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Illinois Residential Purchase Agreement

An Illinois residential purchase agreement is a legally binding contract between the buyer and seller of a residential property. Provisions set forth in the agreement include pricing, financing, closing terms, inspections and surveys, property conditions, and more.
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Required Disclosures (4)

Lead-Based Paint Disclosure – A federally-required disclosure form that sellers must provide to potential buyers if their property was constructed before 1978.

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Property Disclosure Report – This disclosure form must be completed by the seller and provided to the buyer before a purchase and sale agreement is signed.[1] Neither party has the right to waive this step in the process of the sale.[2]

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Radon Testing Guidelines – The buyer is required to receive guidance on radon testing procedures.[3]

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Radon Hazards (Disclosure of Information) – Radon disclosure that must be completed by the seller.[3]

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