Many aspects of buying and selling property go much smoother when done with an attorney's help.
An attorney can help evaluate the real estate contract, which explains in detail the property and the stipulations of the transaction, such as purchase price. Acquiring and reviewing the survey, inspections, and deeds can also be managed by your attorney. If something in those documents does not look right, the attorney can make the needed changes. This saves you the time and hassle of getting all of these records yourself.
Setting A Closing Date
Lincoln Law Partners will work with the the opposing party and attorneys to set a closing date that is convenient for you. We will work with a title insurance company to get the appropriate title insurance. Up until the closing date, the opposing party is likely to make requests to change certain details of the real estate deal. We will keep you informed of these requests, give you options of what we can do next, and then respond back by negotiating. All of this work allows you to stay up to date on the real estate deal, while making it as stress free as possible.
What is the difference between a mortgage and a deed?
A mortgage is a loan acquired by the buyers from a bank or lending institution. A deed is a legal document that needs to be filed with Illinois. While the mortgage is needed to give peace of mind to the seller that the property will be sold, the deed is the actual document that legally transfers the property from one person (or business) to another.