DGAA bLAWg

Buying a Home in Illinois: Inspection Contingencies in the Contract

Web Admin - Monday, November 18, 2013

A considerable amount of paperwork is involved when buying a home. To begin the process, buyers sign a detailed contract with the sellers which essentially takes the home off the market while other details--including securing financing, appraisals, and inspections--are finalized.

Two particularly important contracts often used in Illinois are the Multi-Board Residential Real Estate Contract (“Multi-Board”), which has now been released in its fifth version and the Chicago Realtors Contract.  These documents get signed by both the buyer and seller, and represent an agreement between them that the buyer will indeed buy the house, and that the seller will sell it for the agreed upon price. However, the contracts also contain sections called “contingencies,” which represent certain things that either must happen, or cannot happen, for the sale to go through.

For example, a critical contingency that the Multi-Board calls for is the Professional Inspections and Inspection Notices section. This contingency allows for the buyer to conduct, at their expense, different types of inspections of the house that they just agreed to purchase. Under the Multi-Board, a buyer may conduct, “home, radon, environmental, lead-based paint and/or lead-based paint hazards, and/or wood destroying insect infestation” inspections.

While most of the names of those inspections provide a good idea of what the inspector will examine, “home” inspections are more general. It is intended and written in the Multi Board that the home inspector goes in to examine the state of the MAJOR components house. The contract  gives some examples of what constitutes a major component:

• Heating and air conditioning

• Plumbing and well systems

• Electrical systems

• Roofs, walls, windows, ceilings, and floors

• Appliances

• Foundation

If the buyer and the seller cannot reach an agreement about how to handle the results of the inspection by ten business days after they signed the contract, then either party may cancel the contract. This makes the inspector’s job particularly important, since it requires someone who can distinguish important issues from minor or cosmetic ones. Since the real estate market changed from an ultra hot Sellers market in the early 2000s to a cold Buyers market the tenor of the home inspection issues has changed significantly. More and more deals are getting terminated over minor inspection issues. The drafters of these two Contracts specifically drafted them to avoid this decision. Often times these issues are being raised as the parties are getting bad advice from the realtor and/or the attorney involved.

But not all defects or problems may automatically allow a buyer to get out of purchasing the home. For example, under the inspection contingency in the Chicago Realtors Contract, “the Buyer agrees that minor repairs and maintenance costing less than $250 shall not constitute defects covered” by the portion of the agreement which allow a buyer to terminate the contract. In other words, squabbles over minor issues which could be solved for little money are rarely should be enough to tank the deal. Many prolonged legal disputes hinge on the exact question of whether a defect is sufficient to allow a buyer to refuse to purchase the home. This is the point when the professionals involved should provide the appropriate guidance to the Buyer(s) regarding what is acceptable to raise under the contract terms and what is not acceptable to raise.

The easy thing for the Realtor and/or attorneys involved to do is to blame the home inspector.  However, the home inspection company has a contract with the client setting forth their obligation to inspect the property in a certain manner regardless what the home inspection contingency states. It is the responsibility of the Realtor and attorney involved to translate the inspection report into the home inspection contingency limitations and set the Buyers expectations on what the Seller should reasonably be asked to repair.

Of course, home inspections represent just one of the many legal complexities surrounding the process of buying or selling a home. If you are considering going through that process, contact an experienced Rolling Meadows real estate attorney today. Our team can help you navigate the process from start to finish. We serve many northwest suburban areas including Palatine, Buffalo Grove, Barrington, and other nearby communities.


