As a Chicago and Illinois real estate lawyer, I know people wonder “What does a lawyer do at a closing, anyway?”
You can contact me to discuss your real estate closing needs, and check out this article for an overview of the process.
For a relatively small price, an attorney will be the one professional in whose sole fiduciary responsibility is to the potential property owner.
Lawyer’s duties for real estate closings
An attorney can perform any or all of these services:
- Verbal and written overview of the buying process
- Drafts, reviews, explains and negotiates the contract to purchase
- Discusses timing and possession issues
- Communicates and negotiates repair issues that may be indicated by a home inspector
- Examines the title commitment and survey to be sure the purchased property is the one that was contracted
- Explains contract contingencies, if any, and monitors deadlines to make sure that those contingencies are met
- Verifies and explains tax consequences and other fees
- Schedules and attends the closing to ensure compliance with the contract and to compare the loan document form compliance with the loan agreement
Much of the attorney’s work will take place behind the scenes – that’s what makes closings actually close.
If you have a real estate closing to discuss, feel free to contact me. Though I work primarily in Northern Illinois, including Chicago, Cook County, Lake County, DuPage County, Kane County, and Will County, I have a network of lawyers across Illinois that can help you, if necessary.