Transaction Coordination

Illinois Attorney Review Period: Multi-Board 8.0 Deadlines

How the Illinois attorney review period works in the Multi-Board Residential Real Estate Contract 8.0: approval, disapproval and counteroffers, the 10-business-day cutoff, the inspection and financing deadlines around it, how business days and notice are counted, and how a TC tracks each date.

Ijharul Islam October 21, 2026 8 min read

The Illinois attorney review period, in short: under paragraph 13 of the Multi-Board 8.0 contract, each side's attorney has 5 business days after the Date of Acceptance to approve, disapprove or propose changes by notice. Proposed changes are a counteroffer, and if they aren't resolved by 10 business days after acceptance, either party can terminate.

More on this topic: Contract deadlines by state, every guide in one place.

Multi-Board 8.0 was approved in February 2025 and replaced version 7.0, so if you searched for the 7.0 deadlines, check which version is in your file. Paragraph numbers below are from the 8.0 form. It's general information, not legal advice; the executed contract controls. For other states, see the deadlines in a purchase contract.

Key takeaways

Attorney review is 5 business days after the Date of Acceptance (paragraph 13); no notice in time means it's waived.
Proposed modifications are a counteroffer; unresolved at 10 business days, either party can terminate.
The inspection notice is also due 5 business days after acceptance (paragraph 15), with the same 10-business-day cutoff for repair talks.
Business days are Monday to Friday excluding federal holidays; only closing and the Financing Contingency Date roll to the next business day.
An email notice sent outside 8 a.m. to 6 p.m. Chicago time counts from the first hour of the next business day.

What is the attorney review period in Illinois?

It's a window of five business days after the Date of Acceptance in which the attorneys for the buyer and seller may, by notice, do one of four things (Multi-Board 8.0, paragraph 13):

Approve the contract.
Disapprove it, but not “based solely upon the Purchase Price”.
Propose modifications, other than to the price. These are conclusively a counteroffer, even if the proposal says it isn't.
Make proposals that specifically refer to subparagraph 13(d). These aren't a counteroffer: if they aren't agreed, neither side can void the contract over them.

If no notice of disapproval or proposed modifications is served in time, the paragraph is deemed waived and the contract stays in full force. The period comes from the contract, so its length and start are whatever the executed form says.

What happens when attorneys propose changes during review?

The deal stays open while the parties negotiate, up to a second deadline. If written agreement on all proposed modifications hasn't been reached once ten business days after the Date of Acceptance have passed, either party may terminate by notice, and the contract is terminated immediately. A termination is absolute: a party can't reinstate the contract by withdrawing its proposals.

In practice there are two dates to track: day 5 for the attorneys' notices and day 10 for agreement on the changes. Any agreed changes usually go into a written amendment; see addendum vs amendment.

How long is the inspection period in the Multi-Board 8.0?

Five business days after acceptance, if the buyer kept the right to inspect. Paragraph 15 gives three choices, and if none is initialed, 15(a), a waiver of professional inspections, applies.

15(b), inspection with requests: the buyer serves notice of major component defects within 5 business days (10 calendar days for a lead-based paint inspection). The report isn't sent unless the seller or seller's attorney asks for it in writing. If there's no written agreement on all issues once 10 business days after acceptance have passed, either party may terminate. Requests for minor, routine or cosmetic items let the seller terminate.
15(b)(3): if the condition is unacceptable and the buyer serves notice within 5 business days, the contract is void.
15(c), inspection with no requests: the buyer can inspect and void the contract by notice within 5 business days, but can't ask for repairs or credits.
Paragraph 16: a wood destroying insect report from the seller within 15 business days, and well or septic reports delivered at least 10 business days before closing.

Missing the 5-day notice waives the right to terminate under paragraph 15. More on the request itself in the repair request process.

When are the other deadlines in the Multi-Board 8.0 contract?

Deadline	When	Paragraph
Earnest money to escrowee	Business days after acceptance written in the blank; additional earnest money by a date	3(b)
Financing application, fees paid	10 business days after acceptance; then the seller has 5 business days to terminate if it wasn't done	8(a)
Financing Contingency Date	45 days after acceptance or 5 business days before closing, whichever is earlier	8(a)
Homeowner insurance	10 business days after acceptance	9
Flood zone option	10 business days after acceptance or the Financing Contingency Date, whichever is later	10
Condo disclosures	Seller applies within 10 business days; buyer has 5 business days after receipt to object	17(d), (e)
Plat of survey	At least 1 business day before closing	21
Closing	The date written in, or as agreed in writing	5

On the financing date, a buyer with a written rejection who serves notice by that date voids the contract; a buyer who instead gives notice that approval hasn't arrived makes the contract voidable by either party until approval is delivered. See the earnest money deadline for tracking the deposit.

