Illinois Broker Reciprocity Practice Exam 2025 - Free Broker Reciprocity Practice Questions and Study Guide

A buyer has the right to terminate the contract if the seller refuses to provide a completed disclosure form. This is because disclosure forms are crucial in real estate transactions, as they provide essential information about the property that could significantly impact the buyer's decision. The law often requires sellers to disclose certain material facts about the property, and failure to do so may violate legal obligations.

When a seller withholds this vital information, it undermines the buyer's ability to make an informed decision and exposes the buyer to potential risks associated with undisclosed issues. By terminating the contract, the buyer protects themselves from proceeding with a purchase that could have undisclosed problems or defects.

In contrast, requesting an extension, proceeding with the purchase, or modifying the terms of the agreement are not appropriate responses in this situation since they do not address the underlying issue of the incomplete disclosure, which could leave the buyer vulnerable to unforeseen complications.