Under Illinois law, a real estate contract must include:
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Verbal agreement from both parties
A verbal agreement alone is legally insufficient to create an enforceable real estate contract in Illinois; oral real estate contracts are void under the Statute of Frauds (740 ILCS 80/2), no matter how clearly both parties express their intent.
The signatures of witnesses
Witness signatures are not a required element of a valid real estate contract in Illinois; while witnesses may be used in certain formal documents like deeds, they are not mandated for purchase contracts, and confusing this requirement with deed execution is a common error.
Written agreement with essential terms
Notarization
Notarization is not required for a real estate purchase contract to be valid and enforceable in Illinois; notarization is typically required for deeds that are to be recorded with the county recorder's office, not for the underlying purchase agreement itself.
Why is this correct?
Option C is correct because Illinois law under 740 ILCS 80/2 explicitly requires real estate contracts to be in writing and contain all essential terms, including the parties involved, the property description, the purchase price, and any material conditions of sale. Without these written essential terms, the contract is unenforceable in an Illinois court, regardless of what the parties may have verbally agreed upon. The written requirement protects both buyers and sellers by ensuring mutual understanding and providing an evidentiary record.
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