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Get lists of Illinois real estate transactions. This snapshot of real estate sales, based on deeds transferred during this period, is compiled from public records. Median Price means that half the homes sold for more and half for less. Prices may reflect the types of housing sold, which vary according to locality and reporting period.
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3 bds. 2 ba. 1,966 sqft. - Closed. Sold 05/30/2024. 1214 E Olympian Rd, Urbana, IL 61802. EXP REALTY,LLC-MAHO. $695,000. 3 bds. 3 ba. 2,892 sqft. - Closed. Sold 05/30/2024. Loading...
Feb 9, 2024 · Get started! How to sell a house by owner in Illinois. Illinois FSBO sellers must follow state and local rules and regulations, including filling out and filing the paperwork required to sell without a realtor in Illinois. Illinois sellers should also follow the advice and actions laid out in these seven steps:
HOW A TRANSFER TAX WORKS. TRANSFER TAXES ARE ASSESSED WHEN A PROPERTY IS TRANSFERRED/SOLD. Most municipalities in Illinois with transfer taxes charge a set amount per $1,000 of the sales price. Forexample, in Aurora, sellers mustpay$3 for every$1,ooo in a transaction.
- What Illinois Law Requires Home Sellers to Disclose
- Which Illinois Property Sellers Do and Don't Need to Make Disclosures
- Where to Draw The Line When Making Real Estate Disclosures in Illinois
- Completing and Delivering The Illinois Property Disclosure Form
- Illinois Radon Disclosure Requirement
- Federal Law Requiring Lead Disclosure
Illinois law requires you, as a home seller, to tell a prospective buyer, in writing, about any material defects on the property that you actually know about. This means anything you're aware of that affects its value, healthfulness, and safety. This could include things like past flooding and flood risk, unsafe conditions, municipal code violation...
The Illinois Residential Real Property Disclosure Act applies to "sellers" of "residential real property." Both terms are defined in the law: "Residential real property" is property improved with one to four residential dwelling units, or an individual condominium or cooperative unit. A "seller" is any owner or any beneficiary of a trust that owns ...
The law does not require you to disclose absolutely everything you know about the property. Defects that are not "material" need not be disclosed. If the defect won't affect the value or safety of the property, it's not crucial to mention. (The statutory language is, "'material defect' means a condition that would have a substantial adverse effect ...
You are required to answer the questions on the standard "Residential Real Property Disclosure Report" form, the language of which comes directly from the law. (See 765 ILCS § 77/35.) Your real estate broker or attorney will be able to provide you with a printed version of the form and help you complete it. All of the required disclosures are liste...
The Illinois Radon Awareness Act, 420 ILCS § 46/1 et seq., requires you to give two pamphlets about radon hazards to the buyer before the contract is signed. The first is from the Illinois Emergency Management Agency and is entitled Radon Testing Guidelines for Real Estate Transactions. The second pamphlet is the Illinois Disclosure of Information ...
Federal law requires disclosure of potential lead paint and other lead hazards, as described in Seller Responsibility to Disclose Lead-Based Paint Hazards. This mainly affects sellers of houses constructed before 1978, which are likely to contain some source of lead, such as lead-based paint or lead pipes.
Mar 19, 2024 · Illinois's current transfer tax rate is $0.50 per $500. So, for a house worth $263,576 — the median home price in the state — the transfer tax due will be $395. On top of that, certain counties impose an additional 25 cents for every $500.
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Illinois Real Estate Closing Checklist. Buying and selling real estate can be a complex transaction. There are multiple steps that need to take place before title and possession of the property can be transferred to the buyer.
