Our Oak Brook Attorneys can Draft your Real Estate Contract
Contrary to what most people think, you do not need a real estate agent to help you buy or sell a house. If a buyer and a seller are ready to come to an agreement on the sale of a residential real estate, our Oak Brook Real Estate Attorneys can draft the contract.
Our Oak Brook Real Estate Attorneys require the following information for our attorneys to draft your residential real estate contract:
Are there any existing contracts for the sale of this property which have not been cancelled or which are in dispute? YES / NO (Circle one)
Is this property a condominium, town home, single family home, or multi-unit building?_____________________________________________________________
Are there any existing leases or tenancies for the property? If yes, give details: Tenant(s) Name(s), address, amount of security deposit, amount of monthly rent, and whether the rent is current:______________________________________
Purchase Price: $_____________________
Address of property:__________________________________________________
How much will Buyer’s loan be?______________________________________
What type of loan? (i.e. Conventional, FHA, or VA)__________________________
What is the highest interest rate for a loan that the Buyer will accept? ____________
Number of years of loan (e.g. 30 years, 15 years, 5year Balloon, etc.) ________
Whose name(s) will appear on the mortgage?__________________________
Closing date: (This date cannot be earlier than 3-4 weeks, unless this is a cash deal and cannot occur on a weekend)_______________________________________
Will the Buyer agree to take property in its “as is” condition? YES / NO (Circle one)
Does the Buyer need to sell their current home in order to have the money to purchase this new home?YES / NO (Circle one)
Who is the Buyer’s Lender? (Lender name, Contact person, & Phone #)_______
Can the Buyer acquire from their Lender a pre-approval or pre-qualification letter? YES / NO (Circle one)
Can the Sellers give keys and possession of the property to Buyer at closing or do they need more time to move out after the closing date?____________________
What is the approximate lot size of the property?__________________________
If this property is a condominium, town home or is in a planned unit development where there is a homeowner’s association, then:
What is the monthly assessment amount?__________________________
b.Are there any special assessments? YES / NO (Circle one)
i.If yes, what are the special assessments for?______________________
If yes, what is/are the amount(s) of the special assessment(s)?
Please note that any outside agreements which are not written in the contract are unenforceable and not binding. Accordingly, are there any other terms to which the Parties verbally agreed that should be included in the Contract?
We recommend that you contact us to schedule an appointment with our Oak Brook Real Estate Attorneys at The Law Offices of Hoy & Sahlas, LLC. for advice about your individual situation.
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