Buying And Selling Real Estate FAQ
There is a lot to know about the purchase and sale of real estate in Illinois. The laws can be complicated, and you may not know everything you need to know. At Cohen Donahue & Morales, we make a point to educate our clients on the law and their prospects.
However, even before you speak with us, you likely have several questions about the real estate process in Illinois. Here are a few answers to some of the most commonly asked questions.
What do I bring to the closing?
There are many documents that you may bring to the closing, but the most important ones are:
- Proof of insurance
- A down payment
Depending on the negotiations of the sales agreement, you may have to bring proof of repairs if you are selling or some other documentation.
What can I do if my real estate deal falls through?
Depending on the circumstances and how advanced the deal is, you may take legal action for a broken deal. However, taking legal action in a broken deal can be expensive, and you must weigh the possible outcomes against the cost.
What happens if someone does not disclose a defect?
If a person does not disclose a defect in your home or attempts to conceal it, they may breach the contract. As contract breaches are extremely serious, there are any number of remedies the law may want to pursue.
Do I need an attorney to buy or sell a home?
You may need to consult an attorney on many issues with buying or selling a home. While it may be possible to do it yourself, you may find out very quickly that your situation is beyond your knowledge or control.
Contact our offices in Elgin, McHenry or Palatine to get answers to your most vital questions. Many members of our staff speak Spanish in addition to English. Call 847-780-2688 or send us an email to set up a meeting.