Recent Posts


Tags

breach of contract Palatine probate lawyer Rolling Meadows car accident lawyers wage theft Illinois traffic laws underinsured motorist bad faith insurance claims insurance denial appeals murder defense Inverness injury lawyer uninsured motorist Palatine construction attorney Rolling Meadows pedestrian accidents internet murder golf accidents Rolling Meadows medical malpractice lawyers Arlington Heights estate planning attorney criminal law Crystal Lake employment law attorney Illinois business lawyer Arlington Heights wills and trusts lawyers Inverness real estate attorney IRELA commercial leases brain injury medication errors Illinois civil litigation lawyer cell phone denied insurance claims Illinois employment law attorneys Illinois medical malpractice claim insurance disputes swimming pools estate planning attorney Illinois Probate Act of 1975 pizza emoji Illinois rollover accident lawyers agent Kenilworth estate planning attorneys insurance claim dispute Food and Drug Administration's Food Safety Modernization Act probate claims overtime pay Arlington Heights tax lawyer Schaumburg Attorney Arlington Heights car accident lawyer insurance claim denial estate planning for college students rent to own real estate contracts Illinois traffic attorney advance healthcare directive insurance dispute trench injuries car crash Des Plaines drug lawyer trauma after an accident real estate zoning Barrington workers compensation attorney Rolling Meadows criminal attorney coronavirus Des Plaines civil attorney Illinois DGAA Barrington employment attorney Buffalo Grove employment lawyer denied insurance claim Illinois personal injury attorney Crystal Lake medical malpractice law firm Crystal Lake bike accident lawyer commercial leasing back injuries small business whistleblower protections Illinois attorney pain and suffering FMLA insurance negligence trucking accident lawyers power of attorney South Barrington real estate lawyer life insurance lawyer medical research Rolling Meadows boating crash lawyer Illinois driving without license auto accidents most common reasons for life insurance claim denials residential real estate medical malpractice Rolling Meadows employment attorney Crystal Lake injury attorney Rolling Meadows insurance dispute lawyers IRA benefits overtime violations spinal cord injuries BAC criminal defense Crystal Lake pet attorney Des Plaines insurance attorney motorcycle accident lawyer ken apicella texting and driving Affordable Care Act Des Plaines claims law firm BAIID filing a medical malpractice claim Schaumburg estate attorney food poisoning Deer Park accident attorney Long Grove estate planning attorneys Schaumburg personal injury attorney drunk driving probate claims process Arlington Heights Attorney corporate law natural gas insurance agent negligence Illinois trusts attorney Palatine life insurance lawyer Des Plaines pet law attorney Attorney Ken Apicella appealing an insurance claim subcontractor wrongful death Barrington business law firm car accidents disability benefits traumatic brain injury crossover accidents workplace sexual harassment Illinois elder law attorney estate planning trusts Illinois small business Barrington boating accident attorney Schaumburg insurance lawyers Barrington estate planning attorney digital media accounts, estate planning, Arlington Heights estate planning attorney, Illinois workers compensation lawyer expungement digital information Chicago traffic lawyer healthcare claims Crystal Lake accident attorney comp time Deer Park personal injury lawyer life insurance Barrington Illinois estate planning lawyer Arlington Heights real estate lawyer eluding a police officer premises liability Illinois Wage Payment and Collection Act involuntary manslaughter Illinois employment law pet bites Illinois wrongful termination lawyer drug crimes lawyer Palatine civil litigation lawyer Crystal Lake employment attorney Barrington criminal lawyer wills and trusts preventable medical errors boating accidents Buffalo Grove criminal defense lawyer IRA trust transfer Mt Prospect Attorney Deer Park medical malpractice attorney insurance dispute, insurance dispute lawyers, insurance claim denial, insurance claim delays, Rolling Meadows insurance dispute attorneys Deer Park workers compensation lawyer privacy laws distracted driving accidents drug crimes hands free device fiduciary rule delay foreclosure employment contract underfunded trust Palatine real estate lawyer mortgage life insurance claim denial, denial of life insurance claim Deer Park DUI lawyer texting while driving jet ski Crystal Lake traffic attorney attorney fees beneficiary complications Illinois DUI attorney in terrorem provision Exclusions boating DUI real estate attorney construction accidents, personal injury, wrongful death, Arlington Heights personal injury