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:

1. 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)

2. Is this property a condominium, town home, single family home, or multi-unit building?_____________________________________________________________

3. 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:______________________________________

4. Purchase Price: $_____________________

5. Earnest Money:$_____________________

6. Seller’s Name(s):__________________________________________________

7. Buyer’s Name(s):__________________________________________________

8. Address of property:__________________________________________________

9. How much will Buyer’s loan be?______________________________________

10. What type of loan? (i.e. Conventional, FHA, or VA)__________________________

11. What is the highest interest rate for a loan that the Buyer will accept? ____________

12. Number of years of loan (e.g. 30 years, 15 years, 5year Balloon, etc.) ________

13. Whose name(s) will appear on the mortgage?__________________________

14. Closing date: (This date cannot be earlier than 3-4 weeks, unless this is a cash deal and cannot occur on a weekend)_______________________________________

15. Will the Buyer agree to take property in its “as is” condition? YES / NO (Circle one)

16. Does the Buyer need to sell their current home in order to have the money to purchase this new home?YES / NO (Circle one)

17. Who is the Buyer’s Lender? (Lender name, Contact person, & Phone #)_______

18. Can the Buyer acquire from their Lender a pre-approval or pre-qualification letter? YES / NO (Circle one)

19. 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?____________________

20. What is the approximate lot size of the property?__________________________

21. If this property is a condominium, town home or is in a planned unit development where there is a homeowner’s association, then:

    1. What is the monthly assessment amount?__________________________

    2. b.Are there any special assessments? YES / NO (Circle one)

       1. i.If yes, what are the special assessments for?______________________

       2. If yes, what is/are the amount(s) of the special assessment(s)?

          1. 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?

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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.

If you have questions about the application of the law in a particular case, consult your lawyer. The law is constantly changing. Information on this site or any site to which we link does not constitute legal advice.