AI Illinois Real Estate Forms & Disclosure Guide

> Illinois Real Estate Forms & Disclosure Guide: provide transaction type, property type, and role (buyer/seller/agent) and get a complete, jurisdiction-specific disclosure and forms guide in minutes, including the Illinois Residential Real Property Disclosure Statement (RRPDS, 765 ILCS 77), radon and lead-paint notices, smoke/CO detector requirements, HOA and condo disclosures, agency relationship rules, Illinois REALTORS® contract forms, the 5-business-day attorney review period, transfer tax obligations, and role-specific duties. Free AI workflow, no signup required to preview.

Inputs the user provides

• Transaction type (residential resale / new construction / condo / foreclosure / probate / vacant land)
• Property type (single-family / townhome / condo / multi-family / vacant land)
• Role (buyer / seller / listing agent / buyer's agent), -

Deliverable

Complete, ready-to-use output. Fill each `[[merge field]]`; tag invented values `[ASSUMPTION: …]`., -

PART 1, Illinois Disclosure Framework

1.1 The Illinois Residential Real Property Disclosure Act (765 ILCS 77)

Illinois requires residential sellers to complete a statutory disclosure form before the buyer is obligated under a contract. The governing statute is the Illinois Residential Real Property Disclosure Act, 765 ILCS 77/1 et seq., enacted to ensure buyers receive material information about property condition before committing to purchase.

> *"The purpose of this Act is to protect buyers of residential real property by requiring sellers to make disclosures of known material defects and other conditions."*, 765 ILCS 77/5

The seller's duty under the RRPDS:

• Disclosure is limited to conditions within the seller's actual knowledge, sellers are not required to inspect or investigate beyond what they personally know (765 ILCS 77/35)
• Seller must answer each question truthfully and completely
• If conditions change after the RRPDS is signed, seller must supplement the disclosure prior to closing
• Seller is not liable for errors or omissions in the disclosure if seller had no actual knowledge of the condition, but intentional concealment or fraud creates liability beyond the form

What must be disclosed:

What is NOT required to be disclosed:

• Death on property, Illinois has no statute requiring disclosure of a death, homicide, or suicide on the premises. However, sellers and agents should answer truthfully if directly asked.
• Sex offender proximity, Sellers are not required to proactively disclose the proximity of registered sex offenders. Buyers may search the Illinois State Police Sex Offender Registry at isp.illinois.gov. Under SORSA (730 ILCS 150/11-9), disclosure by agents is permissible but not mandated.
• Conditions of which seller has no actual knowledge, -

1.2 Illinois Residential Real Property Disclosure Statement (RRPDS)

Form: Illinois Residential Real Property Disclosure Statement (765 ILCS 77/35)
Who completes it: Seller (all parties to title)
When due: Before buyer is obligated under a contract for sale; typically attached as an addendum at the time of contract execution
Required by law: Yes, 765 ILCS 77/20 mandates delivery to buyer before buyer is bound, -

ILLINOIS RESIDENTIAL REAL PROPERTY DISCLOSURE STATEMENT

*(765 ILCS 77/35, Required for all covered residential real property transactions)*

Property Address: [[Street Address, City, Illinois, ZIP Code]]

Type of Property: [ ] Single-family [ ] Townhome [ ] Condo [ ] 2-flat [ ] 3-flat [ ] 4-flat [ ] Other: [[___]]

Year Built (approx.): [[Year]] | Current Owner Since: [[Year]]

Seller acknowledges a duty to supplement this disclosure if any response becomes inaccurate prior to closing., -

Section 1, Structural Components

1. Do you know of any defects/problems with the roof (including flashing, gutters, downspouts, skylights, or vents)?
[ ] Yes → [[Describe]] [ ] No [ ] N/A

2. Do you know of any defects/problems with the ceilings (interior or exterior)?
[ ] Yes → [[Describe]] [ ] No [ ] N/A

3. Do you know of any defects/problems with the exterior or interior walls?
[ ] Yes → [[Describe]] [ ] No [ ] N/A

4. Do you know of any defects/problems with the chimney(s) or fireplace(s)?
[ ] Yes → [[Describe]] [ ] No [ ] N/A

5. Do you know of any defects/problems with the windows or doors?
[ ] Yes → [[Describe]] [ ] No [ ] N/A

6. Do you know of any defects/problems with the foundation, slab, basement, or crawl space?
[ ] Yes → [[Describe]] [ ] No [ ] N/A

7. Do you know of any defects/problems with the driveway, sidewalks, or patio/deck?
[ ] Yes → [[Describe]] [ ] No [ ] N/A

8. Do you know of any unpermitted additions or alterations to the property?
[ ] Yes → [[Describe permit status]] [ ] No [ ] N/A

9. Are there any open or unresolved building code violations against the property?
[ ] Yes → [[Describe]] [ ] No [ ] Unknown, -

Section 2, Water / Moisture / Flooding

1. Do you know of any water seepage, leaks, flooding, or drainage problems affecting the property?
[ ] Yes → [[Describe location, frequency, remediation]] [ ] No

2. Has the property flooded or been inundated by surface or subsurface water in the past 10 years?
[ ] Yes → [[Describe date(s), source, extent of damage, remediation]] [ ] No

3. Do you know of any drainage or grading problems that cause water pooling?
[ ] Yes → [[Describe]] [ ] No

4. Does the property have a sump pump?
[ ] Yes, location: [[___]]; battery backup: [[Yes / No]] [ ] No

5. Does the property use a private well for drinking water?
[ ] Yes → Well depth: [[___]] ft; last tested: [[Date]]; potability: [[___]] [ ] No, Public water supply

