When you're looking to buy a piece of residential real estate, you are conducting one of the biggest financial transactions of your life. Trying to take on such a task alone leaves room for the creation of many potential legal conflicts.
Some home buyers are wary of employing the services of a real estate attorney, either due to the belief that the fee is too high, or they already knows enough to make a sensible purchase. But this type of thinking does not factor in the many advantages offered by hiring a good real estate attorney.
It's important to have a legal professional by your side during the transaction. In Illinois, a real estate agent is not permitted to practice law. In order to attend to the legal matters, the presence of an attorney is a necessity.
With an attorney, you have someone on your team who has a neutral and objective stand on the transaction. The goal of the real estate agent is to close a deal. This means they may even try to sell you a house that is not right for you just to get their commission. However, Illinois does not allow for a licensed attorney to receive a part of the commission. Because of this, you can be sure that the advice offered by your attorney is not motivated by money.
You have someone who can interpret the various legal aspects of your contract. Sellers often deliberately try to add confusing terminology to the contract in an effort to dupe the buyer. Having an attorney will ensure you have someone on your team who can closely examine the document and bring any dubious conditions or statements to your attention.
An attorney can give you a warning when a move on your part would be considered illegal before the law. You may be fully unaware that you were committing a crime, but the law would simply view you as an offender. Having an attorney means you can approach the transaction with caution and safeguard your rights throughout the process. With an experienced real estate attorney, you may be able to process your property transaction with your best interests in place.