CHI Realtor Association Condominium Sale Contract 2012-2025 free printable template

CHICAGO ASSOCIATION OF REALTORS CONDOMINIUM REAL ESTATE PURCHASE AND SALE CONTRACT including condominium townhomes and commercial condominiums Rev. 01/2012 1. Contract. This Condominium Real Estate Purchase and Sale Contract Contract is made by and between Buyer and Seller collectively Parties with respect to the purchase and sale of the real estate and improvements located at 2. Fixtures and Personal Property. At Closing as defined in Paragraph 7 of this Contract in addition to the Property...

How to fill out association realtors contract form

How to fill out CHI Realtor Association Condominium Sale Contract

1. Start with the title section, including the date and parties involved in the contract.
2. Fill in the property description, including the address and unit number.
3. Specify the sale price of the condominium.
4. Detail the earnest money deposit amount and terms.
5. Outline the contingencies, such as financing and inspection clauses.
6. Include the closing date and any conditions for closing.
7. Provide any disclosures required by law.
8. Ensure all signatures are gathered from the seller and buyer.
9. Review the contract for completeness before submission.

Who needs CHI Realtor Association Condominium Sale Contract?

1. Real estate agents and brokers involved in condominium sales.
2. Buyers looking to purchase a condominium.
3. Sellers intending to sell their condominium property.
4. Legal professionals reviewing or facilitating real estate transactions.

• Who needs a Condominium real estate contract?
• What is a Condominium real estate contract for?
• Is a Condominium real estate contract accompanied by other forms?
• • When is a Condominium real estate contract due?
  • How do I fill out a Condominium real estate contract?
  • What do I do with a Condominium real estate contract after its completion?

Who needs a Condominium real estate contract?

This form comes in very useful when you want to sell or buy a real estate in Chicago. The contract is signed by the buyer and the seller in the presence of their brokers and attorneys.

What is a Condominium real estate contract for?

This form is issued by the Chicago Association of realtors for purchasing and selling condominium real estate. The form is easy to complete and the whole procedure should take no more than 20 minutes. The contract has legal applicability and can be used in case disputes arise. This document stipulates the terms of selling the real estate as well as the purchase price, so it can be used for different purposes.

Is a Condominium real estate contract accompanied by other forms?

Before signing the contract, the parties must provide all required documents and notices on request.

When is a Condominium real estate contract due?

The seller and buyer make the contract once all issues have been discussed orally and both seller and buyer are ready to complete the sale.

How do I fill out a Condominium real estate contract?

This contract is usually filled out by a realtor and the signed by both parties. The seller and the buyer should be named. The realtor should also indicate the address of the property, the square footage of the property and parking place. If the seller transfers any personal property together with real estate, the realtor must check the appropriate boxes. The contract also determines the purchase price, the amount of Earnest Money, the terms of payment, real estate taxes and the closing date of the contract. The parties should also discuss the attorney modifications and inspection date and write it down in this contract. The contract also provides personal information about the buyer and the seller, their brokers and their attorneys. It should also be noted that each page of the contract must be initialed by both the buyer and the seller.

What do I do with a Condominium real estate contract after its completion?

The buyer and the seller should sign two copies of the contract and keep a copy for their personal records.

Video instructions and help with filling out and completing chicago association realtors purchase sale

