What Does a Real Estate Lawyer Do?

When you are thinking about buying or selling a home in Oak Park or elsewhere in Illinois, it is important to work with a real estate attorney. While you might think it is possible to learn about Illinois real property laws on your own and handle any aspects of your real estate closing while avoiding legal fees, you should remember that real estate law is complex, and having an attorney on your side is always a good idea. If you are considering hiring a real estate attorney, you are probably wondering what they do and how they will help you with your sale or purchase. The following are some of the key ways in which real estate lawyers in Illinois assist buyers and sellers.

Preparing and Reviewing Documents

The purchasing or selling of real estate involves drafting and reviewing a substantial number of documents, for which a real estate attorney is essential. Important documents to be prepared and reviewed include the deed, the mortgage, any disclosures, and the contract.

Handling Contract Issues

A real estate attorney can help early on with any negotiations concerning the sale price of the property. During the real estate sales process, a wide range of contract issues can arise. A contract term might raise problems given changed circumstances for the buyer or seller, or one of the parties might fail to uphold the terms to which they have agreed, for example. Whenever there are concerns about a contract issue or a breach of contract, it is essential to have a lawyer to help.

Performing Due Diligence and Other Necessary Steps

Real estate lawyers look for tax and title issues prior to purchase that could pose problems. If you have any questions about the kinds of steps involved in due diligence before buying or selling a property, a real estate lawyer can help.

Facilitating the Real Estate Closing

While Illinois law does not explicitly require you to have your own attorney for a real estate closing (as some states do), having an attorney to facilitate the closing is extremely important. At the closing, your real estate lawyer can ensure that all necessary paperwork is completed, can respond to any concerns you have, and can gather any final documentation or materials necessary for the real estate transfer to be complete.

Answering Legal Questions That Arise

There are many legal issues involved in buying or selling property, including questions about title issues, taxation matters, loan obligations, disclosures, fees, and more. Whether you have questions early in the process of buying or selling real estate, or you have an inquiry after all documents have been signed and the closing has occurred, a real estate lawyer can help.

Contact a Real Estate Attorney in Oak Park Today

Whether you have questions about real estate law and how an attorney can help, or you are ready to buy or sell real property and need assistance, our experienced Oak Park real estate attorneys can help. Do not hesitate to get in touch with us to find out more about how we can assist you with your real estate closing and other aspects of the purchase or sale process. Contact the Emerson Law Firm today for more information.



See Related Blog Posts:

How Do I Choose Between a Short Sale and a Chapter 13 Bankruptcy to Avoid Foreclosure?

Top Things to Know About a Short Sale to Avoid Foreclosure

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