attorneys, workers' compensation Super Mario car accident lawyer Illinois trucking safety Rolling Meadows real estate attorney rollover accidents license suspension Arlington Heights criminal lawyer personal injury Palatine trusts lawyer Rolling Meadows Attorney Rolling Meadows business lawyer Illinois insurance attorney Buffalo Grove medical malpractice lawyers Crystal Lake estate planning lawyer Employment Discrimination Law Crystal Lake medical malpractice lawyer Palatine employment attorney employment law, meal breaks, rest breaks, hotel employees, Des Plaines employment law attorneys medical malpractice compensation Arlington Heights wills and trusts lawyer right to work POA Des Plaines criminal attorney Rolling Meadows DUI lawyer Illinois medical malpractice lawyers Illinois registered agent Arlington Heights employment law attorneys Buffalo Grove insurance claim dispute lawyers Des Plaines fiduciary rule insurance claim Detainer Actions distracted driving accident victims Barrington criminal defense lawyer Illinois traffic attorneys personal injury law firm creditors Illinois living will Illinois insurance dispute lawyers digital assets, digital fiduciary, estate planning, digital content, Long Grove estate planning lawyers criminal record trusts Rolling Meadows employment law attorneys Des Plaines medical malpractice attorney Crystal Lake medical malpractice attorneys Chicago will attorney, social media platforms, Illinois estate planning lawyer, real estate attorneys product liability Buffalo Grove personal injury lawyer Palatine law firm financial advisors estate planning, death tax, succession plans, business estate plans, Barrington estate planning lawyers Palatine business attorney manufacturing Inverness real estate lawyer living trust South Barrington real estate attorney Barrington civil litigation attorney Retaliatory Discharge Illinois workplace lawyer estate plan Illinois Workers’ Compensation Commission guardianship attorney personal injury claim Palatine personal injury lawyer products liability automated cars dynasty trusts Des Plaines personal injury attorney Rolling Meadows personal injury attorney insufficient documentation Illinois traffic ticket lawyer Family Medical Leave Act Palatine civil attorney condo association traffic crimes Schaumburg civil litigation attorney IRS Crystal Lake insurance lawyer Buffalo Grove real estate attorney Barrington injury attorney Buffalo Grove corporate attorney Chicago insurance claim attorneys Rolling Meadows insurance lawyer insurance claim denials construction contracts Crystal Lake tax lawyer employee misclassification Chicago will attorney DNR bicycle accidents personal injury lawyer license reinstatement liability real estate closing Schaumburg car accident lawyers real estate dog bites lapse in policy Crystal Lake civil litigation lawyer personal injury, auto accident injuries, delayed injuries, serious injuries, Des Plaines personal injury attorneys employment lawyer estate planning lawyer Fair Labor Standards Act traffic accidents Schaumburg estate planning lawyer Des Plaines collections attorney Barrington attorney Chicago estate planning Illinois employment lawyer insurance adjusters Arlington Heights trucking lawyer Inverness estate planning lawyer landlord tenant law cell phone accidents foreclosed rental property life insurance policy trucking accidents Class A misdemeanor Illinois wills and trusts Buffalo Grove life insurance attorney Inverness civil lawyer Arlington Heights lawyer Arlington Heights pedestrian accidents insurance claim delay fault based insurance Illinois probate lawyer DUI penalities Deer Park motorcycle accident lawyer Palatine punch death Palatine workers compensation lawyer civil rights violation Federal Food Drug and Cosmetic Act Barrington litigation attorney Illinois bicycle safety taxes Inverness probate lawyer Illinois Transfer on Death Instrument Palatine employment law lawyer Inverness DUI lawyer Illinois employment law firm dram shop law Illinois pedestrian accident attorney Chicago biking tips Illinois criminal defense attorney Illinois car accident attorney independent contractor Rolling Meadows traffic law firm drug crime Schaumburg traffic lawyer Joliet general practice lawyers federal regulations for LLCs elder law Deer Park traffic lawyer employment law deed transfer modern family estate planning traffic violations defense sole proprietorship power of attorney for healthcare criminal trust payments Arlington Heights wills and trusts attorneys insurance claims Illinois home inspection material misrepresentation low-ball insurance settlement Buffalo Grove probate lawyer Palatine injury attorney contracts sexual images digital evidence senior citizens Chicago insurance law firm Long Grove real estate lawyer holiday statistics Schaumburg criminal law attorney forming a corporation