Chicago Purchases and Leases Attorney
Comprehensive Real Estate Support for Illinois Families and Business Owners
Nothing is more exciting than finding the perfect house for your family or the ideal office for your growing business. Identifying a great piece of property is only the first step in a real estate transaction, however. Some may rush to quickly to the closing for fear of missing out and consequently make avoidable mistakes that will have future ramifications.
The Kenny Law Firm can help both families and businesses ably navigate Illinois real estate closings. We work closely with our clients to understand their concerns and goals for the transaction before tailoring our legal assistance to protect their interests. Our team can leverage our experience to help you, your family, or your business understand the potential financial and legal ramifications of closing on a property, giving you the knowledge and confidence to make informed decisions.
If you are looking to close on a real estate purchase or lease, do not hesitate to call (312) 647-2483 or contact us online to discuss your options.
How Our Lawyers Can Help You Close Your Real Estate Deal in Illinois
Whether you are buying, selling, or leasing a property, a real estate transaction will often represent an enormous financial commitment that should be carefully scrutinized to ensure your goals are met and interests are protected. No matter your circumstance, our team can serve as your advisor throughout the real estate closing process and give you the support you need.
Our law firm can assist you with:
- Real Estate Contract Attorney Review and Modifications. While the form contract you completed with the assistance of your real estate agent may be sufficient, usually it is necessary to modify the contract for your benefit. The attorney modification contingency in most if not all of these form contracts permit such modifications subject to time restrictions and other terms and conditions that limit your ability to modify the sales contract. We can help modify timely raised contract issues to make sure the contract is fair and reasonable consistent with your interests.
- Resolving Repair Issues. Like the attorney modification period, your ability to inspect the property for defects and give notice is typically limited in time and scope. This inspection contingency gives you the opportunity to inspect the property with a licensed inspector and to obtain repairs or a credit for closing. We can help negotiate the repairs or credit to resolve timely raised defect issues. We can also help Sellers negotiate responses to timely raised defect issues raised by the buyer’s attorney.
- Clear Title Matters. For the Seller it is necessary to provide clear title to the Buyer at closing. For the Buyer, it is necessary to ensure that the title being conveyed from the seller at closing is clear and not subject to improper liens. We can help you make sure the title is clear or that you know if there are any issues clouding the property's title.
- Document Review. Not only must a buyer to a transaction be prepared to sign numerous documents at the closing, but the buyer is also presumed under law to understand and agree with them prior to signing even if the buyer does not read them. A typical residential real estate transaction includes: (1) seller generated transfer documents; (2) title company generated documents concerning not only title or ownership but also covenants, conditions and restrictions affecting title; (3) surveys; (4) lender generated loan documents; (5) and sometimes even post-closing (a) real estate tax escrow agreement and (b) possession agreements. You can rest assured that the Kenny Law Firm will review with you these documents prior to signing and ensure that they were properly prepared and legally sufficient for your purchase.
- Attend Closings. Whether you are a buyer or seller, your attorney will need to be present to handle any last minute obstacles that can develop at the closing. We attend closings either remotely or in person depending to ensure a smooth closing for our clients.
- Post Closings. There are little known issues that can develop if the buyer fails to obtain the title policy or review the recorded deed after the closing. Should a title issue develop in the future, the buyer may run into a problem if the title commitment that is received prior to closing is not updated at the closing so the actual owner’s title policy can be issued insuring there are no title defects. Similarly, it is necessary to obtain the actual recorded deed post closing. This insures that your ownership in the home has been recorded for all to see in the public record identifying you as the current owner. The Kenny Law Firm is there to make sure the buyer obtains these important post closing documents.
- Document Preparation. While the buyer has many documents to review and sign, the seller will be required to generate transfer documents to convey the property to the buyer: (1) closing statement; (2) deed; (3) affidavit of title; (4) bill of sale; (5) state, county and municipal transfer documents; and (6) other transfer documents depending on the circumstances of the particular transaction. The Kenny Law Firm will prepare legally sufficient documents needed by seller to transfer the property at the closing.
Our team at the Kenny Law Firm is committed to helping Illinois families and businesses close their real estate deals. Navigating an immense purchase, lease, or sale agreement can be extremely intimidating, but we can give you the legal support you need in efficiently and effectively moving through the process.
We can help you close your purchase or lease. Schedule a free initial consultation and discuss your options by calling (312) 647-2483 or contacting us online.
We Care About Your Experience
He was willing to take my case and try to get it back on track. For the first time in a long time, I felt that I just might get justice, be free to enjoy my First Amendment right to freedom of speech.” - Shellie