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What Does a Real Estate Attorney Do for a Home Buyer in Illinois?

By Ann Fischer

Find Out How Hiring a Real Estate Attorney in Schaumburg for Your Home Buying Needs Can Ensure a Successful Real Estate Transaction.

Navigating a real estate transaction involves a comprehensive process. Whether buying commercial property or a home, it includes negotiations, thorough inspections, contract drafting, revisions, and numerous contract alterations before both parties can proceed to the closing phase.

If you’re a property buyer or in Schaumburg or the greater Chicagoland area, a real estate attorney will be dedicated to representing your best interests throughout the entire real estate transaction. From negotiating and validating contract details to meticulously reviewing all pertinent information, an experienced real estate attorney plays a pivotal role in guiding you through each stage of the process. Your attorney is committed to protecting your interests until your transaction concludes successfully, providing you with a sense of security.

How Can Our Real Estate Attorneys Assist Home Buyers in Schaumburg, IL?

When purchasing real estate in Schaumburg, your real estate attorney will assist you in creating a modification letter or a list of items you wish to be repaired or changed before the property’s closing. This list encompasses items discovered during the home inspection, and an experienced real estate attorney can provide additional insight into potential modifications and protection against previous claims, such as mechanical liens on the property. Below are common areas where a real estate attorney can help a home buyer.

Structural Issues

Even if a seller discloses defects, structural issues, or other concerns with a property, unforeseen problems are still possible that, if unaddressed in your purchase agreement, could lead to significant financial implications or liability in the event of a serious problem. Having a real estate attorney by your side can help you identify and address these issues, potentially saving you from devastating and substantial financial losses and providing relief.

Property with Existing Tenants

Whether you’re acquiring an investment property or commercial office space with existing tenants, your real estate attorney will apprise you of all contractual obligations, statuses, and relevant information concerning each tenant’s up-to-date payment status.

Short Sales and Foreclosure Properties

Properties that are subject to short sales and foreclosures are more likely to have mechanical, structural, or other defects. These defects prompt the seller to expedite the property sale or result in foreclosure due to the previous property owner’s inability to remain current on their payments. In such instances, retaining an experienced real estate attorney offers personal and investment protection when dealing with distressed properties.

Contract and Document Reviews

Yes, a real estate lawyer is crucial when buying a home. The paperwork involved in purchasing real estate can be overwhelming, often filled with legal jargon that may confuse anyone without a legal background. A real estate lawyer working on the buyer’s behalf can clarify the terms and ensure the contract is clear and concise, making it easier for the buyer to understand what they agree to before signing. In addition to reviewing contracts, a real estate lawyer can draft agreements and any other necessary documents during home-buying.

Liens and Title Searches

A real estate lawyer is essential in speeding up the lien and title search process when buying a home. A title search is necessary to confirm that the property is free of any prior claims that could hinder the purchase. If issues arise during the lien or title search, such as unresolved liens, a real estate lawyer can help resolve them, ensuring the buyer can proceed with the purchase without legal complications.

Closing Process

Closings can be complex, often involving disputes over costs and other legal details. A real estate lawyer present during the closing process can protect the buyer’s interests by addressing critical issues and ensuring a smooth transaction. A real estate lawyer can prepare the necessary closing documents, which may include:

• The amount of earnest money paid.
• The time and date the payment was made.
• When funds are transferred to the escrow account.
• When the seller receives the final payment.

If any issues arise during the closing, such as a failed transaction, the real estate lawyer can guide you on how to handle escrow holdings, down payments, and other payment options. They can also advise you on your legal rights and responsibilities in such a situation, keeping you informed and protected.

Need Assistance with Your Home Purchase?

Navigating the home-buying process can be complex and confusing without the proper guidance. A real estate attorney can provide the protection and expertise you need. Before making your next residential purchase, contact one of our experienced Schaumburg real estate attorneys at Gardi, Haught, Fischer, and Bhosale to ensure your buying experience is successful. We can help home buyers throughout the Chicagoland area. Call us at 847-944-9400 or request a free evaluation below.

Client Testimonials

Jimmy Su

We just had great experience with Tom Haught and his paralegal Courtney Kropf. The communication is clear and fast. All emails were replied within 30 minutes. We will definitely work with Tom Haught again.

Sagar Kanabar

Jeannette Gonzales

Was recommended to them from my company. They did an excellent job and always answered all my questions. Were always upfront with all things and made sure I understood everything that was explained to me.

Ardus

We used the law firm during the sale of our house. We dealt with Mr Haught and Courtney, who made the process very smooth. They were professional, yet very friendly to deal with.I would not hesitate to recommend them to my family and friends.

vanissa colaco

Our immigration experience with Ann Fischer has been amazing! She has been meticulous, organized and worked on our case in a timely manner. Ann and her team went above and beyond to address all of our concerns and provide a personalized support which made a significant difference during our stressful time.I highly recommend her services to anyone seeking legal representation for their immigration matters.

Mike and Keeley Aulert

We have used Tom Haught for two home purchases and one sale over the years and continue to be impressed by his professionalism, responsiveness, and thoroughness. Reasonable pricing too. Highly, highly recommended.

Waseem Chaudhry

Gardi, Haught is one of professional firm, I have been with G&H since last 8 years in all legal matters.RegardsWaseem Chaudhry

Khurram Ghani

Tom and his dedicated crew recently helped me close on a commercial property, and I must say they did an exceptional job! Throughout the entire process, they were incredibly responsive, attentive to detail, and a pleasure to work with. Their professionalism and expertise made the transaction smooth and efficient. I am thoroughly impressed with their performance and definitely plan to work with them again in the near future. I highly recommend Tom and his team for anyone in need of real estate services!

Ryan B

I'd like to thank Gardi, Haught, Fischer, & Bhosale LTD and the whole Team! For amazing service. They made my selling experience fast, easy and at my convenience. I'm very thankful for the whole team over there. Their service meant alot to me and will be using them in the future. 10/10 !

Roberta Murphy

We worked with Tom and Courtney mainly on our recent closing. While it did not go as planned (all the other side’s issues) they did a great job keeping us informed and in track. Highly recommend.

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