Do you have to disclose mold when selling a house in Illinois?

Do you have to disclose mold when selling a house in Illinois?

The residential real property disclosure is required by the Illinois Residential Real Property Disclosure Act. But, there is no law requiring a “Mold Disclosure”. Many Buyers and Sellers are surprised to learn that Illinois has no law specifically dealing with the disclosure of mold.

Can you sell a house with an unpermitted deck?

Can you sell a house with an unpermitted deck? Yes, however you should be prepared to disclose that it was non permitted. You can sell a house with non permitted improvements, but be prepared to disclose the improvements and the lack of proper permits.

Can you buy a house with unpermitted work?

Your mortgage lender can call in the loan if they learn you knowingly bought a home with unpermitted work. Although that rarely occurs, the bank may decide carrying the loan isn’t worth the risk if the type of work performed exposes it to potential liabilities.

What happens when you renovate without a permit?

Without the permit, your contractor can simply walk away from the job with whatever money you’ve paid them, and dip off the face of the earth. With a renovation finished only half-way, you’ll need to hire someone else to complete the job. Building permits protect YOU, the homeowner.

What happens if sellers don’t disclose something?

But if it can be proven that something was known and omitted, a seller can get in big trouble. “A seller may be liable to the buyer for the nondisclosure of material facts, negligent misrepresentation of facts, intentional misrepresentation of facts, or suppression or concealment of facts,” Zuetel explains.

Does a seller have to disclose water damage?

Many sellers fear that disclosing past water damage will send a potential buyer running. But by failing to disclose, the seller risks scaring off the buyer when the home inspection uncovers evidence of damage. While it’s not a federal law, in most states it’s illegal to lie about your knowledge of water damage.

Can buyers sue seller after closing?

As a last resort, a homeowner may file a lawsuit against the seller within a limited amount of time, known as a statute of limitations. Statutes of limitations are typically two to 10 years after closing. Lawsuits may be filed in small claims court relatively quickly and inexpensively, and without an attorney.

Will mold fail a home inspection?

Home inspections can reveal unknown issues like mold, termites, and foundation problems. These issues are often costly to fix and can scare off buyers.

Is it safe to live in a house with mold?

The CDC, or the Centers for Disease Control and Prevention, warns about the dangers of living with mold in the home: Respiratory tract symptoms that include coughing, wheezing, and swelling of the throat. Those who have asthma and allergy problems are especially at risk.

What can go wrong during a home inspection?

Home inspector Dave Swartz has developed a list of the 10 most common home defects, many of them emphasizing the issues that Austin and Rick highlighted above:

• Faulty wiring.
• Roof problems.
• Heating/cooling system defects.
• Plumbing issues.
• Inadequate insulation and ventilation in attic.
• Whole house is poorly maintained.

Do home inspectors miss things?

The real estate home inspector is liable if he misses any problems, whether major or minor, with any of the items on his checklist. Some might be minor, like a leaky faucet, that a buyer would overlook and not pursue. A major problem would be a furnace that will need to be replaced before the next winter.