6. Does the property use a private septic system?
[ ] Yes → System type: [[___]]; capacity: [[___]] gal; last pumped: [[Date]]; last inspected: [[Date]] [ ] No, Connected to public sewer

7. Do you know of any flooding or water intrusion in the basement or lowest level?
[ ] Yes → [[Describe]] [ ] No, -

Section 3, Mechanical Systems

1. Do you know of any defects/problems with the heating system?
[ ] Yes → [[Describe]] [ ] No

2. Do you know of any defects/problems with the central air conditioning?
[ ] Yes → [[Describe]] [ ] No [ ] N/A

3. Do you know of any defects/problems with the plumbing system (supply, waste, or sewage)?
[ ] Yes → [[Describe]] [ ] No

4. Do you know of any defects/problems with the electrical system?
[ ] Yes → [[Describe]] [ ] No

5. Are smoke detectors installed and working on each level of the residence?
[ ] Yes [ ] No → [[Explain]] *(See Section 2.3, Smoke Detector Compliance)*

6. Are carbon monoxide detectors installed per Illinois law?
[ ] Yes [ ] No → [[Explain]] *(See Section 2.3, CO Detector Compliance)*, -

Section 4, Environmental Hazards

1. Do you know of the presence of radon in the property?
[ ] Yes → Test result: [[___]] pCi/L; mitigation: [[Yes / No / Pending]] [ ] No [ ] Unknown *(See Section 2.1, Radon Disclosure)*

2. Do you know of the presence of asbestos in the property?
[ ] Yes → Location: [[___]]; condition: [[Intact / Damaged]]; abated: [[Yes / No]] [ ] No [ ] Unknown

3. Lead-based paint, property built before 1978?
[ ] Yes → See federal Lead-Based Paint Disclosure (Section 2.2) [ ] No, built 1978 or later

4. Do you know of any underground storage tanks (USTs), buried fuel tanks, or fuel lines on the property?
[ ] Yes → [[Describe, type, age, permits, removed/abandoned?]] [ ] No [ ] Unknown

5. Do you know of any environmental contamination or soil/groundwater pollution on or near the property?
[ ] Yes → [[Describe; IEPA record/citation if known]] [ ] No [ ] Unknown

6. Do you know of any methane or other soil gases affecting the property?
[ ] Yes → [[Describe]] [ ] No [ ] Unknown

7. Is the property located near a landfill, dump site, or industrial contamination source?
[ ] Yes → [[Describe]] [ ] No [ ] Unknown, -

Section 5, Legal / Title Conditions

1. Is the property currently subject to any legal proceedings, court orders, or pending condemnation?
[ ] Yes → [[Describe]] [ ] No

2. Are there any encroachments, boundary disputes, or easements affecting the property?
[ ] Yes → [[Describe]] [ ] No [ ] Unknown

3. Does the property have any zoning violations, nonconforming uses, or land-use restrictions beyond standard zoning?
[ ] Yes → [[Describe]] [ ] No [ ] Unknown

4. Is the property subject to any covenants, conditions, or restrictions (CC&Rs) that would affect buyer's use?
[ ] Yes → [[Describe]] [ ] No

5. Are there any unrecorded liens, claims, or mineral rights affecting the property?
[ ] Yes → [[Describe]] [ ] No [ ] Unknown

6. Is the property in a flood plain as designated by FEMA or a local floodway district?
[ ] Yes, FEMA Zone: [[A / AE / X / Shaded X / Other]] [ ] No [ ] Unknown *(See Section 2.6)*, -

Section 6, HOA / Condo / Shared Ownership

1. Is the property subject to a homeowners association (HOA) or condominium association?
[ ] Yes, Association name: [[___]]; monthly/annual dues: $[[___]] [ ] No

2. Are there any pending special assessments by the HOA or condo association?
[ ] Yes → [[Amount, purpose, start date]] [ ] No [ ] Unknown

3. Are there any violations of HOA/condo rules or covenants currently pending against this property?
[ ] Yes → [[Describe]] [ ] No [ ] Unknown

4. Is there any pending or threatened litigation involving the HOA or condo association?
[ ] Yes → [[Describe]] [ ] No [ ] Unknown, -

Section 7, Adjacent Land Use

1. Is the property affected by agricultural operations (noise, odors, dust, spray, farm equipment activity)?
[ ] Yes → [[Describe neighboring operations]] [ ] No
*Note: Under Illinois' Right to Farm Law (740 ILCS 70), agricultural operations conforming to good farming practices are protected from nuisance claims even if they commenced after the residential use.*, -

Seller's Certification

The undersigned Seller certifies that the information in this Residential Real Property Disclosure Statement is accurate and complete to the best of Seller's actual knowledge as of the date signed. Seller acknowledges the duty to supplement this disclosure if any information becomes inaccurate prior to closing.

Seller: _____________________________ Date: _____________________________

Seller: _____________________________ Date: _____________________________

Buyer's Acknowledgment of Receipt

Buyer acknowledges receipt of this Disclosure Statement prior to being bound by a contract for the purchase of the property.

