Buyer or Seller, You Need A Real Estate Lawyer
It’s a good time to buy a home. Both locally and across the nation, all of the economic signs are encouraging. If you do it the right way, buying and selling real estate in the Chicago area doesn’t have to be fraught with anxiety. Whether you’re a first-time homebuyer or a seasoned real estate investor, many of the same rules will apply. With an experienced Chicago real estate lawyer on your side, you’ll know that everything in a real estate transaction complies with the law and with your own best interests. Unlike real estate agents and brokers, a real estate lawyer isn’t paid by commission, so your lawyer can be genuinely objective and fully dedicated to “watching your back” and advocating on your behalf through the transaction and closing. Before you launch any real estate transaction in the Chicago area, the smart move is to consult first with an experienced Chicago real estate lawyer.
Illinois real estate law requires mandatory disclosure. Sellers of a residential property must disclose specific defects and any other problems with the property. Mandatory disclosure assures that buyers know exactly what they’re buying and keeps sellers from being sued for nondisclosure. Whether you are buying or selling a residence, it’s critical to have an experienced real estate lawyer explain how mandatory disclosure affects your particular real estate transaction.
Real estate closings are complicated. Without knowledgeable legal guidance, unless you are trained in real estate, you may expose yourself to unnecessary risk. But if you retain the counsel of a good real estate lawyer at the beginning of the process, you’ll avoid or reduce most of your risks. Don’t wait until the closing to make the call. Real estate is a wise investment. Hiring an experienced Chicago real estate lawyer is also a wise investment. If you’re buying or selling or only now considering a real estate sale or purchase in the greater Chicago area, make the call as quickly as possible.