Often, people don’t think about hiring an attorney when they are buying or selling real estate, but this could be a big mistake. Attorneys that specialize in real estate can provide you with more benefits than you may realize at first. Let’s look at some of the biggest reasons to work with a real estate attorney in Chicago.
Drafting and Reviewing Contracts and Documents
Buying and selling real estate involves a substantial amount of paperwork and documentation. Some of these papers and contracts can be complex and difficult to understand. Your real estate attorney in Chicago can help you get a full understanding of everything that you have to sign, and they can keep you from making mistakes. Additionally, they can draft various types of documents when they are needed.
Attorneys Could Help Negotiate
Rather than trying to negotiate on your own or having a real estate professional do it, you could opt to have an attorney help with the negotiations. Lawyers negotiate and argue as part of their daily work. They know how to talk to people and have the potential to get you a better deal than you could have if you were trying to do it on your own.
Dealing with Leins and Title Searches
Before closing, a lien and title search needs to take place. This ensures that no one else has a financial claim on the property and that the seller is legally allowed to sell the home. Real estate attorneys can help with the lien and title search. However, one of the best things about working with attorneys is that they can help to resolve any title and lien problems that are found.
Ensure Proper Deed Filing
Deeds are legal documents, and you will want an attorney to examine the deed and make sure it is filed properly. This ensures no mistakes are made with the deed, and it can provide you with some peace of mind.
Preparation of a Closing Document
The attorney can prepare your closing document, which is an account of the financial transactions that occurred during the sales process. This could include things like the amount the buyer paid in earnest money, when they paid, when the escrow account was funded, and then the seller received the final payment, for example.
Now that you have a good understanding of why you should work with a real estate attorney, it’s time to find the right firm for the job. Turn to the experienced lawyers here at Bell Shah Law when you have any type of real estate attorney needs. We will put our experience to work for you and ensure you and your real estate are properly represented.