Buying a new home is an exciting prospect but also a serious decision. Many prospective and new homeowners are left disappointed when running into legal problems after making impulse decisions. Taking some time to reflect on the legal factors surrounding a house...
Real Estate Law
Facing a bidding war: Today’s hot seller’s market
The housing market has been intense in the last several months, which has led to many people ending up in bidding wars. As a buyer looking for a property, you don’t want to get swept up into a bidding war and end up with a home that isn’t actually worth what you’ll...
What problems can occur when closing on a home?
Buying your first home is an exciting prospect, but it can also be confusing and stressful. Having saved for years, you want to be sure you spend your money wisely. There is a lot to learn about the real estate process, from understanding how much a mortgage will end...
Does an as-is listing for cash sale mean you can hide defects in a property?
Sometimes, when there are major issues with a property, it makes more sense to sell it than to invest in repairs or upgrades. Maybe you inherited a home from your parents that is a true fixer-upper. Perhaps you just regained possession of a rental home that the same...
What is a zoning variance?
If you’re buying or leasing a building to use for a commercial venture, you need to make sure that it is in the right zone. Your intentions for that space may not be allowed if it is not. The most common zones are residential, commercial and industrial, but you also...
What are the risks of using a quitclaim deed?
Quitclaim deeds are an easy way to transfer ownership of a piece of property between two people. They’re often used to take a spouse’s name off a home following a divorce, to add a spouse’s name to a deed following a marriage and to transfer property between siblings...
Disclosing defects in commercial real estate
Disclosing defects is a necessary part of selling a commercial property. However, some sellers may be hesitant about doing so out of fear that it will scare away potential buyers. It can be tempting to withhold information, but this may lead to more significant...
Can I get rid of my student loans in Chapter 7 bankruptcy?
It might be hard to find a young adult in Illinois who is not carrying at least some student debt. Not only can these loans be tens or even hundreds of thousands of dollars, they are more difficult to pay back than most people realize -- especially when other debt is...
Can I use an independent home inspector when buying a house?
Buying a home is one of the biggest financial commitments a person will ever make. This is why the average buyer in Illinois dedicates a significant amount of time finding the best place possible. But even if the house has the right number of rooms, is in a good...
Residential real estate: When can I turn down an offer?
A home is much more than just a bit of property. Homeowners pour their time, effort and money into creating a loving and welcoming environment for their families. So when it comes time to sell, people can easily get caught up in their emotions. However, residential...