Chicagoland Area Real Estate Blog & News

The Importance of Real Estate Attorneys

Here’s a quick explanation of the crucial role real estate attorneys play.

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A real estate attorney completes necessary tasks in every real estate transaction. They are going to order title, plan a survey, schedule well and septic inspections, and more. They charge a flat fee, usually around $500.

Sometimes there will be a postcard in the mail when you’re selling that advertises a real estate attorney for $199. You need to be careful about who you’re hiring. You want a real estate attorney, not somebody who is going to end up in court. The people who send these types of mailings usually aren’t true real estate attorneys, and they tend to cut corners.

"Your real estate attorney is there to protect you."

A true real estate attorney will maximize the money in your pocket. They can provide you with opportunities to save money on title, help the inspections to come out in a better place, and their knowledge of city/village requirements is paramount.

The most important thing is that your real estate attorney is there to protect you. Take this situation we had last week: Someone hired an attorney who spends time in court. The property did not close on time...

4 Market Misconceptions That People Often Believe

I’m revealing the truth behind these widely-held misconceptions about our market.

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We have a hot seller’s market, but there are four common misconceptions about it that I want to clear up:

1. You need to know where you’re going before you can sell. The problem with that is that home sellers are not accepting contingencies in today’s market. They’d rather sell to a buyer without any contingencies, of which there are many. To get around this, you want to negotiate favorable terms when selling your current home. You may be able to negotiate a leaseback agreement or an extended closing to give you time to find and close on your new home.

2. Your home’s condition doesn’t matter. You may be able to get away with a little more today, but you will get more money for a home in better condition. Go through your home with a trusted professional and see where it makes sense to spend a few bucks to get a few bucks more back.

3. You can price above the market. Appraisal issues are going to get in the way. Pricing above the market may result in buyers staying away. If you do price above the market, your home’s just going to sit...