Guide to Finding Illinois Real Estate Lawyer

When you engage in a real estate transaction involving the sale or lease of property, you are committing to a transaction with many legal implications. IL real estate lawyers can help review any paperwork or represent you in civil court if the terms of an agreement are violated. Different real estate agreements have different ramifications. Illinois real estate lawyers specialize in many different kinds of legal situations. Here are some things to keep in mind if you are considering consulting an attorney.

Types of real estate transactions

If you are committing to buying a house, apartment or other piece of property, there are two documents that are generally involved:

• The real estate contract specifies the names of both people involved in the transaction, the address condition of the property, the price and terms of payment.

• The deed actually transfers the property from one party to another.

If you can afford to retain the services of a IL real estate lawyer to review the contract you are signing, it is advisable to do so. This kind of preventive litigation can help to ensure that you are getting exactly what you paid for and are not committing to any financial obligations you will be unable to honor later.

People who are leasing a property on a temporary basis will sign a lease contract. Much like a real estate contract, it will specify the identities of the landlord and tenant and the condition of the property. This too can benefit from being put before IL real estate lawyers prior to signing.

Buyer-seller disputes

A real estate contract will typically stipulate what kind of mediation will be undertaken if a buyer and seller end up at odds, such as arbitration by a third party. However, if the property you purchase does not live up to what is specified in the property or some form of disagreement over payment arises, you may need to consult an IL real estate lawyer. In this case, you will probably be pursuing civil litigation.

Landlord-tenant disputes

After a lease begins, sometimes the landlord and tenant may have a disagreement that cannot be resolved. Some areas of dispute that may require the help of an Illinois real estate lawyer include:

• Failure to pay rent in a timely fashion

• Damage done to the property by a tenant

• A landlord’s failure to perform the repairs or maintenance specified in the lease agreement

• A tenant illegally subletting the property to another person

• Landlord discrimination against prospective tenants on the basis of age, race or gender

Civil litigation

If two parties involved in a real estate dispute cannot reach a resolution, a lawsuit may be filed in civil court. This means that one party is seeking financial compensation from the other. While both parties are free to represent themselves if they are of sound mind, most people will want the help of IL real estate lawyers familiar with all applicable laws and court procedures.

In the vast majority of cases, most civil litigation will be resolved before it reaches the courtroom. After you or your IL real estate lawyer files a complaint with the court, the other party will be formally notified. The pretrial process will then begin. Illinois real estate lawyers representing both parties will attempt to negotiate the terms of a mutually acceptable out-of-court financial settlement.

Should no resolution be found, both parties will appear in court. After hearing the evidence, a judge will issue a legally binding judgment. While your Illinois real estate lawyer may appeal this decision, it is desirable to try to reach a resolution before any hearing to avoid unexpected verdicts pleasing to neither side.

Foreclosure

A common component of real estate agreements for people who cannot afford to pay for their property purchase all at once is a mortgage agreement. This turns whatever you are buying into collateral for a loan. Should you fail to keep up with your payment schedule, your creditor may attempt to confiscate your property.

Illinois real estate lawyers can help people who are at risk of losing their property. If you are in danger of losing your property or fear that you may be unable to honor your financial commitments, you should immediately contact the lender and attempt to renegotiate the terms of your mortgage.

In some cases, an Illinois real estate lawyer may decide that you should declare bankruptcy. This is an extreme step to take that has the advantage of preventing creditors from harassing you but will also affect your credit rating for years to come. Illinois real estate lawyers cannot help you with the highly technical bankruptcy court system but may be able to refer you to a qualified specialist in the field.

Finding an Illinois real estate lawyer

Hiring an attorney to represent you is not a step to be undertaken lightly. If you decide you need the help of IL real estate lawyers to negotiate with another party or to go to court, the most trustworthy recommendations will come from friends and family. Do not agree to an initial consultation without first looking up the disciplinary record of any attorney you are considering hiring.

You may have to meet with several Illinois real estate lawyers before you find someone you are comfortable hiring to represent you. Make the first out of every initial consultation by arriving with all contracts, financial statements and other documents that may have a bearing on your case. Prepare a list of questions to ask any Illinois real estate lawyer you speak with, including:

• What is your level of experience in handling my kind of case?

• If you are not qualified to represent me, can you refer me to an Illinois real estate lawyer with more specialized knowledge?

• How long will it take to achieve a resolution in my case?

• Can I expect to achieve an out-of-court settlement?

• Who at your firm will be responsible for keeping me updated on any progress made in my case?

• Will you be handling my case by yourself or will another IL real estate lawyer be involved?