The Importance of Hiring a Real Estate Attorney

Crystal Lake Real Estate Attorneys

The Importance of Hiring a Real Estate AttorneyIdeally, buying or selling a home should be a simple, straightforward process. In reality, however, that is often not the case. Due to major legal and regulatory changes in recent years, real estate has become a complex area of the law. Along with federal and state laws, there could be municipal and county laws that will impact the transaction. In fact, many different issues may arise during the course of even a typical real estate matter. To better prepare yourself to handle these issues, consider consulting an attorney even before you sign a contract to sell or purchase a property. Be sure to work with an attorney who is specifically experienced with real estate matters, and also knowledgeable about the area where the property is geographically located.

How a Real Estate Attorney Can Help You

There are numerous benefits to hiring an experienced real estate attorney. In fact, all things considered, the reasonable fees associated with the legal services that the attorney provides is one of the greatest values in a real estate transaction. In addition to advocating with your best interests in mind, as well as advising you regarding the legal and practical aspects of your sale or purchase, the attorney will also provide many other essential services, such as:

  • Review the contract and supplemental documents
  • Offer advice and negotiation regarding inspection issues
  • Monitor critical dates (E.g. Home inspection and mortgage contingencies)
  • Review and clear title, as necessary
  • Prepare conveyance documents, as necessary
  • Attend closing to review and explain all necessary documents with the client

Naturally, selling or buying a home involves a lot of paperwork. Much of this paperwork, including the contract itself, will contain dense text with legal terms which you may not recognize. Your lawyer will interpret that legalese and advise you about what action to take next – whether to sign the documents “as is” or whether to propose revisions to create more favorable terms for you. You can also discuss other atypical agreements with your attorney to determine if they are appropriate for your particular circumstances. Some common examples include:

  1. Leases with an exclusive option to purchase the property;
  2. Post-Closing Possession Agreements;
  3. Repair Escrow Agreements; and
  4. Property Tax Reproration Agreements.

Numerous other legal issues may arise throughout the course of the transaction. Some may be easily resolved, while others could require a proper strategy combined with vigorous negotiation in order to find common ground amongst the parties. Your attorney can also advise you about the possible consequences for failing to comply with the terms of the contract. In addition, he or she can review with you the potential legal issues regarding tenant and landlord issues.

Allow Our Experienced Real Estate Attorneys and Staff to Serve You

If you are considering selling or purchasing a real estate property in the near future, work with an experienced BGL real estate attorney who can guide you through each step of the process. Our office currently has several experienced attorneys who represent clients in all types of real estate matters. In addition, we have a full support staff, including a dedicated real estate paralegal. This structure enables us to provide an exceptional level of service to our clients. In addition, the BGL real estate practice group truly understands the important role that other real estate professionals, such as brokers and lenders, have in the success of real estate transactions. Accordingly, we firmly believe in utilizing a team approach, which includes communicating promptly and effectively with all parties throughout the entire transaction. Contact our firm today at 815-338-8383 to schedule your initial.

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