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Real Estate

Cutting Edge Technology: Changing the Commercial Real Estate Industry for Good?

Technological advances like automated valuation technology based on machine learning can simplify and expedite the process of buying or selling commercial real estate, but AVMs may also result in appraisals that do not reflect actual market values. As automated property valuation methods become more … [...]

What You Should Know Before Buying a Condo

While buying a condo in Chicago is similar to purchasing a home or apartment, there are many distinctive differences that are crucial to understand. Buyers should never sign on the dotted line without first getting the answers they need. Condo Management It is critical to know whether or not the … [...]

These Real Estate Scams Could Whisk Away Your Dream Home

Real estate scams can rob prospective homebuyers and owners of their cash and prevent them from purchasing their dream home. Scammers often target the inexperienced, the elderly and other vulnerable or less informed buyers and owners. An understanding of the real estate purchase process and the … [...]

Why You Need a Preapproval When Buying a Home

Pre-approval for a mortgage is a necessity for home buyers who want their offer to buy to be taken seriously. Many buyers seek assistance from a real estate lawyer or real estate broker to better understand the Chicago home market and the need for mortgage pre-approval before making an offer on a … [...]

Tiny Houses Could Be the Key to Homeownership in Chicago

The emergence of tiny houses in the Chicago market may provide a solution for those seeking home ownership, but buyers should be aware that purchasing a tiny house is a real estate transaction with the same legal requirements as a traditional home purchase and may also be subject to other … [...]

Mortgage Rates Are On the Rise: Here’s What Buyers Can Do

Mortgage interest rates are expected to rise with the improving economy, but home buyers have options to protect themselves from increasing costs. As of March 1, the rate for a thirty-year fixed mortgage had risen to 4.43%. Rising interest rates can cost home buyers thousands of dollars in increased … [...]

Nine Questions You Should Ask Before Buying A Home

Home buyers are faced with many decisions when purchasing a house and it is essential that they ask the necessary questions to protect their rights before signing the closing documents. Questions All Buyers Should Ask There are some questions even experienced home buyers should ask:   1 - … [...]

What Buyers Should Know About New Construction

Sellers of new construction homes are required by Illinois law to provide full disclosures regarding any defects in materials, workmanship, construction quality or safety. Standard purchase agreements don't always represent a buyer's best interests or contain language to protect his or her … [...]

Illinois Protecting Homebuyers: Seller-Financed Homes

A new Illinois law strengthening the disclosure requirements on homes sold with seller financing went into effect in January 2018. The new law gives buyers of seller-financed homes more protection from eviction if they miss a payment. The move by state legislatures is in response to a lawsuit filed … [...]

Beware of Foreclosure Fraud

Foreclosure fraud tends to run rampant among distressed homeowners despite increased attention from regulators, law enforcement, and the media, and people who are at risk of losing their homes should be extra cautious when considering foreclosure solutions. One of the most common schemes that … [...]