What must sellers of real estate in Illinois provide to potential buyers?

In Illinois, sellers of real estate are required to provide potential buyers with a disclosure form detailing known defects. This requirement is part of the Illinois Residential Real Property Disclosure Act, which mandates that sellers disclose any material defects they are aware of that could affect the property's value or desirability. This form serves to inform buyers of any issues related to the property, such as structural problems, plumbing or electrical issues, environmental hazards, and more.

Providing this disclosure is critical as it protects both the buyer and the seller. For the buyer, it ensures they have all necessary information to make an informed purchasing decision. For the seller, it can serve as a shield against future claims of misrepresentation, as they have documented their disclosures. This level of transparency is meant to promote fair dealings in real estate transactions within the state.

In contrast to the other options, a verbal agreement about property condition does not meet legal standards for disclosure and may not be adequate for protecting buyer rights. A property insurance certificate is not a legal requirement to be provided by the seller, and typically comes into play after the sale. A title deed, while essential in a real estate transaction, is not provided to potential buyers prior to sale; rather, it is transferred at closing to convey ownership of