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What is the Role of a Real Estate Attorney in Illinois?

What is the Role of a Real Estate Attorney in Illinois?

Are you purchasing or selling a property in Illinois? If so, hiring the right Illinois real estate attorney can dramatically simplify the process by helping the transaction and its aftermath go as smoothly and easily as possible.

What Does a Real Estate Attorney Do in Illinois?

A real estate attorney in Illinois can serve many purposes throughout the various stages of buying and selling a property. Here are just some of the services a real estate attorney may offer:

  • Preparing documents – An attorney can prepare purchase agreements, disclosures, contracts, and other relevant legal documents. They can also review existing documents so that you don’t sign anything with unfavorable terms.
  • Performing title searches – A title search verifies the ownership of a piece of property and determines whether there are any liens on that property. It is typically an essential step in a real estate transaction that an Illinois real estate attorney may perform on your behalf. If the lawyer discovers any title issues, they can address them before proceeding with the transaction.
  • Coordinating with other parties – A real estate transaction can involve many parties, including realtors, banks, title companies, and anyone performing inspections, not to mention the sellers and buyers. An Illinois real estate attorney can facilitate communication among all parties on your behalf, freeing you to focus on other matters.
  • Explaining costs – A real estate attorney can explain the cost of a property and the factors affecting its value. They may also explain the various expenses and closing costs that can arise throughout the process of buying or selling a property. You may find it’s easier to budget for a real estate transaction with a legal professional explaining these matters.
  • Addressing post-closing issues – Ideally, closing will go smoothly and without a hiccup. However, issues sometimes arise even after the most careful planning. For example, maybe a property owner failed to accurately represent some element of the property’s condition. A lawyer may help you navigate these issues and protect your rights.

 

A lawyer can also thoroughly explain the terms of a contract. Don’t underestimate the value of this service. Real estate contracts and other legal documents are often very complex. Having a lawyer explain these matters to you can help you avoid accidentally violating the terms of a contract. Perhaps more importantly, a lawyer can help you better determine if a contract’s terms are fair or if you need to continue negotiations or walk away entirely.

How to Choose a Local Illinois Real Estate Attorney

You already know experience is important when hiring any lawyer and that you want to choose a real estate attorney who is qualified to serve your needs. You can start your selection process by asking friends and trusted acquaintances for recommendations. A web search is also helpful. Look for accreditations, awards, and testimonials from past clients. Consider arranging an initial consultation so you can ask a prospective attorney about your particular situation before taking the plunge.

Contact an Illinois Real Estate Lawyer

Ready to get started? At the Law Office of Vogel & Mourelatos, LLC, we offer over 30 years of combined experience in real estate law, and we want to put it to work handling your unique case. Contact us online today for more information about our services.

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