Real Estate Transactions

In most parts of the state, residential real estate contracts require an attorney review of real estate contract terms. Underlying the real estate contract is a well-established process followed by Illinois real estate professionals. In this office, we are experts at facilitating that process.

The process has many stakeholders: the realtors, lenders, attorneys, title company, and the parties to the transaction. We are exceptional at meeting the expectations of the stakeholders involved in the process, but most importantly, we advocate for our client’s interests.

Your realtor (and we know many good ones if you need help) performs the work that sets the initial contract terms, like the purchase price and personal property included in the sale, and other essential terms. It’s typically your realtor who will forward the executed contract to this office.

The purchaser will almost always have a professional home inspection during the five day attorney review period that follows the initial acceptance of the contract. The inspection report is forwarded to the purchaser and realtor, and they forward the report to the purchaser’s attorney. The purchaser’s attorney and purchaser will review the report, and make findings of any material defects identified by the inspector. The attorney will draft an ‘Attorney Review’ letter that addresses some common real estate considerations, including requests for the seller to repair or replace material defects. If the purchase is for a condominium, association documents are also obtained. The purchaser’s attorney review letter is sent to the seller’s attorney.

The seller’s attorney confers with the seller about the purchaser’s requested contract modifications, and they can either accept, deny or counter the requests. During this time, the parties may disapprove and terminate the contract under certain circumstances. Mostly, it’s well understood that the seller wants to sell and the purchasers want to purchase the property. It’s our job to facilitate positive outcomes to meet those shared objectives.

We negotiate contract modifications, produce title and closing documents, and represent our clients in person at the real estate closing. We make one of your most important life transactions as reliable, stress-free and efficient as possible. We do the work so you can focus on your future dreams. To learn more about what to expect as a seller or purchaser of real estate, call for a free consultation.