1512 Artaius Parkway, Suite 300,
Libertyville, IL 60048

Call for a FREE Phone Consultation

847-549-0000

Subscribe to this list via RSS Blog posts tagged in protecting your rights

Posted on in Real Estate

Lake County real estate attorneysThere are countless reasons that you might wish to sell your home. Maybe you are moving to a new city, or maybe you have just had your offer accepted on a new home in a different part of Northern Illinois. You might also need to sell your house due to the circumstances surrounding your divorce. In many divorce cases, selling the marital home is part of the equitable division of marital property that is required under Illinois law. If you are selling your home due to a divorce, a qualified real estate attorney can help you do so while avoiding potentially costly mistakes.

Take Your Time

If you are like most people, you want the divorce process to be completed as quickly as possible while protecting your rights and best interests. Rushing the sale of your home, however, could cause problems. Selling a home involves many steps, and you will have a number of responsibilities before and during the transaction, and your soon-to-be ex-spouse will probably need to be involved as well. With the help of your attorney and your real estate broker, you should compile a checklist that includes everything that needs to be done, including but not limited to:

  • Arranging an appraisal
  • Inspection considerations
  • Necessary repairs
  • Listing the property
  • Scheduling open houses and other viewing appointments
  • Vetting offers from prospective buyers
  • Preparing and reviewing the transaction documents

Be patient, and only check things off once they completed to the satisfaction of everyone involved—especially your attorney.

...

Lake County real estate attorneysIf you are ready to buy your first home, congratulations! Being a homeowner comes with numerous benefits, but also many serious responsibilities. Your home will probably be the biggest financial investment you ever make, so it is essential to be aware of the obstacles you may experience in the home-buying process. Whether you are a first-time homebuyer or you are currently a homeowner interested in buying a new home, there are a variety of ways that a real estate lawyer can help you.

Limitations of Real Estate Agents

When someone prepares to buy a home, they may assume that the only professional they will need to consult with is a real estate agent or broker. A real estate agent can offer helpful support and advice on a variety of issues, however, his or her guidance alone is not enough to ensure the home-buying process goes as smoothly as it should.

One major limitation that real estate agents have is that they cannot offer guidance regarding any legal issues that arise during the purchase. Not only do real estate agents generally lack the legal knowledge and education needed to give quality advice about legal issues, doing so can actually threaten their broker’s license. A lawyer will be aware of the federal statutes, state laws, local ordinances, and case-specific regulations you will need to comply with in order to avoid legal problems with your new home.

...

Lake County foreclosure defense attorneysIf you are facing the possibility of foreclosure, you probably have many concerns. You are likely to be worried about the details of the foreclosure process in addition to more personal considerations such as where you are going to live and how you will repair your credit in the years to come. It is not unusual for homeowners in foreclosure to believe that they will be lucky to get through the proceedings without owing anything additional on their home. Depending on the circumstances of your situation, however, your lender might actually owe you money when everything is all said and done.

Balancing the Numbers

As a homeowner, you probably know that foreclosure is the process that a lender will use to reclaim your home if you fail to make your agreed-upon payments. During foreclosure, you will be given notice to vacate the property, and the home will be sold at a sheriff’s auction. The proceeds of the sale are then used by the lender to satisfy the remaining balance of the mortgage loan. What happens next will depend on the situation.

If you currently owe more on your mortgage than what your home is worth, the proceeds of the sheriff’s sale are unlikely to be enough to cover the full remaining balance. The amount remaining after the proceeds of the sale are applied is called a deficiency. Unless you have negotiated with the lender in advance, you will almost certainly be responsible for paying off the deficiency amount.

...
AFDA BBB IRELA Illinois State Bar Association Illinois Trial Lawyers Asscociation Manta Member NACBA North western suburban bar association Top One
Back to Top