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The seller shall deliver to the prospective buyer the written disclosure report required by this Act before the signing of a contract.
The answer is sellers attorney. In Illinois, the closing statement is customarily prepared by the sellers attorney.
A seller of residential real property shall complete all items in the disclosure report described in Section 35. The seller shall deliver to the prospective buyer the written disclosure report required by this Act before the signing of a contract.
The person responsible for assembling necessary closing documents, preparing the HUD-1 settlement, and arranging the closing is generally referred to as the Closing Agent or Settlement Agent. This individual can be an attorney, a representative of the title company, or a representative of the mortgage lender.
In transactions involving a seller, the settlement agent is required to provide the seller with the Closing Disclosure reflecting the actual terms of the sellers transaction no later than the day of consummation.
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Lenders are required to provide your Closing Disclosure three business days before your scheduled closing.
The Illinois Residential Real Estate Property Disclosure Act is a real estate law in Illinois that requires home property sellers to inform potential real estate purchases of a wide variety of issues, defects, and repairs that the property owners are aware of as well as the repairs that have been completed to address
The seller can be asked to pay for the repairs, but if no resolution is reached, the new property owners may have no choice but to file a lawsuit against the sellers for failure to disclose material issues. Buyers only have one year after the purchase of the home under the Illinois Real Estate Property Disclosure Act.

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