Buyer: _____________________________ Date: _____________________________

Buyer: _____________________________ Date: _____________________________, -

PART 2, Mandatory Statutory Disclosures

2.1 Radon Gas Disclosure

Authority: Illinois Radon Awareness Act, 420 ILCS 46/25
Required on: All sales/transfers of residential property (defined as a building used or intended to be used as a residence by 1, 4 families)
Who provides: Seller must deliver the Illinois EPA radon disclosure pamphlet to buyer at or before signing any sales contract
Form: Illinois EPA Radon Pamphlet, "Radon: A Guide for Illinois Homebuyers and Sellers" (available at www2.illinois.gov/epa/topics/radon), -

ILLINOIS RADON DISCLOSURE

*(420 ILCS 46/25, Required for all covered residential transactions)*

1. Pamphlet Delivery:
Seller has delivered to Buyer the Illinois EPA pamphlet "Radon: A Guide for Illinois Homebuyers and Sellers" prior to execution of this contract.

Seller: _____________________________ Date: _____________________________

Buyer acknowledges receipt: _____________________________ Date: _____________________________

2. Known Radon Test Results (Seller's Disclosure): *(Check all that apply)*

- [ ] A radon test has been conducted at this property.
Most recent test result: [[___]] pCi/L | Test date: [[___]] | Test location: [[Basement / Lowest occupied level / Other: ___]]
Testing company/device: [[___]] | Mitigation system installed: [ ] Yes [ ] No

- [ ] A radon mitigation system is currently installed at this property.
System type: [[Active sub-slab depressurization / Other: ___]] | Installed: [[Date]] | Last inspected: [[Date]]
Post-mitigation test result: [[___]] pCi/L | Date: [[___]]

• [ ] No radon test has been conducted at this property to Seller's knowledge.

Practice Note: The EPA action level is 4.0 pCi/L. Illinois average indoor radon level is approximately 3.0 pCi/L, above the U.S. average. The Illinois Department of Public Health recommends testing all homes below the third floor. Mitigation systems typically cost $800, $2,500 and can reduce levels by up to 99%. Buyers should independently test or retain the right to test during the inspection period., -

2.2 Lead-Based Paint Disclosure (Federal, Pre-1978 Properties)

Authority: 42 U.S.C. § 4852d; 40 C.F.R. Part 745 (HUD/EPA)
Required on: All sales of residential property built BEFORE January 1, 1978
Exemptions: Foreclosure sales (HUD institutional seller certification available); housing for elderly or persons with disabilities (no children under 6); 0-bedroom studio units
Who provides: Seller (and listing agent must ensure compliance)
When due: Before buyer is obligated under contract; buyer must receive 10-day inspection opportunity (waivable in writing), -

LEAD-BASED PAINT AND LEAD-BASED PAINT HAZARDS DISCLOSURE

*(Required for pre-1978 housing, omit entirely for properties built 1978 or later)*

Seller's Disclosure:

(a) Presence of lead-based paint and/or lead-based paint hazards: *(check one)*

• [ ] Seller has no knowledge of lead-based paint and/or lead-based paint hazards in the housing.

• [ ] Seller has knowledge of lead-based paint and/or lead-based paint hazards: [[Explain known hazard, location, and any remediation conducted]]

(b) Records and reports available to seller: *(check one)*

• [ ] Seller has no reports or records pertaining to lead-based paint and/or hazards in the housing.

• [ ] Seller has the following records/reports: [[List documents attached: XRF test, inspection report, risk assessment, remediation records, clearance certificate, etc.]]

Buyer's Acknowledgment:

(c) Buyer has received copies of all information listed in (b) above.

(d) Buyer has received the EPA pamphlet "Protect Your Family from Lead in Your Home" (or electronic equivalent).

(e) Buyer's inspection opportunity: *(check one)*

• [ ] Buyer has waived the opportunity to conduct a risk assessment or inspection for the presence of lead-based paint hazards.

• [ ] Buyer has 10 days (or [[agreed number]] days) to conduct a risk assessment or inspection at buyer's expense. This opportunity: [ ] has been exercised [ ] has not yet occurred.

Agent's Acknowledgment:

Listing Agent certifies that, to the best of their knowledge, Seller has complied with 42 U.S.C. § 4852d and that both Seller and Buyer have received required disclosures.

Seller: _____________________________ Date: _____________________________

Seller: _____________________________ Date: _____________________________

Buyer: _____________________________ Date: _____________________________

Buyer: _____________________________ Date: _____________________________

Listing Agent: _____________________________ Date: _____________________________

Buyer's Agent: _____________________________ Date: _____________________________, -

2.3 Smoke Detector and Carbon Monoxide Detector Compliance

Smoke Detector Authority: Illinois Smoke Detector Act, 430 ILCS 135
CO Detector Authority: Illinois Carbon Monoxide Alarm Detector Act, 430 ILCS 135/15-1 et seq.
Obligation at Sale: 765 ILCS 77/22, Seller must provide a working smoke detector certificate at or before closing

Smoke Detector Requirements (430 ILCS 135/5):

• At least one functioning smoke detector must be installed on each level of the residential unit (including basement), within 15 feet of every sleeping room
• Battery-operated or hardwired; interconnected hardwired detectors required for new construction
• Seller must deliver to buyer a signed Smoke Detector Certificate certifying detectors are installed and functioning

Carbon Monoxide Detector Requirements (430 ILCS 135/15-15):

CO detectors are required in all residential property that has:

• Any fuel-burning appliance (furnace, water heater, gas range, gas dryer)
• An attached garage
• A fireplace

CO detectors must be installed:

• Within 15 feet of every sleeping room
• On each level where a fuel-burning appliance is located, -

SMOKE DETECTOR AND CO DETECTOR COMPLIANCE CERTIFICATE

Property Address: [[Street Address, City, Illinois, ZIP Code]]

The undersigned Seller certifies as follows:

1. Smoke Detectors: Working smoke detectors are installed on each level of the residence, within 15 feet of every sleeping room, in compliance with 430 ILCS 135/5.
Number of detectors installed: [[___]] | Levels covered: [[List: Basement / First floor / Second floor / etc.]]

