Any one who invests in property should seek the advice of an experienced real estate lawyer. Transferring real estate can be a complicated matter. It is essential that the title is thoroughly clear before a new owner takes over the property, or they could find themselves in debt for a lien related to a debt they didn’t make. Something as simple as an unpaid water bill can cause serious problems if the new owner doesn’t know about it before taking over the property. A real Estate Law Lawyer in Chicago may also look over any contracts to ensure that the terms are reasonable and customary. Using a local attorney can benefit investors because local lawyers, such as Starr, Bejgiert, Zink & Rowells, are more likely to know about real estate trends in Chicago than a lawyer in another state.
Real estate lawyers have a very different role than agents in the investing arena. An agent can help an investor find a property that meets their needs and can connect them with the seller. An agent or Realtor may even help a client negotiate a selling price for the property. However, an agent does not typically get involved in title searches or complicated settlements. This is where a real Estate Law Lawyer in Chicago can be very helpful. Since most people don’t purchase a lot of real estate in their lifetime, getting the professional advice of an attorney before making a huge investment makes sense.
This is a matter in which it is essential to choose an attorney who devotes their practice to issues related to real estate. Lawyers with general practices might not be as familiar with the intricacies of the law. While a family friend may offer a reduced rate on their fees, if they don’t practice real estate law on a regular basis, it might be best to pass on the offer and work with a lawyer who does. Investors who have their attorney look over their real estate contract before the sign may be happier with the deal than those who choose to do it all on their own.