Selling your home without an agent inUrbana, Illinois

765 ILCS 77/15(1)

An Illinois seller is exempt from the Disclosure Act for the court-ordered transfer category and its nonexclusive examples in § 15(1).

765 ILCS 77/15(2)

Illinois § 15(2) exempts the listed deed-in-lieu, consent-judgment, foreclosure, collateral land-trust assignment, and specified mortgagee-successor transfer category.

765 ILCS 77/15(3)

Illinois exempts a fiduciary transfer made in administering a decedent’s estate, guardianship, conservatorship, or trust, including an Illinois land trust.

765 ILCS 77/15(4)

Illinois exempts a transfer from one co-owner to one or more other co-owners.

765 ILCS 77/15(5)

Illinois exempts a transfer from a decedent through testate disposition, intestate succession, or a transfer-on-death instrument.

765 ILCS 77/15(6)

Illinois exempts a transfer to a seller’s spouse or to a person in the lineal line of consanguinity of one or more sellers.

765 ILCS 77/15(7)

A relocation-assistance entity described in § 15(7) is exempt only while making the seller’s disclosure report available to all prospective buyers.

765 ILCS 77/15(8)

Illinois exempts transfers to or from a governmental entity.

765 ILCS 77/15(9)

Illinois exempts newly constructed residential real property that has never been occupied, but expressly excludes rehabilitation of existing residential real property from that category.

765 ILCS 77/20

For a covered Illinois transaction, the seller must complete all items in the statutory disclosure report and deliver the written report to the prospective buyer before the contract is signed.

765 ILCS 77/25(b)

An Illinois seller subject to the Act must disclose material defects of which the seller has actual knowledge.

765 ILCS 77/25(c)

The Illinois Disclosure Act does not itself require the seller to conduct a specific investigation or inquiry to complete the disclosure statement.

765 ILCS 77/30

Before closing, an Illinois seller who learns of an error, inaccuracy, or omission in a delivered report or supplement must deliver a written supplemental disclosure by a § 50 method.

765 ILCS 77/40(a)

If a covered Illinois report disclosing a qualifying material defect is delivered only after all parties sign the contract, the prospective buyer may terminate within five business days after receipt and receive the return of transaction earnest money or down payments, subject to § 40’s conditions.

765 ILCS 77/40(b)

A material defect disclosed in an Illinois supplement supports buyer termination only under one of § 40(b)’s three conditions concerning prior actual knowledge, nonrepairability before closing, or the seller’s failure to agree timely in writing to repair.

765 ILCS 77/45

The Illinois Disclosure Act does not limit remedies or modify disclosure duties created by other statutes or common law to avoid fraud, misrepresentation, or deceit.

765 ILCS 77/5

Illinois defines residential real property for the Disclosure Act to include property improved with one to four dwelling units, cooperative units, condominium units and their qualifying limited common elements, and qualifying manufactured homes.

765 ILCS 77/50

Under Illinois § 50, delivery to one prospective buyer or an authorized buyer representative counts for all prospective buyers, and report delivery is effective upon buyer receipt.

765 ILCS 77/50(1)

Illinois permits personal, facsimile, email, or other electronic delivery of the disclosure report to buyer-provided or contract contact information.

765 ILCS 77/55

A seller who knowingly violates an Act duty or knowingly gives false information on the statutory report is liable for actual damages and court costs, and the court may award reasonable attorney fees to the prevailing party.

765 ILCS 77/55

If an Illinois seller fails or refuses to provide the report before conveyance, the prospective buyer has a statutory right to terminate the contract.

765 ILCS 77/60

An action for violating the Illinois Disclosure Act must be commenced no later than one year from the earliest of possession, occupancy, or recording of a conveyance instrument.

42 U.S.C. § 4851b(27)

Federal lead-disclosure law generally defines target housing as housing constructed before 1978, subject to the statutory elderly, disability, zero-bedroom, child-occupancy, and jurisdiction-specific exceptions.

42 U.S.C. § 4852d(a)(1)(B)

Before a purchaser or lessee is contractually obligated for target housing, the seller or lessor must disclose known lead-based paint or hazards and provide available lead-hazard evaluation reports.

42 U.S.C. § 4852d(a)(1)(C)

For a target-housing sale, the seller must permit the purchaser a 10-day lead risk-assessment or inspection period unless the parties mutually agree to a different period.

765 ILCS 77/40(c)

Illinois § 40 termination ends after conveyance and is deemed made when written notice reaches at least one seller by a § 50 method at seller-provided or contract contact information.