Disclosure Law for Residential Real Estate Sellers in Illinois

Cynthia Miller, a Hinsdale, IL, attorney, handles commercial and residential real estate matters for clients in Naperville, Downers Grove, and Hinsdale. Possessing nearly two decades of experience, Cynthia Ann Miller of Hinsdale, IL, handles a wide range of real estate issues on behalf of buyers and sellers, including quiet title actions, leases, boundary disputes, and foreclosures.

In Illinois, residential real estate sellers are legally required to make certain disclosures to prospective buyers in writing, containing information about the safety, quality, and healthfulness of a property. Buyers are expected to provide such disclosures before a sales contract is signed to ensure the seller and buyer are on equal ground during negotiations. Since the purpose of these disclosures is to put buyers and sellers on equal ground only, they do not take the place of a warranty or inspection.

When filling out a disclosure form, buyers only need to list the issues of which they have personal knowledge. This may include the presence of lead paint, crime and death in the home, zoning changes, and structural issues. If the seller is unaware of any issues relating to the property, or they believe the issues have been properly corrected, they do not need to disclose the information to the buyer. 

Since the disclosure law only applies to known defects, an inspection is still essential for properly valuing a property. If a buyer suspects the seller fraudulently concealed a known defect that was revealed during the inspection or after the deal is closed, he or she can contract the seller and request the seller pay for the repairs. Buyers also can sue the seller for fraud, but must be able to prove the seller knew about and purposely hid a problem with a home.