|
What a Lawyer can do for you
IF YOU ARE THE SELLER:
- Review and advise you regarding Seller’s Disclosure Statement covering condition of property, as required by Illinois law;
- Review the Buyer’s Offer to Purchase and draft suggested substantive changes, if any;
- Arrange for issuance of title insurance and review title policy commitment to determine current status of title; assist in clearing any title defects revealed by the commitment
- Correspond and confer with real estate agents, Buyer or Buyer’s lawyer and lender, if any, to coordinate closing;
- Prepare warranty deed and required transfer declaration(s); prepare zoning compliance certificate or exemption, as the case may be;
- Review closing statement and any related closing documents, such as, Affidavit of Title, and;
- Attend closing.
IF YOU ARE THE BUYER:
- Review and advise you regarding Seller’s Disclosure Statement required under Illinois law;
- Review Offer and Counter-offer, if any, and draft suggested substantive changes, if any;
- Review title insurance commitment and render an opinion and explanation of the current status of the title; communicate with Seller or Seller’s lawyer regarding any title defects revealed by the commitment;
- Correspond and confer with real estate agents, Seller or Seller’s lawyer and lender, if any, to coordinate closing;
- Review status of sale contingencies such as building inspection, radon testing, septic systems, well systems and financing, and advise you concerning problems disclosed or apparent;
- Review closing statement and related closing documents; and
- Attend closing.
Courtesy of Johnson, Bunce & Noble
|
|
