Buying a Home
Importance of Having a Lawyer When Buying a Home
Prospective home buyers should seek the assistance of a real estate attorney when entering the market. An attorney will be a key member of your team, along with your Realtor and lender. Our office will work closely with your Realtor and lender to make sure that you are getting consistent advice to achieve the singular purpose of closing on your home.
Contract to Purchase
Often in a residential real estate purchase, the contract is signed before an attorney is contacted. Most real estate contracts in Illinois have attorney review periods. It is important that your attorney reviews the contract during this time period to assure that you are able to take advantage of all of the opportunities afforded to you in the contract and be advised of any pitfalls that may have been overlooked in signing the document.
Of the utmost importance in most Illinois residential contracts is the opportunity to perform an inspection. Upon receipt of your professional inspection, Damon will help you determine what repairs or credits you are likely to receive from a seller pursuant to the terms of the contract. Not all repairs are required by the Seller and we will guide you through the negotiating process for that inspection.
The final step in the purchase is the closing process. This is the culmination of the many concerns including approvals of mortgage financing, title insurance, property inspections and surveys, and a host of other conveyance and closing documents. Damon or another experienced attorney from his office will be at the closing to guide you through the extensive documentation you must sign in order to complete the purchase. Additionally, we will be sure that you are getting clear and insured title to the property that you are purchasing.