Illinois contract deadlines and disclosures
A quick checklist for Illinois agents, from signed contract to closing. Use it as a starting point: your signed contract always wins.
The contract
Most residential deals use the Multi-Board Residential Real Estate Contract 8.0 (Chicago area) or Illinois REALTORS contract, published by Chicago-area REALTOR and bar associations / Illinois REALTORS. Closings are usually handled by a title company. Attorney review usually runs about 5 days after signing.
Typical deadlines
Days are common starting points, not rules. Many are negotiated in every contract.
| Deadline | Typical timing | Note |
|---|---|---|
| Date of Acceptance | When the last party signs (day 0) | |
| Attorney review ends | 5 business days after signing | |
| Earnest money delivered | 2 business days after signing | |
| Loan application | 5 days after signing | Only if your contract includes it |
| Professional inspection notice due | 5 business days after signing | |
| Appraisal contingency | 21 days after signing | Set in each contract; typical shown. Only if your contract includes it |
| Mortgage contingency date | 30 days after signing | Set in each contract; typical shown |
| Title commitment delivered | 14 days after signing | Only if your contract includes it |
| Title objections | 5 days after Title commitment delivered | Only if your contract includes it |
| HOA / condo resale documents delivered | 10 days after signing | Only if your contract includes it |
| Closing | 35 days after signing | Set in each contract; typical shown |
| Final walkthrough | 1 day before Closing | |
| Possession | Same day as Closing |
Disclosures and required forms
Required: Residential Real Property Disclosure Report before signing (765 ILCS 77)
Required: Radon: Disclosure of Information on Radon Hazards + IEMA testing guidelines (420 ILCS 46)
If it applies: Condo 22.1 disclosures (declaration, budget, reserves) (confirm with your broker)
If it applies: Lead-based paint disclosure (built before 1978)
Money at closing
Transfer tax: State $0.50 per $500 plus county $0.25 per $500 (0.15% together), customarily paid by the seller; Chicago and some towns add their own stamps. (confirm with your broker)
Good to know
Attorney review and inspection run 5 business days together; until then either attorney can disapprove or propose changes.
Let Reta track it for you
Upload your signed contract and Reta builds this timeline with your real dates, reminds you before each deadline, and drafts the emails to your client, lender and title for you to approve. Your first deal is free.
This guide is general information for licensed agents, not legal advice. Rules and forms change; confirm with your broker or a local attorney. Last checked 2026-11-10.