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Top 5 Things To Know About Real Estate Transactions

Whether you are buying or selling real estate, this is a significant transaction. It is important to protect your interests and avoid surprises with the help of an experienced real estate lawyer. I am Paul R. Idlas, an attorney located in Grayslake, Illinois. I am dedicated to providing skilled legal counsel to people throughout the Lake County area in matters involving residential real estate. To learn more about how I can help you, call me at 847-986-8862 to schedule an initial consultation.

The following are the top five things you should know about real estate transactions:

1. Protect Your Investment

For many people, the purchase or sale of a home will be the largest transaction they will ever make. When there are significant amounts of money at stake, it is only natural to want to protect your investment. I can help you gain an understanding what is fair and what should be challenged. I will examine the title to the property to determine if there are any encumbrances or other issues that may cause problems. I am committed to ensuring that your interests are protected at every turn.

2. Understand The Process

Too many people blindly trust their real estate agent and mortgage holder when it comes to the buying and selling of the home. Do you understand why it is important to have a home inspection? Why title issues may cause problems? What is in the numerous preprinted forms you are asked to sign? I can help explain the purpose behind each step of a real estate transaction so that you understand exactly what is being asked of you. This can save you the headache of unpleasant surprises further down the road.

3. Keep Things On Track

Both buyers and sellers can be guilty of equivocating over relatively minor issues, delaying the sale or perhaps terminating the sale altogether. An attorney can help keep things moving along and ensure that inspections, purchase agreement signings and the like are carried out on schedule, and that the lines of communication are kept open so that both parties can have any concerns addressed in a timely manner.

4. Standardized Documents Cannot Cover Everything

Real estate agents and mortgage lenders rely on preprinted, standardized documents to help ease the flow of a real estate transaction. The common belief is that these documents take most contingencies into account, and if there is a discrepancy it can be easily corrected. The fact is, all transactions are unique and it is impossible for a "canned" form to take everything into account. An attorney can draft custom contracts and documents that are written specifically to protect your interests, and a lawyer can thoroughly explain your rights and obligations under the contract.

5. You Should Be Represented By Legal Counsel

Because this type of transaction is so significant, it only makes sense to protect yourself with the help of experienced legal counsel. I can be there for you at every step of the transaction process. If, for some reason, your deal falls apart at the last minute, I can continue to serve as your advocate to help minimize any time and money that may be lost.

Contact Me To Learn More

I can let you know about all of the things you should keep in mind if you are buying or selling real estate. To schedule an initial consultation, call me at 847-986-8862. You may also contact me online.