Real Estate Attorney in Chicago, Illinois
Real Estate Transactions: Attorney Deadra Woods Stokes & the Estate Planning, Probate and Real Estate Clinic at Chicago-Kent College of Law
Buying or selling a home represents one of the largest financial transactions you will undertake in your life. Navigating the complexities of real estate transactions can be daunting, especially when it comes to understanding mortgage terms and your obligations. While your real estate agent can provide valuable assistance, their expertise may not cover all legal aspects.
The Role of a Real Estate Attorney
A real estate attorney is a licensed professional who has earned a law degree and passed the Illinois state bar exam. Specializing in real estate law, they offer comprehensive advice to buyers, sellers, and lenders throughout the transaction process. Their primary responsibilities include preparing and reviewing documents and contracts related to the sale or purchase of property.
What Does a Real Estate Attorney Do?
Depending on their role, real estate attorneys perform various tasks for their clients, including:
Seller's Real Estate Attorney
- Drafts or reviews the real estate contract
- Conducts a title search to ensure a clear title
- Provides general advice regarding the contract and sale
- Resolves title issues
- Drafts or reviews the deed
- Addresses transaction disputes
Buyer's Real Estate Attorney
- Prepares the purchase contract on behalf of the buyer
- Reviews the mortgage contract and advises the buyer
- Resolves issues regarding the deed
- Obtains title insurance
- Writes amendments to contracts used by real estate agents
- Negotiate contract terms and repairs
When Should You Hire a Real Estate Attorney?
In Illinois, legal involvement in real estate transactions may be necessary, depending on state regulations regarding who can draft legal documents or oversee closings.
Benefits of Hiring a Real Estate Attorney
- Legal Protection: Unlike real estate agents, attorneys can provide legal advice and protect you from potential financial mistakes.
- Navigating Complex Documents: An attorney ensures that contracts and documents are correctly drafted, especially for non-standard transactions, such as short sales or foreclosures.
- Resolving Disputes: Legal assistance can help address any disputes or legal issues related to the property, such as zoning disputes or title defects.
Contact Us
If you're considering buying or selling a home in Illinois, contact Attorney Deadra Woods Stokes and the Estate Planning, Probate and Real Estate Clinic at Chicago-Kent College of Law. Our team is here to guide you through the legal aspects of your real estate transaction, ensuring that your rights and interests are protected every step of the way.