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residential real estate Archives

Why you need title insurance

At the Law Office of Paul R. Idlas in Illinois, we know how exciting it is to purchase a new home. Whether it is your first home, a larger home for your growing family, or a smaller home when you are ready to downsize, buying a new home is always a very “big deal.” If you are like most people, your home also represents your biggest investment. Consequently, you want to make sure that it has not only the space, layout and amenities you desire, but also is legally yours when you buy it.

Am I liable for lack of disclosure when I sell?

Illinois, like many other states, requires that when selling residential real estate, you must disclose any issues with the property. Illinois uses a specific disclosure act to govern this, and an exhaustive list of items to disclose, ranging from water leakage in the basement to any number of other material defects. So if you fail to disclose these material defects, can you be held liable in court?

What are the main legal issues residential realtors face?

You remodeled the home office, hung out the shingle and built an online presence with a basic website. On Saturday afternoons, you are now out and about in Illinois suburbia keeping a watch for prime residential properties. As you begin your career in residential real estate, remember to think through the legal issues that go along with being a realtor. 

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