Will County, IL Spanish Speaking Attorneys

Will County, IL Spanish Speaking Hispanic Real Estate Transaction Attorneys

what is a real estate lawyer

Illinois real estate law comes with a long list of potential problems. Whether residential or commercial, buying, selling or leasing, new construction or renovation, real estate businesses can generate legal problems.

When problems arise, or you want to make sure they do not occur, talking to a real estate expert attorney from our Illinois office and other offices can be helpful.

Bienes Raíces Residenciales

In addition to providing representation during closing, we can prepare and negotiate contracts, review transaction documents, communicate with the other party’s Illinois property transaction attorney and help resolve issues at closing.

Bienes Raíces Comerciales

Commercial leases can involve considerable amounts of money, long terms and major obligations. We have experience in representing both landlords and tenants, and we can advise and assist in negotiating important lease terms such as security deposit, property improvements, sublease and lease, lease renewals and tax assignment , Insurance and maintenance costs.

 

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Lawyers Fees For Real Estate Transaction

realestate lawer


Escrow Issues


What is an escrow and an escrow agent? What does it mean to have funds or documents in escrow?


An escrow agent is typically a third party designated to hold an item (usually funds, but sometimes certain documents, such as a deed and/or mortgages) for a certain time or until the occurrence of a condition, at which time the escrow agent is to hand over the item to another party.  Typically the escrow agent will be the title company, and the funds and documents that they are holding include any deposits made under the contract to purchase the property, as well as the deed and the mortgage instruments.  In many home purchase contracts, the initial deposit or earnest money will be held by an escrow agent until the closing.  In some states, the entire closing happens through an escrow agent, with all funds and documents being collected and distributed in the manner required by specific and detailed written escrow instructions.






 


Zoning Issues


How does the buyer know how the land surrounding the property will be used?


Typically, the seller does not guarantee how the area surrounding the property will be used.  Some purchase agreements ask the seller to warrant what the seller knows about surrounding property uses that might interfere with the use of the home, but many do not.  If a buyer is concerned, he or she should contact the property appraiser or tax collector for the county in which the property is located and determine who owns the surrounding land, or speak to the zoning or planning department of your local municipality prior to purchasing the property to understand how surrounding uses may affect you.  The title commitment only discloses information about the property being purchased and does not attempt to inform the buyer about surrounding uses.  Sometimes a survey will identify the owners of any immediately adjacent parcels.  The purchaser needs to take responsibility for finding out what uses may affect him or her. The buyer can ask the neighboring property owners if they know of plans to develop land surrounding the property.  The buyer may also wish to talk with the building or zoning office of the local municipality to confirm the zoning of surrounding property so as to know what kinds of uses might be made in the future, although zoning can be changed.



What Do Real Estate Lawyers Do For You?

real estate attourney

A Real Estate transaction has a lot of paperwork and legal documentation needed to be read and done. Not all real estate agents and sometimes company will discuss to their clients the lengthy terms and conditions of each deals. Most victims of real estate scams and frauds handled the transaction and transfers by themselves and have suffered harsh consequences. It is better to start any transactions with legal papers with a reliable lawyer who is knowledgeable in every nooks and cranny of the real estate industry. These kind of legal aid is what we call real estate lawyers. But, what are they really and what will they do for you? A Real Estate lawyers' basic job is to read, understand and summarize legal agreements for you.


If you are purchasing, real estate lawyer duties are:



  • Review of the Agreement of Purchase and Sale and Status Certificate where applicable

  • Arrange and review land title search

  • Request other required searches

  • Obtain information regarding satisfaction of conditions/deliverables

  • Request and obtain title insurance

  • Prepare and register transfer

  • Prepare and register charge for client and lender



  • Receive mortgage funds and rest of closing funds in trust

  • Receive keys and deliver to client once released, release closing funds

  • Report to Lender and to client

  • Advise municipality of change in ownership


If you are selling, real estate duties are:



  • Obtain property tax information from client or from City

  • Receive, review and respond to requisitions

  • Obtain mortgage pay out statement if there is a mortgage

  • Review and release transfer

  • Pay out existing Charge

  • Attend with client for review and execution of closing documents and obtain keys from client

  • Receive closing funds in trust and pay out existing encumbrances and real estate commissions

  • Deliver key to Purchaser and release keys

  • Discharge existing mortgage

  • Advise municipality of change in ownership


The most important job a real estate lawyer does for you is to protect from you fraudulent transactions and other scams. If a transaction goes haywire it is their duty to go to court to file legal complaints.


It is really necessary to have a real estate lawyer to back you up in all your property deals but it is your job to inspect the credentials and reliability of the real estate lawyer you want to employ.

How To Find Real Estate Lawyer?

real estate law degree

Chicago Real Estate Law’s Comprehensive Business Approach From Start To Finish


Chicago's Finest Real Estate Lawyers offers you and your business viable real estate and business solutions, higher value propositions, and a greater return on investment. Each of the incredibly experienced real estate and business attorneys at Chicago Real Estate Law, posses nearly 20 years of experience and know-how in representing clients from individuals to billion-dollar institutions. With a team of seasoned attorneys, the capabilities of Chicago Real Estate Law range from government representation to project management, in the eyes of the law.


A Turnkey Approach To Real Estate Projects And Perspectives With Chicago Real Estate Law


Chicago Real Estate Law comes equip with comprehensive legal background and project management experience. With a multitude of different perspectives offered to real estate projects, Chicago Real Estate Law is prepared to handle projects both large and small. Our real estate and business approach focuses on saving you time, money, and simple solutions that dramatically out perform the competition. With our successful business model, you’ll outshine the competition and make more informed decisions.


Additionally, Chicago Real Estate Law is focused on a strong return on investment. Our attorneys are experienced in ground-up real estate development projects and saving you thousands of dollars in your timely process. With a history of record opening times and overcoming unforeseeable obstacles, Chicago Real Estate Law is ready to guide you through your entire real estate project process.


Illinois Real Estate Law’s Legal Experience Can’t Be Matched With A Unique Approach


Attorneys In Chicago Specializing In Real EstateBy carefully crafting legal documents, win-win contracts, and other specific documents for your real estate or business project, Chicago Real Estate Law’s legal and project management experience is ready for the challenge. We offer much more than just legal advice, by adding a broader project management approach that includes both legal and practical implications in your project. Chicago Real Estate Law is solution-orientated and cost considerate. With a FREE 30 minute consultation every month, our attorneys encourage you to call with any concerns you may have about your legal standpoint.


The attorneys at Chicago Real Estate Law are focused on establishing a nurturing and long-term relationship with all clients. We appreciate that business owners’ are not looking for a run-around approach to business, and offer the most effective way to maximize your return on investment.