Blog: Real Estate Transactions
- Avoid the Most Common Legal Mistakes in Real Estate
Feb 23, 2026
Real estate transactions are complex endeavors that involve a multitude of legal considerations. Whether you’re buying, selling, or leasing property, it’s crucial to navigate the process with diligence and care to avoid potential pitfalls that could lead to significant consequences down the line. In this article, we’ll explore some of the most common legal mistakes made in real estate transactions and provide guidance on how to steer clear of them. Failing to Understand Contract Terms:...Read More - Understanding Revocable Living Trusts for Real Estate
Feb 23, 2026
If you own your own home, then you should know about revocable living trusts for real estate. A revocable living trust can be an extremely valuable tool for managing your property. In this blog post, we’ll explain what a revocable living trust is and how it can benefit almost anyone who owns real estate. While revocable living trusts are not new, in the last several years they have become more common and accessible to ordinary...Read More - Common Reasons Your Real Estate Closing May Be Delayed
Feb 23, 2026
Buying or selling a home is an exciting time, but it is important to maintain a level of flexibility with your timing. Namely, the closing date in your contract is an estimate and is not set in stone. If your closing gets postponed, avoid getting anxious or frustrated immediately: this is not uncommon! Here are the top 5 reasons your real estate closing can be delayed. Additional Lender Requirements Completing your loan application and submitting...Read More - Navigating the New Law on REALTOR Commission Transparency
Feb 23, 2026
The real estate market is undergoing significant changes, and one of the most notable developments is the new law requiring increased transparency for real estate agent commissions. This legislation aims to reshape how buyers and sellers interact with real estate professionals, fostering a more informed and equitable marketplace. Let’s explore what this law entails, why it matters, and how it can impact your real estate journey. What the New Law Means At its core, the...Read More - What You Should Know About the Real Estate Market Today
Feb 23, 2026
For a long time now (throughout 2021 and well into 2022) the real estate market has been a Seller’s market. Prices were sky high and rates were continually rising. But now, in mid-2022, the real estate market is once again beginning to shift. If you’re wondering what is happening to the market right now and how it’s trending, keep reading. We’ll cover recent changes and clarify where the market stands today. Home Availability Is Still...Read More - Inspection Surprises: What to Do When Significant Issues Arise
Feb 23, 2026
Occasionally, home inspections reveal unexpected (and unwelcome!) surprises, leaving buyers wondering what their options are. Some significant issues that frequently show up on inspection reports include radon, mold, and water intrusion. Radon and mold can have serious health implications. Water intrusion, manifesting as basement leaks or roof-related problems, is also a big concern and costly to remedy. Sellers are legally required to disclose known issues that could affect the property’s value or safety by including...Read More - Don’t Let Tax Surprises Derail Your Home Purchase at the Closing Table
Feb 23, 2026
As real estate attorneys, we’re often the last professionals involved before a transaction becomes official—which gives us a clear view of what’s happening at the closing table. Lately, we’ve seen a troubling pattern: real estate closings falling through at the last minute because of property taxes. Even after a buyer is pre-approved, the deal can fall apart in the final stages—not because of the property itself, but because a reassessment causes the projected monthly payments...Read More - Real Estate Transaction Nightmares: Why You Need a Real Estate Attorney
Feb 23, 2026
Spooky season is nearly over, and even if you’re someone who loves a good scare, there’s one thing that should never send shivers down your spine—your real estate transaction. Yet, without the guidance of a seasoned real estate attorney, your home purchase or sale can quickly turn into a horror story! Imagine discovering after purchasing your new home that the HOA can fine you for leaving your Halloween decorations up too long. Or waiving an...Read More - Property Tax Bill Exemptions: How to Check If You’re Getting the Right Ones and Apply for Missed Exemptions
Feb 23, 2026
The second installment of Cook County’s 2023 Property Tax bills were recently sent out, making it an excellent time to review your exemptions! Most counties in Illinois, including Cook County, offer property tax exemptions for homeowners who meet certain qualifications. Eligibility depends on factors such as the applicant’s primary residence, age, income, level of disability, or service in the armed forces. These exemptions can significantly lower your bill, so it’s worth checking to ensure you’re...Read More - New Construction or Previously Owned Home: Some Things to Consider!
Feb 23, 2026
If you are in the market for a new home, you may wonder if you should buy previously owned or newly constructed property. While there are many considerations related to floor plans, fixtures, design, and neighborhood (just to name a few!) I am going to focus on some of the legal considerations and differences between the two. Waiting Period The first thing to consider when deciding between a newly constructed home and a previously owned...Read More