Hamilton & Antonsen
Purchasing a Home in Illinois
Legal considerations and benefits of hiring an real estate attorney
Purchasing a home in Illinois requires a lot more than finding your favorite property and packing your boxes. Instead, you should take time to consider what you can afford to spend and which neighborhood best matches your lifestyle, and determine the types of features that you consider essential in a home. Now is also the time to consider key legal issues that might arise with the purchase of a home, including disclosures and contracts.
The Benefits of Working with an Illinois Real Estate Agent and Illinois Real Estate Attorney
When purchasing an Illinois property, many people decide to retain the assistance of real estate agents. Agents help you locate the best home for your needs as well as help resolve any complex issues that arise with your purchase of a property. Some particular benefits of retaining a real estate agent include:
Agents know the community, which includes market conditions and the average sale price of homes in the area
Agents can facilitate negotiating a final deal with the home’s seller.
Fortunately, working with a real estate agent often does not cost anything for the buyer. Instead, the seller often pays the entire real estate commission, which is on average between 5% to 6% of the sale of a home. Once the home you want is secured contacting a local real estate attorney is a must in order to make sure the transaction goes smoothly and your rights and contract terms are protected and carried out properly. A local real estate lawyer will also ensure you have ‘clean title’ to your new purchase.
Illinois and Seller Disclosure Requirements
Illinois state law requires sellers to provide purchasers with complete disclosure forms, which address details about defects or risky conditions with properties. Some common property qualities listed in disclosure forms include boundary line disputes, histories of termite infestations, and cracks in the foundation.
In addition to disclosure forms, sellers must provide radon disclosure. These disclosures play a critical role for buyers because often just looking at a property is simply not enough to determine what problems might exist there.
Performing Illinois Home Inspections
While disclosures play a critical role in the home purchase process, buyers should avoid relying solely on disclosures provided by a seller. Even sellers who have lived in a property are not likely to know about various defects that exist in a home.
Real Estate Topics of Interest
For more information regarding some specific aspects Real Estate Law in Joliet and the greater Will County area, please see the topics below
Speak with an Experienced Property Law Attorney
It is important to understand the legal considerations and benefits of having an experienced real estate lawyer when our purchasing property in Illinois. If you need the assistance of a Joliet or Plainfield real estate attorney, call Hamilton & Antonsen in Joliet at 815.729.9220 or contact us to schedule a free case evaluation today.