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Illinois Purchase or Sale of Real Property - Land or Lot - Questionnaire

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Multi-State
Control #:
US-Q1036
Format:
Word; 
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Description

This form addresses important considerations that may effect the legal rights and obligations of the parties in a lot or land sale matter. This questionnaire enables those seeking legal help to effectively identify and prepare their issues and problems. Thorough advance preparation enhances the attorney’s case evaluation and can significantly reduce costs associated with case preparation.



This questionnaire may also be used by an attorney as an important information gathering and issue identification tool when forming an attorney-client relationship with a new client. This form helps ensure thorough case preparation and effective evaluation of a new client’s needs. It may be used by an attorney or new client to save on attorney fees related to initial interviews.


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FAQ

There is no legal requirement for either the buyer or the seller to pay for a land survey. In general, the party who wants the survey is the one who pays. For instance, if the seller wants the survey, then they must hand over the money, and likewise for the buyer.

Seller closing costs are fees you pay when you finalize the sale of your home in Illinois. These include the costs of verifying and transferring ownership to the buyer and many are unavoidable. In Illinois, you'll pay about 1.8% of your home's final sale price in closing costs, not including realtor fees.

In the state of Illinois, if you own a single family home or a townhouse with its own lot number, and you are selling your property, your real estate contract will require you to provide a survey to your buyer dated within the last six months.

Who is Responsible for Ordering a Survey in an Illinois Real Estate Closing? The seller is typically responsible for ordering a survey of the property.

Illinois Surveys. The Illinois Professional Land Surveyor Act of 1989, the Condominium Act, the Plat Act, and the Land Survey Monuments Act and local ordinances govern land surveys conducted in Illinois.

In the state of Illinois, if you own a single family home or a townhouse with its own lot number, and you are selling your property, your real estate contract will require you to provide a survey to your buyer dated within the last six months.

In the state of Illinois, if you own a single family home or a townhouse with its own lot number, and you are selling your property, your real estate contract will require you to provide a survey to your buyer dated within the last six months.

EligibilityMinimum credit score of 640 is generally required.Must meet county household income limits and purchase price limits.Contribute $1,000 or 1% of the purchase price, whichever is greater.The home must be your primary residence.You must complete homeownership counseling, either in person or online.

As the survey is chiefly going to help the buyer it tells you what state of repair it is in and possible risks with the property it is usually the buyer who arranges the survey and pays for the survey. Homebuyers generally arrange to have a house survey done after their offer has been accepted by the seller.

Buying a house without a surveyWhen you purchase any property without having a survey, irrespective of its age, you take a risk. You hope that you will not be one of the unfortunate few who move in and then encounter a significant defect, even on a modern property.

More info

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Illinois Purchase or Sale of Real Property - Land or Lot - Questionnaire