in Illinois Barrington life insurance lawyer suspended license Illinois insurance lawyer estate tax Crystal Lake traffic lawyer Deer Park real estate law firm Landlord Tenant Ordinance Schaumburg medical malpractice lawyer Illinois construction accident attorney compensatory time Illinois personal injury lawyer Illinois real estate lawyer probate lawyer investment property Illinois employment attorneys minimum wage Illinois lawyer cell phone tower data DMV Chicago car accident lawyer Legal Info Rolling Meadows insurance dispute lawyers, insurance dispute Barrington real estate lawyer living trust benefits Illinois Trust Code real estate lawyer Illinois insurance claim dispute lawyer employee rights slip and fall accidents no contest clauses car crash injuries hiring employees Illinois insurance claims lawyers medical malpractice, missed diagnosis, delayed diagnosis, medical mistake, Deer Creek medical malpractice lawyers Barrington Traffic Lawyer employee discrimination Schaumburg personal injury lawyers life insurance claims Palatine elder law attorney Chicago attorney Inverness personal injury attorney Inverness elder law lawyer Barrington personal injury lawyer Buffalo Grove traffic attorney Schaumburg wrongful death attorney Schaumburg probate attorney speeding Jay Andrew severance agreements car accident Rolling Meadows insurance attorney Arlington Heights injury attorney Transfer on Death Instrument Arlington Heights car crash attorneys Illinois workplace discrimination attorney gift taxes pedestrian accident Illinois Human Rights Act insurance claim dispute attorney Liquor Control Act Illinois workers compensation attorney Arlington Heights TBI attorney Illinois insurance claim attorney installment contracts Illinois LLC creation Rolling Meadows personal injury lawyer Mount Prospect wills and trusts lawyers civil litigation attorney car collision Des Plaines Traffic Lawyer marijuana crimes attorney Rolling Meadows traffic attorney Schaumburg personal injury lawyer construction accidents DUI Illinois estate planning law firm wrongful termination rollover car crashes ObamaCare vacation home fines motorcycle accident Chicago employment lawyer insurance disputes, Illinois insurance disputes, Illinois insurance dispute attorneys, denied insurance claims, Arlington Heights insurance dispute attorneys estate planning anesthesia errors liability claims Schaumburg construction accident lawyer Illinois medical malpractice attorney Arlington Heights accident attorney Des Plaines personal injury lawyer Deer Park traffic accident attorney traffic violations Illinois employment laws Rolling Meadows litigation lawyer real estate leasing Buffalo Grove car accident lawyer Crystal lake insurance dispute attorney Crystal Lake will lawyer LLCs Illinois employee rights attorney. Des Plaines real estate lawyer natural gas explosion Chicago estate planning lawyer workers comp pay when paid contract Des Plaines tax law firm Palatine traffic lawyer landlord medical malpractice claims estate planning, digital assets, Revised Uniform Fiduciary Access to Digital Assets Act, Illinois digital assets, Illinois estate planning, Arlington Heights traffic attorney accidental death benefits how to avoid common denials of life insurance claims healthcare Home Remodeling Repair Act Palatine insurance lawyer Illinois jet ski accident lawyer Buffalo Grove injury lawyer spinal cord injury Long Grove estate planning Crystal Lake criminal defense attorney Crystal Lake car accident lawyer Illinois real estate work unions college kids Barrington employment law attorney unauthorized overtime Illinois wills and trusts attorneys loopholes Des Plaines real estate attorney commercial real estate insurance agents Self-Directed IRA Accounts probate process home inspection lawyer Colin Gilbert preventing accidents Des Plaines motorcycle accident attorney Inverness traffic law firm vacation home insurance dispute attorney Illinois corporate lawyer Des Plaines accident attorney Illinois job attorney traffic tickets unpaid assessment Deer Park criminal attorney Illinois Sales Representative Act traffic laws car crashes Do Not Resuscitate Crystal Lake pedestrian accident lawyer Mount Prospect real estate lawyer surgical mistakes loss of consortium Illinois personal injury lawyers pedestrian injuries, pedestrian fatality Inverness accident lawyer BUI Rolling Meadows tax attorney Illinois speeding lawyer health insurance dispute Kenilworth estate planning lawyer Thanksgiving blood alcohol content Policy Cancellation Arlington Heights wills and trusts attorney CAM Rolling Meadows drug defense attorney Rolling Meadows marijuana attorney medical marijuana Barrington estate planning lawyer Crystal Lake employment lawyer blended families living wills Illinois tax attorney Des Plaines injury law firm insurance attorney Rolling Meadows criminal