When a decision is made to purchase a home in the state of Illinois, the purchaser of the home must engage a licensed realtor. A good reputed realtor will work based on the requirements of the purchaser and make available a number of home choices. If the realtor is a member of National association of Realtors or the Illinois Association of Realtors, the realtor would have sworn by a code of ethics in practice methods. Member realtors use the MLS or Multi Listing Service, and work with all other realtor members to find a home fit for the purchaser. The purchaser thus has a choice of different homes in different locations.

Once the property is located the purchaser makes an offer to the seller in the form of a purchase and sale agreement with the description of the property, stating the price offered, the time schedule for the transaction, financing of the purchase, whether the purchaser or the seller will be liable to bear the cost of any damage occurring before the closure and the date of closing. The seller must disclose under the Residential Real Property Act of the State of Illinois all the possible known defects in the property. The disclosure should be in writing with a disclosure statement attached. Defects in the home known to the seller such as structural defects, radiation exposure, lead paint or pipes, earth stability defects, insect infestation, and underground fuel tanks should be detailed in the statement. The report should be given by the seller to the buyer before the acceptance signing of the offer. The purchaser can rescind the agreement if the seller refuses to provide the disclosure statement. The seller is not liable for defects which are not within the knowledge of the seller. If the seller makes a statement based on the inspection of another inspector or land surveyor the seller cannot be held liable. Once the seller and purchaser agree on terms and sign the sale purchase agreement the agreement becomes a binding contract.

Under the laws of the State of Illinois, the purchaser is expected to make an independent professional inspection of the property. A licensed home inspector licensed under the Illinois Home Inspector License Act should be engaged to detect any structural environmental or other material defects in the property. The purchaser should also engage a title search Company. The purchaser should hire an attorney, a real estate title company or a trust and title company to scrutinize the title of the property and to check public and court records for possible encumbrances of the title of the property. The American Land Title association has a list of title search professionals for the purchaser’s reference. Encumbrances that affect the title of property in the State of Illinois are easements and liens. Illinois laws recognize implied easements of necessity. Other encumbrances are liens on the property arising out of unpaid taxes, construction dues and amounts due under judgments like child support or debt. The purchaser should buy a title insurance to avoid defending undetected title claims.

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