Illinois Disclosures
Illinois requires specific disclosures in residential transactions to protect buyers. Licensees must ensure the correct forms are delivered on time.
Residential Real Property Disclosure Act
Sellers of most residential property must complete the Illinois Residential Real Property Disclosure Report identifying known material defects. The report is based on the seller's actual knowledge and does not guarantee condition. Failure to deliver it can give the buyer remedies including rescission in some cases.
Radon and Lead Disclosures
Illinois requires sellers to provide the Illinois Disclosure of Information on Radon Hazards pamphlet in residential transactions. Federal lead-based paint disclosure applies to pre-1978 housing. Agents should confirm all required pamphlets and forms are provided before closing.
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