LegalLife Multistate Guide and Handbook for Selling or Buying Real Estate - Illinois: Fill out & sign online

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

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Do I need an attorney when selling my house?

You may be able to sell the home privately, but the legal process of transferring the property from you to the buyer requires the participation of lawyers and the Deeds Office.

Can a buyer back out of a real estate contract in Illinois?

Most contracts contain a mortgage contingency clause, a provision which allows the buyer to lawfully cancel a transaction if the buyer cannot obtain a loan that satisfies the terms of the mortgage called for by the contract.

What if buyer cancels the property deal?

If the buyer fails to complete the transaction, the seller may forfeit the money, unless the parties have made a notarised agreement stating otherwise.

What happens if my buyer pulls out?

A buyer cannot legally withdraw an offer on a house if contracts have been exchanged. This makes exchanging contracts the most important element for you, as the seller. If a buyer does pull out after exchanging contracts, you are within your rights to sue them for losses.

Is Illinois an attorney closing state?

Although Illinois law does not require a real estate attorney to be present at closings, hiring an attorney when buying or selling your home is always wise.

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