Mastering the Illinois 8.0 Real Estate Contract: Attorney Review & Inspection Realities – Part 2

In Illinois, the Multi-Board 8.0 Residential Real Estate Contract gives both buyers and sellers several critical protections—and one of the most powerful is the Attorney Review Period.

This isn’t just a formality. It’s a phase that can reshape your entire deal, even after both parties have signed.

Attorney Review: Where the Real Negotiations Happen

Once a contract is signed, a five-business-day Attorney Review Period begins (unless extended by mutual agreement). During this window, either party’s attorney can:

• Request modifications to the terms of the contract

• Propose clarifications or additional protections

• Even cancel the contract entirely if both sides can’t reach agreement

That means nothing is truly final until this period passes without objection or all requested changes are agreed to in writing.

Example: You might write in an offer “as-is purchase, no inspection requests,” but that doesn’t lock everything in. The buyer’s attorney can still raise repair concerns or request credits during attorney review—and sellers need to be prepared for that.

“As-Is” Doesn’t Always Mean What You Think

Many buyers try to appear competitive by submitting offers “as-is with no repair requests.” It sounds strong on paper, but here’s the reality:

• After the inspection, buyers may change their minds if significant issues are discovered

• Even if the contract says “no requests,” their attorney can still bring up inspection-related concerns during attorney review

• This includes asking for credits, price adjustments, or in some cases, walking away from the deal

Sellers should never assume “as-is” offers mean negotiations are off the table. And buyers should be prepared for how inspection findings could influence the next steps.

Why This Matters for Both Sides

If you're a buyer, don’t rely on language in the offer alone. Discuss with your attorney how to handle potential inspection outcomes before they arise.

If you're a seller, understand that even the strongest offers may shift during attorney review. Working with an experienced agent and legal team is essential to keeping your deal on track.

Final Thoughts

The Attorney Review and Inspection phases are where many contracts are adjusted, amended, or canceled. Don’t assume the deal is done once it’s signed—this stage is just as important as the initial offer. Preparation, communication, and professional support are key to success.

Disclaimer: This article is for informational purposes only and does not constitute legal advice. For guidance specific to your transaction, always consult a licensed real estate attorney.

About the Author
With over 20 years of industry experience, Frank Campobasso is a seasoned real estate expert known for marketing single-family homes, townhomes, condos, multi-unit buildings, and investment properties. Dedicated to achieving outstanding results, Frank prioritizes customer satisfaction, ensuring that his clients’ homes sell quickly and for top dollar. His expertise in pricing, preparing, and showcasing listings has earned him recognition in leading real estate magazines, newspaper articles, and radio programs.

Call Frank at 773-425-6265 to schedule a personalized in-home consultation.
Website: www.camposellshouses.com
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Frank Campobasso
Century 21 Circle