What Does an Illinois Real Estate Attorney Do for Buyers or Sellers?
May 6, 2022
Regardless of whether or not an individual is buying or selling their home, there is a litany of things that they need to be concerned with. They have to be concerned with finding the right real estate agent or realtor in order to help them with the transaction, review the title of potential homes that they may be buying, review the title their own home, or to review the plat of survey showing the property layout to see whether or not there are any kind of easements or encumbrances on the property in question. So there are an abundance of concerns that an individual engaged in real estate in the state of Illinois.
What an attorney can do, regardless of whether you’re a buyer or seller, is to take a good amount of stress and strain that one may experience completely out of the picture. There is, of course, the initial contract that is signed between the parties that the attorney can review. They can inform the individual as to what issues, if any lay within the contract.
The property inspection that needs to be completed on any home will carry things with it that you may not have noticed during your initial or any subsequent walkthroughs. Those could be things like, is the property located on a floodplain? What’s the insurance going to be like in those instances? Attorneys can help you negotiate the little things with the other side. Most importantly, the attorney has the ability to help you navigate through the closing. It requires a good amount of time and extensive amount of paperwork that needs to be signed by both parties.
Do I Need Both a Real Estate Agent and A Real Estate Attorney for A Transaction in Illinois?
Having both a real estate agent and a real estate attorney can make your life exceptionally simpler than going without us. As you may already be aware, not having a real estate agent puts a considerable amount of strain on an individual to actually sell their home, or at least help them find potential buyers to buy their home. Some people go the route of choosing to sell and purchase property on their own, but it would behoove anyone to consider the amount of time that you would have to invest in order to find potential buyers or potential sellers of the property. You have to consider the amount of time that you are willing to invest in it. This is especially true for real estate attorneys as well.
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