Honesty is the best policy. Isn’t it? A new law in the New Year in Illinois expands the rules of disclosure for someone trying to sell a house. In this case: a material defect in windows and doors. It’s already the law to disclose whether the property used to house a meth lab. All that honesty is going to hurt the sale, isn’t it?
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“That’s a conundrum that any seller is going to face, but the law is pretty clear,” says Jon Broadbooks, spokesman for the Illinois Association of Realtors. “If you are aware of a material defect in a dwelling that you are selling, then you must disclose it. They key is: are you aware of it?”
Broadbooks says it’s not reasonable to expect a real estate agent to know of all details and defects based on that agent’s walk-through.