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Real Estate

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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Thursday, September 20, 2018

What Happens When a Creditor Forecloses on Your Property?

We’ve all heard the phrase “foreclosure,” but do you know what it means, what it involves, and when it is triggered? Many homeowners do not, as they figure it will never happen to them. While there are encouraging signs about a growing economy, we are still not out of the woods when it comes to foreclosures. All homeowners need to know how foreclosures work and should be able to recognize the warning signs that they are at risk of foreclosure.


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Monday, September 17, 2018

What Does it Mean if There is a Covenant on My Land?

When most people purchase property, they expect that they will be able to do whatever they want with the property. However, many people are surprised when they learn that the property they intend to purchase comes with something called a “covenant.” What is a covenant and what does it mean for you if you are purchasing property that comes with a covenant?


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Wednesday, August 29, 2018

Buying a Property with a Pre-Existing Mortgage? Understand Your Options!

A large number of home sales in the United States are financed by mortgages, and when these homes go back onto the market many of them are still mortgaged. Home buyers are frequently presented with the option to “assume” the mortgage or buy the property “subject to” the mortgage. Understanding the difference is important for every buyer considering these options.


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Tuesday, August 21, 2018

Buying a House for the First Time? Here’s What You Need to Know About Good Title

Buying your first home is very exciting! It can also be very overwhelming given how many different steps are involved. One of the most important things to be aware of is ensuring you have “good title” to the home you purchase. What does good title mean and how do you know when you have it? Read on to learn more.


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