section outlines the closing process, including the date, time, and location of the closing meeting, as well as the distribution of closing costs, taxes, and any prorated expenses. 7. Title and Survey: The contract may require the seller to provide a clear and marketable title, ensuring that there are no liens, encumbrances, or legal issues attached to the property. It may also address the need for a survey to establish property boundaries. It's important to note that while there may be different versions or variations of the Cook Illinois Contract for the Sale and Purchase of Real Estate NowNo Broke— - Commercial Lot or Land available, they generally address the same essential aspects of the transaction. However, it is advisable for both parties to seek legal advice to ensure that the contract meets their specific requirements and protects their interests fully.