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Real Estate

Can Buyers Back Out of Real Estate Agreements During the Pandemic?

The COVID-19 pandemic has created unprecedented legal questions, and many are wondering if their real estate contracts are enforceable in light of the current world situation. A real estate sales contract is legally binding, and walking away from it puts the buyer's earnest money at risk. Does the … [...]

What Is a Private Listing Network?

A house model with for sale words under the frame In high-value markets like Chicago, many top properties sell every day without ever being listed publicly because of the private listing network, and this network helps sellers get top dollar for their properties. The private listing network is a … [...]

Chicago Real Estate: A Year in Reveiw

Real estate words show on a computer screen, and one hand holds a house model Chicago’s residential and commercial real estate market saw significant changes throughout 2019. Ever-evolving, real estate markets may experience effects due to a range of factors. Events at the state, national, and … [...]

Real Estate Investors Are Avoiding Chicago. Here’s Why

Aerial view of Chicago buildings Chicago's financial difficulties and investors’ fear of higher taxes to cover unfunded liabilities have caused some investors to delay property purchases or avoid the area market altogether. The city's commercial real estate values dropped significantly in … [...]

What You Need to Know About Dual Agency in Illinois

A cartoon business agent pointing to a house model with for sale word Dual agency, or representing both parties in a real estate transaction, places legal limits on a real estate agent’s ability to represent the interests of their client. Sellers and buyers should protect themselves by … [...]

What You Should Know About HOA Rules Violations

A big house is under construction Penalties for violating Home Owner Association (HOA) rules can include fines, legal costs, and even liens against the property. To protect themselves, homeowners must understand the HOA’s regulations and their obligation to comply with them.  Take HOA … [...]

How to Avoid Real Estate Investment Scams

A fraud alert red warning showing on a person's computer's screen Real estate investment scams can cost investors thousands in lost assets. Understanding how they operate and how to recognize them can protect investors against financial loss. Losses Rising As they take advantage of a … [...]

What Chicago’s Building Code Overhaul Means for You

The Chicago City Council revised the city’s building code for the first time in more than seventy years, bringing it in line with the International Building Code (IBC) construction and use practices. These changes affect property owners, buyers, and developers. What Changed Construction … [...]

Will a Balloon Mortgage Land You in Hot Water?

Balloon Mortgages generally feature lower interest rates, smaller monthly payments, and lower down payment requirements but the large balance that comes due at maturity may make them too risky for some homebuyers. The inability to pay the balloon payment due at the end of the mortgage term may … [...]

Homeownership Is Once Again the American Dream

The American Dream of homeownership is once again a reality for those who may have been excluded from the housing market in the past. Buyers who do their homework and understand the local real estate market can avoid disappointment and be ready to close on the home of their dreams. With more buyers … [...]