What Is An Attorney Review Period In Illinois Real Estate Contracts?

If you are buying or selling a house, you may have heard your realtor talk about an “attorney review period”. It is a provision in most contracts which gives the parties the right to have their lawyer look it over after it is signed. A true attorney review clause  allows the person to get out of it or suggest changes to the contract based on the legal advice they receive. Not all contracts have an attorney review provision in it. If you aren’t sure if your contract has one, ask- and do it right away as they usually expire in a matter of days. The reason for an attorney review period is to allow people to enter into contracts quickly before they lose their chance, without having to waste time in first hiring a lawyer to review it.  That being said, it is always a good idea to get legal advice on any contract that you are thinking of entering into.