The Contract to Purchase Real Estate in Naperville

Contracts will vary slightly but all contracts to purchase involve much of the same information and essential provisions.

Your contract will include:

• Purchase price
• Address
• Legal description
• Contingency for financing, including interest rate, length of mortgage, and amount of mortgage
• Requirement that clear title be furnished by the seller as evidenced by a title insurance company commitment and policy
• Date of closing and date possession of the property is to be transferred
• Proration of taxes and other items able to be prorated
• Risk of loss prior to closing
• A list of appliances and personal property to be included with the real estate
• Provisions regarding the return of earnest money
• Remedies available to the parties in the event of a default
• Rights of inspection
• Survey requirements

The contract must be signed and dated. Any change, deletions or interlineations must be initialed.