2. Carbon Monoxide Detectors: Working CO detectors are installed in compliance with 430 ILCS 135/15-15.
[ ] Required, CO detectors installed and functioning: Number: [[___]] | Locations: [[Describe]]
[ ] Not required, property has no fuel-burning appliances, no attached garage, and no fireplace

Seller: _____________________________ Date: _____________________________

Seller: _____________________________ Date: _____________________________

Buyer acknowledges receipt and condition: _____________________________ Date: _____________________________, -

2.4 Homeowners Association (HOA) Disclosure

Authority: Illinois Common Interest Community Association Act, 765 ILCS 160/1-5
Required on: All sales of residential property governed by a common interest community association
Who provides: Seller must provide the HOA resale disclosure package
Deadline: Seller must deliver the resale disclosure within 30 days of buyer's written request (765 ILCS 160/1-40)
Buyer's rescission right: Buyer may rescind within 5 business days of receiving all required HOA documents (765 ILCS 160/1-40(c))

Required HOA Disclosure Package:

1. [ ] Current declaration, bylaws, and rules/regulations of the association

2. [ ] Most recent HOA financial statements (current fiscal year)

3. [ ] Annual budget for current fiscal year

4. [ ] Statement of any outstanding assessments or liens against the unit/lot

5. [ ] Disclosure of pending or threatened litigation involving the association

6. [ ] Statement of any known pending special assessments

7. [ ] Contact information for the association and/or management company, -

HOA RESALE DISCLOSURE SUMMARY

As required by 765 ILCS 160/1-40, Seller provides the following summary. This summary does not substitute for reviewing all governing documents in full.

Buyer's 5-business-day rescission deadline: [[Date, 5 business days from receipt of all HOA documents]]

Buyer acknowledges receipt of HOA disclosure: _____________________________ Date: _____________________________, -

2.5 Condominium Disclosure

Authority: Illinois Condominium Property Act, 765 ILCS 605/22.1
Required on: All resale of condominium units
Who provides: Seller must deliver the condo resale disclosure package to buyer
Buyer's right to cancel: Buyer may cancel the contract within 5 business days after receiving the last required document (765 ILCS 605/22.1(a))

Required Condominium Resale Disclosure Package:

1. [ ] The Declaration, Bylaws, and any rules and regulations of the condominium association

2. [ ] The association's most recent audited financial statement (if available; or statement of receipts and expenditures if no audit required)

3. [ ] The current operating budget of the association

4. [ ] A statement of capital expenditures anticipated in the current and next two fiscal years

5. [ ] A statement of outstanding assessments or amounts owed by the seller to the association

6. [ ] A statement of any pending or anticipated special assessments

7. [ ] A statement of any pending suits or judgments against the association

8. [ ] A statement of insurance coverage maintained by the association (excluding unit owner's personal property)

9. [ ] A copy of the certificate of insurance or evidence of master policy

Condo Association Summary:

Buyer acknowledges receipt of condo documents: _____________________________ Date: _____________________________

Buyer's 5-business-day cancellation deadline: [[Date, 5 business days from receipt of last required document]], -

2.6 Flood and Floodplain Disclosure

Authority: 765 ILCS 77/35(b) (included in RRPDS); Illinois floodplain regulations (615 ILCS 5/18g); local ordinances
Required on: All residential sales, part of the standard RRPDS; specific floodplain notice often required by local ordinances
FEMA Flood Insurance Rate Maps: www.msc.fema.gov

Illinois has no single stand-alone flood disclosure statute equivalent to Florida's, but sellers must disclose:

1. Whether the property has ever flooded or been inundated by surface or subsurface water (required on RRPDS)

2. Whether the property is in a FEMA Special Flood Hazard Area (SFHA), Zone A (riverine/inland) or Zone AE/AO/AH, which triggers mandatory flood insurance for federally backed mortgages

3. Whether the property is subject to a local floodway or floodplain overlay district, many Illinois municipalities (notably Chicago and collar counties) have floodplain regulations more stringent than FEMA requirements

4. Whether seller has received flood insurance claim proceeds, material fact requiring disclosure, -

FLOOD AND FLOODPLAIN DISCLOSURE ADDENDUM

*(Use in addition to RRPDS Section 2 disclosures for properties in or near a FEMA SFHA)*

Property address: [[Street Address, City, Illinois, ZIP Code]]

1. Is the property located in a FEMA Special Flood Hazard Area?
[ ] Yes, Zone: [[A / AE / AO / AH / Other]] [ ] No, Zone: [[X / Shaded X / Other]] [ ] Unknown
FIRM Map Panel No.: [[___]] | Community No.: [[___]] | Verify at msc.fema.gov

2. Has the property been damaged by flooding in the past 10 years?
[ ] Yes, Date: [[___]]; cause: [[___]]; description: [[___]]; remediation: [[___]]
[ ] No

3. Has the seller received flood insurance claim proceeds for this property?
[ ] Yes, Claim date: [[___]]; insurer: [[___]]; amount: $[[___]]
[ ] No

