Real estate law is a special concentration within the law, not usually covered under general contract law. This particular field of law practice contains special nuances and fiduciary requirements not found in other forms of law.While some states mandate using an attorney for the home buying or home selling process, Illinois is not one of them. That said, there are numerous key advantages to working with a real estate attorney.
For one, real estate attorneys receive education and training on state-specific laws. Even if you're familiar with the legal system's layout in one state, in another, it can be completely different.
More so, the home buying process can often have complications. These complications can range from structural issues with the property to questions of ownership and who has the actual right to sell said property.
Overall, the purpose of a real estate attorney is to ensure that the closing transaction comes together as seamlessly as possible. This is done through a thorough contract review process, often including negotiation for any needed home repairs. When it comes time for the closing, the real estate attorney is part of your team designed to help you, working collaboratively with your realtor and lending agent.
For more questions pertaining to real estate law, contact Michna Law Group by phone at 847.446.4600 or by email at BJM@MichnaLaw.com.
