Real Estate transactions can be very complex. Whether you are buying a home or selling, it is important to have legal representation to protect your interests
Aside from the Real Estate Agent, the seller’s attorney is perhaps the individual most involved with the real estate transaction. If contracted early on, the seller’s attorney can review and negotiate the real estate contract. Later on, it is the seller’s attorney’s responsibility to set up the closing, order title insurance, and a plat of survey. The seller’s attorney drafts all of the documents related to the transaction, including the deed and the bill of sale. Lastly, the seller’s attorney reviews all of the transaction related documents at the real estate closing.
The buyer’s attorney can also play a very important role in the real estate transaction at a very early stage. Seller’s have obligations to make sure their property is fit for sale and the buyers actually get what they pay for. The buyer’s attorney can make sure those needs are met. Like the seller’s attorney, the buyer’s attorney can represent their client in negotiating the terms of the contract, and review the transaction document. However, their job can often go beyond the real estate transaction itself. Most of the buyer’s attorney’s duties in a real estate transaction are related to the financing of the transaction, most often in the form of a mortgage from a professional lending company. It is important to have an attorney represent you when you are applying for a mortgage, so they can review the documents related to the mortgage, and make sure your interests are protected.
In Illinois, with the increase of rental properties, landlord tenant issues often come up. Whether it is non-payment of rent on the lessee’s side, or violations of covenants on the lessor’s side, an attorney is almost always involved in a dispute. If you have an issue with a landlord or a tenant, contact us and we will do what we can to take care of the situation.
Commercial Real Estate
Commercial Real Estate transactions are both very similar and very different from residential real estate. There is often more items up for negotiation between buyer and seller, and when there is a dispute, more is at stake. The primary job of an attorney in this type of transaction is to make sure a dispute does not come up. This is particularly true when the transaction is in the form of a lease. If you are renting, buying or selling commercial property, you need to have legal representation. Consider Skyles Law Group for your legal needs.