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Why You Should Use An Attorney When Buying or Selling A Home

January 7, 2015

Although most individuals utilize real estate brokers when buying and selling their home, often times buyers or sellers are not certain they need an attorney to guide them through the process.  In Illinois, an attorney is required to prepare the closing documents.   If you do not hire an attorney, the bank or title company will hire an attorney to prepare the necessary documents.  However, they will not be able to advise you.

In Illinois, it is very common for buyers and sellers to hire their own attorney when handling a transaction.  This attorney will review all the documents, advise and assist with final negotiations, and attend the closing.  At the closing, he or she will explain the documents in plain English and assist in signing the paperwork.  A lay person would have a difficult time handling the overabundance of documents, not to mention the title report and inspection issues that could arise.  An attorney can assist with other issues that may arise, such as, issues with property lines, ownership, probate issues, and re-negotiating contract dates and extensions.

When compared with the money spent on an average home, the fee paid to an attorney is well worth the cost.  The fee paid is a worthwhile investment in safeguarding most individual’s largest asset.

Call CTM Legal Group to discuss how we can assist in your upcoming home sale or purchase!