Chicagoland Home Buying – Do I need a Real Estate Lawyer?
Real estate agents, lenders, home inspectors and title companies are important participants in your real estate transaction, but they cannot provide you with legal advice. Unless you have your own legal representation, you are at a disadvantage.
Only your attorney can provide you with specific legal advice that addresses your needs and protects your interests.
Using the real estate legal services of Angelina & Herrick can help you avoid expensive pitfalls and problems when buying a home. We begin by providing you with clear, definitive explanations about your rights and your options. We provide you with legal consultation about contractual matters, financing disclosures, settlement documentation, closing procedures and more.
There are also many unpredictable situations that can arise during a real estate transaction. They might be caused by simple miscommunication or oversights between the various parties involved. In other circumstances, the matters can be serious and contentious, with large sums of money at stake.
Having your own attorney helps ensure that any errors or disputes are resolved to your satisfaction. We also help protect you from contractual liabilities, such as a “failure to perform” if you are unable to complete the transaction due to events beyond your control.
Here are some of the real estate transaction elements we typically review and address:
- Types of legal ownership and your options
- Mortgage clauses
- Homeowner/Condo association rules and financial reports
- Deed restrictions
- Purchase contract
- Negotiated terms & modifications
- Escrow funds
- Bill of sale for personal property
- Home inspection report & issues
- Title condition and lien resolution
- Settlement disclosures
- Closing and conveyance documentation
- Recording of deed