CONTRACTS
The Contract stage is very important to the entire process. If the Contract is properly prepared, your closing will go smoothly and both the Buyer and Seller will be happy and satisfied about the transaction they have concluded. The Contract MUST contain all of the agreements between the Seller and the Buyer. Nothing can be assumed, every last detail needs to be put in writing.

In addition to the contract, Illinois requires all sellers of residential real estate, of one to four dwelling units, to give to the purchaser prior to acceptance of a real estate purchase contract, a Residential Property Disclosure Statement, regarding the condition of the property, including any material defects know to the owner.

The condition and requirements of each type sale and loan differ and you should utilize and complete real estate contracts WITH CAUTION AND AT YOUR OWN RISK. It is wise to consult an experienced real estate closing attorney to assist you in preparing your Contract or at least reviewing it before signing it. All of your rights and liabilities are irrevocably established when the Contract is signed.

CLOSING
Local custom dictates how real estate closings are handled. In Illinois closings are handled by a title company or an attorney to handle the closing.

IT IS STRONGLY RECOMMENDED THAT YOU CONSULT LEGAL CONSUL OF YOUR OWN CHOOSING TO RENDER ASSISTANCE IN PREPARING OR REVIEWING THE SALES CONTRACT AND RECQUIRED DISCLOSURES AND TO GUIDE YOU STEP BY STEP THROUGH THE PROCESS OF BUYING OR SELLING.