CHICAGO ASSOCIATION of REALTORS MOLD DISCLOSURE Form
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People also ask
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What are sellers required to disclose in Illinois?
What Illinois Law Requires Home Sellers to Disclose. Illinois law requires you, as a home seller, to tell a prospective buyer, in writing, about any material defects on the property that you actually know about. This means anything you're aware of that affects its value, healthfulness, and safety.
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Does mold need to be disclosed?
For sellers, disclosing mold issues is crucial for several reasons: Legal Compliance: In most states, sellers are required by law to disclose any known mold problems. Failing to disclose mold can result in lawsuits, financial liability, and the potential rescission of the sale.
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Can you sell a house with mold in Illinois?
In the case of mold, there is no legislation specific disclosure law. There is, however, the Residential Real Property Disclosure Act, which requires a seller to disclose any known physical defects, including issues involving moisture, which would lead to issues with mold.
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Does mold need to be disclosed in Illinois?
Illinois doesn't have any statutes or regulations that require landlords to disclose high concentrations of mold in rental properties to prospective tenants or buyers. Also, while federal law requires disclosures about lead paint, it doesn't impose a similar duty on landlords when it comes to mold.
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Does mold need to be disclosed?
For sellers, disclosing mold issues is crucial for several reasons: Legal Compliance: In most states, sellers are required by law to disclose any known mold problems. Failing to disclose mold can result in lawsuits, financial liability, and the potential rescission of the sale.
-
Can you sell a house with mold in Illinois?
In the case of mold, there is no legislation specific disclosure law. There is, however, the Residential Real Property Disclosure Act, which requires a seller to disclose any known physical defects, including issues involving moisture, which would lead to issues with mold.
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Are there Illinois regulations for indoor mold?
While Illinois does not have explicit mold standards, several laws and regulations indirectly address mold by focusing on building maintenance, habitability, and indoor air quality: Landlord and Tenant Act: This act requires landlords to provide a habitable living environment in residential leases.
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