When You Sell A Home

When you sell a home in Illinois, the law requires you to disclose any specific flaws, defects, or other problems, issues, or complications with the property. Disclosure shouldn’t be seen as an aggravation; yes, it protects buyers, but it also protects sellers from future lawsuits by guaranteeing that buyers know exactly what they’re getting. As a seller, full disclosure doesn’t mean that you are promising to repair anything or establish any other legal obligation; it is simply a “just the facts” report of the property’s condition. In any Chicago-area real estate transaction, have an experienced Chicago real estate lawyer help you with disclosure and protect your interests throughout the buying-and-selling process.

If you’re unsure about anything on a standard disclosure form, ask your real estate lawyer for help. Under Illinois law, harsh penalties may be imposed on anyone convicted of real estate fraud or misrepresentation. Disclosure regulations and standard disclosure forms generally address items such as roofing, plumbing, drainage, heating, and air conditioning. Lead paint, radon, asbestos, termites, foundation cracks, and similar problems must be disclosed along with any problems with the title or any other financial or legal concerns.

A good real estate lawyer can help you ensure that your disclosure is full and accurate. If it isn’t, you could conceivably be sued and found liable for the repair costs for any undisclosed defect along with legal fees and possibly even punitive damages. The sale and purchase of a home in Illinois is governed by a number of detailed and complicated laws and regulations. When you sell a home anywhere in the Chicago area, it’s best to work from the start with someone who will protect your interests: an experienced Chicago real estate lawyer. If you are selling a home or for now just thinking about it, make the call promptly.