notice to quit/ contract sale

[masaillini]

What is the name of your state? Iliinois.
We purchased a home on a contract sale ,and we previously started too fall behind on our payments due to layoff. We received a NOTICE TO QUIT. How much time do we have to move or sell the property on the open market?. We recieved the notice at the end of may 2002.

 

[HomeGuru]

What is the name of your state? Iliinois.
We purchased a home on a contract sale ,and we previously started too fall behind on our payments due to layoff. We received a NOTICE TO QUIT. How much time do we have to move or sell the property on the open market?. We recieved the notice at the end of may 2002.

**A: what does your contract documents state? What does your notice to quit state?
In general, the Seller may elect to terminate the contract and take possession of the property in the event of default by Buyer.
Seller may have to file foreclosure against the Buyer.