4. Is there a currently active flood insurance policy on this property?
[ ] Yes, NFIP Policy No.: [[___]]; annual premium: $[[___]]; coverage: $[[___]]
[ ] Policy may be assumable, confirm with NFIP servicer
[ ] No

5. Is the property subject to any local floodway, floodplain overlay district, or stormwater ordinance restricting development?
[ ] Yes, [[Describe municipality/county requirement]] [ ] No [ ] Unknown

Seller: _____________________________ Date: _____________________________, -

2.7 Sex Offender Registry Notice

Authority: SORSA, Sex Offender Registration and Community Notification Act, 730 ILCS 150/11-9

Illinois does not require sellers or agents to proactively disclose the proximity of registered sex offenders. However:

• Agents may, and should upon direct inquiry, inform buyers that the Illinois State Police Sex Offender Registry is publicly available at isp.illinois.gov
• Agents must NOT withhold the existence of the public registry if asked
• Buyers should be encouraged to search the registry independently for any address they are seriously considering, -

PART 3, Agency Relationship Disclosure

Authority: Illinois Real Estate License Act of 2000, 225 ILCS 454/Article 15 (Sections 15-1 through 15-85)
Required on: All transactions in which a licensed broker represents a party
When due: Before providing brokerage services to a party; at or before the time the agency agreement is signed

3.1 Illinois Agency Relationship Framework

Illinois operates under a designated agency system. Key distinctions:

Illinois default: Designated agency. A brokerage that represents both parties must obtain written consent to dual agency before the conflict arises (225 ILCS 454/15-45)., -

3.2 Illinois Agency Disclosure Notice

Form: Illinois REALTORS® Agency Disclosure Notice (or equivalent compliant form)
Required when: Before providing brokerage services to any party, -

ILLINOIS AGENCY DISCLOSURE NOTICE

*(225 ILCS 454/15-25, Required prior to providing brokerage services)*

[[Brokerage Firm Name]] ("Brokerage"), License No. [[___]], acting through its designated agent [[Agent Name]], License No. [[___]], discloses its agency relationship to you.

You are being represented as: [ ] Seller's Agent [ ] Buyer's Agent [ ] Dual Agent [ ] Transaction Broker / Non-Agent

As your Designated Agent (Seller's or Buyer's), your agent owes you the following fiduciary duties (225 ILCS 454/15-15):

1. Promoting your best interests

2. Disclosing material facts known to your agent that could affect your decision, including any material defects in the property, whether the listing price is appropriate, or what the buyer may be willing to pay

3. Maintaining your confidentiality (your negotiating position, financial information, and motivation for buying or selling)

4. Accounting for all funds received

5. Exercising reasonable skill and care in performing brokerage services

6. Complying with all applicable laws

Duties owed to ALL parties regardless of agency:
- Providing accurate information about the property and transaction
- Accounting for all money or property received
- Disclosing to all parties any material facts about the property of which the agent has knowledge

[ ] Client acknowledges receipt of this Agency Disclosure Notice and consents to representation as indicated above.

Client: _____________________________ Date: _____________________________, -

3.3 Dual Agency / Designated Dual Agency Disclosure and Consent

Form: Illinois REALTORS® Dual Agency Consent Agreement
Required when: The same brokerage represents both buyer and seller in the same transaction
Must be obtained: Before the conflict of interest arises, i.e., before the brokerage becomes aware that both parties are clients in the same transaction, -

DUAL AGENCY DISCLOSURE AND CONSENT

*(225 ILCS 454/15-45, Written consent required before dual agency may proceed)*

[[Brokerage Firm Name]] ("Brokerage") has disclosed to you that a situation has arisen in which this Brokerage represents both [[Seller Name(s)]] ("Seller") and [[Buyer Name(s)]] ("Buyer") in connection with the property located at [[Property Address]].

What this means for you:

In dual agency, the Brokerage owes limited duties to each party. Specifically, the Brokerage WILL NOT:

• Disclose to the Buyer that the Seller will accept less than the list price without the Seller's consent
• Disclose to the Seller that the Buyer will pay more than the offered price without the Buyer's consent
• Disclose to either party information the other party has designated as confidential

The Brokerage WILL:

• Treat both parties honestly and impartially
• Maintain confidentiality of each party's negotiating position
• Account for all funds
• Facilitate the transaction with skill and care

Designated Dual Agency (if applicable): If the Brokerage designates different agents for Seller and Buyer:
- Agent for Seller: [[Agent Name]] | License No. [[___]]
- Agent for Buyer: [[Agent Name]] | License No. [[___]]

Each designated agent continues to owe full fiduciary duties to their respective client, provided they do not share confidential information with the other designated agent.

[ ] Seller consents to dual agency as described above.
Seller: _____________________________ Date: _____________________________

[ ] Buyer consents to dual agency as described above.
Buyer: _____________________________ Date: _____________________________, -

PART 4, Illinois Purchase Contract Forms

4.1 Illinois REALTORS® Residential Real Estate Purchase and Sale Contract

Form: Illinois REALTORS® Residential Real Estate Purchase and Sale Contract (current version)
Also common: Midwest Real Estate Data (MRED) / local Board of REALTORS® standard forms; attorney-drafted contracts for complex transactions
Best for: Residential arm's-length resale transactions

Key terms:

4.2 Illinois Attorney Review Period

This is a defining feature of Illinois real estate practice.

The standard Illinois REALTORS® contract provides that the contract is subject to attorney review for 5 business days from acceptance by all parties (sometimes referred to as the "attorney review period" or "modification period").

