Attorney Approval Clause: What Is It And Why Do I Need One?
An Attorney Approval Clause is a standard provision in residential real estate contracts. The Attorney Approval Clause allows your attorney to do an after-the-fact review of the contract within a short time period, typically the first five business days. The need for the Attorney Approval Clause arose from the fact that most attorneys generally work from Monday thru Friday from 9 to 5. Conversely, many consumers buy real estate on evenings and weekends. Many a good property has been lost, due to the fact that the buyer waited until the next business day so they could consult with their attorney. As a result, the Attorney Approval Clause was implemented as a standard provision within residential real estate contracts. In order to protect Illinois consumers, Illinois courts have given Illinois attorneys broad discretion to modify or kill residential real estate contracts. However, this power may only be exercised during the relatively short time period in which the Attorney Approval Clau
