Will County, IL real estate law is a very complex area that not all lawyers know about. Whether you are buying a home or trying to sell a land, or simply need to solve a problem of proximity, the assistance of an experienced Wilmington real estate transaction lawyer is important to ensure that your interests are being protected.
At our Wilmington offices we offer you a comprehensive Spanish speaking representation in real estate law. With more than 30 years of experience and practical and innovative solutions, we have successfully represented thousands of clients throughout Illinois.
Abogados Espanoles Illinois
When you hire our Hispanic real estate attorneys in Wilmington IL, we do extensive analysis of your situation. Work together with you to know and understand your concerns so that we can present the options and / or alternatives available to you, always taking into account that our route is to obtain a positive result for you.
Best Wilmington Spanish Speaking Lawyer
Why You Need A Real Estate Lawyer?
Illinois Residential Real Estate Attorneys
Residential real estate transactions have high stakes for both buyers and sellers. Often these transactions involve an individual or couple’s single greatest asset. Making sure that your rights and financial interests are protected when you buy or sell a house is very important. At the Law Offices, we help both buyers and sellers through the real estate process. Attorneys are knowledgeable in all areas of residential real estate law and has the experience to ensure there are no surprises in your real estate transaction.
Legal Representation for Buyers and Sellers in Illinois
Having an experienced attorney to represent you in your real estate transaction is recommended at every step of the process. From negotiating a purchase agreement through closing, experienced legal guidance can help you avoid numerous pitfalls. We work with clients of all experience levels from first time homebuyers to seasoned real estate investors offering the following real estate services:
Negotiations between buyers and sellers, Preparations of purchase and sale agreements, Review of titles, Review of purchase offers, Review of loan documents, Review of construction agreements, Assistance with title insurance, Assistance resolving title problems, Preparation of deeds, Establishment of escrow accounts, Preparation of closing documents, and Attendance at closing
We work closely with our clients to ensure you understand everything that is happening during your transaction and can make informed decisions when necessary.
If you are buying or selling a home and need experienced legal counsel to have your back, contact us to schedule a consultation.
Real Estate Attorney For Home Purchase
Real estate attorneys deal with the many laws and practice areas associated with land ownership issues. For example, a commercial real estate attorney knows which laws apply to commercial transactions for construction/development projects (such as condo construction), or land use/zoning projects (such as subdividing a parcel of land for development), or real property issues (such as financing a large land purchase). Likewise, residential real estate lawyers help you buy a home, or prevent you from losing your home in foreclosure. They also know how residential tenancy laws work and can advise you of your rights as a tenant. With so many types of real estate attorneys, it is important to find a specialist who does the work you need.
Real Estate Lawyer Versus Agent
What is the difference between a mortgage and a deed of trust?
A mortgage is a document that encumbers real property as security for the payment of a debt or other obligation. The term "mortgage" refers to the document that creates the lien on real estate and is recorded in the local office of deed records to provide notice of the lien secured by the creditor. The creditor or lender, also called either mortgagee (in a mortgage) or beneficiary (in a deed of trust), is the owner of the debt or other obligation secured by the mortgage. The debtor or borrower, also called the mortgagor (in a mortgage) or obligor (in a deed of trust), is the person or entity who owes the debt or other obligation secured by the mortgage and owns the real property which is the subject of the loan.
In almost all cases, the law of the state in which the property is located dictates whether a mortgage or deed of trust can be used. Although a deed of trust securing real property under a debt serves the same purpose and performs the same function as a mortgage, there are technical and substantive differences between the two. A deed of trust is executed by the debtor and property owner, to a disinterested third person identified as a trustee, who holds the ownership of the property in trust for the creditor; whereas, when a mortgage is used, title to the collateral remains in the debtor, and the mortgage creates a lien on the real estate in favor of the creditor. In some jurisdictions, the deed of trust enables the trustee to obtain possession of the real property without a foreclosure and sale, while others treat a deed of trust just like a mortgage. In the latter jurisdictions, the deed of trust is governed by the law applicable to mortgages. The deed of trust requires the trustee to reconvey the property back to the debtor when the debt has been paid in full. Assignment of the creditor’s interest does not result in a change of trustee; instead, only the note or other evidence of debt is transferred and the new owner of the loan acquires the prior lender’s beneficial interest in the trust.
What is commercial financing in general?
Financing a property is the standard method by which individuals and businesses can purchase residential and commercial real estate without the need to pay the full price in cash up front from their own accounts at the time of the purchase. Financing for non-residential real estate is generally obtained from a bank, insurance company or other institutional lender to provide funds for the acquisition, development, and operation of a commercial real estate venture. Commercial financing loans are secured primarily by real estate and related assets owned by the debtor. Assets used to collateralize commercial finance loans, aside from the real estate, may include fixtures, equipment, bank and/or trade accounts, receivables, inventory, general intangibles, and supplies. Documents evidencing and securing the loan typically include: loan agreements, promissory notes, mortgages or deeds of trust, assignments of rents and leases, financing statements, environmental indemnity agreements, guaranties, subordination, non-disturbance and attornment agreements, estoppel certificates, and other ancillary documents.
El derecho de bienes raices es una area muy compleja que no todos los abogados conocen. Ya sea porque usted esta comprando una casa o tratando de vender un terreno, o simplemente necesita resolver un problema de colindancias, la asistencia de un abogado experimentado es importante para asegurar que sus intereses estan siendo protegidos.