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Some legal stuff to keep everyone protected

Seller Representations and Obligations. Seller represents and warrants as follows:
 

  • a. Seller is legally entitled to convey the Property and all improvements. Seller shall immediately inform Gates and Gables of any change or encumbrance to title of the Property including but not limited to any lis pendens or foreclosure, this obligation shall continue through closing. Seller shall immediately notify Gates and Gables on any missed mortgage payments during the Term.

  • b. SELLER UNDERSTANDS AND AGREES THAT IT IS ILLEGAL TO DISCRIMINATE AGAINST ANY PROSPECTIVE BUYER OR LESSEE ON THE BASIS OF RACE, AGE, COLOR, RELIGION, SEX, ANCESTRY, ORDER OF PROTECTION STATUS, GENDER IDENTITY, MARITAL STATUS, PHYSICAL OR MENTAL HANDICAP, FAMILIAL STATUS, PREGNANCY, NATIONAL ORIGIN, SEXUAL ORIENTATION, MILITARY STATUS, DISHONORABLE DISCHARGE FROM THE MILITARY SERVICE, ARREST RECORD, OR ANY OTHER CLASS PROTECTED BY THE ILLINOIS HUMAN RIGHTS ACT. THE PROPERTY WILL BE OFFERED TO ANY PERSON WITHOUT REGARD TO RACE, COLOR, RELIGION, SEX, HANDICAP, FAMILIAL STATUS, NATIONAL ORIGIN OR ANY OTHER FACTOR PROTECTED BY FEDERAL, STATE OR LOCAL LAW.

 

  • c. The Property is not listed with any other broker.

 

  • d. Gates and Gables is being engaged solely to provide the services attributable to the Selected Package.

 

  • e. Seller shall not advertise the Property as being available for sale at a price that is lower than the List Price.

 

  • f. Seller may display the provided Gates and Gables yard sign on the Property unless a yard sign is prohibited by any association or governing authority. Seller shall inform Gates and Gables of any rules or restrictions relating to yard signs by any association or governing authority. Seller shall be solely responsible for any fees or violations of the display of any yard sign by any association or governing authority. In the event that a yard sign is prohibited by any association or governing authority, Seller may elect to have a standard sign mailed to them at no additional costs and acknowledges that no reimbursements are provided for any prohibited professional and/or yard signs not permitted. Seller shall not display any other signage on the Property not approved by Gates and Gables.

 

  • g. For Seller provided photos, Seller personally took the photos to be included in the listing and use by Gates and Gables of such photos will not violate any other party’s intellectual property rights.

 

  • h. The information included in the Listing Agreement is true and correct to the best of Sellers knowledge.

 

  • i. The Packages offered do not include escrow services and Gates and Gables shall have no obligation to hold earnest money on behalf of Seller. Seller shall not accept any offer for the sale of the Property that obligates Gates and Gables to hold any earnest money. Seller shall not accept or hold any earnest money. Seller shall be solely responsible for arranging a qualified third party to accept and hold, any and all earnest money.

 

  • j. Seller shall provide Gates and Gables with a copy of any executed contract for the sale of the Property within twenty-four (24) hours of its execution by all parties.

 

  • k. Seller shall timely make all legally required disclosures, including all facts that materially affect the Property’s value and are not readily observable or known by the buyer.

 

  • l. If not included in the executed contract, Seller shall notify Gates and Gables of the name and phone number of the settlement agent or attorney upon receipt of the information.

 

  • m. Seller shall include Gates and Gables on all emails, correspondences, and documents relating to the real estate purchase of the Property up to Closing.

 

  • n. Seller shall provide Gates and Gables 5 days advance notice of any set closing date.

  • o. Seller shall provide Gates and Gables with a copy of the closing settlement statement (HUD1) within twenty-four (24) hours from the Closing Date.

Acknowledged
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