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Real Estate

What to Do When a Seller Breaches a Real Estate Contract

When a seller breaches a real estate contract, buyers may need to contact a real estate attorney to sue for damages. In most cases, sellers are eager to close on real estate transactions. In cases where a seller tries to back out of the deal and cancel the real estate contract, the buyer may be

Why Do You Need a Real Estate Lawyer?

A real estate attorney focuses their practice on assisting clients with real estate disputes, ranging from the purchase and sale of commercial spaces, fights over HOA rules, tenant-landlord issues, and facilitating the purchase of a single-family home. Real estate lawyers practice in a broad range

Has the Surge in Housing Prices Run its Course?

U.S. home prices (single and multi-family homes) have been surging for the past few years. The trend started years before the pandemic. However, the pandemic super-charged the phenomena caused by the lockdown forcing the population (the portion able to work from home) to save unprecedented amounts

Is a Lease Option Agreement Right for You?

Lease options are agreements that give tenants an option to purchase a property during or at the end of their leasing period. These agreements allow investors to sell rental properties to their tenants without entering into a new agreement. Further, lease options enable potential buyers to live in a

Real Estate Investing Nightmares: What Could Go Wrong?

Real estate investing is one of the best ways to generate long-term and stable wealth that can secure a family’s fortunes; however, it is also precarious and sinks a family’s fortune if an unwitting investor is unprepared. Investing in real estate can be a big nightmare. Nightmare No. 1: It is

Broken Promises: What Constitutes a Breach of Contract in Real Estate?

A breach of contract occurs when one or both parties fail to perform a necessary term of the contract, such as payment or provision of services. Contracts are binding agreements which describe the reciprocal duties each party to the contract must perform. Enforceable contracts can be verbal or

Alternative Loan Options for Your Fixer-Upper

Fannie Mae and Freddie Mac offer alternative loan options to fund major renovations or even the purchase of a fixer-upper. The Fannie Mae Homestyle loan allows families to borrow based on the improved value of the home. The Freddie Mac Choice Renovation loan will enable buyers to both (1) purchase a

What You Should Know About the FHA 203K Loan

The FHA 203K loan is a type of loan used to refurbish or refinance a home. Further, FHA 203K loans are earmarked for those living “primary residences,” so they are specifically useful for families who want to rehabilitate their current home. These loans allow regular people and investors to fix up

Chicago’s Real Estate Market Is Sizzling Hot

The Chicago, real estate market had its most productive month in over a decade in April of this year. According to data from Zillow and Pulsenomics, there were more Chicago home sales in April than in any other month since 2005. The combination of higher savings from the economic shutdown and work

How to Sell Your House When the Market Is Slow

Selling a home in a buyer’s market (i.e., a slow market) is more complicated, but it is possible. Sellers can remodel and repair their home to update it for the modern buyer. Sellers can also work with a reputable real estate agency to stage the home and photograph it attractively for buyers. These