Right To Sell In Chicago

State:
Multi-State
City:
Chicago
Control #:
US-00440BG
Format:
Word
Instant download

Description

The Listing Agreement Granting a Broker or Realtor the Exclusive Right to Sell Commercial Property or Real Estate is designed to provide property owners in Chicago with a formal structure to engage a real estate broker. It grants the broker exclusive rights for a specified term to sell or exchange the property, detailed in the agreement. Key features include stipulations for the sales price, terms of sale, and evidence of title, requiring the owner to ensure marketable title through a warranty deed. Additionally, it defines the broker's compensation, stating the percentage commission owed upon sale under any terms agreed during the listing period. The form also protects the owner’s right to reject unacceptable offers while ensuring cooperation with the broker for successful marketing. It's particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants as it streamlines the selling process and clarifies legal obligations. The agreement ensures all parties understand their rights and responsibilities while providing a clear path for resolving disputes through attorney fees, if necessary.
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FAQ

In Illinois, most business are required to be registered and/or licensed by the IDOR. If you plan to hire employees, buy or sell products wholesale or retail, or manufacture goods, you must register with the IDOR. To obtain information contact: Illinois Department of Revenue.

The general number to the City Claims Unit is 312.744. 5650. Business hours are Monday thru Friday from 8 am to 5 pm. Throughout the claims process you may call or email the assigned claims file handler for a status update.

Hiring someone to help you is not legally required, but a real estate agent and a lawyer can help you avoid serious mistakes and get the most out of your home sale.

Application Requirements A separate license is required for each individual that is peddling or street performing. Street peddlers selling merchandise must be at least 16 years of age, and street performers must be at least 18 years of age. All street peddlers must obtain an Illinois Department of Revenue Account ID.

Chicago offers three types of licenses for street-vendor businesses; Peddler, Mobile Food Dispenser, and Park Concessions. Each one has distinct properties and procedures, which offer different advantages and disadvantages. Peddlers sell their items from a mobile wagon, cart, pack, or basket.

If you are planning a garage or yard sale in the City of Chicago you must have a permit. Residents are limited to 3 sales per year, with the third sale being a moving sale.

When you sign this Agreement, you grant that agent the exclusive right to market, list, and sell your home for a specified period, usually 2-6 months. This means a few important things: You cannot hire another broker or agent to sell your home during the contract term.

Ready to Apply? You may apply for a license online by visiting ChicagoBusinessDirect, or in person at the Small Business Center in City Hall, 121 N. LaSalle Street, Room 800. For general licensing inquiries, call (312) 74-GOBIZ/(312) 744-6249.

A Chicago business license is required to conduct, engage in, maintain, operate, or manage any business in the City of Chicago. However, there are business activities regulated by the State of Illinois that may be exempt from City licensing.

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Right To Sell In Chicago