Buyers and sellers enter into a residential real estate contract or otherwise known as “Multi-Board Residential Real Estate Contract 7.0” in Illinois. The beginning of the residential real estate closing begins at the beginning of the date of acceptance of the real estate contract.
YORKVILLE AND AURORA REAL ESTATE ATTORNEYS IN KENDALL COUNTY
HOME INSPECTION AND ATTORNEY REVIEW REAL ESTATE ATTORNEYS
Under Paragraph 12(a), the request for repairs shall cover only the major components of the Real Estate, limited to central heating and cooling system(s), plumbing and well system, electrical system, roof, walls, windows, doors, ceilings, floors, appliances and foundation.
Furthermore, this Paragraph 12(a) summarizes that a major component is functional when it does not constitute a current threat to health or safety, and performs the function for which it is intended, regardless of age or if it is near or at the end of its useful life”. Paragraph 12(a).
SELLER AND BUYER’S HOUSE CLOSING ATTORNEYS IN OSWEGO AND MONTGOMERY ILLINOIS: KENDALL COUNTY
Consequently, a buyer’s real estate attorney must consider whether their home inspection request could violate the new home inspection paragraph of the Multi-Board Residential Real Estate Contract 7.0 and enable a seller to void the real estate contract. The seller has the contractual authority to terminate a real estate closing when a buyer asks for repairs or credits in violation of Paragraph 12(a).
EXPERIENCED KENDALL COUNTY AND AURORA ILLINOIS REAL ESTATE CLOSING ATTORNEYS
In conclusion, Attorney Sean Robertson is Principal of Gateville Law Firm and they concentrate in representing sellers in residential real estate transactions. Gateville Law Firm also represents buyers in the home buying process and provides experienced and skilled legal representation. Our house closing attorneys in Kendall County practice residential real estate law daily unlike many seller’s closing attorneys.
Attorney Robertson is a graduate University of Illinois at Urbana-Champaign for his undergraduate degree. Attorney Robertson earned his law degree from DePaul University College of Law at Urbana-Champaign. We may be reached at 630-780-1034 or via online contact form. Our law firm regularly represents clients in buyers and seller real estate transactions in Aurora, Montgomery, Yorkville, Oswego, Sandwich, Plano, Minooka, Shorewood, Joliet, Naperville, and Plainfield.