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Real Estate

Thursday, May 16, 2019

What Happens if You Inherit a Property in Foreclosure?

 Knowing what will happen to your home or real estate properties after you pass is an important part of proper estate planning. However, it is an unfortunate fact that many elderly people face challenges paying their mortgages. This can add to the already daunting legal challenges that come with planning an estate, and sometimes properties our pass to inheritors in a will while the property is undergoing foreclosure proceedings. These circumstances raise unique legal issues that must be addressed with the help of a good real estate attorney.

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Tuesday, May 7, 2019

What Happens If Your Landlord Defaults on the Mortgage?

What happens if your landlord ends up in foreclosure after defaulting on the mortgage? In most U.S. jurisdictions a tenant cannot be immediately evicted or forced to leave a unit when a landlord is in foreclosure. And no matter how dire his financial straits may be, landlords are not permitted to turn off utilities, change the locks, or board up a building. And if any of these things have happened to you – call M&A Law Firm today.



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Tuesday, April 23, 2019

Mortgages 101: What Every Homebuyer Needs to Know

When you’re purchasing your first home, it’s easy to think that you’re saving time and money by not working with a local real estate attorney. However, a good real estate attorney can help guide you through the increasingly complex process of securing a mortgage that works for you. This will not only help you save money over the long-term, it will also help you avoid the costly and traumatic experience of going through a foreclosure.


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Tuesday, March 26, 2019

What is a Short Sale, and How Can It Help You?


Generally, people do not pay cash upfront for their first real estate purchase. Instead, most homes are purchased using a mortgage. Mortgages charge fees and interest, which means they can drive up the price of the home purchase. Most people expect their home to appreciate in value over time to cover this extra cost. However when it does not, home buyers may find themselves considering a short sale.


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Tuesday, March 12, 2019

How Hiring an Attorney Can Save You Big on Closing Costs

After you save for a down payment, find the house of your dreams, secure your credit and get approved for a mortgage you submit an offer. In some markets – particularly the high-demand Chicago neighborhoods – this can be substantial. Even after the offer is accepted, however, there is still the final hurdle to homeownership—the pre-closing process and closing itself. Unless you’ve been in the real estate game for a long time, the sheer magnitude of the mounting expenses can go well beyond what you believed you had to pay for your new home. It’s enough to send any sane person running. Luckily, having a good real estate lawyer in your corner during the final countdown can make all the difference, even when it comes time to pay the closing costs on your new home.

 


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Tuesday, March 5, 2019

What Every Real Estate Investor Needs to Know About Wholesaling

Wholesaling real estate has become increasingly popular over the past few years in Chicago, particularly the south side and around Cook, Kane and Dupage County in general. In this potentially profitable endeavor, wholesalers sell their properties to buyers who are looking to pick up multiple real estate investments at once. Wholesaling real estate has become a useful way for real estate investors to capitalize on niche markets. However, while wholesaling can be used as a strategic approach for real estate investors with large portfolios, it’s a process that must be carried out very carefully. The legality of wholesaling in real estate is not nearly cut-and-dried, so it’s critical to have the assistance of a good real estate lawyer before attempting this complex transaction.


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Tuesday, February 26, 2019

Closing Costs May Add Unanticipated Expenses to Your Home Purchase

For many, purchasing a home is a lifelong dream. However, buying a house is a complicated undertaking that raises a great deal of legal and financial liability. In fact, the costs and challenges associated with closing on a home are too great of a burden for many Americans to shoulder. For these unfortunate individuals, homeownership may be impossible. A skilled real estate lawyer can help you manage closing costs and surmount all of the legal and financial barriers to homeownership.

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Wednesday, February 20, 2019

Short Sales and Foreclosures – Confusing Similarities and Critical Distinctions

When people are unable to live up to their commitments in a real estate financing arrangement, they often find themselves facing a foreclosure or a short sale. However, the rights and responsibilities associated with the different options facing real estate borrowers in default vary greatly. A good real estate lawyer can help mortgage borrowers manage their various options, each of which offer different degrees of legal and financial liability.


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Wednesday, February 13, 2019

Entering a Commercial Lease? Get a Real Estate Lawyer.

Despite the outward inconvenience of yet another step in the commercial leasing process, signing a lease without having it reviewed by a real estate lawyer could end up being one of the most significant mistakes a new business owner makes when executing a commercial lease.

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Tuesday, January 8, 2019

The Benefits of Real Estate Law To Homeowners


For many people, homeownership is a great source of pride and joy. And why shouldn't it be? In a society where real estate properties get more and more expensive by the day, being able to buy a house is indeed a great accomplishment.

 

While there's no denying the tremendous amount of safety and security that comes from knowing you'll have a roof over your head for the rest of your life, the benefits of owning a home go way beyond that. Your property appreciates in value and builds equity over time. Moreover, federal and 


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Monday, September 24, 2018

Providing for a Fiscally Irresponsible Heir

You’ve spent your life working hard and making good investments. Now that you have wealth, you want to make sure your family is taken care of. There’s just one problem: you just know that an heir you love dearly will squander your money. Rather than cut them out of your will, you should consider other trust-related options to provide for them. Read on to learn more about how you can provide for a fiscally irresponsible heir.


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