By Thomas Haught Do you need to retain the services of an attorney to sell your house in Illinois? Technically, the answer is “No.” Practically, the answer is “Of course you do!” When you sell a home in Illinois, your real estate attorney will review the contract, monitor contingencies, order and clear the title, procure

By Thomas E. Haught Although we’ve recently seen home prices stabilize, the number of homes sold is falling, homes are staying on the market longer and interest rates (although, big picture, are still incredibly low) are up. With the likelihood of a recession looming, are we looking at another housing meltdown (think 2008)?  The first

By Thomas Haught Home sales are low – but we’re only a few weeks into the year. I have heard more than one real estate agent say that the first day of the year (for their purposes) is the Monday after the Super Bowl. The Super Bowl is over, so in theory at least, it’s

By Thomas Haught Is real estate still hot, or not? Are current real estate trends good, bad or somewhere in between?  At the beginning of the COVID-19 pandemic, the general assumption was that the real estate market was going to suffer. That did NOT happen. Instead, we saw one of the strongest real estate markets

By Thomas Haught Be your own boss. Make your own hours. You call the shots! Have you ever considered purchasing a small business? Here is a non-exhaustive review of the documents you should expect to receive at your small business closing. Seller resolution. The owner of a small business will almost certainly be an entity,

By Thomas Haught  In my 23-year career, 2021 was the fiercest, most competitive year that I have ever seen for prospective purchasers of a home.   We had homes that were listed at 9 a.m. and were under contract before noon on the same day, while the seller had multiple bids. We saw sellers receiving 20

By Thomas Haught So, you’ve tried to bid on a new home earlier this year, only to have it snatched from you during a bidding war? Did you see that the asking price, or even a higher bid, won over that dream home? You weren’t alone. But that hot real estate market likely won’t last

By Thomas Haught Can an employer require employees to get a COVID-19 vaccine?  Ask 10 experts and get 10 different responses.  Before push comes to shove, the reasonable approach is for employers to simply encourage vaccination.  Allow employees to get vaccinated on work time, without docking pay.  Allow an employee a day off if they

Every year, without exception, new laws go into effect. Generally, all new laws are passed throughout the year and many laws take effect in mid-summer. Let us look at a couple that we will be dealing with after the new year. One exciting change in the law is related to college funds. New babies born

At first glance, buying or selling a home during a pandemic may look impossible. Selling a house is hard enough when conditions are perfect. Even when the economy is strong and we are not experiencing a global pandemic, properties can linger on the market for months. If you add a stock market on a roller

When Governor Pritzker signed HB 1438 into law and legalized marijuana, it created a whole new world. At least here in Illinois. Those 21 and older can now legally purchase and possess marijuana from a licensed dispensary.

NEW LEGISLATION ALERT FOR REAL ESTATE INVESTORS: Wholesale Real Estate By Tom Haught In the last several years, a niche real estate strategy, known as wholesaling, or wholesale real estate, became very popular. Basically, Buyer A signs a contract to purchase a property. But instead of closing on that property, Buyer A sells and assigns

KNOW YOUR CONTRACT: THE MULTI-BOARD RESIDENTIAL REAL ESTATE CONTRACT 7.0 By Tom Haught There’s a new contract in town: the Multi-Board Residential Real Estate Contract 7.0. The 7.0 was approved in 2019 as the new standard contract for purchasing residential real estate in Illinois. The Multi-Board Residential Real Estate Contract 7.0 seeks to correct what

How Do I Avoid Home Closing Delays? By Thomas E.  Haught Home closing delays are really irritating. The contract is signed. The sellers and the buyers have chosen a closing date that works good for them. So why has that closing date come and gone? You ask yourself, why aren’t we closing on time? Unfortunately,

What are the Real Estate Closing Expectations for Buyers and Sellers? By Thomas E. Haught Whether you’re the buyer or seller of a home, the expectations of a real estate closing are easily met with the right attorney by your side. Are you the buyer? Congratulations! You bought a home! If it’s time for your