What is the Illinois Residential Real Property Disclosure Act?

The Illinois Residential Real Property Disclosure Act Explained

The Illinois Residential Real Property Disclosure Act is intended to protect prospective home buyers by requiring sellers to provide a reliable representation of conditions throughout the home and property. In pursuit of that goal, the Act requires sellers to fully complete a form answering a number of questions about a wide range of conditions, from foundations to roofs and everything in-between. Importantly, sellers are required to complete the form and answer the questions even if the seller advertises and sells the home “as is.”

 

The Illinois Residential Real Property Disclosure Act Explained

If the seller fails to tender a completed form, the buyer may cancel the contract. Also, if the sale closes without the seller tendering or completing the form, the seller is automatically liable for violating the Act.

If a buyer moves into their home and finds that the seller did not disclose certain defects on the form, the buyer may file a lawsuit against the seller for violating the Act. However, in most situations the buyer must file the lawsuit within one year of purchasing the home.

If a buyer is successful in their lawsuit, the Act allows the recovery of actual damages. This means that buyers are generally entitled to recover reimbursements for costs of repair and money for damaged personal property. In addition, buyers are allowed to seek the recovery of court costs and attorney fees.

About Me . . .
Zach Anderson
Zach Anderson

I am a lawyer and partner at BRE Law. My practice is focused on representing individuals throughout Central Illinois who suffer physical, mental, and financial injuries.

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