What happens during attorney review:

- Either party's attorney may:
(a) Approve the contract as written (no action required, silence does not disapprove)
(b) Disapprove the contract (must be in writing within the 5-business-day period; the contract is then void and earnest money returned)
(c) Propose modifications (written notice to other party's attorney; counter-modification practice proceeds until agreement or disapproval)

• If neither party's attorney disapproves or proposes modifications within 5 business days, the contract is deemed approved as written

Practical notes:

• The 5-business-day clock begins on the first business day following the day the signed contract is delivered to the accepting party
• Weekends and federal holidays do not count as business days
• Most experienced Illinois agents recommend buyers and sellers always retain a real estate attorney, attorney fees for standard residential closings typically range from $500 to $1,200
• Complex transactions (estate sales, short sales, distressed properties) almost always require attorney involvement beyond attorney review, -

4.3 Real Estate Transfer Tax and Closing Costs

Authority: Illinois Real Estate Transfer Tax Law, 765 ILCS 120; Illinois Property Transfer Declaration (PTAX-203)

Transfer Tax Rates (Statewide):

Chicago Transfer Tax (Chicago Municipal Code § 3-33):

Note: Chicago buyers pay significantly higher transfer tax than sellers. The buyer's $7.50 per $1,000 combined with the state/county means Chicago residential buyers pay $8.25 per $1,000 ($8.25 per $1,000 total: $0.50 state + $0.25 county + $7.50 city). Sellers pay $4.75 per $1,000 ($0.50 state + $0.25 county + $3.00 city transfer tax, excluding mansion tax surcharge if applicable).

Illinois Property Transfer Declaration (PTAX-203):
Required for every real property transfer (except exempt transactions). Filed at county recorder's office at or before recording of the deed. Exempt transactions require PTAX-203-B (Exempt transaction certificate).

Typical Illinois Closing Costs Summary:

Illinois Property Tax Proration Note:
Illinois property taxes are paid in arrears, the current year's taxes are paid in the following year. Sellers typically credit the buyer at closing for the period of the year the seller owned the property, based on 100, 110% of the prior year's tax bill, with the buyer responsible for paying the actual bill when due. This can be a significant credit in high-tax Illinois municipalities. Verify the current tax amount via the county assessor's office before closing.

Transfer Tax Calculation Examples (statewide rate, excluding municipal):

PART 5, Seller Financing and Transfer Fee Disclosures

5.1 Owner / Seller Financing, When Used

Seller financing (purchase money mortgage or installment contract/contract for deed) is used when:
- Buyer cannot qualify for conventional financing
- Seller seeks installment sale tax treatment (IRS § 453)
- Investor-to-investor or land-contract transactions
- Bridge or creative financing structures

5.2 Illinois Contract for Deed (Land Contract), Key Disclosures

Under an Illinois Contract for Deed (also called an installment land contract), the buyer takes possession but the seller retains legal title until the contract is paid in full. The buyer receives equitable title only.

Illinois Contract for Deed Disclosure Requirements (765 ILCS 80/1):

Before execution of a contract for deed on residential property, seller must provide buyer a written notice stating:

> *"NOTICE: THIS IS NOT A DEED. Under this contract, you (the Buyer) are purchasing only the equitable title to the property. You will not receive the deed transferring legal title until all payments under this contract have been made. You may lose all money paid under this contract and all rights in the property if you default. You are advised to seek legal counsel before entering into this contract."*

Balloon Payment Disclosure (if applicable):

> *THIS CONTRACT CONTAINS A BALLOON PAYMENT. THE ENTIRE UNPAID BALANCE OF $[[Amount]] IS DUE ON [[Date]]. BUYER IS ADVISED TO OBTAIN INDEPENDENT LEGAL ADVICE REGARDING THIS OBLIGATION BEFORE SIGNING.*

Owner Financing / Mortgage Terms Summary:

5.3 Transfer Fee / Private Transfer Tax Disclosures

Illinois does not have a statute broadly voiding private transfer fee covenants (unlike Florida or some other states). Sellers must disclose any recorded covenant or restriction requiring payment of a fee upon future sale:

• [ ] Property is subject to a recorded private transfer fee covenant: Amount: $[[___]] or [[___]]% of sale price; recorded in [[County]] County, Document No. [[___]]; expiration: [[Date / Perpetual]]

• [ ] No private transfer fee covenant recorded against this property

*Note: HOA and condo resale/transfer fees charged at closing are separately authorized by the association's governing documents and are distinct from private transfer fee covenants, disclose amounts per Section 2.4/2.5.*, -

PART 6, Exemptions from Disclosure Obligations

6.1 Statutory Exemptions (765 ILCS 77/15)

The Illinois Residential Real Property Disclosure Act does NOT apply to transfers of residential real property under the following circumstances:

1. Transfers pursuant to court order, including judicial sales under foreclosure, execution, or eminent domain; sales by a trustee in bankruptcy; condemnation proceedings

2. Transfers between co-owners, where all owners consent

3. Transfers to a spouse or persons in lineal consanguinity, parent to child, grandparent to grandchild, etc.

4. Transfers by a fiduciary in the course of administration, executor, administrator, guardian, conservator, or trustee of an estate, guardianship, conservatorship, or trust, where the fiduciary has no personal knowledge of the property's condition

5. Transfers of newly constructed residential real property that has never been used for residential purposes, new construction on a lot not previously used as a home

6. Transfers made as a gift without any consideration

7. Transfers involving relocation companies acting as a principal in a sale where the relocation company acquired the property from an employee being relocated

8. Transfers between spouses resulting from a marital settlement agreement

Important: Even when the RRPDS is not required, sellers and their agents still have common-law and statutory duties to avoid fraud and misrepresentation. Known material defects must not be concealed. Federal Lead-Based Paint disclosure is still required for pre-1978 properties even when exempt from the RRPDS., -

6.2 Probate / Estate Sales

Authority: Illinois Probate Act of 1975, 755 ILCS 5 et seq.

