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Real Estate

Help! The Seller Backed Out of Our Contract

When sellers back out of a sale, buyers may be entitled to compensation for their losses. A contract to sell real estate is legally binding on buyers and sellers. Once the agreement is signed and funds are deposited in escrow, neither party can back out without consequences. Why Sellers Back Out On … [...]

The Key to Buying a House with No Down Payment

Mortgage assistance programs make it possible for many home buyers to purchase a house with little or no down payment. To make use of these programs, home buyers must understand which programs are available in their area and qualification requirements for each. Home Ownership can be a Reality The … [...]

Is Your Real Estate Agent Looking Out for Your Best Interests?

A conflict of interest may prevent real estate agents from representing their clients' best interests. Dual agency and other less apparent conflicts can place buyers and sellers at a disadvantage. To protect themselves, it is essential that all parties fully understand whose interests the real … [...]

Lowering Out of Pocket Closing Costs

While many closing fees are fixed, real estate closing attorneys will often negotiate who pays them, working with buyers and sellers to reduce out-of-pocket cash due at closing. Closing costs, or the fees paid to complete a real estate purchase, must be paid before title to the property is … [...]

Achieving Long-Term Success as a Real Estate Investor

Real Estate investment provides opportunities to grow wealth, but long-term success as a property investor does not come without preparation. Financial and property management skills, along with an understanding of the local market conditions are essential for successful 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 … [...]