Got an accepted offer on a Chicago home and wondering what happens next? Week one can feel like a sprint, especially when you hear terms like “attorney review” and “inspection contingency.” You want to protect your rights, keep your deal on track, and avoid missing anything important. In this guide, you’ll learn how these periods work in Illinois, typical timelines in Chicago, and a simple plan for what to do in your first seven days. Let’s dive in.
What attorney review means
Attorney review is a short period after your offer is accepted when your attorney reviews the signed contract. During this window, the attorney may accept the contract as-is, propose changes, or in some forms issue a disapproval that can cancel the contract if done within the deadline. The exact language in your contract controls what is allowed and what happens next.
This review focuses on legal terms, title and closing mechanics, contingencies, and risk. It is not a substitute for a home inspection. Your inspection rights are separate and sit in the inspection contingency.
What the inspection contingency covers
The inspection contingency is your right to inspect the property and respond to what you find. You can request repairs, ask for a credit or price reduction, or cancel the contract if the contingency allows. Your contract will specify how many days you have to complete inspections and deliver any written objections.
Inspections can include a general home inspection plus specialty checks like radon, sewer scope, pest, HVAC, or chimney. Plan ahead so you can complete any specialty inspections within your window.
How they work together in Chicago
In many Chicago-area deals, attorney review and inspection periods run at the same time. That way, you use the early days to address both legal and physical issues. You and the seller may negotiate contract language and repair items during the same week.
Missing a deadline can waive your rights. Often, if you do not exercise an attorney review or inspection contingency on time, the contract becomes binding with fewer outs. Check your contract to confirm day counts, notice requirements, and delivery methods.
Typical Chicago timelines
Every contract is different, but here are common local ranges:
- Attorney review: often 1 to 5 business days, with many offers using 3 to 5 business days.
- Inspection period: often 5 to 15 days, commonly 7 to 10 days. Some buyers request 10 business days to fit in specialty inspections.
- Earnest money: typically due within 24 to 72 hours after acceptance to the agreed escrow holder.
Examples you may see in the city and nearby Cook County communities:
- Example A (balanced): Attorney review 3 business days; inspection 10 calendar days; earnest money due in 48 hours.
- Example B (buyer-friendly): Attorney review 5 business days; inspection 14 calendar days; earnest money due in 72 hours.
- Example C (seller-preferred): Attorney review waived or 1 business day; inspection 5 calendar days; earnest money due in 24 hours.
Condo and co-op purchases often involve an added layer of HOA or management documents. Those packets can affect your timeline and what your attorney reviews.
Your week-one buyer checklist
Use this quick plan for days 0 to 7 after acceptance.
Immediate: day 0 to 1
- Confirm the effective date and every deadline in the signed contract, including whether days are calendar or business.
- Deliver earnest money as required. Note the escrow holder and delivery method.
- Confirm access instructions so inspectors can enter the property.
Day 1 to 3
- Hire an attorney and send the fully executed contract right away so review can start.
- Book a licensed home inspector within 24 to 48 hours. Reserve specialty inspections if needed.
- Notify your lender, share the signed contract, and allow them to order the appraisal if applicable.
- If buying a condo or co-op, request HOA or management documents per the contract timeline.
Day 3 to 7
- Complete the general home inspection and any specialty inspections.
- Review the inspection report quickly and decide on repairs or credits.
- Meet with your attorney to discuss approval, proposed changes, title items, and any contingency details.
- If your contract requires written notices for attorney disapproval or inspection objections, deliver them before the deadline and by the method the contract requires.
- Make sure your attorney, inspector, lender, and title company are aligned on next steps.
Smart negotiation tips
- Shorter review and inspection windows can strengthen an offer, but they increase your risk. Choose your timing based on market conditions and your comfort.
- If a seller asks for no attorney review, consider that only if you are comfortable with the contract terms or can engage counsel immediately after acceptance.
- Use clear inspection addenda when possible to outline how repairs or credits will be handled. Clear language helps prevent disputes.
Pitfalls to avoid
- Missing deadlines. Late earnest money, inspection notices, or attorney disapprovals can waive protections.
- Not reading the contract. Details about day counting, who pays for repairs, and how notices must be delivered can change your rights.
- Confusing overlapping periods. Confirm whether attorney review and inspection windows run together or separately.
- Waiving contingencies without understanding the risk. Removing protections may help you win a home, but know the trade-offs.
Condo and HOA document review
If you are buying a condo or co-op in Chicago, budget time for HOA or management documents. Your attorney may review budgets, rules, special assessments, and building policies along with the contract. These documents can influence both your timeline and what you choose to negotiate.
Sample early timeline to copy
- Day 0: Offer accepted. Deliver earnest money. Send the contract to your attorney. Schedule inspections.
- Days 1 to 3: Attorney reviews the contract. Inspector completes the general inspection.
- Days 3 to 7 (or by your deadlines): Receive the inspection report, decide on repairs or credits, and have your attorney send approval or negotiated changes.
What happens after review and inspection
Once the attorney review and inspection periods close, your contract typically becomes more binding with fewer outs. From there, you and your lender work through appraisal and underwriting, the title company prepares title work, and your attorney coordinates closing details. Keep your calendar updated with any loan and title milestones.
Ready to move forward with a calm plan and a steady local guide? Connect with the team that pairs clear advice with hands-on service in Chicago’s core neighborhoods. Schedule a no-pressure buyer consult with Clare Sells Homes to get your next steps mapped out.
FAQs
Can my attorney void the contract during attorney review in Illinois?
- It depends on the clause in your contract. Some forms allow timely attorney disapproval that cancels the deal, while others only allow proposing changes.
Can I schedule inspections while attorney review is open in Chicago?
- Yes. It is common and efficient to complete inspections during attorney review so you can negotiate legal and repair items within the early window.
What if my attorney wants changes after the attorney-review deadline?
- After the deadline, your ability to void for legal issues may lapse. You can still request amendments, but the seller is not required to agree.
Who pays for inspections and attorney fees in Chicago-area deals?
- Buyers typically pay for their inspections and their own attorney. Sellers cover agreed repairs or credits. Other fees are allocated by the contract.
How much do attorneys charge for a contract review?
- Fees vary. Some attorneys offer a flat fee for simple reviews, while more complex negotiations can cost more. Ask about flat versus hourly pricing up front.
What happens if I miss my inspection deadline?
- You may waive your right to object or cancel based on inspection issues. The contract language controls, so track deadlines closely.