• A personal representative (PR) or executor selling estate property typically has limited personal knowledge of the property's condition
• PR may sell with limited or no representations about condition, relying on the statutory fiduciary exemption from the RRPDS (765 ILCS 77/15(d))
• Required disclosures that still apply:
• Lead-Based Paint (42 U.S.C. § 4852d), estate/PR must comply for pre-1978 properties; HUD provides an institutional seller certification process
• Radon (420 ILCS 46/25), radon pamphlet delivery still required
• Smoke/CO Detector Certificate (430 ILCS 135; 765 ILCS 77/22), still required at closing
• Court approval: Formal administration sales may require probate court approval before closing; confirm PR's authority and whether a supervised sale order is needed before contract execution
• Survivorship / Tenants-in-Common: If decedent held property as a tenant in common, all co-tenants must sign or authorize the transfer; a co-tenant who is also the PR has a potential conflict that may require court appointment of an independent PR, -

6.3 Foreclosure / Bank-Owned (REO) Sales

• Lender/servicer typically sells via AS-IS contract with no seller representations
• If the judicial sale exemption applies (765 ILCS 77/15(a)), lender is not required to complete RRPDS
• Required disclosures that still apply:
• Lead-Based Paint, HUD streamlined institutional certification for REO properties
• Radon pamphlet, still must be delivered
• Smoke/CO Detector Certificate, required at closing (lender/servicer must certify or negotiate buyer assumption)
• HOA/Condo arrears: Buyer should obtain estoppel letter from HOA/condo; under Illinois Condominium Property Act (765 ILCS 605/9(g)(5)), a purchaser at a judicial sale takes the unit subject to no more than 6 months of unpaid assessments; however, voluntary REO sales may carry full unpaid balance, always obtain payoff letter, -

6.4 New Construction

• RRPDS does not apply to newly constructed residential property never previously used as a residence (765 ILCS 77/15(e))
• Builder substitutes its own warranty and disclosure documents:
• Illinois New Home Warranty Act (765 ILCS 70): 1 year defects in workmanship/materials; 2 years defects in plumbing, electrical, heating, and cooling distribution systems; 10 years structural defects
• Radon Pamphlet (420 ILCS 46/25), still required on transfer of new residential property
• Lead-Paint, not applicable for new construction (post-1978)
• Smoke/CO Detector Certificate, required at closing
• Buyer should retain a real estate attorney to review the builder's purchase contract, builder forms heavily favor the builder and may include mandatory arbitration, restrictive warranty limitations, and limited change-order rights, -

PART 7, Role-Specific Obligations

7.1 Seller Obligations Summary

7.2 Buyer Obligations Summary

7.3 Agent / Broker Obligations Summary

Transaction Checklist by Role

Seller Checklist

• [ ] Complete Illinois RRPDS (765 ILCS 77/35), signed by all parties to title; deliver to buyer before contract binding
• [ ] Deliver Illinois Radon Pamphlet (420 ILCS 46/25) and disclose known test results/mitigation systems
• [ ] Provide Lead-Based Paint Disclosure + EPA pamphlet (pre-1978 properties only)
• [ ] Request and provide HOA Resale Disclosure Package (765 ILCS 160/1-40), track buyer's 5-business-day rescission window
• [ ] Deliver Condo Resale Package (765 ILCS 605/22.1), track buyer's 5-business-day cancellation deadline
• [ ] Obtain and deliver Smoke Detector and CO Detector Compliance Certificate (430 ILCS 135; 765 ILCS 77/22)
• [ ] Disclose any private transfer fee covenants affecting the property
• [ ] Complete Flood/Floodplain Addendum if property is in or near a FEMA SFHA
• [ ] Gather and provide: maintenance records, appliance warranties, survey, permits, certificate of occupancy, HOA financials
• [ ] Order HOA/Condo estoppel/payoff letter early (allow 10, 14 business days)
• [ ] Resolve open permits and code violations before closing, or negotiate escrow holdback
• [ ] Confirm property taxes are current; coordinate proration credit with title company (Illinois taxes paid in arrears)
• [ ] Execute PTAX-203 at closing; confirm municipal transfer tax compliance
• [ ] Provide keys, garage openers, alarm codes, and HOA access at closing, -

