It takes more than a real estate agent alone to complete a property transaction. Ensuring your real estate purchase is fair, reasonably priced, and without surprises requires various real estate professionals. However, your dream real estate team starts with the addition of a local real estate attorney. Not only can we manage the legal intricacies and extensive documentation required of a property transaction, but we can connect you with reliable experts who can assist with property searches, home inspections, financing and more. Talk with Brave Law Center today if you’re not sure where to start with your next real estate purchase.
Other than an attorney, the first member of your real estate team is your agent! A real estate agent or broker is the best person to assist with finding a home. Once you have an idea of the area you wish to live in, a local real estate agent can find you homes within your budget that match your preferences. However, before you enter into an agreement with an agent, allow an attorney to look over any agent contracts, ensuring terms and compensation are fair.
Once you have one or a few homes picked as potential purchases, ensuring there are no issues with your property is the next step. First, your real estate agent can perform a title search, identifying whether a piece of property has liens, unsettled boundary disputes, unpaid property taxes, etc. If the title is clean, you’ll want a home inspector to inspect the house itself. While a seller must disclose any property problems they are aware of, home inspectors can uncover previously unknown problems. You can save significant time, money and headache by having a property inspected before committing to purchase.
While not a specific member of your real estate team, selecting an appropriate title insurance company will help your sale as much as any individual real estate professional. As already mentioned, a property title can have unresolved problems that can cause significant issues after purchase. Ideally, your attorney can resolve said issues before a sale’s completion. However, many banks or lenders won’t even consider financing your sale if your title isn’t properly insured. Thankfully, Brave Law Center can connect you with the title insurance companies that provide the most comprehensive coverage.
Before you can buy a home, you need to confirm you have the financing to do so. Thus, finding a lender that can offer you excellent loan terms is essential. While Brave Law Center can recommend a few lenders we’ve worked with before, finding the right lender for you might require some extra searching. And with a secured lender, you know your budget restraints and can be more confident in the type of home you wish to purchase. However, before settling on a lender, allow your attorney to determine whether the loan terms you are given are best for your situation.
While it isn’t legally required to have an attorney assist with your real estate sale in Illinois (unlike other states), it will prove more beneficial to your transaction in the long run. Every real estate professional previously mentioned an attorney could help you select. In addition to managing a sale’s documents and performing title searches, an attorney can assist with a sale’s closing. Brave Law will act as a third party to your transaction, ensuring all documents/contracts are correct, funds are appropriately distributed to all parties involved, and your sale is properly recorded for public legal record.
When assembling your real estate dream team, allow Brave Law Center to help you bring everyone together! Or, if in need of additional legal services regarding criminal law, family law or estate planning, contact Brave Law Center today at 309-250-2907. We are located at 330 NE Perry Ave, Peoria, IL 61603.