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Buying Or Selling Your Home? Get An Attorney

Whether a young family is buying a larger home for its children, empty-nesters are downsizing after the kids leave for college, or a sale is necessary in order to move somewhere else to take a new job, literally hundreds of people sell their homes in Illinois every day. For most people, their home is the most valuable asset that they own and the largest investment that they will make in their lives. This being the case, doesn't it make sense to get help from a qualified professional when you buy or sell your home?

A real estate attorney can help you make sure that your home is ready to sell before you put it on the market. The attorney can sit down with you and look at the various documents that you have, including the deed, the survey, and the mortgage, and help you get all of the legal paperwork in order so that you will be able to sell the property without a last-minute "gotcha" popping up.

Once a property is actually on the market, a real estate attorney can help a potential buyer draft an offer for the property, or the attorney can help a seller evaluate the offers that he has received. When an offer has been accepted and it comes time to turn the offer into a contract, the attorney can make sure that the contract is in the proper form and that it contains all of the important items, such as:

    • the agreed-upon price;

    • the amount of earnest money required;

    • any financing terms;

    • issues relating to title insurance;

    • the closing date;

    • the payment of taxes that may be due to local or state authorities;

    • inspections; and

    • the actual transfer of possession.

    Even if the contract is written by someone else, it is a good idea to have a real estate lawyer look over the contract before you actually sign it. Whether you are the buyer or the seller, it is important to ensure that the contract contains the terms it needs to contain and that it does what you think it does.

    When it comes time for the closing, it is important to have a good attorney represent you. Although most closings are straightforward, the process can also become complicated, and under either circumstance a good lawyer will be a big advantage to you. A qualified lawyer can take care of the details, including making sure that all of the existing loans that are secured by the property are paid off, that all of the appropriate disclosures have been made, that all of the conditions of the contract have been complied with, and that the paperwork accurately reflects the deal. In addition, your attorney will handle any last-minute matters that may pop up.

    Although you probably will not find an attorney who will work for free, an experienced real estate lawyer is often able to work quickly and efficiently, and you may be surprised at how inexpensive the lawyer's services are when compared to the total amount of money involved in a sale of property. But, inexpensive or not, the lawyer's services can be invaluable. Perhaps the best way to think of a real estate lawyer is as an insurance policy that will help the largest deal you may ever be involved in go smoothly and without a hitch

    This website is not intended to constitute legal advice or the provision of legal services. By posting and/or maintaining the website and its contents, Lucas Law does not intend to solicit business from clients located in states or jurisdictions outside of Illinois wherein Lucas Law or its individual attorney(s) are not licensed or authorized to practice law.

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