Instructions and Help about chicago association purchase

This is Jeff O'Leary coming at you with another episode of keeping real estate real so what's included in an agreement of purchase and sale I'm going to go over the important key points in this video however if you're working with me or if you're working with another good realtor they will explain it in much more detail when you actually come to the time when you're working with them so first in agreement you're going to have the names of the buyer and the seller next you're going to have the address of the property in question along with the legal description on top of that the buyers going to put in how much they want to offer to pay for that home and also a deposit that they're going to pay if the agreement it's accepted there's also going to be the closing date that the buyer wants and again everything can be negotiated in this agreement, but this is how it looks and an irrevocable so in real estate when we do an offer it's almost like analogy of a basketball, so you get your offer you pass it to the other side when the other side gets it they only have three choices they can either accept it as it's written it within that your revocable time and the deal is done they can reject it and do nothing, so they don't do anything in that time expires the deals dead, or they can do what's very common make changes, so I don't like this price I'm going to change it to a different price every time there's a change made to a deal it's almost like a new offer being put back to the other party, so the seller may say I don't like the price of the home I'll change it send it back to the buyer now it becomes an offer from the seller to the buyer that's what irrevocable means also in the agreement our inclusion such as fixtures and chattels what's included so maybe the fridge and stove come with the deal, but the chandeliers excluded so all that's written in the agreement now the really important part of the agreement are the clauses in the schedule lay of the agreement this is where it goes through what's going to happen in the deal and any protection in place for the buyer or seller a good example is a lot of buyers will want a condition on financing to make sure they qualify for the home before they commit to buying the home another good condition would be a home inspection, so a lot of people want to get an inspection feel comfortable before the deal goes firm and binding there's a million different clauses you can do talk to your realtor and find the runt ones that are right for you, but I'm just going over what's included in an agreement of purchase and sale so there you have it I'm Jeff will are you talking about the agreement of purchase and sale if you have any questions about real estate feel free to call or email me keep it real estate real, and I'm out

People Also Ask about chicago purchase contract

How to buy condo in NYC?

Buying a Condo in NYC – Step-By-Step Guide 2023 Find Your Dream Home (1 to +4 Months) Prepare an Offer (1 to 2 days) Get an Accepted Offer (1 day to several weeks) Legal Contract Review and Due Diligence (3 to 7 days) Mortgage Process (30 to 45 days) Title Report & Title Insurance. Condo Board Application (If Applicable)

What are the risks of buying a condo?

The cons of buying a condo Fees. The luxurious amenities provided by condo complexes come at a cost to the residents. Condo association regulations. Choosing to live in a condo means you have to abide by community rules. Resale challenges. Lack of privacy. Delinquency. No land ownership. Limited storage.

What questions to ask when buying a condo?

Ask These Questions When Buying a Condo How Much Are the Fees? What Do the Condo Fees Cover? Are There Pet Restrictions? Do I Still Need to Purchase Insurance? What Are the Rules? Is There Any Pending Litigation? Are There Any Special Assessments Due or Coming Up? Can You Have a Grill on Your Deck?

Is it okay to buy pre-selling condo?

Besides having a sense of security and less maintenance to worry about, the purchase price of a condo is comparatively lower than a house and lot. This shows that condo investing, particularly pre-selling condos, is a good start for investors.

How to buy pre-selling condo?

Here's a list 8 useful tips when buying a pre-selling condo. Have Some Money for Down-payment. Choose Your Developer Wisely. Location Is King (Most of the Time) Get Financing Ready. Snoop Around. Read the Contract. Carefully Inspect the Display Home or Model Unit. Carefully Follow Market Conditions.

What questions should you ask when buying a condominium?

Ask These Questions When Buying a Condo How Much Are the Fees? What Do the Condo Fees Cover? Are There Pet Restrictions? Do I Still Need to Purchase Insurance? What Are the Rules? Is There Any Pending Litigation? Are There Any Special Assessments Due or Coming Up? Can You Have a Grill on Your Deck?

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What is CHI Realtor Association Condominium Sale Contract?

The CHI Realtor Association Condominium Sale Contract is a legal document used in real estate transactions to outline the terms and conditions under which a condominium unit is sold.

Who is required to file CHI Realtor Association Condominium Sale Contract?

Typically, real estate agents representing either the buyer or the seller, as well as the parties involved in the sale, are required to file the CHI Realtor Association Condominium Sale Contract.

How to fill out CHI Realtor Association Condominium Sale Contract?

To fill out the CHI Realtor Association Condominium Sale Contract, gather necessary details such as buyer and seller information, property description, purchase price, and any contingencies or special provisions, then complete each section of the contract as instructed.

What is the purpose of CHI Realtor Association Condominium Sale Contract?

The purpose of the CHI Realtor Association Condominium Sale Contract is to create a legally binding agreement between the buyer and seller that outlines the specifics of the condominium sale, protecting the rights of both parties.

What information must be reported on CHI Realtor Association Condominium Sale Contract?

The CHI Realtor Association Condominium Sale Contract must report information such as buyer and seller names, property address, sale price, financing details, contingencies, and closing date.