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.

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.