Seems like every January brings a new ruling for IL housing, such as last January's enactment of the carbon monoxide detector law. This year it's the radon disclosure when selling a property.
Any sales transaction from January 1st, 2008 and on, the seller has to provide the buyer with two documents. One of the documents is a pamphlet from the IL Emergency Management agency entitled "Radon Testing Guidelines for Real Estate Transactions." The other required document is the "Disclosure of Information on Radon Hazards" form.
The documents need to be signed (the form) by both parties and the buyers must receive the pamphlet for the transaction to be binding. This law applies to residential single family properties and multi-units up to 4 units in the building.
What is radon?
Radon is an odorless gas that is radioactive that occurs naturally from the uranium in soil. It is the leading cause of lung cancer in non-smokers.
You can get the necessary form and pamphlet and learn who is exempt from your REALTOR® or real estate attorney. If you are looking to sell or buy a property in the southwest or near west suburbs (and southwest Chicago area) give Judy Orr a call at 708-536-8200. Judy is an experienced agent that knows updated laws and requirements and will be happy to represent you.