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The Legalities Of Selling Your Own Property - 1 views

real estate attorney in Chicago

started by realestatehelp on 28 Jun 14
  • realestatehelp
     
    Illinois homeowners who wish to sell their own property could benefit greatly from the assistance of an attorney. An attorney that practices within the real estate field understands the documentation requirements to complete these transactions. If you wish to sell your property on your own, you should contact a real estate lawyer in Chicago and schedule an appointment.

    For Sale by Owner

    Homeowners who wish to venture down this path without a real estate agent must acquire a better understanding of real estate laws. First, they should present the property for sale by placing signs on the property and through print media. Online options are available for homeowners. The most important factor of these advertisements is that seller should never include any misleading information. This could result in consumer rights violations and lead to legal action against them.

    real estate attorney in Chicago

    By hiring a Chicago real estate attorney to assist them, the homeowner acquires knowledge of documentation preparation. For instance, if the seller wishes to include restrictions for the way in which the property is sold, he or she should include these terms in the sales contract. An attorney can include these concepts based on local real estate laws.

    Lease Purchases

    If the seller would consider a lease purchase, this information should be presented to potential buyers. Their selected real estate attorney in Chicago will include the terms in the lease-purchase contract that outlines the repercussions of default. As it is considered a rental agreement, the owner can impose stipulations and guidelines to protect their property.

    For example, cigarette smoke and pets cause damage to the interior of the property. If the seller doesn't want the tenant to smoke or have pets inside the property, this stipulation is defined in the lease-purchase contract. A violation of any terms defined in the contract could result in eviction. When this is the case, the seller is not required to return the down payment or deposit to the buyer or tenant and is within their legal rights to ask them to vacate the premises.

    Homeowners who wish to avoid a real estate agency and sell their property alone should seek bankruptcy lawyers in Chicago to prevent any liabilities. An attorney explains the local real estate laws to them and creates documents for them to complete this transaction. If you wish to hire a real estate attorney, you may contact the Law Offices of Chang and Carlin today.

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