The Attorney Review Trap: How Chicago Sellers Can Protect Their Next Move
The Critical Week That Can Make or Break Your Chicago Home Sale
You’ve accepted an offer. The champagne’s on ice, you’re browsing for your next home, and movers are waiting. Then your agent calls: “The buyers backed out during the attorney review.”
Welcome to Illinois’ one-week “option period,” where either side can walk away for any reason or none at all. As someone who has guided countless Chicago sellers through this, here’s the reality. Until the attorney review is complete, both the buyer and the seller can legally exit the deal.
It’s one of the most misunderstood and expensive mistakes in Chicago real estate. Many sellers assume a deal stays final before it’s legally final. Here’s how to protect your next move.
What Attorney Review Actually Means
In Illinois, after both parties sign a contract, attorney review usually lasts five business days. During this period:
- Either side can cancel the deal or request changes
- Inspections may trigger repair requests or credits
- Earnest money is usually refundable if the deal falls apart
Think of it as a handshake stage with legal fine print still drying. Until both attorneys sign off, nothing is binding. For sellers juggling a sale and purchase, this week determines whether you end up with two homes or suddenly none.
Stay alert and patient. A deal only becomes final once the attorney review is complete.
Why Deals Die During Attorney Review
I see three common deal-killers:
- Parental Influence: Family members question the decision, spurring doubt
- Inspection Paralysis: Even clean reports can make buyers second-guess themselves
- Economic Whiplash: Job market jitters or headlines can cause buyers to stall
Never assume a deal is final until your attorney confirms it.
How Sellers Can Protect Their Sale During Attorney Review
The Smart Seller’s Rule: Don’t Spend Until It’s Spent
My rule is simple: “Don’t go signing leases. Don’t risk your comfort or resources until the attorney review is over.”
Why? Because if the deal falls through:
- You could lose deposits or a new home
- Returning to market may raise buyer suspicion
- Bridge loans, moving dates, and school plans can collapse
Protect your position by waiting to commit to major moves until your attorney completes the review.
Seller Game Plan: Take Control of What You Can
Smart sellers don’t control outcomes. They control readiness.
A. Lock paperwork early.
Have your attorney pre-review standard contracts and inspection terms to minimize risk.
B. Know your buyer.
Work with your agent to vet buyer employment, lender quality, and contingencies. Local lenders and W-2 jobs usually indicate reliability.
C. Build a Plan B.
Match your buying and selling contingencies. Negotiate a rent-back to buffer timelines.
D. Keep it human.
Buyers feel more committed when there’s a personal connection. A thoughtful note or gesture can anchor confidence.
At The MG Group, we help sellers navigate this fragile week with structure and calm.
Bridge-Plan Families: Sequence Your Sale and Purchase
Households face two ticking clocks, selling one home and buying another. The rule: until attorney review ends, you’re not truly under contract.
| Stage | Safe to Proceed? | Why |
| Offer accepted | ❌ No | Either side can walk |
| Attorney review complete | ✅ Yes | Contract becomes binding |
| Inspection resolved | ✅ Yes | Terms are finalized |
| Appraisal done | ✅ Yes | Financing risk drops |
Time your decisions around the moment your deal becomes firm to protect your position and avoid unnecessary risk.
The Week That Almost Broke A Deal
Lena and Jamal accepted a full-price offer on their Logan Square condo and put a deposit on their next home in Oak Park. Three days into attorney review, the buyers’ parents flagged the HOA fee. They walked.
Lena and Jamal lost their dream home and nonrefundable deposit. When they relisted, weeks had passed, and buyer momentum had faded.
Their next offer? They waited until the attorney review was complete before committing elsewhere. It closed smoothly.
Experience is a hard teacher, but caution pays off. Sellers who stay calm and strategic usually come out ahead.
No-Panic Policy for Chicago Home Sellers: Key Takeaways
- What’s the trap? Attorney review gives buyers a free escape hatch.
- Why it matters: In 2025’s jittery market, cold feet are common.
- What to do: Stay calm and wait until the review ends before making major decisions
The smartest sellers treat attorney review like takeoff. Engines are ready, hands are steady, but they don’t lift off until they get the green light.
Take Control of Attorney Review With Expert Guidance
Don’t let a small window derail your biggest sale. At The MG Group, we guide Chicago sellers through attorney review with strategy, structure, and calm. From vetting buyers to timing your next move, we help you stay in control every step of the way.
Schedule a consultation today and protect your sale before you celebrate.
