Disclosures/Notices Usage

  • Amendment, Notice and Response Form

    1. Section 100 of the Amendment, Notice and Response Forms ("ANR Forms") should be used by a buyer to notify the seller that buyer cannot satisfy one of the contingencies under the purchase and sale contract prior to the contingency deadline set forth in such contract, and that the buyer would like to request an extension of the contingency deadline.
    2. Section 200 of the ANR Forms should be used only when a purchase and sale contract allows the seller to continually market the property until all contingencies of buyer are either satisfied or waived. Seller shall complete Section 200, after the expiration of the attorney review period and inspection contingency deadlines, as notice to the buyer that seller has accepted another bona fide offer for the property and buyer must elect to either: (i) waive any remaining contingencies under the contract or (ii) terminate the contract and receive a refund of buyer's earnest money.
    3. Section 300 of the ANR Forms should be used only when a purchase and sale contract contains a contingency for a contract providing for the sale of or the actual closing for the sale of buyer's real estate. Buyer should complete Section 300 to notify seller that buyer has either: (i) entered into a sale agreement for the sale of buyer's real estate or (ii) closed on the sale of buyer's real estate.
    4. Section 400 of the ANR Forms should be used by a buyer and seller when both parties desire to amend the date of closing or the possession date set forth in the purchase and sale contract.
    5. Section 500 of the ANR Forms should be used by a buyer or a seller when either party desires to revoke a written offer or counteroffer, as the case may be.

  • Disclosure of Information and Acknowledgement Lead-Based Paint and/or Lead Based Paint Hazards

    The Disclosure of Information and Acknowledgement of Lead-Based Paint and/or Lead-Based Paint Hazards should be executed by any seller and buyer of residential real estate. Both parties and their agents must complete, initial and execute this disclosure which addresses the known presence of, and records and reports pertaining to, lead-based paint and/or lead-based paint hazards.

  • Mold Disclosure Buyer & Seller

    The Mold Disclosure should be executed by a buyer and seller of residential real estate. The disclosure addresses whether there are any known mold conditions in, on or about the real estate, and whether mold conditions have been tested for and/or remediated.

  • Buyer's Mold Notice

    Seller should provide the Buyer's Mold Notice to any buyer of seller's real estate. Buyer shall execute the notice to acknowledge that buyer has been advised that the presence of certain kinds of mold, or conditions conducive to the growth of such mold, may adversely affect the real estate and that buyer should consider having the real estate inspected for mold or mold conditions during the inspection contingency period set forth in the purchase and sale contract.

  • Notice of Inability to Satisfy Contingency and/or Mutual Cancellation Agreement 4.0

    Buyer and seller should execute and deliver the Notice of Inability to Satisfy Contingency and/or Mutual Cancellation Agreement to terminate the purchase and sale contract and direct the escrow agent to return the earnest money to buyer if all of the following conditions are met: (i) buyer is unable to satisfy any of the contingencies under the purchase and sale contract; (ii) buyer has notified seller of buyer's inability to satisfy such contingency prior to the contingency deadline set forth in the purchase and sale contract; and (iii) seller will not agree to, or buyer has not requested, an extension of the contingency period.

  • Notice of Referral Fee

    The Notice of Referral Fee should be used when a client represented by a designated agent does not agree to dual agency, and such designated agent must refer the new potential client to an alternate designated agent for a referral fee. Per Section 10-10 of the Illinois Real Estate License Act of 2000 (225 ILCS 454/1 et seq.), the sponsoring broker must disclose the sponsoring broker's compensation and policy with regard to cooperating with brokers who represent other parties in a transaction.

  • Notice A - Mortgage Contingency Notification and/or Request For Extension

    This notice should be used by a buyer when buyer is unable to procure financing by the contingency deadline set forth in the purchase and sale contract. Buyer can elect to either: (i) terminate the contract and receive the earnest money deposit or (ii) request an extension of the contingency deadline.

  • Notice B - Authorization to Release Earnest Money

    This notice should be executed by a buyer and a seller when a purchase and sale contract is terminated and buyer is entitled to receive the earnest money. The broker can join in the execution of the notice waiting broker's right to any claim for commission.

  • Possession Escrow Agreement

    This Possession Escrow Agreement should be used by a buyer and seller of residential real estate when it is likely that seller may retain possession of the real estate after the closing date set forth in the real estate purchase and sale contract. The Possession Escrow Agreement provides that seller must set aside a certain amount of money in an escrow, which money shall be paid to buyer in the event that seller does not deliver possession of the real estate at closing. The Possession Escrow Agreement should be executed by the seller, buyer and escrowee.

  • Residential Real Property Disclosure Report

    This Residential Real Property Disclosure Report should be completed by the seller of any residential real estate to provide buyer with information with respect to any known material defects in the property. The Residential Real Property Disclosure Report is required with respect to certain purchase and sale transactions of residential real property pursuant to the Illinois Residential Real Property Disclosure Act (765 ILCS 77/1 et seq.).

  • Radon Pamphlet
  • Radon Disclosure

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