Illinois Real Estate Broker Exam — All Questions
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1 questions
Illinois Disclosures
The Illinois Residential Real Property Disclosure Act generally requires a seller of residential property to:
- a.Complete a written disclosure report of known material defects✓
- b.Provide a lender's appraisal to the buyer
- c.Guarantee the property is free of all defects
- d.Obtain a certificate of occupancy before listing
The Illinois Residential Real Property Disclosure Act requires sellers of most residential property to complete a disclosure report of known material defects. The seller discloses known conditions but does not guarantee the property is defect-free.