While using the services of a residential real estate lawyer in Chicago can add to the cost of any real estate transaction, there is no doubt that it will be money well spent. There are many things an attorney can do for someone to ensure they get a good deal and to protect their interests. Learn some of the reasons to consider hiring this legal representation here.
Real Estate Contracts
Even though most people can negotiate with a person face-to-face, the actual terms of the deal have to be put into a contract to make them legally binding. A residential real estate lawyer in Chicago will not only negotiate on behalf of their client but also ensure the contract created adheres to all the state laws and addresses other issues that may affect the property down the road.
Addressing Liens
Another important service a real estate lawyer provides is a title search. The purpose of this is to make sure the property in question is being sold free from any encumbrances, including judgements or liens. The result of the title search is a very important factor because it lets a buyer know if the seller has the legal right to actual sell the property. Lawyers will be able to offer this service much faster and for a lower cost since they typically have previous relationships with various title search companies.
Property Transfers
If one or more parties are partnerships, trusts or corporations, the preparation of the contract and negotiation process is a much more complex one. A lawyer will understand these arrangements even with regard to residential property. The attorney will work to ensure the contract adheres to the law and the deal does not violate any charter agreements that have been established.
When it comes to buying or selling a home, in many cases, hiring a lawyer will be a smart move. This professional looks out for the rights of their client to ensure the deal does not include any terms that may cause them issues down the road. For more information about the role of a residential real estate lawyer, they can contact the office of Starr Bejgiert Zink & Rowells.