Property Disclosure Changes

Are you aware of new changes to the Illinois Residential Real Property Disclosure Act? An important change took effect on Jan. 1. A state Appellate Court decision found an existing requirement in Question 6 for sellers to disclose known defects with walls and floors also includes windows and doors. (See the court’s decision.) A new form is available here. If the residential property is subject to a pending purchase contract and the seller has no new actual knowledge regarding defects relating to windows and doors, a new form won’t be needed. In other cases where there is no pending contract, it’s advisable to provide a new disclosure form to seller clients. For more information, see this helpful IAR article.