When you sign a real estate contract in Illinois, the deal is not final right away. Most residential contracts include an attorney review period, which gives both the buyer and the seller a set amount of time to have a lawyer look over the contract. This is one of the most important protections available in a real estate deal, and knowing how it works can save you from agreeing to terms that do not serve your interests. If you are buying or selling a home in 2026, our Libertyville, IL residential real estate lawyers can help you make the most of this window before it closes.
What Is an Attorney Review Period for an IL Real Estate Deal?
An attorney review period is a block of time after a real estate contract is signed during which either party’s attorney can read the agreement and ask for changes. In Illinois, this period typically lasts for five business days, though the exact length can vary depending on the contract. During this time, either side can object to the terms or request changes. In some cases, you may walk away from the deal entirely without losing your earnest money.