Common Mistakes Sellers Need To Avoid
Real estate transactions are complex and involve significant amounts of money. However, many residential real estate sellers fail to seek advice from a lawyer during the sales process, instead relying on the word of their real estate agent and the language of the standardized forms that all parties must sign at closing. This can prove to be a costly mistake and may result in stressful difficulties down the road.
I am Paul R. Idlas, an attorney located in Grayslake, Illinois. I help guide sellers through real estate transactions step-by-step, ensuring that their interests are protected while avoiding unpleasant surprises. To find out how I can help you, call me at 847-986-8862 for an initial consultation.
Perform A Thorough Title Check
One of the common mistakes property sellers need to avoid is failing to perform a thorough title check prior to listing the property. If you have owned the property for some time, you probably assume that you know all there is to know about the property. However, a number of surprising issues can be found with current deeds, including matters involving the signing authority, improper descriptions and improper drafting. Each deed must be examined in detail.
Other title issues that owners may be unaware of can include prescriptive and implied easements. Few people are thrilled to discover that the land they thought they had owned can actually be accessed and used by the easement holder. Having an attorney review the title for any potential issues can help avoid a number of future problems.
Have A Lawyer Present At Closing
The closing process involves the signing of reams of standard, preprinted documents. Few people take the time to read what they are signing and even less understand the actual terms of the documents. I can review all of the documents, advise on what and what not to sign, prepare the legal documents that you are required to provide and explain each and every step of the process. A transaction this significant should not be left to chance.
Contact My Law Office If You Are Planning On Selling Real Estate
From my office in Grayslake, I represent sellers of real estate throughout the Lake County area. For help with contract review and other transactional matters, call me at 847-986-8862. You may also contact me online.