Real Estate Law
Buying or selling a home is an involved process with many legal complexities and technicalities. As such, finding a home on your own can be a frustrating task. At Grcic Law, we aim to make the legal process of buying a home as straightforward as possible. We will use our skills and know-how to help you quickly and efficiently find a residential property that is right for you.
What Is Residential Real Estate Law?
Real estate law concerns the purchasing, owning, selling, and renting of residential or commercial real estate. As real estate law became more complex over the years, the process of buying or selling property similarly became more complicated. Real estate transactions today involve attorneys, mortgages, contingencies, home inspections, and more.
As such, the process of buying a house is a lot more difficult for individuals than in the past. A competent and experienced real estate attorney can help you navigate the legal landscape when buying a residential property.
The State of Illinois allows five days to review real estate contracts, known as the attorney inspection or attorney modification period. During these five days, your attorney can review the agreement’s contents and recommend changes or reject the contract if it does not offer terms beneficial to their client.
At Grcic Law, our experienced team of attorneys will review any legal contracts to make sure you understand all the relevant details. If we notice something out of place, we will notify you and present possible contract modifications.
A competent real estate attorney will also examine the property title to guard against title or mortgage fraud. Property titles might have information about restrictive covenants, easements, and property liens, so it’s in your best interest to get a real estate attorney to examine title documents for any encumbrances.
You will need to handle titles regardless if you are buying or selling. A real estate attorney can examine property titles to make sure they are clean and that there are no issues that might make themselves apparent down the road. Our attorneys at Grcic Law can ensure that your property title is clean and does not have any encumbrances that may resurface in the future.
Generally speaking, most homeowners buy their homes with a mortgage loan. Applying for a mortgage is an intricate process that involves several documents, agreements, and conditions. Loan terms can be challenging to parse, and an experienced real estate attorney can help you understand your loan payment, interest rates, late penalties, and other relevant factors.
Buying a house is both a rewarding and stressful experience. It takes a lot of work beforehand but is entirely worth it once the house is in your name. The process of buying residential property is replete with documents, legal terminology, and lots of conditions. An Illinois real estate attorney can help you through the entire process, from mortgage approval to final closings.
So if you require an experienced residential real estate attorney, contact us using the form below Grcic Law or call us at 847-696-6196 today!
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