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Purchase & Sale Agreement - 9634 S Green Street, Chicago, IL 60643 - 9634 S Green St, Chicago, IL 60643.pdf

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DocuSign Envelope ID: 6C793927-48BA-4C79-99AD-48986F54B42B MULTI-BOARD RESIDENTIAL REAL ESTATE CONTRACT 7.0 1 1. THE PARTIES: Buyer and Seller are hereinafter referred to as the “Parties.” 2 Buyer Name(s) [PLEASE PRINT] Lofty Holding 9634 S Green Street LLC 3 Seller Name(s) [PLEASE PRINT] BIJAN AND ASHLEY NOORI 4 If Dual Agency applies, check here  and complete Optional Paragraph 29. 5 2. THE REAL ESTATE: Real Estate is defined as the property, all improvements, the fixtures and Personal Proper

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DocuSign Envelope ID: 6C793927-48BA-4C79-99AD-48986F54B42B

MULTI-BOARD RESIDENTIAL REAL ESTATE CONTRACT 7.0
1 1. THE PARTIES: Buyer and Seller are hereinafter referred to as the “Parties.”
2 Buyer Name(s) [PLEASE PRINT] Lofty Holding 9634 S Green Street LLC
3

Seller Name(s) [PLEASE PRINT] BIJAN AND ASHLEY NOORI

4 If Dual Agency applies, check here  and complete Optional Paragraph 29.
5 2. THE REAL ESTATE: Real Estate is defined as the property, all improvements, the fixtures and Personal Property

included therein. Seller agrees to convey to Buyer or to Buyer’s designated grantee, the Real Estate with
.115
7 approximate lot size or acreage of
commonly known as:
6

8 9634 S GREEN STREET, CHICAGO, ILLINOIS 60643 COOK
9 Address
Unit # (If applicable)

City

State

Zip

County

10 Permanent Index Number(s): 25082140320000

 Single Family Attached  Single Family Detached  Multi-Unit
11 If Designated Parking is Included: # of space(s) 1_______; identified as space(s) # ________; location GARAGE
____________
12

[CHECK TYPE]  deeded space, PIN: ________________________  limited common element  assigned space.

13 If Designated Storage is Included: # of space(s) ________; identified as space(s) # ________; location ____________
14

[CHECK TYPE]  deeded space, PIN: ________________________  limited common element  assigned space.

In Process

15 3. FIXTURES AND PERSONAL PROPERTY AT NO ADDED VALUE: All of the fixtures and included Personal Property

are owned by Seller and to Seller’s knowledge are in operating condition on Date of Acceptance, unless otherwise
17 stated herein. Seller agrees to transfer to Buyer all fixtures, all heating, electrical, plumbing, and well systems
18 together with the following items at no added value by Bill of Sale at Closing [CHECK OR ENUMERATE APPLICABLE ITEMS]:
16

19
20
21
22
23
24
25
26
27
28

__ Refrigerator
__ Oven/Range/Stove
__ Microwave
__ Dishwasher
__ Garbage Disposal
__ Trash Compactor
__ Washer
__ Dryer
__ Attached Gas Grill
__ Water Heater

__ Wine/Beverage Refrigerator
__ Sump Pump(s)
__ Water Softener (unless rented)
__ Central Air Conditioning
__ Central Humidifier
__ Central Vac & Equipment
__ All Tacked Down Carpeting
__ Existing Storms & Screens
__ Window Air Conditioner(s)
__ Ceiling Fan(s)

__ Light Fixtures, as they exist
__ Built-in or attached shelving
__ All Window Treatments & Hardware
__ Satellite Dish
__ Wall Mounted Brackets (AV/TV)
__ Security System(s) (unless rented)
__ Intercom System
__ Electronic or Media Air Filter(s)
__ Backup Generator System
__ Fireplace Screens/Doors/Grates

__ Fireplace Gas Log(s)
__ Smoke Detectors
__ Carbon Monoxide Detectors
__ Invisible Fence System, Collar & Box
__ Garage Door Opener(s)
with all Transmitters
__ Outdoor Shed
__ Outdoor Playset(s)
__ Planted Vegetation
__ Hardscape

29 Other Items Included at No Added Value:
30 Items Not Included:

Seller warrants to Buyer that all fixtures, systems and Personal Property included in this Contract shall be in
operating condition at Possession except:
.
33 A system or item shall be deemed to be in operating condition if it performs the function for which it is intended,
34 regardless of age, and does not constitute a threat to health or safety.
35 If Home Warranty applies, check here  and complete Optional Paragraph 32.
31
32

36 4. PURCHASE PRICE AND PAYMENT: The Purchase Price is $ 151,500
________________. After the payment of Earnest
38

Money as provided below, the balance of the Purchase Price, as adjusted by prorations, shall be paid at Closing in
“Good Funds” as defined by law.

39

a) CREDIT AT CLOSING: [IF APPLICABLE] Provided Buyer’s lender permits such credit to show on the final

37

41

settlement statement or lender’s closing disclosure, and if not, such lesser amount as the lender permits, Seller
agrees to credit $ ________________ to Buyer at Closing to be applied to prepaid expenses, closing costs or both.

