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:

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