09/02/2026
WHAT ARE ARTICLES OF AGREEMENT?
Articles of Agreement are an alternative way to buy or sell real estate where the seller finances the purchase instead of the buyer getting a traditional mortgage right away.
The buyer typically makes a down payment and monthly payments to the seller under an agreed-upon contract. Depending on the agreement, legal title may remain with the seller until the contract requirements are satisfied.
🔍 HOW DO YOU PROTECT YOURSELF?
Don’t treat Articles of Agreement like a handshake deal.
✔️ Have a real estate attorney review/draft the agreement
✔️ Verify title, liens & existing financing
✔️ Clearly define taxes, insurance, maintenance & repairs
✔️ Vet the buyer’s income, credit & ability to pay
✔️ Understand default remedies and any balloon/refinance deadline
✔️ Make sure the transaction complies with applicable Illinois law
Articles of Agreement can be a powerful tool when traditional financing doesn’t fit — but the structure of the deal matters just as much as the price.
📲 Thinking about buying or selling creatively? Let’s talk about the options — and bring the right attorney/lender into the conversation before signing anything.
- Barone Group!
