Most home buyers, usually first-time home buyers, are unaware of the need to have an attorney when buying a home. It is important that an attorney be contacted as soon as the home buyer starts looking for that home. In Illinois, you can expect the attorney to handle the following matters:
- Draft, review and/or negotiate the contract to buy the home.
- Negotiate repair issues when the home inspection reveals defects with the home.
- Review the title report to make sure prior year property taxes are paid, all liens or mortgages against the home removed and all title defects cleared up.
- Watch the contact deadlines for loan approval or sale contingencies and request extensions, if needed.
- Review and verify the closing figures.
- Attend the closing, review and explain all mortgage and title transfer documents to the home buyer.
- After closing, review the recorded deed and title policy and forward the documents to the new home owner.
Any home purchase can be an exciting and sometimes confusing time for any home buyer. In Illinois, it is important to get an attorney involved and representing the home buyer as soon as possible.
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