When buying and selling a home, you may encounter situations that could cause a dispute or delay in the process. A home is often the single largest purchase a person will make in their lifetime; working with law firms that have extensive experience in real estate can help prevent many problems that might otherwise arise during even the most routine real estate sale.
The title commitment is the title insurance company’s “promise” to issue an owner’s title policy for the property on the same terms, conditions and with the same exceptions as shown on the title commitment.
Otherwise known as a H.O.A., it is a group of homeowners who have decided to form an association which can govern everything from whether or not renting out properties is allowed to the color of the façade.
FSBO means For Sale by Owner. This is when a Seller decides to try to sell their home without the expertise of a licensed realtor.
A contingency is a specific date in the purchase contract by which a specific thing needs to be done. One example is the “professional inspection” contingency. This is the date by which the inspection needs to be completed and any repair requests need to be submitted in writing to the Seller
These are the costs incurred by the Buyer and Seller to transfer ownership of the property. Some of these include the costs to originate the loan, perform an appraisal, run your credit, attorney’s fees, title fees, and recording fees.
As a respected law firm, we understand that each real estate case is unique, with its own set of complexities and requirements. Determining the cost of legal representation is a highly individualized process, and we are committed to providing personalized attention to every client.
To provide you with an accurate estimate, we invite you to schedule a consultation with one of our experienced attorneys. During this initial meeting, we will carefully assess your specific needs and discuss the details of your case. Our goal is to offer you transparent, fair, and customized legal services, and the consultation will allow us to present you with a tailored estimate.
We value your trust and are dedicated to helping you navigate the legal aspects of your journey. Please contact our office to arrange a consultation, and we will be delighted to assist you.
This FAQ page is published as a general information resource. This FAQ page is not legal advice, nor should it be used as such. This FAQ page does not apply to any specific facts, matter or person. All situations are different.
Anyone seeking legal advice should speak to their attorney. If you need to speak with an Illinois business attorney about a specific matter, please set up a free consultation through our website contact us page or by calling our main office at (312) 216-5174
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