FAQS

Given that your property is likely one of your most significant assets, having an understanding in Illinois real estate law and custom is crucial. Unless you possess a background in real estate law, it’s improbable that you’re aware of potential pitfalls in the contract terms that may leave you vulnerable. A real estate attorney can identify gaps in protection and inform you of potential risks or implications arising from omissions or inadequately stated terms. Additionally, it’s common for the other party to have legal representation solely focused on safeguarding their interests, further enhancing your vulnerability.

The roles of a realtor and an attorney are distinct but should ideally work in tandem. A realtor manages market analysis, pre-contract negotiations, and showings. Simultaneously, the attorney examines the executed contract, legal correspondence, and, when necessary, reviews association disclosures. They share insights with their client about the potential impact of these elements.  Subsequently, guided by client direction, the attorney then undertakes tasks aimed at safeguarding their client’s legal liability throughout the transaction.

An attorney owes a duty of loyalty and confidentiality to their client.  If only one party has legal representation, there is a potential for an imbalance of power and information, as the lawyer’s primary duty is to their client. It is in your best interest to have your own attorney who can advocate for your rights, negotiate on your behalf, and provide you with legal advice tailored to your specific situation. This helps to level the playing field and ensures that your interests are best represented throughout the transaction.

• Prior to the call, collect pertinent documents like your executed sales contract.
• Write down a list of questions you may have
• Write down any specific concerns you may have so these can also be discussed during the initial phone call.