lawyer Buffalo Grove personal injury attorney license revocation probate fees Chicago lawyer drunk driving statistics job lawyers head on collisions comparative negligence driving Crystal Lake law firm Schaumburg employment attorney trustee Arlington Heights personal injury attorney Palatine corporate attorney Illinois insurance claim dispute lawyers Arlington Heights personal injury lawyer Arlington Heights medical malpractice lawyer Illinois estate planning attorney Inverness corporate attorney pet law Illinois business law atorneys Palatine corporate law attorneys Rolling Meadows probate lawyer hit and run accident bicycle dooring accidents Schaumburg elder law lawyer Rolling Meadows personal injury lawyers slip and fall Des Plaines personal injury lawyers wrongful termination, employment law, whistleblower protections, Illinois employment laws, discrimination in the workplace employees deadly crashes gift tax exemption, estate planning, estate planning strategies, Illinois estate planning, South Barrington estate planning attorneys Barrington medical malpractice lawyers Inverness insurance attorney murder charges changes to mortgage law paid sick leave special needs trust breathalyzer test GM ignition switches pedestrian-automobile accident Schaumburg drug defense lawyer personal injury attorney Rolling Meadows corporate lawyer Illinois medical malpractice case child safety Illinois personal injury top life insurance claim denials Chicago corporate attorney Schaumburg estate planning attorney estate attorney Chicago life insurance attorney Crystal Lake personal injury attorney institutional trustee Forcible Entry Schaumburg life insurance attorney caretaker rights license real estate contract Schaumburg criminal attorney Illinois injury lawyer Illinois boating accident lawyer social media after death civil litigation DUI defense Arlington Heights employment attorney business litigation Long Grove real estate attorney Illinois insurance disputes controlled substance defective products defective products lawyer operating agreements Illinois employment law attorney Chicago trucking accident attorney Illinois law Schaumburg corporate attorney field sobriety test traffic offenses startup company FSLA condo Schaumburg employment law attorneys Rolling Meadows estate planning attorney personal injury accidents Illinois estate planning rest breaks Rolling Meadows accident lawyer Illinois defective products attorney traumatic brain injuries Long Grove estate planning attorney unpaid overtime revenge porn mass shooting Whistleblower Claims liens Buffalo Grove law firm Barrington drug crime attorney DUI attorney elder abuse PTSD Home Sale Contingencies consent to a search Deer Park employment law attorney Long Grove wills and trusts attorneys Rolling Meadows employment law attorney employment law, Illinois employment laws probate employment attorney privacy denial of life insurance first degree murder Kenilworth estate planning attorney fatal car accidents Rolling Meadows life insurance claim denial attorney Palatine traffic accidents Riverwoods estate planning lawyer Barrington employment law firm marijuana llinois Real Estate Lawyers Association new real estate form boating under the influence irrevocable trust Palatine drug lawyer Arlington Heights Traffic Lawyer cause-of-death exclusions owner responsibility drugs dealing with problem employees TBI icy parking lots School Visitation Rights Act Illinois motorcycle accident lawyer workers compensation benefits denial of insurance claim underage DUI rumble strips income distribution deducation Palatine employment lawyer Arlington Heights insurance attorney living trust vs will Illinois mortgages drug possession Illinois will lawyer capital gains tax Schaumburg real estate lawyer Chicago employment attorney Rolling Meadows Traffic Lawyer clemency personal injury claims ACA Illinois traffic accident lawyer nursing home negligence unfunded trust Crystal Lake business law attorneys bike accident Illinois Smoke Detector Act Mount Prospect elder law attorney Crystal Lake personal injury lawyer Schaumburg injury lawyer Barrington personal injury attorney Illinois collections attorney tax attorney wills Colin H. Gilbert traffic deaths Palatine criminal defense lawyer homestead rights sexual harassment federal crimes Des Plaines DUI attorney problem employees Crystal Lake car accident attorney insurance denials truck collisions Illinois red light cameras reckless homicide Illinois pet lawyer pregnant women Palatine Attorney Schaumburg car accident attorney employment contract, employment law, employment at-will, Deer Park employment law attorneys, contract, Palatine estate planning lawyer Des Plaines drug crimes lawyer Buffalo Grove traffic lawyers workers compensation Fourth of July jet ski accidents caregiver meal breaks digital assets

Archive