Chicago Real Estate Lawyer

Chicago Real Estate Lawyer

Are you looking for a Chicago real estate lawyer?  I represent buyers and sellers of residential real estate and commercial real estate in the Chicago, Illinois area.  Pleas visit Chicago Real Estate Closing Lawyer for details or see below.  

Chicago real estate lawyerWhat does a Chicago real estate  lawyer do?   In the Chicago area, a real estate lawyer performs the following tasks for the seller:

  1. First, reviews the sales contract and calendars important dates (attorney review, inspection deadline, mortgage financing contingency and closing date);
  2. Responds to extension requests (attorney review period, inspection deadline, mortgage financing contingency date, closing date);
  3. Reviews the real property disclosure, lead-based paint disclosure, and radon disclosure;
  4. In addition, reads the proposed modifications to the real estate contract and advises the seller regarding same;
  5. Responds to the inspection-repair letter from the buyer’s lawyer and negotiates repairs or a closing credit;
  6. Orders a title search and clears any title issues or encumbrances;
  7. Reviews the owner’s title insurance commitment and sends it to buyer’s real estate lawyer;
  8. In addition, orders the lender’s title insurance policy for the buyer and sends the related title commitment to lender;
  9. Drafts the deed, bill of sale and affidavit of title;
  10. Explains each document and its legal consequences to the seller;
  11. Prorates the property taxes and association dues through the closing date;
  12. Directs seller to order the mortgage payoff letter;
  13. Completes the City of Chicago full payment certificate aka water certificate and directs the title company to order same;
  14. Schedules the closing with the title company;
  15. Finally, reviews the HUD-1 or closing statement prior to the closing and again at the closing table.

There are many important tasks to perform leading up to a real estate closing.  Therefore, it pays to retain a Chicago real estate lawyer. Contact me at 773.307.0181 or Brian@BrianThompsonLaw.com.