Under the Illinois Residential Real Property Disclosure Act, when must a seller provide the Residential Real Property Disclosure Report to a prospective buyer?
Correct Answer
B) Before the buyer makes a written offer
The seller must provide the disclosure report before the buyer makes a written offer to purchase the property.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Fair housing laws apply to a broad range of activities related to housing, including sale, rental, financing, and advertising.
A seller's disclosure statement is a form that sellers complete to inform buyers about the condition and history of the property, including known defects, past repairs, insurance claims, and environmental issues.
Many states and localities have fair housing laws that expand upon the protections offered by the federal Fair Housing Act.
More Mandated Disclosures Questions
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In Vermont, a seller's agent knows a serious property defect or limitation. Which statement is correct?
- → In Vermont, covered pre-1978 property is shown to a buyer. Which statement is correct?
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