How are business days and notices counted in Illinois?

Paragraph 25 defines business days as Monday through Friday, excluding federal holidays, and business hours as 8 a.m. to 6 p.m. Chicago time. If closing or the Financing Contingency Date lands on a non-business day, it moves to the next business day; nothing else is said to roll.

Notice (paragraph 28) goes party or attorney to party or attorney: personal delivery; regular plus certified mail, effective on mailing; fax or email, effective when sent during business hours, otherwise at the first hour of the next business day; or overnight courier, effective the next business day after deposit. Send courtesy copies to the agents.

Example (Date of Acceptance Friday, November 6, 2026)	Deadline
Attorney review and inspection notice: 5 business days	Monday, November 16 (Veterans Day, Wednesday November 11, is skipped)
Agreement on modifications or repairs: 10 business days	Monday, November 23
Financing application, insurance: 10 business days	Monday, November 23
Wood destroying insect report: 15 business days	Tuesday, December 1 (Thanksgiving, November 26, is skipped)
Financing Contingency Date, closing Friday, December 18	Friday, December 11 (5 business days before closing comes before December 21, day 45)

The form doesn't say whether the Date of Acceptance itself counts; this example starts the count the next business day, so confirm with the attorneys. The dates are illustrative; see calendar days vs business days.

How does Illinois attorney review compare with New Jersey?

	Illinois (Multi-Board 8.0)	New Jersey
Source	The contract, paragraph 13	A Real Estate Commission rule, N.J.A.C. 11:5-6.2
Length	5 business days	3 business days
Starts	Date of Acceptance	Delivery of the signed contract to both parties
Days skipped	Weekends and federal holidays	Weekends and legal holidays
Outcome of changes	A counteroffer; either side can terminate after 10 business days without agreement	Disapproval cancels the contract

More detail in the New Jersey attorney review period.

What happens if you miss an Illinois contract deadline?

Usually the right is waived and the contract goes on. Paragraph 13 says a late attorney notice waives attorney review; 15(b)(4) says the same for inspections; paragraph 9 for insurance. Time is of the essence (paragraph 29), so a late notice generally doesn't count. See what happens if you miss a contingency deadline.

Which forms go with these deadlines?

Form	Use it for
Multi-Board Residential Real Estate Contract 8.0	The contract and every deadline above
Repair Agreement, Intent to Escalate Appraisal, Reverse Contingency, Multi-Unit and Short Sale addenda	New or updated with 8.0, per HeplerBroom's July 2025 summary
Illinois Residential Real Property Disclosure, lead-based paint disclosure and EPA pamphlet	Acknowledged in paragraph 11 before signing

How do you track Illinois attorney review deadlines without missing one?

Confirm the Date of Acceptance on page 14 of the form, then set every deadline in business days from it. Give the attorney review notice and the inspection notice to the attorneys, track day 10 for agreement on changes, and log when each notice was served and how, because email after 6 p.m. counts the next business day.

In Closingbird, attorney review is “5 business days after acceptance”, and Closingbird's business days skip weekends and US federal holidays, the same definition as paragraph 25. It doesn't roll closing or the Financing Contingency Date off a weekend by itself, and it can't pick the earlier of two dates, so work out the Financing Contingency Date and set a fixed date. Anything counted from receipt of a document, such as condo disclosures, gets a fixed date too. Every owner gets a morning reminder. See deadline tracking and business days vs calendar days.

Frequently asked questions

How long is attorney review in Illinois?

Five business days after the Date of Acceptance in the Multi-Board 8.0 contract (paragraph 13), unless the parties changed it.

Does attorney review include weekends in Illinois?

No. Business days are Monday through Friday, excluding federal holidays (paragraph 25).

Can an attorney cancel a contract over the price in Illinois?

Not on price alone. Disapproval can't be based solely on the purchase price, and proposed modifications can't change the price.

Is the Multi-Board 7.0 contract still used?

8.0 replaced 7.0 in February 2025. Older files may still be on 7.0, so check the version printed on the form.

What happens if no attorney sends a notice during review?

Attorney review is deemed waived and the contract stays in full force.

When does an emailed notice count in Illinois?

When sent, if it goes during business hours (8 a.m. to 6 p.m. Chicago time) on a business day; otherwise at the first hour of the next business day.

Run it in Closingbird

Upload an Illinois contract, check the attorney review and inspection dates Closingbird fills in, and give each one an owner who gets a morning reminder. Start a free trial (14-day free trial, no credit card required) or see pricing.

Sources

Checked in October 2026. Rules and prices change, and many vary by state, so confirm with the source, your state's real estate commission or your broker before you rely on them.

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