I signed a lease agreement less than 24hours ago. What is the buyers remorse law in the state of Illinois regarding tenancy?
The Illinois buyers remorse laws permit citizens to cancel certain consumer transactions within three business days. However, many people mistakenly believe that you have a three-day right to cancel ANY contract. This is not true. In fact, this right applies only to a few specific types of purchases, including door-to-door sales, hearing aids, buyer’s club memberships, home repair services and health club memberships. Under the Illinois Consumer Fraud and Deceptive Business Practices Act, citizens have a three-day right to cancel door-to-door sales when the total transaction is for $25 or more and the seller solicits you in your home to purchase, lease or rent merchandise. When you are solicited in your home, the seller must inform you verbally and in writing of your right to cancel. He or she must also provide written notice of the cancellation right in the contract or on the receipt of purchase. Finally, he or she must provide you with two copies of the notice (one to keep for your r