Buyer Checklist

• [ ] Sign and acknowledge RRPDS and all seller disclosures before contract binding
• [ ] Engage a licensed Illinois real estate attorney immediately after contract acceptance, attorney review period runs 5 business days
• [ ] Schedule general home inspection within inspection period (typically 5, 10 business days)
• [ ] Consider additional inspections: radon test (48, 96 hour minimum), sewer scope, mold, chimney, HVAC
• [ ] Obtain independent radon test, especially for pre-1999 construction or basement-level living space
• [ ] Exercise or waive Lead-Paint inspection opportunity in writing (pre-1978 homes only)
• [ ] Review HOA/Condo documents; note and calendar 5-business-day rescission/cancellation window
• [ ] Obtain FEMA flood zone determination; secure flood insurance quote if property is in SFHA (Zone A/AE)
• [ ] Apply for homeowner's insurance early, review coverage for flood, sewer backup (a common Illinois issue), and loss of use
• [ ] Apply for mortgage; meet all contingency and commitment deadlines per contract
• [ ] Review title commitment; review Schedule B exceptions
• [ ] Verify property tax amount and proration credit; request actual current tax bill
• [ ] Verify wire instructions with closing agent by confirmed phone call, wire fraud and Business Email Compromise are common in real estate closings
• [ ] Review Closing Disclosure at least 3 business days before closing (TRID requirement if lender-financed)
• [ ] Attend final walkthrough 24, 48 hours before closing; confirm RRPDS representations remain accurate, -

Agent / Broker Checklist

• [ ] Deliver Illinois Agency Disclosure Notice at first substantive contact with each party; obtain signed acknowledgment
• [ ] Obtain written Dual Agency Consent (225 ILCS 454/15-45) before any same-office dual-representation situation proceeds
• [ ] Confirm RRPDS completed and signed by all sellers before listing or at contract execution; document delivery to buyer
• [ ] Confirm Radon Pamphlet delivered and buyer's acknowledgment signed (420 ILCS 46/25)
• [ ] Confirm Lead-Paint Disclosure signed by all parties (pre-1978 only); sign agent certification line
• [ ] Calendar HOA/Condo buyer rescission/cancellation deadlines (5 business days from delivery of documents)
• [ ] Verify earnest money deposited within 2 business days of receipt (IDFPR requirement)
• [ ] Issue Affiliated Business Arrangement disclosure (RESPA) if referring to affiliated title, lender, or insurance providers
• [ ] Present all offers promptly; document written instructions if seller directs holds
• [ ] Order HOA/Condo payoff/estoppel letters at contract execution; follow up if not received within 10 business days
• [ ] Track smoke/CO detector certificate as a closing condition, obtain before or at closing
• [ ] Confirm PTAX-203 is prepared and ready for recording; verify exempt status if applicable
• [ ] Advise all parties to consult a licensed Illinois real estate attorney for attorney review and complex legal questions, -

> ⚠️ Template example, not professional (legal/financial/medical) advice. Illinois real estate law changes frequently; statutes and regulations should be verified for current applicability. The Illinois REALTORS® contract forms are updated periodically, always use the current published version from Illinois REALTORS® or a licensed Illinois real estate attorney. Local ordinances (especially Chicago) may impose additional obligations beyond those described here. Invented values are tagged `[ASSUMPTION: …]`. Illinois REALTORS® does not endorse this template.

Sources (as of June 2026):

• 765 ILCS 77/1 et seq., Illinois Residential Real Property Disclosure Act (RRPDS; scope; exemptions; seller's duty)
• 765 ILCS 77/15, Statutory Exemptions from RRPDS
• 765 ILCS 77/20, Timing of disclosure delivery to buyer
• 765 ILCS 77/22, Smoke Detector Certificate obligation
• 765 ILCS 77/35, Content of RRPDS (disclosure questions)
• 765 ILCS 80/1 et seq., Illinois Contract for Deed requirements; required warning notice
• 765 ILCS 120/4, Illinois Real Estate Transfer Tax Law ($0.50 per $500)
• 765 ILCS 160/1-5; /1-40, Common Interest Community Association Act (HOA disclosure; buyer rescission)
• 765 ILCS 605/22.1, Illinois Condominium Property Act (resale disclosure; buyer's 5-day cancellation right)
• 765 ILCS 605/9(g)(5), Condo unpaid assessment cap at judicial sale (6 months)
• 225 ILCS 454/15-15, Fiduciary duties under Illinois Real Estate License Act of 2000
• 225 ILCS 454/15-25, Agency Disclosure Notice requirement
• 225 ILCS 454/15-45, Written Dual Agency Consent requirement
• 225 ILCS 454/10-30, Earnest money deposit timing
• 420 ILCS 46/25, Illinois Radon Awareness Act (pamphlet delivery; disclosure of test results)
• 430 ILCS 135/5, Illinois Smoke Detector Act (detector placement requirements)
• 430 ILCS 135/15-15, Illinois Carbon Monoxide Alarm Detector Act (CO detector requirements)
• 615 ILCS 5/18g, Illinois floodway and flood control; local floodplain ordinances
• 730 ILCS 150/11-9 (SORSA), Sex Offender Registration and Community Notification Act; registry at isp.illinois.gov
• 740 ILCS 70, Illinois Right to Farm Law (agricultural operation protection)
• 755 ILCS 5 et seq., Illinois Probate Act of 1975 (personal representative's authority)
• 765 ILCS 70/1 et seq., Illinois New Home Warranty Act (1/2/10-year builder warranty)
• 42 U.S.C. § 4852d; 40 C.F.R. Part 745, Federal Lead-Based Paint Disclosure (HUD/EPA; pre-1978 housing)
• RESPA, 12 U.S.C. § 2607; 12 C.F.R. § 1024.15, Affiliated Business Arrangement Disclosure
• FEMA Flood Insurance Rate Maps, msc.fema.gov
• Chicago Municipal Code § 3-33, Chicago Real Property Transfer Tax (buyer/seller rates; mansion tax surcharge)
• Illinois REALTORS® Residential Real Estate Purchase and Sale Contract (current form)
• Illinois Department of Financial and Professional Regulation (IDFPR), License Act rules; escrow procedures