42

b) EARNEST MONEY: Earnest Money of $ 1,000
________________ shall be tendered to Escrowee on or before 3
____

40

43
44

Business Days after Date of Acceptance. Additional Earnest Money, if any, of $ ________________ shall be tendered
by _______________
, 20
. Earnest Money shall be held in trust for the mutual benefit of the Parties by
Buyer Initial
Buyer Initial
Seller Initial
Address: 9634 S GREEN STREET, CHICAGO, ILLINOIS 60643 COOK
Page 1 of 13

Seller Initial
v7.0

DocuSign Envelope ID: 6C793927-48BA-4C79-99AD-48986F54B42B

45
46
47
48

[CHECK ONE]: X
 Seller’s Brokerage;  Buyer’s Brokerage;  As otherwise agreed by the Parties, as “Escrowee.”
In the event the Contract is declared null and void or is terminated, Earnest Money shall be disbursed pursuant to Paragraph 26.
c) BALANCE DUE AT CLOSING: The Balance Due at Closing shall be the Purchase Price, plus or minus
prorations, less Earnest Money paid, less any credits at Closing, and shall be payable in Good Funds at Closing.

ASAP
49 5. CLOSING: Closing shall be on ________________,
20 ____ or at such time as mutually agreed by the Parties in

writing. Closing shall take place at the escrow office of the title insurance company, its underwriter, or its issuing
51 agent that will issue the Owner’s Policy of Title Insurance, whichever is situated nearest the Real Estate.
50

52 6. POSSESSION: Unless otherwise provided in Optional Paragraph 35, Seller shall deliver possession to Buyer at

Closing. Possession shall be deemed to have been delivered when Seller and all occupants (if any) have vacated
54 the Real Estate and delivered keys to the Real Estate to Buyer or to the office of the Seller’s Brokerage.
53

55 7. FINANCING: [INITIAL ONLY ONE OF THE FOLLOWING SUBPARAGRAPHS a, b, or c]
56 ____ ____ ____ ____ a) LOAN CONTINGENCY: Not later than forty-five (45) days after Date of Acceptance or five

(5) Business Days prior to the date of Closing, whichever is earlier, (“Loan Contingency Date”) Buyer shall
58 provide written evidence from Buyer’s licensed lending institution confirming that Buyer has received loan
59 approval subject only to “at close” conditions, matters of title, survey, and matters within Buyer’s control for a loan
60 as follows: [ CHECK ONE ]  fixed;  adjustable; [ CHECK ONE ]  conventional;  FHA;  VA;  USDA;
61  other
loan for ____ % of the Purchase Price, plus private mortgage insurance (PMI),
62 if required, with an interest rate (initial rate if an adjustable rate mortgage used) not to exceed ____ % per annum,
63 amortized over not less than ____ years. Buyer shall pay discount points not to exceed ____ % of the loan amount.
64 Buyer shall pay origination fee(s), closing costs charged by lender, and title company escrow closing fees.
57

In Process

If Buyer, having applied for the loan specified above, is unable to provide such loan approval and serves Notice to
66 Seller not later than the Loan Contingency Date, this Contract shall be null and void. If Buyer is unable to provide
67 such written evidence not later than the date specified herein or by any extension date agreed to by the Parties,
68 Seller shall have the option of declaring this Contract terminated by giving Notice to Buyer. If prior to the Seller
69 serving such Notice to terminate, Buyer provides written evidence of such loan approval, this Contract shall remain
70 in full force and effect.
65

Upon the expiration of ten (10) Business Days after Date of Acceptance, if Buyer has failed to make a loan
72 application and pay all fees required for such application to proceed and the appraisal to be performed, Seller shall
73 have the option to declare this Contract terminated by giving Notice to Buyer not later than five (5) Business Days
74 thereafter or any extension thereof agreed to by the Parties in writing.
71

A Party causing delay in the loan approval process shall not have the right to terminate under this
76 subparagraph. In the event neither Party elects to declare this Contract terminated as specified above, or as
77 otherwise agreed, then this Contract shall continue in full force and effect without any loan contingencies.
75

Unless otherwise provided in Paragraph 30, this Contract is not contingent upon the sale and/or closing of
79 Buyer’s existing real estate. Buyer shall be deemed to have satisfied the financing conditions of this subparagraph
80 if Buyer obtains a loan approval in accordance with the terms of this subparagraph even though the loan is
81 conditioned on the sale and/or closing of Buyer’s existing real estate.
78

If Buyer is seeking FHA, VA, or USDA financing, required amendments and disclosures shall be attached to this
83 Contract. If VA, the Funding Fee, or if FHA, the Mortgage Insurance Premium (MIP), shall be paid by Buyer.
82

84 ____ ____ ____ ____ b) CASH TRANSACTION WITH NO MORTGAGE: [ALL CASH] If this selection is made, Buyer will pay

at Closing, in the form of “Good Funds,” the Balance Due at Closing. Buyer represents to Seller, as of the Date of Offer,
86 that Buyer has sufficient funds available to satisfy the provisions of this subparagraph. Buyer agrees to verify the above
87 representation upon the reasonable request of Seller and to authorize the disclosure of such financial information to
88 Seller, Seller’s attorney or Seller’s broker that may be reasonably necessary to prove the availability of sufficient funds
85

Buyer Initial
Buyer Initial
Seller Initial
Address: 9634 S GREEN STREET, CHICAGO, ILLINOIS 60643 COOK
Page 2 of 13

Seller Initial
v7.0